The $5.6 billion First Tech FCU in Mountain View, Calif., has created the new position of chief investment officer and placed a 20-year financial services veteran in the job.
Marangal “Morito” Domingo will manage the 358,000-member First Tech’s investment and portfolio and secondary marketing activities. He most recently was executive vice president, chief financial officer and treasurer of First PacTrust Bancorp and PacTrust Bank in Irvine, Calif., the credit union said.
Domingo, who has an MBA from the University of Michigan, also had been principal and founder of Decision Advisors, providing business strategy and consulting services to banks and financial investors, his new employer said, and executive vice president, chief financial and chief investment officer of Doral Financial Corp.
“Adding a chief investment officer will help First Tech continue our history of stellar financial performance,” said First Tech President/CEO Greg Mitchell, who is a former CEO of First PacTrust. “Marito will work closely with our chief financial officer and chief credit officer to optimize results for our investment portfolio and secondary marketing activities.”