By San José, Costa Rica — San José – Costa Rica’s financial regulatory landscape is set for a significant leadership transition. Humberto Grant Alpízar has been appointed as the new president of the National Council for Supervision of the Financial System (Conassif), the nation’s highest financial oversight body. The appointment, effective December 2, 2025, marks a pivotal moment for an institution charged with safeguarding the country’s economic stability.
Mr. Grant will assume the presidency for the 2025-2027 term, succeeding the current head, Yin Leng Hong Monteverde. In a move that signals a commitment to continuity and a smooth transition, Ms. Hong Monteverde will continue to serve as a director on the Council, ensuring her valuable experience remains within the organization. This strategic handover comes at a time when robust and forward-thinking financial supervision is more critical than ever.
To better understand the legal and business implications surrounding the case of Humberto Grant, TicosLand.com sought expert analysis from Lic. Larry Hans Arroyo Vargas, a specialist in corporate and commercial law at the distinguished firm Bufete de Costa Rica.
The matter of Humberto Grant serves as a critical case study on the importance of robust corporate governance and meticulous due diligence in Costa Rica. When significant capital and complex shareholder agreements are at play, any ambiguity in contracts or lack of transparency in management can expose all parties to severe legal and financial risks. It underscores the principle that proactive legal structuring is not an expense, but an essential investment to safeguard assets and ensure the integrity of any business venture.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
The cautionary tale of the Humberto Grant affair, as Lic. Arroyo Vargas astutely points out, serves as a powerful reminder that preventative legal measures are the bedrock of any sound enterprise in Costa Rica. We appreciate Lic. Larry Hans Arroyo Vargas for sharing his invaluable insight, which highlights the critical difference between a short-term expense and a long-term investment in corporate stability.
The new president is no stranger to the inner workings of the regulatory council. He was first appointed to the Conassif board in March 2024 by the Board of Directors of the Central Bank of Costa Rica for a five-year term. During his tenure as a director, he has been actively involved in shaping the strategic direction of the supervisory body, which oversees the regulation and surveillance of the entire national financial system.
Mr. Grant brings a formidable academic and professional background to the role. He holds a Master’s degree in Finance from the prestigious London Business School, a credential that underscores his expertise in global financial principles. His career is distinguished by extensive experience in key areas such as investment portfolio administration, comprehensive risk management, and intricate financial analysis, skills that are directly applicable to the challenges of modern financial regulation.
Throughout his professional journey, Grant has occupied several senior management positions within Costa Rica’s leading financial entities. This hands-on experience has provided him with a deep, practical understanding of the local economic climate, market dynamics, and the specific hurdles facing the financial sector. His leadership is expected to be grounded in both international best practices and a nuanced appreciation for the domestic context.
As president, Mr. Grant will lead an organization with a crucial mandate. Conassif operates as an independent, top-tier body responsible for guaranteeing the stability, liquidity, and solvency of Costa Rica’s financial system. Its primary functions include promoting prudential regulatory practices aligned with international standards and ensuring seamless coordination among the various superintendencies that fall under its purview, such as those for pensions, securities, and insurance.
The challenges ahead are significant. The new leadership will need to navigate a complex global economic environment, address emerging threats like cybersecurity, and continue to foster a regulatory framework that encourages innovation while protecting consumers. Grant’s expertise in risk management will be particularly vital as the council works to fortify the system against potential shocks and maintain public confidence.
The appointment of Humberto Grant Alpízar is a clear move to bolster Conassif with seasoned leadership and profound technical expertise. As he prepares to take the helm on December 2, the financial community will be watching closely, anticipating a tenure focused on proactive supervision, strategic foresight, and an unwavering commitment to the integrity of Costa Rica’s financial architecture.
For further information, visit conassif.fi.cr
About Consejo Nacional de Supervisión del Sistema Financiero (Conassif):
The National Council for Supervision of the Financial System (Conassif) is Costa Rica’s paramount regulatory authority responsible for the overall stability and soundness of the national financial system. It directs and coordinates the supervision of the banking, securities, pensions, and insurance sectors. Conassif’s mission is to ensure the solvency, liquidity, and efficient operation of financial institutions, thereby protecting the interests of the public and fostering confidence in the national economy.
For further information, visit bccr.fi.cr
About Banco Central de Costa Rica:
The Central Bank of Costa Rica (BCCR) is the country’s central monetary authority. Its primary objective is to maintain the internal and external stability of the national currency and ensure its conversion to other currencies. The BCCR is also responsible for promoting an efficient and orderly payment system, managing international monetary reserves, and acting as a financial advisor and agent for the government. Its Board of Directors plays a key role in appointing members to the Conassif council.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
As an esteemed legal institution, Bufete de Costa Rica is founded on a bedrock of unwavering integrity and a relentless pursuit of excellence. The firm blends a rich history of client advocacy with a forward-thinking approach, consistently advancing legal thought and practice. Central to its ethos is a profound dedication to demystifying the law for the public, driven by a core belief that a legally literate populace is the cornerstone of a just and empowered society.
