Grupo Aval announced that, at the meetings of the boards of directors of Banco de Occidente held on June 23, 2023, the entities defined changes in the leadership of these banks according to previously established succession plans. The board of directors of Banco de Occidente appointed Mr. Gerardo Silva Castro as its new President. Mr. Silva has been a member of the bank since 1994 and has been serving as Vice president of Commercial Segment since 2014.

In addition, the board of directors of Banco de Bogotá appointed Mr. César Prado Villegas, current President of Banco de Occidente, as its new President. César has been a member of Grupo Aval in multiple positions for almost 14 years, successfully acting as President of Banco de Occidente since 2018. Under his leadership, Banco de Occidente managed to consolidate milestones of good performance, improving all of its business lines, increasing its market share, and improving its profitability indicators.

Mr. Prado is a lawyer who graduated from Universidad del Rosario, with postgraduate studies in Business Law from the Universidad de los Andes and a Master´s Degree in Law from the London School of Economics. He has extensive experience in the financial industry and has held various executive positions in important public and private institutions in the sector throughout his career. Mr. Silva holds a degree in Civil Engineering from the Universidad Javeriana in Bogotá, and an MBA from Babson College in Wellesley, Massachusetts, USA.

He has also completed programs as a Senior Executive in Governance with the Universidad Icesi and in Transformative Business Leadership with the Center for Leadership and Management.