Banco Popular Vice Chairman Stepping Down

Jorge Junquera, vice chairman and special assistant to the chief executive at Popular Inc., will retire next month.

Junquera, 66, who will step down on Feb. 5, has worked for the San Juan, Puerto Rico, company for more than 43 years, including stints as acting senior executive vice president and chief financial officer. Junquera will receive a $3.1 million separation payout and vested stock awards received from his tenure.

It's been an eventful year for Popular, which exited the Troubled Asset Relief Program after repaying $935 million in June. The company also sold its branches in three U.S. markets.

The $36.5 billion-asset company has been buoyed by its operations in markets such as New York and southern Florida, which it retained. The parent of Banco Popular also named Ignacio Alvarez its president and chief operating officer in September.