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Earlier this morning the US Census Bureau made this dramatic announcement: White births are no longer the majority in the United States. The new 2011 census, reveals non-Hispanic whites accounted for 49.6 per cent of all births in the 12-month period that ended last July.
The minorities – Hispanics, Blacks, Asians and those of mixed race – made 50.4 per cent in total, with Hispanics at 26 per cent, blacks 15 per cent, and about 4 per cent Asian. That compares with a 37 per cent ratio in 1990.
Clearly Hispanics…or Latinos are in the lead in population growth and overall demographic increases in American cities and towns throughout the country.
And in the field of business, finance and economic development, the Latino community has firm footing within industries across the globe.
Joining me today is Marcela Aldaz, one of the leading spokespersons representing ALPFA, the nation’s fastest growing Latino business organization in the country.
In 1972, a Latino college student might have felt lonely on campus. Not only was Latino college enrollment abysmal, but few campus organizations existed to help develop and connect them to professional opportunities. The same could be said for young Latino business professionals; many were dismayed by a lack of community of Latino colleagues and mentors to learn from, network with — and who could, together — work to open the doors to corporate America if not the global market.
The ALPFA founding members understood the need to build a Latino professional workforce that would contribute and compete in the region’s burgeoning economy. Today, as ALPFA celebrates its 40th anniversary with more than 18,000 members across 39 professional and 90 student chapters, ALPFA is the pre-eminent resource and authority of building Latino business leaders through its innovative programs and bold changes over the course of its existence…
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ALPFA Boston Chapter President Rene Jarquin and Executive Vice Presidents Betty Francisco and Juan Lopera are profiled in the latest issue of Impact, ALPFA’s national newsletter. Read about their ALPFA stories on pages 20 and 29, respectively.
Read the latest issue of IMPACT online!
BNY Mellon’s Jarquin in his second stint as ALPFA Boston chief
Premium content from Boston Business Journal by Keith Regan, Special to the Journal
Date: Friday, December 9, 2011, 6:00am EST
When Rene Jarquin arrived in Boston nine years ago, he was starting a new career, and a new family, in a city where he’d never lived.
Leaving a role in a financial services software firm Silicon Valley and moving into wealth management, Jarquin got his footing with the help of the Boston Chapter of ALPFA, the Association of Latino Professionals in Finance and Accounting.
The association helped lead him to his current role at BNY Mellon, where he is a senior portfolio manager working with high net-worth individuals and their financial advisers. Before long, Jarquin started his first stint as president of the chapter. He later stepped back when his second daughter arrived but is now serving his second stint atop the 2,000-member chapter over the summer.
“Our past president had some family issues that required him to step down and when the opportunity was presented, I realized I was in a different enough place now that I could take it on again,” said Jarquin, adding that BNY Mellon has been a staunch supporter of his chapter work.
With a recently created sub-chapter focusing on the legal industry, ALPFA Boston has additional growth in its sights, with an emphasis on other verticals and on the universities that will provide the next wave of talent for the industry.
“Right now, as a chapter we have 500 university members and New York has 1,500,” Jarquin said. Only five area schools currently have ALPFA affiliations on campus. “Our goal is to match New York’s numbers. We want to continue to build that network out.”
What are your top three goals for the year?
At ALPFA, it’s to develop a much deeper pool of talent for our board. We have aggressive goals including moving into new verticals, but we need the talent. Recruiting will be a big focus for me. At BNY Mellon, I want to be able to contribute to the educate of clients and advisers on seminal changes taking place in the marketplace. I love the interplay of macro economics and financial markets and I love to share perspectives, so this is a perfect role for me. On the personal front, I have two daughters [7 and 4] and my goal for 2012 is to teach then the basic principle of financial economics: Deferred gratification.
What are your guiding principles for good management?
That management by committee doesn’t work. That you have to recruit top talent and the third thing, especially when you have a mission-driven organization with a double bottom line, you can’t just approach things through the MBA lens or framework. What I tell the people I mentor is that you have got to summon your inner politician and connect with each of your constituents and find out what motivate them and find a way to use that motivation.
What is the best business decision you’ve made?
Leaving Merrill Lynch to come to BNY Mellon. I have thrived here with their fiduciary business model for wealth management. And at the same time, BNY Mellon has become hugely supportive of ALPFA.
What is the most influential book you’ve read?
That’s an easy one. “Master of the Senate: The Years of Lyndon Johnson,” by Robert Caro. it chronicles his ability to understand what motivated each and every one of his peers and colleagues in the Senate and to be able to drive through his legislative agenda. He was the greatest reader of men and I admire that quality greatly.
Radhames Nova, ALPFA Boston Executive Director, was interviewed last week on “Centro” – a news program on local CBS affiliate WBZ. Radhmes spoke on ALPFA as well as the Boston chapter’s upcoming Executive Leadership Summit being held Thursday, November 17 at the Westin Copley Hotel in Boston.