The lawyer and financial regulation specialist replaces Alejandro Fernández W., who served for six years as head of the Superintendency of Banks
SANTO DOMINGO.- The Minister of Finance and Economy, Magín Díaz, swore in Enmanuel Cedeño Brea as the new Superintendent of Banks of the Dominican Republic, replacing Alejandro Fernández W., who remained at the head of the institution for six years.
The appointment is contained in Decree 606-26 and, in accordance with the Monetary and Financial Law, Cedeño Brea will hold the position for a period of two years.
They highlight the new superintendent's experience
During the swearing-in ceremony, Magín Díaz highlighted Cedeño Brea's preparation and experience in areas related to financial regulation and supervision, economics, finance and risk management, aspects considered for his selection by President Luis Abinader.
“Enmanuel Cedeño Brea has a solid background and extensive experience in regulation, supervision, economics, finance, and risk management. We are confident that his knowledge of the financial system and his commitment to institutional strengthening will contribute to further consolidating a robust, modern banking system capable of responding to the country's challenges,” said Díaz.
The minister also acknowledged the management of Alejandro Fernández W. and highlighted the progress achieved during his administration in terms of professionalization, digitization and operational capacity of the Superintendency of Banks.
Cedeño Brea will continue the strategic plan
After assuming his new duties, Cedeño Brea expressed his commitment to the continuity of the strategic plan of the Superintendency of Banks, with emphasis on institutional strengthening and the modernization of financial supervision.
Among the areas it plans to delve deeper into are institutional maturity, risk-based supervision, and regulatory innovation, considered fundamental to the evolution of the Dominican financial system.
Extensive experience in financial regulation and supervision
Cedeño Brea is a lawyer, specializing in economics and finance, and has experience in financial regulation, prudential supervision, risk management and regulatory compliance.
Before assuming the position of superintendent, he served as principal advisor and technical coordinator of the Superintendency of Banks. Previously, he held the position of deputy manager of Regulation and Innovation at that institution.
From that position he had responsibilities in areas related to regulation, supervision against money laundering and the financing of terrorism (ML/FT), innovation and financial inclusion, economic research, registration and licensing, and administrative sanctions.
He also served as Superintendent of the Securities Market between 2022 and 2024 and has worked as an advisor to various entities in the financial sector.
