Aida Álvarez | |
|---|---|
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| 20thAdministrator of the Small Business Administration | |
| In office March 7, 1997 – January 19, 2001 | |
| President | Bill Clinton |
| Preceded by | Philip Lader |
| Succeeded by | Hector Barreto |
| Personal details | |
| Born | 1950 (age 74–75) |
| Political party | Democratic |
| Education | Radcliffe College (BA) |
Aída M. Álvarez (born 1950) is an American businesswoman, journalist, and politician. She previously served as the 20thAdministrator of the Small Business Administration under PresidentBill Clinton from 1997 to 2001. A member of theDemocratic Party, Álvarez was the firstHispanic and Latino American woman ever to serve in apresidential cabinet.[1]
Alvarez was born inAguadilla, Puerto Rico, into a family of modest economic means who, despite their hardships, always encouraged her to pursue her dreams. After she received her primary education in Puerto Rico, her family moved toNew York City in hopes of improving their economic situation. In New York, she attended high school and participated in a program called "ASPIRA". "ASPIRA" was founded byDr. Antonia Pantoja and has helped disadvantaged children, especially girls, gain the leadership skills and knowledge required to go to college.[2]
Álvarez applied and was accepted atRadcliffe College ofHarvard University, where in 1971 she earned herBachelor of Arts degree, graduatingcum laude. During her student years, many people provided her with support.[3]
Álvarez began her career as ajournalist for theNew York Post and won a "Front Page Award". She later became a news reporter andnews anchor for Metromedia Television (Channel Five), also in New York. In 1982, she won anAssociated Press Award for Excellence, and she was nominated for anEmmy Award for her reporting of guerilla activities inEl Salvador.[2]
Álvarez ventured into the banking business by becoming an investment banker at theFirst Boston Corporation and atBear Stearns. As a public servant, she spent two years at the NYC Health and Hospitals Corp. She was also a commissioner on theNew York City Charter Revision Commission and a member of the Mayor's (NYC) Committee on Appointments. In June 1993, Álvarez was named Director of the Office of Federal Housing Enterprise Oversight. She created a financial safety and soundness oversight program forFannie Mae andFreddie Mac.[2]
In 1997, Álvarez was appointed byBill Clinton to become the Administrator of theSmall Business Administration, thus becoming the first Hispanic woman and Puerto Rican to serve as an executive officer in the U.S. Cabinet. She directed the delivery of a comprehensive set of financial and business development programs for American small businesses. The agency provided financing worth eleven billion dollars a year to small businesses across the nation.[4]
In 2000, Álvarez was elected to the Board of Overseers of Harvard University. Her role is to visit the graduate schools, departments, and museums of the university to ensure that the university remains true to its Charter as a place of learning. She also serves on the National Trust for Historic Preservation, the Coalition for Supportive Housing, and the Board of Trustees of the Latino Community Foundation.[2]
During the2004 Presidential Election, Álvarez was named the official spokeswoman forSenatorJohn Kerry. Álvarez had met Kerry during her days as the Small Business Administration administrator. She became familiar with his work in theU.S. Senate on small business development.[2] As of January 2008, Alvarez sits on the board of directors forWal-Mart.[citation needed] As of 2014, Álvarez sits on the Board of Directors of The Cisneros Center for New Americans.[citation needed]
Álvarez has been featured in many magazines, among them "Latina Style", and is featured in the book "Hard Won Wisdom" by Fawn Gerner, where she is quoted as saying:
"I first learned about leadership when I fought back after a female gang leader tried to bully me."[5]
In August 2019, Álvarez was appointed to the Board of Directors of the software company Fastly. She replaced Gil Penchina as a member of the Compensation Committee of the Board and as the Chair of the Nominating and Corporate Governance Committee.[6]
Alvarez is married to Raymond Baxter, a senior Vice President at Kaiser Permanente. They have two daughters.[7]
| Political offices | ||
|---|---|---|
| Preceded by | Administrator of the Small Business Administration 1997–2001 | Succeeded by |
