Banco Falabella Perú SA elected Juan Fernando Correa Malachowski to be its new board chairman, replacing Juan Xavier Roca.
Correa's appointment, which took effect Jan. 25, comes months after the bank announced Roca's intention to step down from the chairman role as part of a broader management change at parent company Falabella Perú, the retail store operator. Correa replaced Roca as country manager at the parent company at the start of the year.
Roca, who was with Falabella Perú for 34 years, will remain on Banco Falabella's board as a director, as well as several other of the parent company's subsidiaries.
Helgi Gudmundsson contributed to this report.