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Home > About GDB > Gallery of Presidents

Gallery of Past Presidents

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Antonio Faría Soto (2003-2004)

Antonio Faría received a bachelor's degree in Business Administration from the Pontifical Catholic University and a master's degree in Finance from the Inter American University of Puerto Rico. He began his professional career with Citibank in 1971 as Executive Trainee and held several branch-level positions. In 1975, Faría Soto was promoted to Corporate Banking Division Manager and, from 1977 to 1978, he collaborated in the project to establish the Division of Financing to Financial Institutions.

In May 1978, he joined Banco Central y Economías were he was responsible for organizing the Corporate Banking area. Faría Soto served in high-level positions and in 1994 was promoted to Executive Vice President. His responsibilities included those of Senior Lending Officer and Chief Operating Officer. He held that position until October 1996 when the sale of Banco Central to Banco Santander was completed. In 1998, he joined PaineWebber, Inc. of P.R. as Senior Vice President in the Investment Banking Division. He was promoted to Executive Vice President and Chief Operating Officer and appointed to the Board of Directors of PaineWebber Trust Company of Puerto Rico.

In January 2001, Faría Soto answered Governor Sila María Calderón call to public service and held the position of Commissioner of Financial Institutions after being unanimously confirmed by the Puerto Rico Senate. In mid 2002, he was designated President of the Economic Development Bank for Puerto Rico. On November 17, 2003, he was appointed President of the GDB by the Governor Calderón.

Under his leadership, the GDB approved financing for the San Jerónimo Caribe Project in the amount of $27 million for the construction of the multilevel parking of Paseo Caribe. This residential, resort and entertainment complex was built near the Caribe Hilton Hotel in Condado. Financing in the total amount of $94 millionwas also granted to rehabilitate and build the Vanderbilt and La Concha hotels. At the end of 2003, Standar & Poor's withdrew the credit watch previously assigend to the government debt and raised the credit rating of short-term notes (TRANs) from SP-1 to SP-1+ in recognition of Puerto Rico's strict adherence to the soundest practices of financial administration.

 
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