UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934

For the month of November, 2010.

Comission File Number 001-32535

Bancolombia S.A.
(Translation of registrant’s name into English)

Cra. 48 # 26-85
Medellín, Colombia
(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F þ                    Form 40-F ¨

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):¨

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(2):¨

Indicate by check mark whether the registrant by furnishing the information contained in this form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes ¨                    No þ

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-                    .
 
 
 
 
 

BANCOLOMBIA S.A. APPOINTS NEW PRESIDENT

Medellin, Colombia, November 26, 2010

At an extraordinary meeting held today, the Board of Directors of Bancolombia appointed Mr. Carlos Raul Yepes Jimenez as the new President of Bancolombia.
Mr. Yepes has been Corporative Vice-President of Argos for 7 years and today is a current member of the Board of Directors of Bancolombia, where he also worked as Legal Director for 9 years.

Mr. Yepes will join Bancolombia as president in February 2011, upon authorization by the Colombian Superintendency of Finance (SFC).
 

 
 
 
 
SIGNATURE
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 
BANCOLOMBIA S.A.
(Registrant) 
   
Date:  November 26, 2010 
By:  
/s/  JAIME ALBERTO VELÁSQUEZ B.
   
Name:  
Jaime Alberto Velásquez B.
   
Title:  
Vice President of Finance