Mexico-based Scotiabank Inverlat SA Institución de Banca Múltiple said Enrique Julio Zorrilla Fullaondo officially resigned as CEO and vice president of the board, effective June 1.

Adrian Otero Rosiles, who started at the company in February as part of a transition process, replaced Zorrilla Fullaondo in both roles.

Otero was the head of corporate banking and business at Banco Bilbao Vizcaya Argentaria Colombia SA and head of wholesale and investment banking at BBVA Bancomer SA Institución de Banca Múltiple Grupo Financiero BBVA Bancomer.