Earlier roles on record: CEO at Popular, Inc. (BPOP) until June 30, 2025 and Board Member at Popular, Inc. (BPOP) until May 8, 2025. Popular, Inc. reported in an 8-K filed February 27, 2025 that Ignacio Alvarez retired as members of the Board of Directors, effective May 8, 2025. Popular, Inc. reported in an 8-K filed February 27, 2025 that Ignacio Alvarez retired as Chief Executive Officer, effective June 30, 2025. The proxy statement of Popular, Inc. reports total compensation of $7,062,984 for Ignacio Alvarez in fiscal 2025, including a base salary of $634,538. Disclosed compensation is on record for 5 fiscal years. Ignacio Alvarez has spoken on 19 earnings calls across 1 company, most recently for Popular, Inc. on April 23, 2025. The companies whose calls Ignacio Alvarez spoke on are classified in the Financial Services sector.
“On February 25, 2025, Mr. Alvarez informed the Corporate Governance and Nominating Committee of the Board of his decision not to stand for re-election to the Corporation’s Board upon the expiration of his current term, which expires at the Corporation’s 2025 Annual Meeting of Shareholders, scheduled for May 8, 2025.”
Popular, Inc. Form 8-K, filed February 27, 2025
· Read the filing
“On February 25, 2025, Ignacio Alvarez announced his retirement as Chief Executive Officer (“CEO”) of Popular, Inc. (“Popular” or the “Corporation”), effective June 30, 2025 (the “Retirement Date”).”
Popular, Inc. Form 8-K, filed February 27, 2025
· Read the filing
Ignacio Alvarez on recent calls
“Before I begin, I would like to apologize. I'm not feeling 100% today. I'm a bit under the weather. I've asked Javier to cover the business highlights.”
“In 2024, we delivered results that reflect the strength of our franchise and the continued stability of the Puerto Rico economy. Our annual net income of $614 million compared to $541 million in 2023.”
“In the third quarter, we achieved net income of $155 million, a decrease of $23 million from the second quarter. These results were primarily driven by a higher provision for credit losses, which was partly a result of loan growth at BPPR.”
“Before I discuss the highlights for the second quarter, I am pleased to report that today we announced a 13% increase in our quarterly common stock dividend from $0.62 to $0.70 per share, commencing with the dividend payable in the first quarter of 2025 and a $500 million common stock repurchase authorization.”
“We are pleased to report a solid first quarter, net income totaled $103 million, which includes the impact of an additional accrual for the FDIC Special Assessment and a tax expense related to prior intercompany distribution.”
