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Banco Cuscatlán appoints new CEO, board after Grupo Terra deal

Shareholdersof Banco Cuscatlán de El Salvador, formerly Banco Citibank de El Salvador SA, approved theappointment of José Eduardo Luna Roshardt as the bank's new CEO, the bank saidin a securities filing July 1.

Theappointment was published in El Salvador's national commercial registry on June30, which is the same day Honduras-based Grupo Terra SA de CV was due to take control of thebank. El Salvador's financial regulator, the SSF, Grupo Terra's acquisition ofthe bank earlier in June.

Separately,the bank has also elected a new board for the next three-year period, which wasalso published on the same day. The new board includes chairman José EduardoMontenegro Palomo and vice chairman Benjamin Vides Deneke.