Richard Carrión

Carrión was born and raised in San Juan, Puerto Rico. His grandfather, Rafael Carrión Sr., was one of the founders of Popular, Inc. (BPPR). He received a bachelor's degree from the Wharton School of Finance and Commerce in 1974 and an MS in Management Information Systems from the MIT Sloan School of Management in 1976. After the master's degree, Carrión joined Banco Popular in 1976. After his father's death, Carrión became the leader of the banking corporation.

Carrión is currently married to Isabella Heseltine. He was previously married to Conxita Viñamata Martorell, with whom he had a son, Rafael Luis. Carrión has 4 children from his first marriage to Ana Matienzo Carrion: Io Ana, Richard Jr., Ceciliana and Ana Sofía. Carrión is the cousin of Puerto Rican actress and radio talk show host Camille Carrión.

For almost three decades, Carrión has divided his time between Popular and philanthropy, particularly emphasizing on education and sports. He is the founder and trustee of the Banco Popular Foundation; which, among other charities, has donated scholarships to over 1,000 students through the Rafael Carrión, Jr. Scholarship Fund. He currently serves on the board of directors of Verizon. Since 1992, Carrión has also been involved in the production of music videos that highlight Puerto Rico's musical culture and history. In 2007, he was appointed a member of the International Basketball Federation (FIBA) Finance Commission.

Carrión has also contributed to improving Puerto Rico's public education system. He participated in Sapientis Week, an initiative sponsored by the non-profit Sapientis which brings public figures into classrooms in order to raise the public's awareness of the education crisis in Puerto Rico.