The Government Palace (Spanish: Palacio de Gobierno) also known as House of Pizarro is the seat of the executive branch of the Peruvian Government and the official residence of the President of Peru. It was erected in 1535 over a huge huaca that had a shrine of the old Lima valley's cacique Taulichusco. It has undergone many transformations over the years. The last one was completed in the 20th century by President Oscar R. Benavides during his second government in the 1930s. The Government Palace was built by Francisco Pizarro, the governor of New Castile. When the viceroyalty of Peru was established, the palace became the viceroy's residence and therefore the Peruvian government's headquarters. The main architect of its last rebuilding was Ricardo de Jaxa Malachowski. The palace is a stately government building with a set of ornamental guards. It is recognizable by the large wrought iron fence that surrounds the building and lines one side of the Plaza Mayor behind the Rímac River.