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Chile's finance minister names Arturo Tagle Quiroz president of BancoEstado

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Chile's finance minister names Arturo Tagle Quiroz president of BancoEstado

Chilean President Sebastián Piñera on March 16 appointed Arturo Tagle Quiroz the president and chairman of state-run lender Banco del Estado de Chile, replacing Enrique Marshall Rivera.

According to a statement from the finance ministry, Tagle Quiroz holds a master's degree in business administration from the University of Chicago and has worked in different roles within the country's financial sector, including as general manager of Banco de Chile from 2010 to 2016. He also has a background as a director at Chile's banking regulator, SBIF.

Finance minister Felipe Larraín said BancoEstado's biggest challenge going forward is to make further progress in financial inclusion throughout Chile.

Tagle Quiroz' appointment comes as Piñera's government takes office and reshuffles the leadership of state-run entities. Last week, Piñera named Joaquín Cortez the new head of the country's financial markets commission, CMF. Marshall Rivera had been appointed to his post at BancoEstado by then-President Michelle Bachelet in October 2017.