First BanCorp has announced a strategic reorganization as part of its corporate succession plan. Effective August 1, 2025, Juan Carlos Pavía will assume the role of Chief Operating Officer, succeeding Donald Kafka, who will retire on September 15, 2025. Mr. Pavía, who joined the corporation in 2014 and currently serves as Executive Vice President and Chief Credit Officer, will oversee Banking Operations, Corporate Security, Information Technology, Real Estate, and a new Business Transformation Unit, while continuing his oversight of Credit Risk and Credit Administration.
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