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Israel Velasco: "We don't just want to be known as a commercial real estate lender, although that is our strong suit…. consider Colonial Bank as sort of like a private banking institution for all customers, not just for ones that have high deposit balances." - In Play
South Florida CEO, March, 2004
The Player: Banker Israel Velasco, 39
[ILLUSTRATION OMITTED]
Latest Play: Appointed president and CEO of the South Florida Region for Alabama-based Colonial Bank
Background: Brought to Colonial Bank five years ago by former CEO Jose Valdes-Fauli, whom he'd worked for at Eastern National Bank. Most recently was executive vice president and director of retail lending for South Florida. Velasco started his banking career 18 years ago as a teller at Dadeland Bank--which Colonial later acquired. "I came full circle, and some of the people that I used to work with are still here," Velasco says. Also chairman of Junior Achievement of Greater Miami, where he's volunteered for 16 years, and an adjunct professor at Miami-Dade Community College.
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Ambition: To continue the expansion of what is already Colonial's largest region--with $2 billion in assets, 24 branches and 400 employees. Velasco plans to open 15 new branches in the next five years, as well as launch a small business lending program.
COPYRIGHT 2004 Americas Publishing Group
COPYRIGHT 2004 Gale Group
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