The Mountain State has a new top insurance regulator.

The New Mexico Public Regulation Commission says it has hired Morris Chavez to be the state’s new superintendent of insurance.

Chavez succeeds Eric Serna, who left office after an investigation raised questions about the contract for a bank custodial account.

Chavez, who will earn a salary of $91,500 a year, has been the state gaming representative on the New Mexico Gaming Control Board since 2004.

Chavez also has been surety consultant and corporate counsel for the Manuel Lujan Insurance Inc, Albuquerque, N.M., and an account executive at Talbot Agency Inc., Albuquerque.

Chavez has a bachelor’s degree from the University of San Diego and a law degree from the University of New Mexico.

The New Mexico Public Regulation Commission also has hired Aaron Feliciano to be chief market conduct analyst.

The commission says it created the position to place more emphasis on the importance of investigations and examinations by the Insurance Fraud Bureau.

Feliciano previously was chief examiner for the New Mexico Division of Insurance.

John Clough will be the division’s new general counsel, officials say.