Alfredo Salazar
Encyclopedia
Alfredo Salazar is an economist and politician affiliated with the Popular Democratic Party
(PDP). He is currently running for the office of Resident Commissioner
of Puerto Rico to the United States Congress in the upcoming 2008 elections. Until October 31, 2007, he served as the Acting President of the Puerto Rico Government Development Bank
(GDB) and economic czar of the administration of Governor Aníbal Acevedo Vilá
. He had previously served as GDB president during Governor Rafael Hernández Colón
's administration.
(today JP Morgan Chase), where he occupied several positions including Head of Operations in Puerto Rico, Argentina and Brazil. In 1989 he was appointed President of Banco de Ponce
, just before it merged into Banco Popular. From 1993 to 1998, Mr. Salazar was based in New York as Head of Operations for PaineWebber (today UBS Financial Services) in Latin America. He then returned to Puerto Rico as President of Palmas del Mar Properties, Inc., the development company of the posh residential and tourist complex in Humacao.
. He also did post-graduate coursework in finance at New York University
and the Harvard Business School
.
.
Popular Democratic Party of Puerto Rico
The Popular Democratic Party of Puerto Rico is a political party that supports Puerto Rico's right to self-determination and sovereignty, through the enhancement of Puerto Rico's current status as a commonwealth....
(PDP). He is currently running for the office of Resident Commissioner
Resident Commissioner
Resident Commissioner is the title of several, quite different types of Commissioner in overseas possession or protectorate of the British Crown or of the United States.-British English:...
of Puerto Rico to the United States Congress in the upcoming 2008 elections. Until October 31, 2007, he served as the Acting President of the Puerto Rico Government Development Bank
Puerto Rico Government Development Bank
The Government Development Bank of Puerto Rico was the brainchild of Governor Rexford Guy Tugwell, who signed Law 252 of May 13, 1942, creating the institution in charge of economic development for the Government of Puerto Rico...
(GDB) and economic czar of the administration of Governor Aníbal Acevedo Vilá
Aníbal Acevedo Vilá
Aníbal Salvador Acevedo Vilá is a Puerto Rican politician and lawyer. He served as the eighth Governor of the Commonwealth of Puerto Rico, a Commonwealth of the United States, from 2005 to 2009. He is a Harvard University alumnus and a graduate of the University of Puerto Rico School of Law,...
. He had previously served as GDB president during Governor Rafael Hernández Colón
Rafael Hernández Colón
Rafael Hernández Colón is a Puerto Rican politician who served as the fourth Governor of the Commonwealth of Puerto Rico for three non-consecutive terms, from 1973 to 1977 and from 1985 to 1993. An experienced politician, Hernández holds the record for being the youngest Governor of Puerto Rico,...
's administration.
Biography
Mr. Salazar has devoted most of his professional life to commercial banking. He began working with Banco Popular de Puerto Rico and then moved on to Chase Manhattan BankChase Manhattan Bank
JPMorgan Chase Bank, N.A., doing business as Chase, is a national bank that constitutes the consumer and commercial banking subsidiary of financial services firm JPMorgan Chase. The bank was known as Chase Manhattan Bank until it merged with J.P. Morgan & Co. in 2000...
(today JP Morgan Chase), where he occupied several positions including Head of Operations in Puerto Rico, Argentina and Brazil. In 1989 he was appointed President of Banco de Ponce
Banco de Ponce
Banco de Ponce was one the largest banks in Puerto Rico. In 1990 it merged with Banco Popular creating Puerto Rico's largest bank. At this time, Banco Popular's holding company changed its name to BanPonce Corporation. Banco de Ponce had established an agency in New York that it had converted to a...
, just before it merged into Banco Popular. From 1993 to 1998, Mr. Salazar was based in New York as Head of Operations for PaineWebber (today UBS Financial Services) in Latin America. He then returned to Puerto Rico as President of Palmas del Mar Properties, Inc., the development company of the posh residential and tourist complex in Humacao.
Education
Mr. Salazar has a Bachelor's Degree in economics from Villanova UniversityVillanova University
Villanova University is a private university located in Radnor Township, a suburb northwest of Philadelphia, Pennsylvania, in the United States...
. He also did post-graduate coursework in finance at New York University
New York University
New York University is a private, nonsectarian research university based in New York City. NYU's main campus is situated in the Greenwich Village section of Manhattan...
and the Harvard Business School
Harvard Business School
Harvard Business School is the graduate business school of Harvard University in Boston, Massachusetts, United States and is widely recognized as one of the top business schools in the world. The school offers the world's largest full-time MBA program, doctoral programs, and many executive...
.
Recognition
Among his recent accomplishments, through the creation of a new GDB subsidiary, he was able to place bonds to refinance about half of Puerto Rico's accumulated extraconstitutional debt. On July 23, Gov. Acevedo Vilá made it official when he announced that Salazar had officially agreed to be his running-mate in the 2008 elections. He will be facing the winners of the New Progressive Party (NPP) primary, former Attorney General Pedro R. Pierluisi Urrutia and gubernatorial aspirant Luis G. Fortuño Burset who is Resident CommissionerResident Commissioner
Resident Commissioner is the title of several, quite different types of Commissioner in overseas possession or protectorate of the British Crown or of the United States.-British English:...
.