Popular, Inc. (NASDAQ: BPOP) has announced the appointment of Javier D. Ferrer as the new President of the company, in addition to his current role as Chief Operating Officer (COO). These appointments were effective as of May 9, 2024. Ferrer has been with Popular since 2014 and has served in various leadership positions within the organization.
As President and COO, Ferrer will continue to oversee all business units in Puerto Rico, the mainland United States, and the Virgin Islands, as well as direct Popular's strategic planning and data analytics functions. Meanwhile, the corporation’s administrative, communications, finance, risk management, security, legal, and technology functions will continue to report directly to the CEO, Ignacio Alvarez.
Popular, Inc. is the leading financial institution in Puerto Rico, by both assets and deposits, and ranks among the top 50 U.S. bank holding companies by assets. Its principal subsidiary, Banco Popular de Puerto Rico, provides retail, mortgage, and commercial banking services in Puerto Rico and the U.S. Virgin Islands. Popular also offers auto and equipment leasing and financing, investment banking, broker-dealer, and insurance services through specialized subsidiaries.
This appointment comes at an exciting time for Popular, as the company continues to focus on its transformation, making it a priority for the organization. Ignacio Alvarez, the CEO, expressed his confidence in Ferrer's abilities and his contribution to the company's strategic initiatives.
These changes in leadership and the continued focus on strategic initiatives are likely to have a significant impact on Popular's operations and financial performance going forward. Following these announcements, the company's shares moved -0.0%, and are now trading at a price of $89.8. Check out the company's full 8-K submission here.
