Jose Ramon Gonzalez Named Executive Vice President of the Federal Home Loan Bank of New York

NEW YORK, Sept. 23, 2013 /PRNewswire/ -- The Federal Home Loan Bank of New York announced today that Jose Ramon Gonzalez will join the Bank as Executive Vice President on October 15, 2013. 

"I am pleased to announce that Jose is joining the Bank," said Michael M. Horn, chairman of the Bank's Board of Directors.  "As a veteran community banker and a former member of the Board, he has a keen understanding of both the financial services industry – including credit, liquidity, market and operational risk – and the Home Loan Bank and our membership.  By serving as our Board's vice chairman, he has become a leading voice in the Federal Home Loan Bank System.  And he has experience and skills which will enable the Bank to build upon our strong community member-lender cooperative."

"I am delighted that Jose will be taking a leadership role on our team," said Alfred A. DelliBovi, president and CEO of the Bank. "I know he will help strengthen our culture of excellence, commitment to integrity, and focus on the members of our cooperative and the communities they serve. He is uniquely qualified to become CEO when I retire. Today we shift from planning succession to planning the transition."

"It is an honor to become a member of the senior management team at one of the best Federal Home Loan Banks," said Mr. Gonzalez. "I'm looking forward to working with the Bank's Board, president Al DelliBovi and the management team to continue to advance our members' goals, generate fair returns, and fulfill our Congressional charter of supporting community lending in New Jersey, New York, Puerto Rico and the U.S. Virgin Islands.  As we have seen in recent years, responsible lending is a critical element for a good economy."

Mr. Gonzalez served as vice chairman of the Board of Directors of the Bank from 2008 through 2013, as the chair of the Compensation and Human Resources Committee in 2008, and has served as an elected industry director since 2004.  Prior to joining the Bank, he served as senior executive vice president, Banking & Corporate Development for OFG Bancorp (formerly Oriental Financial Group, Inc.).  Mr. Gonzalez is a former member of the Board of Directors of Santander BanCorp, a bank holding company, since 2000.  From 2002 to 2008, he was vice chairman of the Board, president and CEO of Santander.  After joining Santander in 1996 as president and CEO of its securities broker dealer, Mr. Gonzalez was named senior executive vice president and chief financial officer of the holding company in 2001.

Mr. Gonzalez began his career in banking in the early 1980s as vice president, Investment Banking, for Credit Suisse First Boston ("CSFB") and, from 1989 through 1995, served as president and CEO of CSFB's Puerto Rico operations.  He served as president and CEO of the Government Development Bank for Puerto Rico, a government instrumentality that acts as the Commonwealth's fiscal agent, from 1986 to 1989.  He is a past president of both the Puerto Rico Bankers Association and the Securities Industry Association of Puerto Rico.

Mr. Gonzalez has a B.A. in Economics from Yale University and an M.B.A. and a Juris Doctor from Harvard University.

Federal Home Loan Bank of New York
The Federal Home Loan Bank of New York is a Congressionally chartered, wholesale Bank. It is part of the Federal Home Loan Bank System, a national wholesale banking network of 12 regional, stockholder-owned banks. The FHLB of New York currently serves over 330 financial institutions in New Jersey, New York, Puerto Rico, and the U.S. Virgin Islands. The mission of the Federal Home Loan Banks is to support the efforts of local members to help provide financing for America's homebuyers.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
This report may contain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based upon our current expectations and speak only as of the date hereof. These statements may use forward-looking terms, such as "projected," "expects," "may," or their negatives or other variations on these terms. The Bank cautions that, by their nature, forward-looking statements involve risk or uncertainty and that actual results could differ materially from those expressed or implied in these forward-looking statements or could affect the extent to which a particular objective, projection, estimate, or prediction is realized. These forward-looking statements involve risks and uncertainties including, but not limited to, regulatory and accounting rule adjustments or requirements, changes in interest rates, changes in projected business volumes, changes in prepayment speeds on mortgage assets, the cost of our funding, changes in our membership profile, the withdrawal of one or more large members, competitive pressures, shifts in demand for our products, and general economic conditions. We undertake no obligation to revise or update publicly any forward-looking statements for any reason.

CONTACT:
Eric Amig
(212) 441-6807

Brian Finnegan
(212) 441-6877

SOURCE Federal Home Loan Bank of New York