Banco Popular CEO Ferrer to Retire, Garcia Named Successor

Banco Popular, Puerto Rico’s largest bank, plays a central role in the territory’s consumer and commercial financial system. A change at the top is therefore closely watched by customers and investors, particularly for signs of continuity in strategy and operations. The selection of an internal successor suggests the bank is seeking a smooth transition while preserving leadership stability and momentum across its businesses.

President and Chief Executive Javier Ferrer will retire at the end of August after just 13 months in the role, saying he plans to focus on his health and family. Chief Financial Officer Jorge Garcia will take over as CEO on Sept. 1. The internal promotion is part of a broader set of executive appointments involving the CEO, CFO and chief risk officer positions, as Banco Popular moves to maintain operational continuity.