Bladex CEO Rubens Amaral Jr. to Step Down in April 2018, CFO Leaves Company

Rubens Amaral Jr., chief executive office of Banco Latinoamericano de Comercio Exterior, S.A. (Bladex) has submitted his resignation, the bank’s board announced today. The CEO, who has led the Panama City-based firm since 2012, will step down officially on April 30 of next year and be replaced by N. Gabriel Tolchinsky, who currently serves as chief operating officer Bladex (NYSE: BLX).

Christopher Schech, chief financial officer of Bladex, is also leaving the regional financial services institution effective immediately. He is departing to “pursue other opportunities” after eight years with the company in a move that is “part of the succession plan of the organization,” according to a statement from Bladex. He will be replaced by new CFO Ana Graciela de Méndez, who had been serving as senior vice president of finance.

Gonzalo Menéndez Duque, chairman of Bladex, said that “the board is saddened by the departure of a CEO whose success in improving the bank’s business model, attracting top talent, relentlessly driving financial performance, and enhancing the value of the Bladex brand is well known and deservedly recognized.”

Menéndez also noted that Amaral and Tolchinsky, who has worked with Bladex as a consultant since 2014 and became both COO and “alternate CEO” this May, have worked together closely, which leads the board to “expect the transition process to be virtually seamless.”

In a statement, Amaral commented upon his accomplishments at the helm of Bladex and praised Tolchinsky as a successor. “I have no doubts that the Bladex franchise is strong, and I am also happy to have identified a very qualified successor in Gabriel to lead the bank in this new phase and prepare the organization to face the digital disruption which will undoubtedly impact financial institutions’ business worldwide,” said Rubens Amaral.

Bladex was established by the central banks of various Latin American and Caribbean countries in 1979 and has offices throughout the region, including locations in Colombia, Brazil, Mexico, Argentina, Peru, and the United States.