Founding Member Javier D. Ferrer Tapped to Serve as President of the Government Development Bank for

Javier D. Ferrer, one of the founding members of the Firm, has been designated by Governor-elect Alejandro García Padilla to serve as the President of the Government Development Bank for Puerto Rico (“GDB”). GDB serves as the bank, fiscal agent and financial advisor to the Government of Puerto Rico. As of June 30, 2011, GDB had, on a consolidated basis, more than $15 billion in assets and over 400 employees. The president of GDB is instrumental in delineating and executing the island’s fiscal policy and overall economic development. Since its founding more than twenty years ago, Javier has been instrumental in PMA’s success. Among the wide array of areas of his corporate practice, he has represented financial institutions in all aspects of compliance and regulation, including banking and securities laws; insurance companies; and as well as buyers and sellers in M&A and capital market transactions. Managing Member Jaime E. Santos said, “Although we will miss Javier as he embarks on this new professional challenge, we at PMA are very excited about the contributions he will make to the overall fiscal and financial wellbeing of Puerto Rico.”