Former Colombian Energy Minister assumes the presidency of Banco de Bogotá and is a finalist for the IRENA directorship

Former Colombian Minister of Mines and Energy, María Fernanda Suárez Londoño , was appointed as the new president of Banco de Bogotá, becoming the first woman to hold the top executive position of the financial institution in almost 156 years of history.

The appointment was confirmed on October 30 by the bank's Board of Directors, after accepting the resignation of Juan Carlos Echeverry Garzón, who had served for just over five months. Suárez took over on November 1, after leading Banco Popular, also part of Grupo Aval, for three years.

With more than 30 years of experience in the public and private sectors, the executive has held strategic positions in the financial, energy and corporate fields, including the presidency of Accenture Colombia and the Executive Vice Presidency of Strategy and Finance at Ecopetrol.

Between 2018 and 2020, during the government of Iván Duque, she served as Minister of Mines and Energy, a period in which Colombia made progress in diversifying its electricity matrix and promoting non-conventional renewable energies.

She also spent part of her career at the Ministry of Finance, Porvenir, Citibank, and Bank of America. Currently, she serves on the boards of directors of Corficolombiana, Promigas, and Aval Valor Compartido.

The challenges at the helm of Banco de Bogotá

Suárez's arrival comes in a context of leadership renewal at the institution, with the aim of strengthening its profitability, promoting sustainable growth and consolidating its position in the Colombian financial system.

During her tenure at Banco Popular, the executive spearheaded a commercial and operational transformation, with a particular focus on the so-called "silver economy," targeting clients over 50 years of age. This strategy allowed the bank to consolidate a customer base of approximately 160,000 clients in that segment.

She is also running for Director-General of IRENA

The appointment coincides with another challenge in her international career. Suárez was selected by the Council of the International Renewable Energy Agency (IRENA) as one of two finalists to head the agency, along with Egyptian Wael Aboulmagd.

The election will be held between January 9 and 11, 2027, during the 17th IRENA Assembly in Abu Dhabi, United Arab Emirates. The term of office will be four years, with the possibility of renewal.

As previously reported by Energía Estratégica, the selection process began with 125 applications, 13 of which were from candidates in Latin America and the Caribbean.

If elected, Suárez could take another leap in her international career, moving from leading one of Colombia's main financial institutions to heading a key organization for the global energy transition. Her potential appointment would also raise questions about her continued leadership of Banco de Bogotá, a position she recently assumed.