Two Government Development Bank board members are stepping down from their posts, saying, among other things, that the recently approved Puerto Rico Emergency Moratorium and Financial Rehabilitation has restricted the scope of their authority to make important decisions.
Héctor Mayol, who headed the Commonwealth Retirement Systems in Puerto Rico since 2009, is stepping down from the post effective Aug. 31, the public servant announced Thursday.
Javier Hidalgo-Blázquez, President and CEO of Santander BanCorp and Santander Puerto Rico, resigned to his positions to assume new responsibilities within the bank’s parent company, Grupo Santander in Spain. However, bank officials did not say Thursday when his resignation will take effect.