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FDIC's Forum on Mortgage Lending to Low and Moderate Income Households - Biography of Richard L. Carrión
Photo of Richard L. Carrion

Richard L. Carrión is the Chief Executive Officer and Chairman of the Board of Popular, Inc., a publicly traded financial holding company with more than $45 billion in consolidated assets. Today, Banco Popular, a wholly owned subsidiary of Popular, Inc., is Puerto Rico's leading depository institution, the largest Hispanic-owned bank in North America, and one of the 30 most important financial institutions in the Americas. 

After obtaining a Bachelor's Degree from Wharton School of Finance at the University of Pennsylvania and receiving a Master’s Degree in Information Services from the Massachusetts Institute of Technology (MIT), Mr. Carrión joined Banco Popular in 1976. 

From the outset, the young entrepreneur developed and implemented innovative initiatives while driving the bank's growth and profitability. While Mr. Carrión was President of Banco Popular, Popular completed the acquisition of various financial institutions, including Banco de Ponce, Banco Roig, Seminole Bank, First State Bank of Southern California, Gore Bronson Bancorp in Chicago and Aurora National Bank. At the time of the acquisition, Banco de Ponce was the second largest bank in Puerto Rico. Recently, he also headed Popular’s recent acquisition of Quaker City, a savings and loan holding company for Quaker City Bank, based in Whittier, California, and Kislak National Bank, a Florida-based commercial bank. 

In the information technology arena, Mr. Carrion’s vision brought the first network of ATMs to Puerto Rico and many other Latin American countries, and also spearheaded the successful migration from paper to electronic transactions.  In 1999, after the acquisition of GM Group, Inc., the largest data processing center in the Caribbean, Popular consolidated its leadership role in the technological arena, thus creating EVERTEC, a new leader in information technology.

Mr. Carrión’s enthusiasm and energy in professional matters is coupled with a sense of deep social justice. For almost three decades Mr. Carrión has given great priority to the task of juggling his time between corporate America and philanthropy; placing particular emphasis on education and sports. He has been a member of the International Olympic Committee (IOC) since 1990 and currently chairs the Finance Commission and the Audit Committee.  Also, is a member of the IOC’s Marketing, TV and Internet Rights Commissions.  Mr. Carrión led the negotiation team for the U.S. broadcast of the 2010 and 2012 Olympic Games - generating $2 billion in revenue - and was elected to the IOC Executive Board in 2004. In 2007, he was appointed as a member of the International Basketball Federation (FIBA) Finance Commission. In 2008, he was elected for a three-year term as class A director of the Federal Reserve Bank of New York. 

He is the founder and trustee of the Banco Popular Foundation; which, among other charities, has donated scholarships to over 1,000 students through the Rafael Carrión, Jr. Scholarship Fund. He currently serves on the board of directors of  Verizon.     

Mr. Carrión, a native of San Juan, Puerto Rico, is married to Conxita Martorell and has five children:  Io Ana, Richard, Ceciliana, Ana Sofía and Rafael Luis.

Last Updated 06/12/2008

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