Juan Carlos Echeverry to assume Banco de Bogotá presidency in May

Banco de Bogotá's Shareholders' Assembly confirmed Juan Carlos Echeverry Garzón as its new president starting May 6, replacing César Prado. Echeverry, with extensive experience in public and private sectors, takes over while Jorge Castaño Gutiérrez serves as interim president.

At Banco de Bogotá's Shareholders' Assembly, Juan Carlos Echeverry Garzón was announced as the new president starting May 6. He will replace César Prado, with Jorge Castaño Gutiérrez serving as interim president until then. The bank praises his leadership in organizational transformations and innovative financial strategies. Echeverry holds an economics degree from Universidad de los Andes, a PhD in Economics from New York University (NYU), a specialization in International Economics from Kiel Institute of Economics, and a postgraduate degree in Philosophy from Universidad Complutense de Madrid. He served as Ecopetrol president from 2015 to 2017, leading it to eight consecutive profitable quarters amid an oil price crisis, ranking among the world's top six oil firms by earnings. From 2010 to 2012, he was Minister of Finance and Public Credit, earning four international awards, and previously directed the DNP and deaned Universidad de los Andes' Economics Faculty. He ran for president in 2022. For 2025, the bank reported net profit of $1.2 trillion (11.6% growth from 2024), gross loan portfolio of $95.4 trillion, over 4.1 million active clients, $98 trillion in deposits, and $17.284 trillion in equity. It operates 465 branches with 14,513 employees. The assembly approved $1.78 per share dividends, payable from April 2026 to March 2027. Highlights include a $6.45 trillion green portfolio, over $15.2 trillion social portfolio, 1.6 billion digital transactions (up 59%), and 23.6 million Bre-B transfers worth $5.4 trillion. It ranked third in profits for January 2026.

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Juan Carlos Hurtado assumes role as interim president of Ecopetrol in corporate office setting.
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Juan Carlos Hurtado assumes as interim president of Ecopetrol

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Ecopetrol's Board of Directors approved president Ricardo Roa Barragán's vacation and unpaid leave request on Tuesday, appointing vice president Juan Carlos Hurtado as interim leader. The decision came in an extraordinary session on April 6. Hurtado took office on April 7 through May 27, extending with the leave.

Banco de Bogotá's board accepted César Prado Villegas's resignation from the presidency for personal reasons after more than two years. Jorge Castaño Gutiérrez will serve as interim president while a permanent successor is selected.

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The Board of Directors of Banco Santander Colombia announced the resignation of Martha Isabel Woodcock after 28 years with the group. Marcel Patiño Sedan will take over the role on July 1, 2026, following authorization from the Superfinanciera.

David Vélez, CEO of Nu Holdings and founder of Nubank, accepted the Empresario del Año 2025 award from La República at a ceremony in Bogotá, following last week's announcement recognizing his role in digital banking innovation. In his speech, he stressed the private sector's importance for Colombia's growth and criticized regulations excluding millions from formal credit.

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In its latest monthly update, Colombia's Banco de la República reported accumulated profits of $2.55 trillion through March 2026—a 43% drop from $4.43 trillion in March 2025. This continues a downward trend following February's 8.49% decline to $2.67 trillion (part of our ongoing Banco de la República Profits Reports series). Assets, equity, and reserves also fell.

In its May 1, 2026 board meeting, Banco de la República unanimously kept the benchmark interest rate at 11.25%, surprising analysts expecting a hike to combat accelerating inflation. Finance Minister Germán Ávila participated fully, citing constructive dialogue, while board members justified the decision to maintain stability amid political pressures.

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Ecopetrol's board will meet on March 30 to decide if Ricardo Roa remains CEO amid judicial probes and pressure from the USO union and President Gustavo Petro. Four of nine members backed his dismissal in Tuesday's meeting, with no decision reached. The oil workers' union USO threatens strike if he is not removed.

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