Banesco USA Appoints José B. Carrión III to its Board of Directors

Coral Gables, FL (Wednesday, February 1, 2023) — Banesco USA announces the appointment of José B. Carrión III to its Board of Directors, as part of the bank’s continued growth and expansion in Puerto Rico.

“Mr. Carrión has a vast experience and track record in community leadership and driving sustainable growth for leading firms particularly in the Puerto Rico market, and is a much-welcomed addition to our team of directors,” said Carlos Palomares, Chairman of the Board of Banesco USA. “His extensive knowledge and expertise will serve as an asset as we accelerate our growth in the consumer, commercial and corporate segments in South Florida and Puerto Rico.”

From 2016 to 2020, Mr. Carrión served as board chairman of the Federal Oversight Management Board of Puerto Rico. Since 2010 and 2012 respectively, he has maintained his role as an advisory board member of Advent-Morro Equity Partners, Puerto Rico’s oldest private equity firm, and the GM Group, the largest cyber security firm in Puerto Rico. The new board member currently is co-founder and director of LAT18, a privately held insurance brokerage firm concentrating on large commercial accounts.

Mr. Carrion III has experience in strategic planning, community and government affairs, restructuring, fiduciary oversight, corporate governance, making him an influential figure throughout the banking community domestically and in Puerto Rico.

“It is indeed a pleasure to accept a position on the board of directors for such a prestigious banking institution as Banesco USA,” Carrión added. “Working alongside many of the most prominent and respected names in the industry is truly an honor and welcomed opportunity.”

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About Banesco USA
Founded in 2006 and based in Miami, Banesco USA is an independent Florida state-chartered bank with $3 billion in assets as of December 31, 2022 and six locations between South Florida and Puerto Rico. Banesco USA is proud to serve the commercial real estate sector, small and middle-market businesses, as well as professionals who work in the community. The bank services both domestic and international clients as well as operating companies with a suite of products and services delivered with personalized attention to support their financial journeys.

Media Contacts:
Jessica Wade Pfeffer | 305-804-8424 |
Tyler Sminkey | 786-390-8510 |



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