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Home > About GDB > Gallery of Presidents

Gallery of Past Presidents


Juan Agosto Alicea (2001-2002)

Juan Agosto Alicea graduated with honors from the School of Business Administration of the University of Puerto Rico in 1957. In 1966, he obtained the Certified Public Accountant license. After graduation, he worked with the firm Arthur Andersen & Co., the Puerto Rico Industrial Development Company, Peat, Marwick & Mitchell, and the U.S. Department of Housing and Urban Development.

He joined Peat Marwick & Mitchell again in 1966. He began as auditor and was promoted to Supervisor in 1967, Manager in 1969 and Partner in 1971. Agosto Alicea served as Secretary of the Treasury of Puerto Rico from January 1985 to August 1989. His accomplishments as Treasury Secretary include: reducing the Department's payroll by 15%; overseeing the design and implementation of a modern computerized accounting system for the central government, which allowed, for the first time ever, to issue the financial statements of the Commonwealth of Puerto Rico certified by an international firm of independent auditors; advocating for the enactment of a comprehensive tax reform, and overseeing the design and implementation of a computerized system to process tax returns under the new tax system.

In addition to serving as Treasury Secretary, Agosto Alicea presided over the Governor's Council of Economic Advisors and the Boards of Directors of the GDB, Puerto Rico Aqueduct and Sewer Authority (PRASA), Infrastructure Financing Authority, and the Board of Trustees of the Commonwealth Retirement System for Employees of the Government and its instrumentalities. In 1995 and 1996, he served as Administrator of the Municipality of San Juan.

Agosto Alicea was president of the Certified Public Accountants Association of Puerto Rico, and United Funds of Puerto Rico. Through December 2000, he devoted part of his time to working as financial and management advisor. In January 2001, Governor Sila M. Calderón appointed Agosto Alicea as Chairman and President of the Government Development Bank.

While at the helm of the GDB, Agosto Alicea renegotiated a management contract for PRASA's services; the approval and disbursement processes for financing to municipalities were radically improved, and the government's extra-constitutional debt was restructured through a 30-year refinancing.

In addition, the Puerto Rico Housing Finance Corporation and the Puerto Rico Housing Bank merged into a newly created subsidiary of the GDB, the Puerto Rico Housing Finance Authority (PRHFA). In May 2002, upon celebrating 60 years of service, the GDB created the José M. Berrocal Institute for Economics and Finance as a subsidiary in order to provide specialized training in public finances and economics to young professionals.

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