MDC Press Release – Miami, December 4, 2015 – Miami Dade College (MDC) Provost of Operations Dr. Rolando Montoya has been unanimously elected as the new Chairman of the Board of the Federal Reserve Bank of Atlanta’s Miami Branch. Dr. Montoya has been serving on the Board since January 2014.

The Federal Reserve Bank of Atlanta branch directors provide economic information from their industries and the branch territory to the district bank’s President and head office directors, who use the information in formulating monetary policy and making discount rate recommendations. ‘I am honored by the trust deposited in me by the Board members and remain committed to supporting the mission of the Federal Reserve System,’ Dr. Montoya said.

Dr. Montoya has been the college’s provost since 2009. Before that, he served in various positions of increasing responsibility at MDC, including: Wolfson Campus president; dean for academic affairs at the Kendall Campus; chairperson of business at the Kendall Campus and professor of accounting, finance, economics, and statistics at the North Campus.

Dr. Montoya serves on several boards, including Miami Downtown Development Authority, CareerSource South Florida, New World School of the Arts at MDC, South Florida Center for Financial Training at MDC, and Disney College Program. He earned a bachelor’s degree in business administration from the Technological Institute of Monterrey, Mexico, a licentiate degree in business from the University of Costa Rica, and a master’s in finance and a doctorate in higher education administration from Florida International University. He is also a Certified Management Accountant and Financial Manager. SunTrust Bank and the Carlos Arboleya Endowed Teaching Chairs have recognized him for his contributions to Miami Dade College. He’s also received MDC’s Presidential Merit Award among other distinctions. MDC President Dr. Eduardo J. Padrón also served as chairman of the Board of the Federal Reserve Bank of Atlanta’s Miami Branch.

Dr. Montoya was born in the Camaguey region of Cuba. He spent his formative years in Costa Rica, Mexico and Panama. After his graduation from the University of Costa Rica, Dr. Montoya focused his career on education, accountancy and international finance. In 1980, he was appointed by the government to be the consul and trade commissioner for Costa Rica in Miami, where he became a permanent resident of the United States.

In the United States, the Federal Reserve Bank functions as a sovereign central bank. The Atlanta Fed Reserve serves the sixth district, which includes branches in the metropolitan areas of Atlanta, Birmingham, Jacksonville, Miami, Nashville, and New Orleans.

The Atlanta Fed handles monetary policy, operation of nationwide payment system, and bank supervision and regulation. It has a major role on setting interest rates and the discount rates on sovereign debt instruments.