Popular Appoints Jorge Garcia As CEO

(RTTNews) - Popular, Inc. (BPOP), a financial holding company, on Thursday said it has appointed Executive Vice President and Chief Financial Officer Jorge Garcia as President and Chief Executive Officer effective September 1.

The appointment comes as President and Chief Executive Officer Javier Ferrer retires, effective August 31.

In connection with the leadership changes, Executive Vice President and Chief Risk Officer Lidio Soriano was appointed Executive VP and CFO.

Senior VP and Head of the Credit Risk Management Division Luis Sousa was appointed Executive VP and Chief Risk Officer, effective September 1.

The company said the appointments are part of its succession plan developed by the board to ensure leadership continuity.

In the pre-market trading, Popular is 0.51% lesser at $173 on the Nasdaq.