Panama-based Banistmo SA and its financial leasing unit, Banistmo Leasing SA, have appointed Ricardo Mauricio Rosillo Rojas as board chairman.

Rosillo Rojas will replace Jaime Velasquez, who will remain as a director.

Meanwhile, Rafael Alfredo Sanchez Alvarado has left his position as vice president of business and government banking. He will be replaced by Tatiana Marrero in the interim.