Colombia's Banco Falabella SA said Sergio Muñoz Gómez has resigned as general manager, effective March 15, to take up the same position at Chilean affiliate Banco Falabella.

The Colombian bank's board is launching a selection process to find a replacement for Muñoz Gómez.

Alejandro Arze Safián was named general manager at the Chilean affiliate in late 2018 after the company completed an internal reorganization.