Gibraltar Private Bank & Trust on Wednesday named Angel Medina, Jr. president, expanding his role at the Coral Gables-based bank that focuses on private banking and wealth management.
Medina, who has 30 years of experience in financial services, joined Gibraltar in 2011 as executive vice president to manage credit quality, and will now oversee banking operations.
“He is a very accomplished banker and really has been critical to our ability to revamp our credit processes and get us over all of the credit issues,” said Gibraltar Chairman and Chief Executive Adolfo Henriques. “I know he is going to have a tremendous impact as we are provisioning for growth in our core banking business.”
Gibraltar, with eight offices, has $1.6 billion in assets and $700 million under managment. The bank is operating under a regulatory enforcement action, and has made significant strides to reach compliance with issues related to anti-money laudering processes, Henriques said. In the third quarter, the bank posted a $10.1 million loss, which included $8 million in provisions for taxes. Last year, Gibraltar paid $15 million to settle lawsuits related to convicted Ponzi schemer Scott Rothstein.