For immediate release: December 20, 2016
Ana M. Menendez, chief financial officer and treasurer of Watsco Inc., and Eduardo Arriola, founder, chairman of the board and chief executive officer of Apollo Bank, have been appointed to the board of directors of the Federal Reserve Bank of Atlanta's Miami Branch. Their terms begin Jan. 1, 2017, and run through Dec. 31, 2019.
Menendez has served in her current position since 2003. Prior to that, she served as vice president and treasurer from 1998 to 2003. Before joining Watsco, she was chief financial officer and secretary of Ezcony Interamerica Inc. from 1997 to 1998.
Menendez is a member of the American Institute of CPAs and the Florida Institute of CPAs. She served on the Dean's Advisory Board of Florida International University College of Education.
Menendez is a certified public accountant and received a bachelor's degree from Florida International University and an MBA from the University of Miami. She was South Florida Business Journal's CFO Awards Finalist in 2011.
Arriola has served in his current position since 2008. He was managing director and co-founder of Inktel from 1997 to 2008, president and founder of USWeb from 1996 to 1997 and director of creative services at Avanti/Case-Hoyt from 1994 to 1996.
Arriola is chairman of the board of directors of Inter-American Foundation. He is a member of the Young Presidents Organization, Miami Chapter and Executive Committee, Financial Services, the Roundtable and the Florida Bankers Association. He is a former board member of TotalBank, GMed Corp., Young Entrepreneurs Organization, Kristi House and City Year Miami, founding committee member and board of advisors.
Arriola earned a bachelor's degree from Boston College in 1994 and graduated from the Harvard Business School OPM Program for Owner/President Management in 2006. He was recognized as South Florida Business Journal's "Most Powerful Bankers" in 2014 and 2015, Poder Magazine's "100 Most Influential Hispanics" in 2011 and 2012, Poder Magazine's "Top 20 Under 40" Leaders in 2010. He received the Horizon award from the Florida Bankers Association in 2011.
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 discussing monetary policy options and making discount rate recommendations. Menendez was appointed to the board of directors of the Federal Reserve Bank of Atlanta's Miami Branch by the Federal Reserve Board of Governors in Washington, D.C. Arriola was appointed by the Atlanta Fed's board of directors. The Board of Governors appoints three Miami Branch directors, and the Atlanta head office directors appoint four.