The Government Development Bank for Puerto Rico last week announced staff appointments to its management team.

Fernando Batlle, as executive vice president and director of financing, will work on bond financing transactions, a position previously held by Luis Alfaro under the prior administration.

Since 2005, Batlle has been an independent financial consultant to businesses in Puerto Rico and the Dominican Republic. He also was executive vice president of FirstBank Puerto Rico and managing director at Neva Management Corp., an investment management firm.

Batlle has an MBA from Harvard Business School and a bachelor’s degree from Northeastern University.

“With the experience, commitment, and talent that we have gathered in the GDB’s new management, we believe we have the right team in place to safeguard our credit, implement fiscal discipline, and direct the execution of Puerto Rico’s economic development,” said GDB president Carlos García in a press release.

In addition to Batlle, William Lockwood returns to the GDB as the bank’s executive vice president and director of enhanced fiscal agent functions.

Lockwood was president of the GDB in 2005, and from 1989 to 1993 he was vice president and aide to three GDB presidents, Ramón Cantero Frau, José M. Berrocal, and Marcos Rodríguez Ema.

Lockwood specializes in fiscal and financial strategies and has advised banks such as Grupo Guayacán, Banco Popular, Merrill Lynch & Co., Banco Santander, Citi, and the GDB on capital markets and risk management, and economic policy innovation.

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