PR Lender Appoints CFO, CAO

Published March 30, 2006, 3:00 p.m. EST

1 Min Read

Doral Financial Corp., San Juan, P.R., the largest mortgage lender on the island, has named Lidio Soriano as its chief financial officer.Since August 2005, he had been occupying the post on an interim basis. The company is in the process of wrapping up the restatement of its earnings from between 2000 and 2004 because of issues with the accounting of mortgage loan sales. John A. Ward III, chairman and chief executive, said, "We are pleased with Mr. Soriano's outstanding contribution during the restatement process. His financial and accounting experience, and his familiarity with the residential mortgage market make him an ideal fit for Doral as we continue to rebuild our senior management team. Among his previous positions includes being president of Doral Money, a New York-based commercial and construction mortgage lender. In addition, Doral said that Arturo Tous has been promoted to chief accounting officer.

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