Doral Financial Corporation Appoints Calixto (Cali) Garcia-Velez as Chairman and CEO of Doral Bank Puerto Rico

Strategic Insights -

Doral Financial Corporation, a diversified financial services company, has appointed Calixto (Cali) Garcia-Velez as the Chairman and Chief Executive Officer (CEO) of Doral Bank Puerto Rico. Garcia-Velez joins Doral from Citigroup, where he served as president of Citibank West, FSB, with assets of $109.6 billion and approximately 12,800 employees. In his new role, he will be responsible for accelerating the consumer growth strategies at both Doral Bank Puerto Rico and Doral Financial Corporation, as well as adding new products to the overall portfolio. Garcia-Velez will report to Glen Wakeman, President and CEO of Doral Financial Corporation.

Garcia-Velez brings over 25 years of experience in the financial services industry, including his tenure as president of Citibank Florida and business manager of Citibank North America's South division. He began his professional career in 1990 with First Union Bank as a management associate in Florida. Garcia-Velez will relocate to Puerto Rico with his family in September and will be responsible for overseeing the development of new commercial activities, including development and construction lending at Doral Bank Puerto Rico.

"We are very pleased that Cali Garcia-Velez has joined Doral's new senior management team," said Glen Wakeman. "With years of experience in the Hispanic market, he brings to Doral strong expertise in consumer banking and a strong record of professional management success."

Garcia-Velez holds both a Bachelor's and Master's degrees from the University of Miami in Coral Gables, Florida.

Key Takeaways:

  • Doral Financial Corporation has appointed Calixto (Cali) Garcia-Velez as the Chairman and CEO of Doral Bank Puerto Rico, effective September 2023.
  • Garcia-Velez is a seasoned financial services professional with over 25 years of experience, joining Doral from Citigroup where he served as president of Citibank West, FSB, with assets of $109.6 billion and approximately 12,800 employees.
  • Garcia-Velez will oversee the development of new commercial activities, including development and construction lending at Doral Bank Puerto Rico.
  • He will report to Glen Wakeman, President and CEO of Doral Financial Corporation.
  • Doral Financial Corporation's forward-looking statements are in effect, cautioning readers to not rely solely on these statements due to inherent risks and uncertainties.

Statistics:

  • $109.6 billion: Assets of Citibank West, FSB, under Garcia-Velez's previous tenure.
  • 12,800: Approximate number of employees at Citibank West, FSB, under Garcia-Velez's previous tenure.
  • 1990: Year Garcia-Velez began his professional career with First Union Bank as a management associate in Florida.
  • 1993: Year Garcia-Velez joined Citibank Florida as a financial center manager.
  • 25 years: Length of Garcia-Velez's experience in the financial services industry.

Sources:

  • Doral Financial Corporation press release, dated [no date mentioned]
  • Citigroup's website, Calixto (Cali) Garcia-Velez's biography
  • University of Miami, Calixto (Cali) Garcia-Velez's alumni profile