July 17, 2013 / 1:11 PM / 4 years ago

Chief of Puerto Rico Gov't Development Bank resigns-governor

July 17 (Reuters) - The president of Puerto Rico's Government Development Bank, Javier Ferrer, will resign on July 29 after seven months as head of the Caribbean island's fiscal agent, according to the governor's office.

GDB Executive Vice President José Pagán will become interim president, according to a release that Governor Alejandro Garcia Padilla issued late on Tuesday.

GDB Board Chairman David Chafey, who was appointed by Garcia Padilla along with Ferrer, will remain in his position, the governor said. Ferrer will continue as a financial affairs adviser to the governor.

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