The Hispanic Scholarship Fund (HSF) Board of Directors today announced the selection of Fidel A. Vargas as President and CEO of the Hispanic Scholarship Fund and its wholly owned subsidiary, the Hispanic Scholarship Fund Institute.
Vargas, a member of the HSF Board of Directors for the past two years, will assume the role on Jan. 2, 2013 with the anticipated retirement of current HSF CEO, Frank Alvarez.
Vargas is taking over the helm at HSF after an outstanding career in the public and private sectors. Most recently, Vargas was a founding partner with Centinela Capital Partners, a minority-owned alternative asset management firm that invested and managed nearly $1 billion. His many achievements included being appointed by President Bill Clinton to serve on the Social Security Advisory Committee and by President George W. Bush to serve on the Commission to Strengthen Social Security and the Presidential Scholars Commission.
"We are thrilled that Fidel Vargas has agreed to join HSF at this critical time for our country," said Jim McNamara, HSF Board Chairman and president of Pantelion Films. "We're thankful for the outstanding leadership provided by Frank Alvarez as CEO during an exciting period of growth for the organization and as a board member for more than 15 years prior to his appointment."
Vargas has been recognized for his civic and business achievements, including being named to TIME Magazine's 40 Under 40 list and HispanicBusiness Magazine's 100 Most Influential Hispanics. At age 23 he was elected mayor of his hometown of Baldwin Park, Calif., becoming the youngest elected mayor of a major city in the U.S. He has a deep commitment to the work of HSF having been a scholarship recipient himself while attending Harvard University.
"Education is the most critical issue facing the Hispanic community today and I deeply appreciate the opportunity to be aligned with the Hispanic community's most important educational institution," Vargas said. "I look forward to working with Mr. Alvarez on this leadership transition over the next two months."
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