Audio By Carbonatix
Mayor Tomas Regalado will name Carlos Migoya, a former Wachovia Bank president and Autonation executive, as interim city manager later this afternoon, Riptide’s sources say.
Migoya will take over from Pete Hernandez, who handed in his resignation on Friday amidst a widening federal probe into the city’s disastrous finances.
Migoya was president of Wachovia’s operations in Miami-Dade and the Florida Keys until 2006, when he took a promotion to become CEO of the bank’s Atlantic region.
The Cuban native got his start in 1974 as president of Southeast Bank, according to an archived Herald story about his promotion.
When news happens, Miami New Times is there —
Your support strengthens our coverage.
We’re aiming to raise $30,000 by December 31, so we can continue covering what matters most to you. If Miami New Times matters to you, please take action and contribute today, so when news happens, our reporters can be there.
Migoya will serve on an interim basis, Riptide’s City Hall sources say.
Regalado has called a 1 p.m. meeting at City Hall to announce his choice.
UPDATE: Regalado indeed named Migoya as interim city manager at City Hall this afternoon.
The big surprise? The former bank exec will work pro bono.
It’s a nice gesture considering the city’s financial mess. And considering that Migoya owns a Brickell Key condo valued at $1.2 million in 2008, according to Riptide’s records search, it’s not like he’s hurting for the cash.
Migoya also owns another condo, valued last year at $429,000, in Coconut Grove on Franklin Ave.
