Career Biography

David Galarza serves as Chief Legal Officer of Gamma International Bank, where he oversees all legal, regulatory, and corporate governance functions for the Bank and its investment advisory affiliate, Gamma Asset Management LLC and its securities broker-dealer, Gamma Securities LLC. With over two decades of experience spanning financial compliance, securities regulation, and commercial law, David’s practice bridges the intersection of business strategy and regulatory discipline. He began his career as a securities examiner with the Puerto Rico State Regulator and has since advised financial institutions on capital formation, regulatory risk, and institutional governance under U.S. and Puerto Rico frameworks.

What are the recent projects you have worked on that you view as your main achievements?

Over the past year, I have led the legal structuring of Gamma International Bank’s capital enhancement to meet the new paid-in capital threshold applicable to international banking entities. This initiative required complex shareholder negotiations, cross-border corporate documentation, and alignment with both Puerto Rico’s Office of the Commissioner of Financial Institutions and U.S. securities regulators..

Concurrently, my team completed the migration to a new custodian for Gamma Securities LLC. This effort included developing a comprehensive compliance and disclosure framework, re-engineering our AML and KYC infrastructure, and negotiating custodial operational arrangements with one of the largest US financial custodian. These projects positioned Gamma as a fully integrated financial platform while reinforcing our governance culture and regulatory credibility.

What are some trends in Puerto Rico’s legal landscape you’d like to mention?

Puerto Rico’s financial regulatory framework is converging with U.S. federal standards, particularly in AML/CFT, digital banking, and consumer protection. Over the next decade, I expect to see greater emphasis on AI-driven compliance, data governance, and cross-border supervision. Institutions that integrate these disciplines early will gain both regulatory credibility and strategic advantage.