Banco Popular CEO Ferrer to Retire, Garcia Named Successor

Banco Popular, Puerto Rico’s largest bank, plays a central role in the island’s financial system, making leadership changes closely watched by customers and investors. Javier Ferrer serves as both president and chief executive officer, but his decision to step down after just 13 months in the post puts the focus on management continuity and execution of the bank’s operating strategy.

Banco Popular said Ferrer will retire at the end of August 2026 to focus on his health and family. Chief Financial Officer Jorge Garcia will succeed him as CEO on Sept. 1, giving the bank an internal successor with direct knowledge of its finances and operations as it seeks to maintain momentum through the leadership transition.