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Banco de Occidente appoints new president

Banco de Occidente SA said its board appointed César Prado Villegas president, replacing Efraín Otero Álvarez.

Prado Villegas will assume the role once regulatory formalities are completed, according to a press release from the Colombian bank. Prado Villegas has experience working in both Colombia's private and public sector, including as a vice president at Banco de Bogotá SA.

Otero Álvarez resigned as Banco de Occidente's president in August after about 23 years in the position.