William Shelton Salazar took over as the new president of Banco Multibank S.A. this month. According the company, Shelton will oversee a strategy of growth to raise the Bogota-based financial services firm’s presence in Colombia and target the corporate banking sector.
Expanding the commercial loan portfolio is high on the new president’s agenda as he runs the domestic subsidiary of Multibank Inc., which is based in Panama.
“With the support and backing of our parent company Multibank Inc. in Panama, we want to strengthen our factoring operations, commercial banking, and SME banking, consolidate our transactional banking, and offer hedging products through the treasury,” said William Shelton Salazar.
Shelton’s background includes experience in strategic management. He has led the implementation of corporate planning and design of business management models. Overall, he has been working in the financial services realm for more than three decades, holding high-level positions at Banco AV Villas and BBVA Colombia S.A.
While the institution has a long history in Colombia, Banco Multibank was previously known Macrofinanciera S.A. Compañia de Financiamiento. It was purchased by Multibank Inc. in 2011 and changed its name in February 2015.