Regulator authorizes new Bancolombia chairman

Tuesday, January 25, 2011

Colombian financial regulator Superfinanciera has authorized Carlos Raul Yepes Jimenez to take office as chairman and legal representative of Bancolombia (NYSE: CIB), the bank, the country's largest, said in a press release.

Yepes will become chairman on February 1 and will replace Jorge Londoño, who headed Bancolombia for 15 years.

Yepes is currently the corporate VP of the country's biggest cement firm, Cementos Argos, which together with holding company Grupo de Inversiones Suramericana (OTC: GIVSY) and Bancolombia is part of Colombia's largest business group, Grupo Empresarial Antioqueño (GEA).

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