Banco de Desarrollo del Ecuador BP said its board appointed Wilson Mayorga Benalcázar as the bank's new general manager.

Mayorga Benalcázar has experience serving on the development bank's board as a representative of Ecuador's government, in addition to serving as the chairman of the company's risk committee, according to a June 2 press release.

According to S&P Global Market Intelligence data, he replaces Gonzalo Fernando Núñez Sánchez as general manager.