Mario Farren Risopatron began this week his administration at the Superintendency of Banks and Financial Institutions (SBIF) in Chile. The new superintendent was elected by President Sebastián Piñera. Since it is a position that depends on the President’s trust, he does not have a pre-established term for the role. Risopatrón takes office after Eric Parrado presented his resignation.

Mario Farren Risopatron, is a commercial engineer from the University of Chile and has obtained a master’s degree in business administration from the University of Chicago. He has worked for 27 years at Citibank, where he became president of Citibank Perú in 2016.

The SBIF is the autonomous entity that deals with the auditing of banking companies and financial entities in Chile. At the same time, it is governed by the General Bank Law and is linked to the Executive by the Ministry of Finance. It should be noted that, as a result of the discussion of the new Banking Modernization Law, this institution could be absorbed by the Financial Market Commission.