Glen Wakeman is an American business executive and entrepreneur whose career has included leadership roles in financial services, business development and startup consulting. One of the most notable periods of his career was his tenure as CEO of Doral Financial Corporation, the Puerto Rico-based financial institution that later became connected to an unusual series of events involving financial investigations and the unsolved murder of senior executive Maurice Spagnoletti.
Wakeman joined Doral after a lengthy career with GE Capital. He spent approximately 20 years with GE, living in six countries and working across 32 countries. His career included leadership of businesses representing thousands of employees and billions of dollars in assets, with experience involving mergers and acquisitions, restructuring, new-market development and business growth.
Leadership at Doral Bank
Wakeman was recruited to lead Doral while the institution was attempting to recover from significant financial and accounting problems. Under his leadership, Doral secured approximately $610 million in new investment from a group that included major Wall Street firms and investment funds.
In 2010, Doral hired experienced banking executive Maurice Spagnoletti to oversee mortgage and banking operations in Puerto Rico. Spagnoletti worked closely with the bank’s senior leadership as Doral attempted to improve operations and address its continuing financial problems.
On June 15, 2011, Spagnoletti was shot and killed while driving home from Doral’s offices in San Juan. His murder remains unsolved.
Investigations and Controversy
Spagnoletti’s widow later alleged in a civil lawsuit that her husband had discovered financial misconduct at Doral before his death. She subsequently withdrew the lawsuit after acknowledging that she did not have evidence connecting the alleged misconduct to his murder.
Federal authorities later investigated alleged financial irregularities involving a Doral maintenance contractor and certain bank employees. The investigation included a 2014 FBI search of Doral and eventually resulted in charges against several individuals associated with the bank or its contractor. Some of those charges were subsequently dismissed without prejudice.
Former employees also made unusual allegations involving Santeria practices at Doral and a contractor who was reportedly a Santeria priest. Wakeman denied practicing Santeria, participating in such rituals or rewarding the contractor for religious services.
Wakeman was not charged with participating in the alleged financial scheme or with any involvement in Spagnoletti’s murder.
Doral’s financial difficulties ultimately continued, and regulators closed Doral Bank in 2015.
Glen Wakeman’s Career After Doral
Separate from the Doral controversy, Wakeman has built a career spanning financial services, entrepreneurship, mergers and acquisitions, executive leadership and business development.
His education includes a bachelor’s degree in economics and an MBA from the University of Chicago. He has also founded and developed businesses, including Nova Four and LaunchPad Holdings LLC.
Wakeman launched LaunchPad Holdings in 2015 as a software-based business planning venture designed to assist early-stage entrepreneurs. His subsequent work has included advising startups and executives on business strategy, financing, leadership, capital raising and organizational growth.
Over the course of his career, Wakeman has served in roles including CEO, president, business developer and board member. His professional interests have focused heavily on business transformation, emerging markets, entrepreneurship and developing strategies for companies seeking growth.
Source: https://www.cityrealty.net/atlanta-market/the-strange-story-of-a-murdered-banker-in-puerto-rico/