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Home > About GDB > Gallery of Presidents

Gallery of Past Presidents


Carlos M. García (2009-2011)

Carlos M. García was appointed Chairman of the Board and President of the Government Development Bank for Puerto Rico (GDB) on December 31, 2008, by Luis Fortuño, upon his inauguration as Governor of Puerto Rico. As head of the GDB, García played a key role in the Administration’s program to achieve fiscal stabilization and financial reconstruction of the central government and the revitalization of Puerto Rico’s economy.

Before entering public service, García had a long, distinguished career in the banking and financial services industry in Puerto Rico and on Wall Street. Prior to GDB, García was associated for more than a decade with Santander BanCorp, the holding company for Banco Santander Puerto Rico, one of the largest banks on the Island. His last appointment was as President of Banco Santander Puerto Rico.


García first joined Santander in 1997 as Director of the Investment Banking Department of Santander Securities. In 2001, he was named President and CEO of Santander Securities. He also served as Executive Vice President of Wholesale Banking at Banco Santander Puerto Rico. In 2004, he was named Executive Vice President and Chief Operating Officer of Santander BanCorp and Banco Santander Puerto Rico.


García also served as a member of the Board of Directors of Santander BanCorp and several of Santander BanCorp’s subsidiaries and affiliates, including Banco Santander Puerto Rico, Santander Securities, Santander Asset Management Corporation, Santander Insurance Agency, Inc., Santander Financial Services, Inc., Island Insurance Corporation, Crefisa, Inc. and Santander Overseas Bank, Inc.

Prior to Santander, García was with Credit Suisse First Boston and its successor Popular Securities. He served as a Director of the Make-a-Wish Foundation of Puerto Rico and was a member of the Puerto Rico Bankers Association. García received a dual degree from the University of Pennsylvania, in Business from the Wharton School and in Comparative Literature from the College of Arts and Sciences.

After more than two years at the helm of the GDB and the fiscal reconstruction effort, García returned to the private sector.

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