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Credicorp Capital Chile invests $100M in new strategy, names 3 executives

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Credicorp Capital Chile invests $100M in new strategy, names 3 executives

Credicorp Capital Chile is investing $100 million in a new three-year program that includes organizational restructuring and management reshuffling, according to a report by Diario Financiero.

The company named Hugo Horta as general manager, Heinrich Lessau as head of Chile's corporate finance division and Guido Riquelme as the leader of the Chilean unit's brokerage business. As of June 1, the executives will work alongside the current leadership team of Executive President Guillermo Tagle and CEO Christian Laub, according to the publication.

The investment plan encompasses a broad shift for the company, as it transforms from a boutique investment bank to a regional bank operating both in investment and private banking, Horta told Diario Financiero.

Meanwhile, the management reshuffle sees the departure of executives Fernando Edwards, Sergio Merino, Cristián Letelier and Gonzalo Covarrubias.