President Leonel Fernandez appointed new members to the Monetary Board. The members of the board that approves monetary policy are now Governor of the Central Bank Hector Valdez Albizu, Finance Minister Vicente Bengoa, Superintendent of Banks Rafael Camilo, Hector Rizek Llabal (San Francisco de Macoris businessman closely related to the former major shareholder of the salvaged Banco Mercantil), Manuel George Hazoury (formerly of the Banco Gerencial y Fiduciario, bought out by the BHD Bank, and the governmental Banco de Reservas), businessman Miguel Feris Iglesias (of the Cesar Iglesias manufacturing group and former president of the board of directors of the La Nacional de Ahorros y Prestamos loans and savings entity), engineer Ramon Nunez Ramirez (a TV and Hoy economic news commentator with the Grupo Corripio), electrical engineer Cesar Nicolas Penson (former president of the Association of Industries of Herrera), and businessman Emilio de Luna Peguero. Consuelo Matos de Guerrero (formerly director of the National Housing Bank-BNV during the past Fernandez government) was appointed secretary of the Monetary Board. Another member is Pedro Silverio, manager of the Central Bank, former director of the CenAntillas economic think tank of the PUCMM university.