UPDATE 1-Doral Financial CFO steps down

March 25 (Reuters) - Doral Financial Corp (DRL.N) said its Chief Financial Officer Marito Domingo stepped down and it named Robert Wahlman as its new chief financial and investment officer.

Wahlman was most recently the CFO of Merrill Lynch Bank USA and Merrill Lynch Bank & Trust, the company said.

Doral Financial, once Puerto Rico's largest mortgage lender, had posted a wider net loss for the fourth quarter, hurt in part by a rise in provision for loan and lease losses, and suspended its dividend.

Shares of the company closed up 7 percent at $2.04 Wednesday on the New York Stock Exchange. (Reporting by Adheesha Sarkar in Bangalore; Editing by Vinu Pilakkott)