Doral Financial, a diversified financial services company, has appointed Raymond Quinlan and Gerard Smith to its board of directors. Both appointments are in addition to the current nine members of the company's board.

Mr Quinlan is a former managing director of mergers and acquisitions execution for all Citigroup proprietary businesses. Most recently he served as chairman and CEO of Retail Distribution North America (RDNA), a retail financial services business comprised of Citibank NA, CitiFinancial, Primerica Financial Services, and Direct Bank (internet).

Mr Smith, who has over 30 years experience in the financial industry, has focused the majority of his financial career on a number of noteworthy mergers and acquisitions, including deals involving HSBC, Capital One, AMSouth, and the Bank of Canada. Most recently, he served as managing director in charge of bank mergers and acquisitions at Credit Suisse.

Glen Wakeman, president and CEO of Doral Financial, said: Both Mr Quinlan’s and Mr Smith’s appointments to the company’s board further strengthen our already exemplary group of directors. Their vast experience in developing and executing business models, strategic planning, and mergers and acquisitions in the world’s top markets will provide valuable leadership, knowledge and further depth to our business.