First BanCorp has appointed Aurelio Aleman, currently senior executive vice-president and COO, as president and CEO of the company. Mr Aleman succeeds Mr Luis Beauchamp, who led the firm from 2005 until now.
Mr Aleman joined First BanCorp in 1998. During his eleven years he has assumed multiple leadership roles, including most recently, the position of COO since 2005. Mr Menendez-Cortada has been a director of the firm since 2004, and lead independent director since 2006.
Additionally, the board of directors also elected Mr Jose Menendez-Cortada, currently lead independent director, as non-executive chairman of the board. Both of these appointments will take effect on October 28.
Mr Aleman said: “I accept this challenge and responsibility with great enthusiasm and commitment. Our priority and focus at this time is to continue to enhance shareholder value by improving asset quality, returning to profitability, maintaining a strong capital position and continuing to fortify our leadership position and franchise. I look forward to working hand-in-hand with the First BanCorp team as we together continue the FirstBank journey that commenced over sixty years ago.”
