Peru's Superintendency of Banking, Insurance and Private Pension Fund Administrators (SBS) announced that Mario Zambrano Berendsohn will take up the role of deputy superintendent for cooperatives from February 2025 after winning a public competition held to fill the post under Law No. 30822, which empowers the SBS to supervise savings and credit cooperatives (Coopac). The selection process was run by an executive search firm and overseen by a panel of experts, starting in October and concluding in mid-December 2024, with 300 applicants assessed through multiple evaluation stages. Zambrano Berendsohn’s background includes senior roles in financial regulation and supervision in Peru and abroad, including at the Superintendence of the Securities Market, the International Monetary Fund, the Central Bank of Chile, the SBS and the Central Reserve Bank of Peru. The appointment forms part of the second stage of implementing Law No. 30822, aimed at stabilising and strengthening Coopac and applying proportional regulation while recognising cooperative principles. The SBS also pointed to the planned operation of the Cooperative Deposit Insurance Fund (FSDC) in 2025 alongside ongoing supervisory support.

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