First Bancorp (FBP) said it promoted Aurelio Alemán, currently Senior Executive Vice-President and Chief Operating Officer, as President and Chief Executive Officer of the company. Alemán succeeds Luis Beauchamp who led the company from 2005 until now. The Board of Directors also elected José Menéndez-Cortada, currently Lead Independent Director, as Non-Executive Chairman of the Board of the Corporation. Both the appointments would be effective immediately.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.