Jorge Valencia To Head Up BBVA Provida

Investment banker Jorge Valencia is to become the new chief investment officer at Chile’s largest pension fund administrator BBVA Provida, from the beginning of May, reports local daily El Mercurio. Valencia, who moves from JP Morgan in New York, takes over from Joaquín Cortez to manage the $24 billion portfolio. Cortez will assume control of pension funds in Latin America for BBVA.