Popular Names Velasco to Lead U.S. Banking Operations

Popular, Inc., Puerto Rico’s largest financial institution by assets and deposits, operates on the U.S. mainland through New York-chartered Popular Bank, with branches in New York, New Jersey and Florida. The unit is a key test of Chief Executive Javier D. Ferrer’s strategy to lift group returns and sharpen execution after he took the top job on July 1, 2025.

Popular said on April 8, 2026, that Israel Velasco, who ran its Florida operations for 21 years, will become executive vice president and head of U.S. operations at Popular Bank on July 1. He succeeds Manuel A. Chinea, the unit’s leader for 13 years, who will move into the newly created role of chief experience and administration services officer. Chief Administration Officer Eduardo J. Negrón will retire on June 30.