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Ex-MPLA finance chief is new Fund comptroller
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Posted on Oct 02 2008
The former finance chief of the defunct Marianas Public Lands Authority has been appointed to serve as the next comptroller of the NMI Retirement Fund.
David Demapan, who was MPLA’s comptroller when the agency was abolished for alleged misuse of public funds, will take the job of Retirement Fund comptroller on Nov. 22, 2008. He replaces Noel Soria, who is retiring after many years of service with the pension agency.
The Fund board of trustees made the decision in an emergency session late Wednesday afternoon.
“Since this is a very vital position within the Fund, the board decided to appoint someone from the staff,” said Fund administrator Mark Aguon.
Demapan joined the Retirement Fund about two months ago. Aside from MPLA, he has worked for the former Marianas Public Lands Corp. and the Commonwealth Ports Authority.
For his part, Soria has worked in several capacities for the Retirement Fund since the 1990s. He joined the Fund in 1991 as an accountant, later serving as technical analyst for investment and then as manager for investment until he left the agency in 2000. He returned to the Fund in September 2002, and has served since then as comptroller for the agency.
Soria also held several jobs with private sector companies including Kam Corp., Coral Ocean Point, Pacific Islands Club, and Bank of Saipan.
