Ignacio Alvarez is the Chief Executive Officer of Popular, Inc., Puerto Rico’s leading financial institution with assets exceeding $70 billion and operations on the island as well as in the mainland United States and the Virgin Islands. Popular, Inc. ranks among the top 50 bank holding companies in the United States. Alvarez leads a team of 9,000 employees, serving more than 2 million customers in Puerto Rico and delivering a wide range of personal and commercial banking solutions.
Alvarez served as Chief Executive Officer and President from 2017 to 2024, President and Chief Operating Officer from 2014 to 2017 and Chief Legal Officer from 2010 to 2014.
Under his leadership, Popular has successfully executed on several strategic initiatives, posting positive results in Puerto Rico and overseeing the restructuring of the mainland United States operations. Alvarez guided the expansion of the auto finance business, through the acquisition of Wells Fargo & Company’s auto business in Puerto Rico and a transaction to acquire key customer-facing channels from Evertec to accelerate a digital transformation and enhance client experience.
Following the devastation of Hurricanes Irma and Maria, Alvarez led post hurricane recovery efforts to restore operations, effectively addressing the needs of our customers, employees, communities and regulators.
Prior to joining Popular, Alvarez was one of the founding partners of Pietrantoni Mendez & Alvarez LLP, a premier law firm in Puerto Rico. He specialized in corporate and banking law and was vital to the firm’s success for 18 years. Alvarez holds a bachelor’s degree from Georgetown University – School of Foreign Service and a law degree from Harvard Law School. He serves on the board of directors of Fundación Banco Popular, Popular Bank Foundation and Endeavor Puerto Rico. He is also a member of the Bank Policy Institute and the Puerto Rico’s Bankers Association.