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Peru’s Banco de Credito Creates Investment Banking Division

Dec. 7 (Bloomberg) -- Banco de Credito del Peru, the Andean country’s largest lender, agreed today to create an investment banking division less than a week after announcing an expansion into Colombia’s financial services market.

Christian Laub, who’s in charge of corporate and investment lending at the Lima-based bank, will head the new division, Banco de Credito said in a regulatory filing.

Banco de Credito said Dec. 1 it will acquire a 51 percent stake in Colombian brokerage Correval to expand its corporate finance and brokerage business.

In separate statements, Jorge Mujica was named chief executive officer of the bank’s Bolivian unit while the lender’s parent company Credicorp Ltd. appointed Juan Inchaustegui chief executive officer of its Panama unit.

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To contact the reporter on this story: John Quigley in Lima at jquigley8@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net

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