President Biden has appointed Juan Sabater, a partner and co-president of private equity firm Valor Equity Partners, to the Financial Oversight and Management Board (FOMB) for Puerto Rico. The FOMB comprises seven members, with Sabater being the presidential appointee. The remaining members are appointed by Congress, along with an ex officio member designated by the Governor of Puerto Rico. The Board’s primary objective is to promote economic growth in Puerto Rico.
Juan Sabater has a distinguished background, both professionally and personally. He is a co-chair of Augeo Affinity Marketing and serves on the boards of various academic, arts, charitable, and professional organizations, as well as several corporate boards. Sabater played a foundational role in the creation of My Brother’s Keeper Alliance, an initiative launched to address opportunity gaps faced by young men of color, which is now part of the Obama Foundation.
Sabater’s previous appointments include his service on the Board of Visitors to the U.S. Military Academy, also appointed by President Biden. Additionally, he has served as an officer in the United States Army Reserve. For more details, visit the original announcement.