The USHCC Applauds Goldman Sachs on Dina Powell Appointment to Lead Firm's Urban Investment Group

WASHINGTON, Feb. 4, 2014 (GLOBE NEWSWIRE) -- The United States Hispanic Chamber of Commerce (USHCC) applauds Goldman Sachs for naming Dina H. Powell as head of the firm's Urban Investment Group (UIG). Powell's new responsibilities entail leading Goldman Sachs' social impact effort, a $3 billion initiative that has facilitated loans and equity investments to revitalize neighborhoods and provided resources to underserved communities across the nation for the past 13 years.

"The USHCC commends Goldman Sachs' appointment of Dina H. Powell as head of UIG. Ms. Powell's record at the Goldman Sachs Foundation highlights her business acumen and philanthropic spirit - two components that are critical to better serve communities in need," said USHCC President & CEO Javier Palomarez. "Ms. Powell's visionary leadership at the Office of Corporate Engagement was key to the birth of Goldman Sachs' groundbreaking 10,000 Small Businesses initiative. The USHCC has been a vocal advocate of this program, and we look forward to our continued relationship with Goldman Sachs on this commendable effort which empowers America's small business communities, and elevates our nation's entrepreneurs."

As part of her portfolio at the Office of Corporate Engagement, Ms. Powell led the $500 million 10,000 Small Businesses initiative, which has provided valuable resources and trainings in management, access to capital and innovative solutions to emerging entrepreneurs across the nation. Since its launch, the program has assisted hundreds of businesses in seventeen major cities, including Houston, Salt Lake City, New York, Miami, Chicago and Los Angeles. Over 70 percent of the initiative's graduates have reported increased revenues in their businesses within six months of completing the training.

"Dina Powell's admirable track record stems back to her time as a public servant during the Bush administration. Both her work at the State Department and the White House demonstrated her dedication to underserved communities across the nation and abroad," said USHCC Chairman Emeritus Nina Vaca. "Needless to say, Ms. Powell's impact at the Goldman Sachs Foundation will be felt for years to come, and we look forward to working with her on her latest endeavor as head of the UIG."

About the USHCC

Founded in 1979, the USHCC actively promotes the economic growth and development of our nation's entrepreneurs. The USHCC advocates on behalf of nearly 3.2 million Hispanic-owned businesses, that together contribute in excess of $468 billion to the American economy, each year. As the leading organization of its kind, the USHCC serves as an umbrella to more than 200 local chambers and business associations across the nation, and partners with more than 220 major corporations.

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CONTACT: Valentina Pereda USHCC Director of Communications 202-489-2932Source:United States Hispanic Chamber of Commerce