Grupo Financiero Inbursa SAB de CV appointed Javier Foncerrada Izquierdo as general director of its CFCredi business, replacing Fabiola Avendaño Ortegón in that post, the Mexican financial group said in an Aug. 7 securities filing.

Foncerrada also will remain head of Banco Inbursa SA Institución de Banca Múltiple Grupo Financiero Inbursa. Avendaño will remain with the group as head of FC Financial.

CFCredi has been part of Grupo Financiero Inbursa since November 2016, when it merged with the company.