Popular, Inc. Appoints Carlos J. Vázquez as Chief Financial Officer; Jorge
Junquera Named as Vice Chairman and Special Assistant to the CEO
SAN JUAN, Puerto Rico -- January 24, 2013
Popular, Inc. (NASDAQ:BPOP) announced today that Carlos J. Vázquez, currently
President of Popular Community Bank, will become Chief Financial Officer of
the Company, effective as of March 15, 2013. Mr. Vázquez will succeed Jorge
Junquera, who will assume the new role of Vice Chairman and Special Assistant
to the CEO. Mr. Manuel Chinea will assume the role of Chief Operating Officer
of Popular Community Bank.
Richard Carrión, President and Chief Executive Officer of the Company, stated
that “Carlos’ diverse experience and knowledge of the various operations of
Popular make him a perfect candidate to assume the role of CFO.”
In his new role, Mr. Junquera will, among other things, assist in business
development initiatives and help oversee the Company’s portfolio investments.
He will also represent the Company on various boards of directors of entities
in which the Company has an ownership interest. Mr. Junquera stated that
“after working for Popular for over 40 years, 16 of which I served as CFO, I
look forward to this transition by assuming a role in which I can focus on
business development initiatives rather than on day-to-day management
Mr. Carrión stated that, “in his role as CFO, Jorge has made an invaluable
contribution to Popular. One of his most important contributions was to
provide strong leadership during the recent financial crisis and ensure that
the Corporation and its banking subsidiaries always maintained adequate levels
of capital and liquidity during that difficult period. We thank him for his
years of dedicated service to the Company. In his new role, I am sure that
Jorge will continue to make an important contribution to the future success of
Mr. Vázquez has been with the Company in senior management for more than 15
years. Before assuming his current role as President of Popular Community
Bank, Mr. Vázquez was in charge of Consumer Credit in Puerto Rico and prior to
that he served as the Chief Risk Officer of the Company. Prior to joining the
Company, Mr. Vázquez worked at JP Morgan & Co. where he held various
investment banking and capital markets positions. Mr. Vázquez is 54 years old
and is a graduate of the School of Engineering of the Rensselaer Polytechnic
Institute and obtained an MBA from the Harvard Business School.
Mr. Chinea has over 23 years of service at Popular. Some of his previous
responsibilities were Retail Banking Operations, Marketing, Product
Development Care Center, Popular Investments, and Consumer Loan Units, among
others. Mr. Carrión stated that, “Manuel knows our US operations well and I am
confident that he will greatly benefit our Institution.” Mr. Chinea will
commence in his new role effective on January 28, 2013.
Mr. Carrión noted that the changes were part of Popular’s normal management
succession process and reflected the depth of talent available in the Company.
Founded in 1893, Popular, Inc. is the leading banking institution by both
assets and deposits in Puerto Rico and ranks 36th by assets among U.S. banks.
In the United States, Popular has established a community-banking franchise,
doing business as Popular Community Bank, providing a broad range of financial
services and products with branches in New York, New Jersey, Illinois, Florida
Senior Vice President
787-281-5170 or 917-679-3596/mobile
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