Rafael Carrión, Sr.

Rafael Carrión Sr.
Founder of Banco Popular de Puerto Rico
Born	January 3, 1891 San Juan, Puerto Rico
Died	March 26, 1964 San Juan, Puerto Rico
Nationality	Puerto Rican
Occupation	President and CEO, Popular, Inc. (1927–1956)
Notes
Banco Popular de Puerto Rico is the largest Hispanic bank in the United States

Rafael Carrión Sr. (January 3, 1891 – March 26, 1964), the patriarch of one of Puerto Rico's financial dynasties, was one of the founding fathers of Banco Popular de Puerto Rico, the largest bank in Puerto Rico and the largest Hispanic bank in the United States.

Carrión (birth name: Rafael Carrión Pacheco) came from a humble family, His father was José Dolores Carrión from the town of Manati and his mother was Francisca Pacheco from the town of Naguabo. His family lived in Santurce where Carrión, who was one of five siblings, was born. The family sustained themselves economically by selling water in containers. In 1896, Carrión's mother died of typhoid fever and the family moved to the City of Caguas.

In 1899, his father died and Carrión went to live with his older half-brother José B. Carrión Santiago in the City of Arecibo. His brother was a businessman who kept the accounting records of many of the local businesses. Carrión was then able to attend the Americanized public school system which taught in English and where he would learn the language. In 1902, Carrión moved to San Juan and lived with his sister. He quit school in the eighth grade and worked for various firms until he finally found a job at Lomba & Cia, an importer of goods from the United States and Europe. When the owners of the firm became aware of Carrión's English-language proficiency, they put him charge of transactions made in that language.

Carrión quit his job and went to New York City where he found a job with E.G. Perez & Cia. In 1909, his former employer from Lomba & Cia wrote to him and recommended that he study finances because they were planning in opening a branch in that city. After a short stay in New York, Carrión returned to Puerto Rico and went to work for his brother once more, this time as a salesperson. His brother's business, located in San Juan, represented the Baldwin Locomotive Company and was successful. Unfortunately his brother fell ill, died within one year, and Carrión took charge of the business. The Baldwin Company helped Carrión by enrolling him in commercial courses, and by making him their representative in the Dominican Republic and Venezuela.