Peru's Credicorp announces management shakeup, plans for new bank in Chile (updated)

Credicorp

21/12/2023 21:54

(Adds detail on shakeup in paragraph 3, background in
paragraphs 6-7)
    By Sarah Morland
       Dec 21 (Reuters) - Credicorp,  BAP.LM , one of Peru's
biggest financial holding companies, on Thursday announced a
slate of top-level management changes, including the appointment
of a new chief financial officer who is set to take up the role
next July.
    Alejandro Perez-Reyes is set to take over from outgoing CFO
Cesar Rios, Credicorp said, while Rios will himself on July 1
become chief risk officer for both Credicorp and sister company
BCP.
    Credicorp said the changes, which follow the retirement of
current chief risk officer Reynado Llosa, marked a "strategic
move towards enhancing our corporate strength." 
    The company said its chief technology officer will now
report directly to Credicorp's CEO, and established the new role
of chief strategy officer, to be held by Michelle Labarth, a
former Rothchild and Lehman Brothers director.
    Separately, Credicorp also announced that it was seeking a
license to set up a new banking entity in neighboring Chile.
    The announcements come after Credicorp last month cut some
financial forecasts for this year's earnings and warned of a
"moderate to strong" El Nino weather phenomenon next summer.
        The cyclical weather pattern, which warms the Pacific
Ocean spurring 
    extreme climate events
     across the region, is expected to hit the South American
country's key fishing and agriculture sectors.
  

 (Reporting by Sarah Morland; Editing by Valentine Hilaire,
Anthony Esposito and Diane Craft)
 ((sarah.morland@thomsonreuters.com;))