Luis M. Beauchamp became the President and CEO of First BanCorp on September 30, 2005, following a solid career in finance. Before this role, he was the Senior Executive Vice President in Wholesale Banking at FirstBank Puerto Rico. His track...
Luis M. Beauchamp became the President and CEO of First BanCorp on September 30, 2005, following a solid career in finance. Before this role, he was the Senior Executive Vice President in Wholesale Banking at FirstBank Puerto Rico. His track record shows significant depth in banking, having started with Chase Manhattan Bank where he managed operations in various countries. Beauchamp was at the forefront of guiding First BanCorp through challenging financial times, including crafting strategies that led to a successful $520 million recapitalization in 2011. Although he lacks a formal university degree, his extensive experience and executive roles have shaped his expertise in the finance sector. Interestingly, his compensation in recent years reached over $2 million in 2013, largely due to a mix of salary, bonuses, and stock values from restricted stock grants. As a director of several subsidiaries, Beauchamp plays a significant role in multiple financial ventures, indicating a strong commitment to broad leadership within the bank. Though he's had his ups and downs, his leadership has been pivotal for First BanCorp's strategy and operational success, particularly in competitive financial environments.