• Index 500 2024: Latino leaders presents the 500 largest Latino owned companies in the United States Page 14
• HUSCO: Do not miss out on the interview sharing their story Page 45
• MasTec: Jose Mas shares his views on life and business Page 48
• Vanir: A conversation with Dorene Dominguez Page 60
• Best Companies for Latinos to Work 2024: Congratulations! Page 78
• Granite: An interview with Jorge Quezada Page 81
ALWAYS ON THE CLIMB
Jesus E. Gonzalez, COO Expert Climate Control
How was growing up for you?
JG: I am the youngest of 6 kids from Monterrey, Mexico. Born from the two hardest working individuals I’ve known. I arrived in the US when I was six years old, right before starting 1st grade, and went through the challenges of learning a new language and adjusting to a new environment. My parents instilled in us that anything achieved had to be earned. As a result, opportunities have presented themselves to reach the American Dream they wanted for us.
I graduated from the University of Houston with an Information Technology degree and a Master of Business Administration degree from the University of St. Thomas School of Business.
Whatever challenges I’ve faced haven’t been insurmountable, especially with the support of family and friends.
What were your core family values?
JG: God, family, education, hard work, community. Our parents always reminded us that we should strive to become a better version of ourselves. They would liken life as if we were climbing a mountain. As we climbed upwards, it was our responsibility to help others with their climb and push our kids to continue upwards to higher levels.
What led you to your current business?
JG: I started my career in corporate while one of my brothers worked his way into Expert Climate Control (ECC). He worked with the original ECC owners and helped them continue establishing the company's foundation. In 2018, I was given an offer to help on the administrative side while my brother handled the operation side. Within a couple of years, the opportunity presented itself to take ownership of the company and continue building upon it. At that time, we had set goals to increase our market share and try to reach financial goals that hadn't been accomplished before. A new business model was born, and we are positioning the company to continue growing.
What has been your biggest challenge, and how did you face it?
JG: We constantly must prove to ourselves that we deserve what has been accomplished and more. As a small company, funding has always presented a challenge. There are many moving pieces when it comes to finances, and any disturbance has a ripple effect that can be detrimental. As with any business,
Courtesy of Luis Panameño (Insta: @lpana59)
AS A SMALL COMPANY, FUNDING HAS ALWAYS BEEN CHALLENGING. THERE ARE MANY MOVING PIECES WHEN IT COMES TO FINANCES, AND ANY DISTURBANCE HAS A RIPPLE EFFECT THAT CAN BE DETRIMENTAL.
coordination between getting paid for services/material rendered and paying vendors is a constant juggle. We've established a working relationship with Josh at Comerica Bank to use the programs available to demonstrate that financial backing.
What are your short- and long-term goals in your current position?
JG: In the short term, we want to build on our clientele to have a constant flow of projects being awarded. At the same time, the long-term goals would be to diversify our services and pursue opportunities that will continue to help the company grow.
What advice would you give to the new generation of Latin professionals?
JG: Learn as much as possible, share that knowledge with the community, and build relationships. So many opportunities and resources are available by sharing your experiences with others.
I'm a big believer in the concept of "paying it forward," which is why I'm a proponent of supporting other Latin professionals and their businesses. I've been given a chance; I’m still getting chances and would like to extend chances to others as much as possible.
THE IMPORTANCE OF VOTING: A KEY PILLAR OF DEMOCRACY
Ralph de la Vega
THE RIGHT to vote is a key pillar of democratic principles. A recent Pew Research Center1 study estimates that 36.2 million Latinos are eligible2 to vote in 2024, up from 32.3 million in 2020. This makes Hispanics3 the largest eligible voting minority group4 in the U.S. and represents 50% of the total growth in eligible voters during this time.
However, not all eligible voters register to vote, and in presidential elections, turnout rates among Hispanic Americans have typically been lower than those of other groups5. In a democratic society, the power to shape the future rests with its citizens, with voting being the most direct form of participation. For minority groups, registering and voting are critical tools for advocating their rights, interests, and the issues that disproportionately affect them.
Representation in government at all levels, local, state, and federal, is crucial. Elected officials decide on various issues, from education and healthcare to immigration and the economy. When minority voices are underrepresented in the electoral process, their needs and concerns may not be addressed. By registering and voting, minority communities can elect representatives who reflect their demographics and understand their unique experiences and challenges.
Policies and legislation have different impacts on demographic groups. Decisions made by those in power can either perpetuate existing policies, which create disparities, or work towards rectifying them. Latino voters can influence policy directions by supporting candidates that address issues like the cost of living, jobs, healthcare, crime, and housing affordability, which are important issues to them based on a recent study by UnidosUS. Latinos also strongly favor a path6 to citizenship for long-term immigrants.
For democracy to reflect the people's will, it must include the diverse voices of all its citizens, especially those from minority communities. Registering to vote and participating in elections is a powerful way for these individuals to influence decisions that affect their lives. It is not just a right; it is a vital component of active citizenship and a healthier democracy.
Latinos, with an estimated 36 million eligible voters, can significantly impact the 2024 elections at the local, state, and federal levels. We must change the past trends of low turnout rates during presidential elections. Representation matters. Register, vote, and make your voices heard like never before.
In doing so, you will reinforce a key pillar of our democracy.
1 Pew Research Center “Key facts about Hispanic eligible voters in 2024”, January 10, 2024.
2 Eligible voters are U.S. citizens aged 18 or older.
3 Hispanics are of any race.
4 Based on the Pew Research Center estimate: Hispanics eligible voters
36.2M, Black 34.5M, Asian 15.0M in 2024.
5 University of Florida Election Lab.
6 UnidosUS Latino voter survey December, 2023.
Ralph de laVega is the former vice-chairman ofAT&T Inc. He is the author of the best-selling book“ObstaclesWelcome: TurnAdversity toAdvantage in Business and Life.”He is also a LinkedIn Influencer,posting regularly on leadership and innovation.
THE MISSING LINK: COACHING IN AI-POWERED TALENT OPTIMIZATION
The rise of AI-powered talent optimization platforms in performance management is undeniable. These platforms crunch data, spitting out reports, insights, and even suggested paths for employee development. But among the complex algorithms and automated recommendations, a critical element for achieving true performance excellence is often missing: coaching.
HERE'S WHY COACHING is the missing link that unlocks the full potential of AI-powered talent optimization:
1Decoding the Data: AI excels at crunching numbers, but it lacks the human touch needed to understand the "why" behind performance metrics. A skilled coach, armed with AI insights, can delve deeper, uncover the motivations and challenges behind data points, and tailor support accordingly. Did Mary miss her sales target? Is it a lack of skill, knowledge, or motivation? A coach can identify the root cause and design interventions that address it directly.
2Personalizing the Journey: AI algorithms might suggest generic learning paths or development goals, but they cannot cater to individual needs and preferences. A coach brings human nuance to the equation. They understand Mary's learning style, career aspirations, and personal circumstances, crafting a unique roadmap for growth that goes beyond pre-packaged solutions. This leads to higher engagement, better retention, and stronger performance.
3Building Trust and Accountability: AI can feel impersonal and cold, potentially creating a sense of distance between employees and the platform. A coach injects humanity into the mix. They build trust through open communication, celebrate successes with genuine praise, and offer empathetic support during challenges. This fosters a sense of accountability and ownership, driving intrinsic motivation for improvement and development.
4Unlocking Hidden Potential: Data might expose weaknesses, but a coach helps turn them into strengths. Through effective coaching techniques, Mary can overcome limiting beliefs, develop coping mechanisms, and unlock her full potential. This not only benefits Mary but also boosts team performance and fuels innovation within the organization.
ABOUT JOE
Joe Bacigalupo, MBA, MPEC, ACPEC is a Managing Partner and an Executive Advisor at AlliancesHub International, LLC. AlliancesHub offers Change Management and Strategy Consulting, Talent Optimization and Analytics, Leadership Development, and Executive/ Leadership Coaching services.
info@allianceshub.com 469-287-2086
www.allianceshub.com
The following case studies highlight the diverse ways Fortune 500 companies are leveraging AI-powered talent optimization platforms and coaching to unlock individual and organizational potential:
Adobe: A creative software leader, implemented their AI-powered platform, "Talent Amplifier," paired with a continuous feedback and coaching model. Utilizing the platform's data insights, managers and coaches provide regular, actionable feedback throughout the year, empowering employees to identify strengths, address weaknesses, and continuously improve. The results were impressive: Employees demonstrated a 35% faster acquisition of new skills compared to traditional performance management methods and a 12% increase in overall team performance within the first year, credited to improved communication, collaboration, and effective skill development.
Johnson & Johnson: A global healthcare leader, recognized the need to nurture its diverse talent pool for maximum impact. They implemented their AI-powered platform, "Catalyst," alongside a coaching program focused on individual strengths and development gaps. Coaches, trained in cultural sensitivity and inclusive practices, partnered with employees to create personalized learning journeys aligned with individual career aspirations and the company's diversity, equity, and inclusion (DE&I) goals. This program resulted in a 15% rise in representation of women and minorities in leadership positions within three years, demonstrating the effectiveness of coaching in closing the leadership gap, and a 20% reduction in unconscious bias incidents, indicative of the positive influence of coaching on fostering a more inclusive work environment. By embracing the power of coaching alongside AI, organizations can unlock a new era of performance management, one that is data-driven, personalized, and transformative for both individuals and organizations. If you want to learn more about Coaching and AI-Powered Talent Optimization, contact AlliancesHub for more information.
By William Hanhausen Courtesy of Vania Leporowski Carlos Cuevas
TRAVERSING THE UNKNOWN HYPERMEDIA ART OF
VANIA LEPOROWSKI
The hypermedia work described as "Cold Wax" by Guatemalan artist Vania Leporowski encapsulates the essence of artistry, reflecting a profound understanding of the power of visual expression of emotions and mindsets. Her skills showcase a versatility that transcends conventional boundaries, giving birth to a new body of work employing the cold wax medium. Emphasizing composition as a vehicle for her creative endeavors, the artist underscores the intentionality and thoughtfulness that define her artistic approach.
Leporowski views art not only as a form of personal expression but as a means of transmitting energy and emotions, terms she uses to name all of her works. The acknowledgment of vitality coursing through her work implies a life force that breathes energy into the themes she tackles, creating a profound and engaging artistic experience for those who witness her creations.
Vania’s chaotic compositions use a cacophony of cold wax textures and shining oil colors to depict fluid romanticisms that defy prescribed shapes. In her mixed-media, premeditated assembled work, a green manicured stroke reaches out irrationally from a painterly sweep of purple.
The artist’s recognition of the symbolic and vibrational aspects of strokes, color wavelengths, and shapes speaks to a deep awareness of the subtleties inherent in visual language. By acknowledging the importance of the mental space surrounding her artwork, Leporowski demonstrates an understanding of the dynamic relationship between art and its environment.
Furthermore, her creative process delves into the notion that the meaning of artwork extends beyond its immediate composition. Instead, it encompasses the specific structure of each piece, inviting viewers to discern not only the presented subject matter but also the inherent beauty that serves as a source of harmony and balance. In essence, it is a vibrant exploration of her own culture and human experience.
Growing up in Guatemala, Vania was immersed in the land’s rich artistic history dating back to pre-Columbian times by the Mayans. This influence shaped her as a teenager, instilling a love for art where mindfulness becomes a tool for understanding the complex relationships between individuals and the world around them. The inspiration for her work stems from the feelings running throughout her veins when she is working, drawing from the native Guatemala colors of greens and reds, inspired by the seasonal traditional “Candelas.”
Vania’s ability to navigate and seamlessly integrate traditional and modern techniques with cold encaustic wax positions her as a dynamic and forward-thinking creative force in the art world. The contemplation of Vania Leporowski's artwork is not merely an exercise in deciphering notations and marks; it is an invitation to experience each piece as a living entity. Rather than reducing the art to a puzzle to be solved, it advocates for a more profound and enjoyable engagement with each piece, fostering a rich and dynamic viewing experience.
Born in Guatemala, Vania Leporowski has lived in Barcelona, Buffalo N.Y., and moved to Houston in 1985, where she continues to develop her new technique of self-expression through colors, textures, and shapes. Early influences on her technique include works by Carlos Mérida, Ramirez Amaya, Roberto González Goyri, and others of the “Generación del 40.” This led her to study at the renowned “Institucion Artistica De Enseñanza (IADE)” in Barcelona, Spain. During her time in Barcelona, Leporowski’s artistic expression led to several shows, with private collectors taking notice and acquiring her paintings.
Upon returning to Guatemala, Leporowski studied under the guidance of the wellknown muralist Marie Andree Bartlett and also collaborated with the Margarita Tejada Parra Down Syndrome Fundación.
Among Leporowski's latest major exhibitions are: “Splash of Color” at Monterroso Gallery, Houston, Texas in 2022; “Festival de Arte” at the Rozas-Botran Contemporary Museum, Guatemala City, Guatemala in 2021, and “Primavera“ at Galleria Regina, Houston, Texas in 2016.
“Artisgreaterthansciencebecausethe later proceeds from laborious accumulationsandcautionreasoning,whiletheformerreachesitgoalatonebyintuitionand presentation.”-Schopenhauer
At the core of the mysteriousness inherent in each work lies a psychic residue, a product of the ineffable distance between conscious reality and the unconscious processes involved in capturing the beauty of the artist’s painterly application.
FROM WRITING AND ACTIVISM TO STRATEGIC CONSULTANCY:
HOW FABIAN NUÑEZ PAVED HIS WAY TO SUPPORT PEOPLE THROUGHOUT HIS CAREER
Fabian Nuñez, the founder and managing partner of Actum, has lived a life shaped by a deep sense of purpose and a passionate commitment to change. His journey from a humble background in San Diego to becoming a pivotal figure in strategic consultancy for government agencies embodies resilience, determination, and a passion for making a difference.
Luisana Rodriguez Armando Arorizo, The Perfect Exposure F. Izquierdo
BORN IN the mid-60s in San Diego, Fabian's family later moved to Tijuana, where his parents worked hard to make ends meet. At age 6, he was back to the U.S. with a desire to keep the Spanish language knowledge as his first tongue. Growing up in Logan Heights in San Diego and constantly visiting La Jolla due to his parents' work, he realized about the dichotomy they lived in: “In La Jolla, you would see families, people walking down the street, libraries, and nice views to the beach. Whereas in my neighborhood, I lived right by the bay, but my views were the smokestacks of a shipbuilding company. For me, all these things created a real sense of purpose from a very young age,” he reflects.
“I FELT LIKE MY REASON FOR BEING IN THE WORLD IS TO DO SOMETHING ABOUT THAT. TO RIGHT THE WRONGS.”
Eventually he would decide his academic journey at UC San Diego with a focus on literature, drawn to the power of language and the written word as a means of expression. This passion for writing evolved into a deeper understanding of politics and history, leading
him to engage as an activist in Los Angeles in the late '80s, advocating for undocumented immigrants' rights. His activism unveiled the harsh realities of exploitation faced by these individuals in various industries. When he started working to help undocumented immigrants, he realized how tough their lives were. But he also saw how much they sacrificed for their kids, which touched him deeply. Transitioning into the political arena after involvement in defeating an anti-immigrant initiative, Fabian's career grew. He was elected to the state legislature and later becoming Speaker of the State Assembly, he faced challenges that tested his ideological values. However, this journey provided profound insights into the economy and the interplay between social programs and a robust economy.
“THE MOST CHALLENGING THING FOR ME WAS TO BE ABLE TO UNDERSTAND MY OWN SENSE OF VALUES, MY VIEWS, MY IDEOLOGICAL VIEWS AND LEARNING WHEN TO SET ASIDE IDEOLOGY."
PARTNER & CO-CHAIR
FOUNDER & MANAGING PARTNER
ANTONIO VILLARAIGOSA
FABIAN NUNEZ
PETER VILLEGAS CO-CHAIR
ACTUM
Actum is a global consulting firm, built to deliver highly meaningful and measurable outcomes for our clients around the world. Their capabilities in strategy, management, execution, communications, government relations, storytelling and narrative development, digital and social media, advocacy mobilization, special groups, political consulting, public opinion research and data, are all best in class, because their people are best in class.
After leaving politics, Fabian ventured into consultancy, leveraging his experience and insights first at Mercury Public Affairs to co-found Actum with his 15 year business partner Kirill Goncherenko. In a few short years, Actum has blossomed into a thriving consultancy firm with a global footprint, focusing on diverse sectors from startups to Fortune 100 companies. Now, they've been in business for two years, have over 100 employees, and their offices range from New York, Washington, Los Angeles, Sacramento, London, and soon to be growing in Europe, with a diversified client profile that requests their help.
When asked about how his Mexican background adds value to his work, he shares a thoughtful metaphor: “When you're a kid and you open the refrigerator and there's not a lot of food. Knowing your parents work non-stop, you become extremely practical. That pragmatism ultimately sort of drives inside of you a lot of the decision making of how you evaluate things around you in the world that you live in. So, my clients get the benefit of having my deep thinking on these kinds of issues.” The core of Fabian's success lies in his authenticity and unrelenting work ethic. His advice for budding entrepreneurs echoes these qualities that support a successful business.
As Actum continues its journey, Fabian envisions it becoming the epitome of excellence in the consultancy realm, aiming for a billion-dollar valuation. In a world navigating technological advancements and evolving social norms, Fabian's experience offers a unique perspective, aiding clients in navigating the complexities of change. He underscores the practicality ingrained in his background, shaping his strategic advice and guiding Actum's approach to client solutions. Nuñez's story is one of determination, leveraging his experiences and values to create a legacy of impact, innovation, and authenticity in the consultancy space.
“THERE’S NO SUBSTITUTE FOR AUTHENTICITY AND HARD WORK.”
INDEX 500 OF THE LARGEST LATINO-OWNED COMPANIES
I N D E X
THE LARGEST LATINO OWNED COMPANIES 2024
This Index is a snapshot of the power of the Latino business owners in the United States.
This is the compilation of the largest latino-owned companies in the United States. To qualify the company-owner/control of operations must come from Latino origin and it has to be headquartered in the United States. Companies are ranked according to revenue size, either estimated or confirmed from 2023.
The array of companies displays the diversity of industries at which Latino business acumen is growing and setting the standard for future generations. As we go forward and receive updated information, we will include it in all our print and digital platforms.
Powered by
We all know that the Latino community is the most entrepreneurial in America. Either by necessity or by opportunity, Latino business owners have been businesses,creatingemploying people, creating wealth, investing in opportunities, and contributing to growing the economy faster than any other ethnic group in the U.S. Their contribution to the economy is astonishing. They have fantastic stories of resilience,leadership,innovation, and business creation.
But who are these business owners? Where are they? How much revenue do they generate? In what industries are their businesses? Where are their companies based? These answers are challenging to find.
Over the years, there has been a need for more information and organized data on the full size and relevance of all these businesses, which, according to the United States Hispanic Chamber of Commerce, are more than 5 million and growing. In this situation, assessing these businesses' relevance and impact on local and national economies and industries is hard. Not only that, but it isn't easy to know what industries they are more relevant to, how many jobs they create, and what those regions are in which they flourish.
If we could have a tool that could show even some basic and general information on the questions above, this tool would be phenomenal for banks and financial institutions; they would know who and where their potential clients are. For local and federal agencies, it
would mean a fantastic picture of where the Latino entrepreneurship and business community is going. It would be a great way to identify potential suppliers and contractors for Corporate America. For all these Latino-owned businesses, it could mean a sense of community that could give them power for representation and muscle to grow and expand as a group and not just as separate individual businesses.
That is precisely our objective with the Index500. It is the start of this database of Latino-owned (and/or controlled) companies based in the U.S.
The result of this edition is research from our journalist team, advisors, partners, and allies to create this list and keep it updated over time. The job has been challenging, starting with knowing where to find them and who to look for and confirm their numbers. The numerous individuals involved in the curation of the Index500 come from many avenues with different approaches to the many sources we have identified. Of course, the ultimate source is the company itself, but to get there is even more difficult.
"The Index platform was born as a collective desire to showcase the most prominent companies in the United States with majority ownership from Latinos according to annual revenue. This exciting journey started in 2023, and it immediately indicated the business power and entrepreneurial spirit of hundreds of successful families and individuals, across multiple generations in many cases, who are proud of their origin and have their headquarters located in any of the 50 states.
While the U.S. Latino GDP would rank as the fifth largest economy in the world, other specific state Latino economies in California ($682 billion), Texas ($465 billion), and Florida ($240 billion) are thriving and generating significant shifts as companies look to expand. The California Latino economy alone would rank as the 21st largest in the world. Notably, the total combined revenue of the Index500 is estimated to be over $100 billion, and most of these companies are growing much faster than their competitors and are vital employers nationally.
The growth in our economy will continue to be fueled by Latinos and their entrepreneurial spirit!"
However, we’re proud of the first cut we publish here on the following pages. As we said, it is the product of a large team and group of people interested in putting this together. For Latino Leaders, having a good and powerful partner was essential to bring this edition to life. We are proud to say that we found it in BMO through Eduardo Tobon, a visionary banker who helped us to co-create this list and has been a tremendous promoter of the concept.
A key ally and a magnificent contributor has been the United States Hispanic Chamber of Commerce. With the support of its leadership, Ramiro Cavazos and his team have been essential allies on this initiative. While many of the companies listed are already members of the USHCC, some others are not; however, the USHCC has been a great support in identifying Latino businesses and introducing the sense of a larger community of Latino Business Owners working together for higher causes and purposes. The USHCC is the largest and most recognized business organization in the Latino community of the U.S.; its vision has been vital to working in the Index500.
Eduardo Tobon BMO and Co-creator of the Index500
Our ultimate mission is to keep feeding this Index500 and keep it updated and accurate. According to our estimates, we have only reached some Latino-owned businesses. Our mission is to continue to invite companies, business owners, and executives to participate and become part of this list, which at the same time is the most powerful group of Latinos in America, the business owners.
Ferraez Publisher Latino Leaders Magazine
Jorge
Eduardo Tobon y Jorge Ferraez
BOLDLY EMPOWERING LATINO ENTREPRENEURS:
LATINO LEADERS INDEX500 POWERED BY BMO
EXECUTIVE FORWARD
Courtesy
of
BMO F. Izquierdo
WE ARE PLEASED to partner with Latino Leaders to create the Latino Leaders Index500 powered by BMO, which ranks revenue of U.S. companies that are majority Latino-owned.
At BMO, we are driven by our purpose, to Boldly Grow the Good, in business and life. We are focused on helping all of our communities make progress, which is why we are thrilled to continue our partnership with Latino Leaders magazine to recognize the significant contributions of Latinos in the business world.
Latinos are the largest minority group in the United States, compromising 19 percent of the population, and driving over $3.2 trillion in economic output to the U.S. economy. The growing Latino business community continues to demonstrate that it plays a powerful and integral role to our country’s economic growth. But we also know that access to capital remains an obstacle for Latino entrepreneurs.
As the 8th largest bank in North America, BMO understands these unique challenges and is committed to helping expand possibilities for Latino-owned businesses and removing traditional barriers to financial progress by providing better access to capital, better access to education and better access to partnerships. BMO EMpower 2.0 is our more than $40 billion community benefits plan, which is a series of commitments that address key barriers to economic inclusion. As we grow, we are expanding our reach, making new connections, and welcoming new relationships with the communities we serve to better serve them now and in the future.
Please join me in congratulating all the companies that make up the Index 500. We know the Index will continue to grow – both in influence and power – and BMO is proud to support and enable your progress.
We look forward to having you join us at one of our upcoming events in Dallas, Denver, Chicago, New York City, Miami, Phoenix, and Los Angeles.
Warm regards,
Eric Smith Vice Chair, BMO
AS THE 8TH LARGEST BANK IN NORTH AMERICA, BMO UNDERSTANDS THESE UNIQUE CHALLENGES AND IS COMMITTED TO HELPING EXPAND POSSIBILITIES FOR LATINO-OWNED BUSINESSES
LATINO BUSINESS OWNERS: AMERICA’S ECONOMIC POWERHOUSE
RAMIRO A. CAVAZOS
UNITED STATES HISPANIC CHAMBER OF COMMERCE PRESIDENT & CEO
AS PRESIDENT AND CEO of the United States Hispanic Chamber of Commerce, I know there is a direct correlation between economic opportunity for the exchange of business and adding value through our more than five million Hispanic-owned businesses, over 260 Hispanic chambers of commerce and 63.7 million Hispanics in the U.S. Boasting a GDP of $3.2 trillion, Hispanic Americans comprise the world's fifth largest economy and our chamber is committed to building a robust ecosystem to help accelerate this growth and prosperity. The future of America's economy depends on a thriving Latino business community.
At the USHCC, we proudly advocate for small businesses by providing necessary tools and resources to help them thrive. It’s a mission we are celebrating the 45th anniversary of this year. Hispanic-owned enterprises account for 82% of new business in the U.S., opening at three times the national average. Moreover, Latinas create small businesses six times faster than any other group in the U.S. By supporting minority-owned businesses, we fuel this unstoppable momentum.
Every day, we serve the needs of our business, chamber, and corporate leaders by focusing on what we call the "Three C's": access to capital, connections and capacity building. We know these pillars enable us to scale their services with Fortune 500 corporations and U.S. government contracts, fostering confidence among our members.
Hispanic-owned businesses, many of which grow into Fortune 500 firms themselves, are also leading the U.S. economy in job creation and generational wealth. The numbers speak for themselves— If Latinos' share of employer business ownership aligned with their share of the population, they could contribute 6.6 million new jobs to the U.S. economy. With Latinos projected to reach 28% of the U.S. population by 2060, our influence presents a burgeoning market for Latino-owned businesses and U.S. consumers alike.
As proud partners of Latino Leaders Magazine, we understand the economic power of this vibrant community and invite you to participate in our progress. Hundreds of corporations are increasing their diversity and inclusion investments, recognizing the potential growth and influence within the Hispanic-American consumer market. The Index 500, recognized by Jorge Ferraez, showcases these businesses and their positive impact on our communities.
The Latino community is positioned to drive the expansion of the world's largest economy for years to come. We are just getting started!
Leadership: Jose Mas
Employee count: 33,000
Company website: mastec.com
$12,000,000
Leadership: Ernest Garcia III (CEO)
count: 10,001
Leadership: Rick and Patty Arvielo (Owners) Employee count: 3,774
website: newamericanfunding.com
Leadership: Mike Choutka
count: 3,000
Leadership: Alfonso Fanjul (CEO)
Employee count: 3,000 Company website: floridacrystalscorp.com
Company website: sdintl.com Revenue per year: $21,000
491
GARCES, GRABLER & LEBROCQ **
Professional Services • Personal injury, immigration, criminal law Hackensack, NJ
Leadership: William J. Garces (Founder/Partner)
Employee count: 110
Company website: garcesgrabler.com Revenue per year: $21,000
492
BIENVIVIR ALL-INCLUSIVE SENIOR HEALTH **
Health Care • In-house dementia care El Paso, TX
Leadership: Rosemary Castillo (Founder/CEO)
Employee count: 750 Company website: https://www.bienvivir.org/ Revenue per year: $21,000
493
• Period care products Boise, ID
Leadership: Cherie Hoegoer
Employee count: 30 Company website: https://saalt.com
per year: $20,600
494
REPUBLICA HAVAS ** Advertising, Marketing & Media • Media Miami, FL
Leadership: Jorge Plasencia (CEO/Chairman)
Employee count: 180 Company website: republicahavas.com Revenue per year: $20,000
495 FALCON ELECTRONICS **
Retail • Consumer electronics, computers Commack, NY
Leadership: Brian Diaz (President)
Employee count: 80 Company website: falconelec.com Revenue per year: $20,000
496
TITAN ROOFING **
Engineering / Construction • Exterior, commercial roofing Springfield, MA
Leadership: Fred Pazmino (CEO)
Employee count: 130 Company website: titanroofing.com
Revenue per year: $20,000
497
BLU DIGITAL GROUP *
Information / Technology • Broadcasting software Burbank, CA
Leadership: Paulette Pantoja (CEO/Owner)
Employee count: 150 Company website: https://bludigitalgroup.com/ Revenue per year: $20,000
498
ALBU & ASSOCIATES, INC. **
Engineering / Construction • Industrial projects Winter Park, FL
Leadership: Jason Albu
Employee count: 30
Company website: https://albu.biz
Revenue per year: $20,000
499
GREENTEK SOLUTIONS ** Information / Technology • IT upgrades Stafford, TX
Leadership: Anuar Garcia
Employee count: 30 Company website: https://www.greenteksolutionsllc.com Revenue per year: $20,000
500
TORO CONSTRUCTION CORP. **
Engineering / Construction • Commercial/residential Orland Park, IL
Leadership: Socorro Vazquez
Employee count: 125
Company website: https://www.toroconstructioncorp.com/ Revenue per year: $20,000
OVERALL REVENUE OF THE 500 LARGEST LATINO OWNED 134,315,973,
000 • TOP 10 STATES WITH
449,658 Overallnumberof employeesinthe500 companieslisted • TOTAL REVENUE PER INDUSTRY
INDEX 500 DATA
ECONOMIC OVERVIEW OF HISPANIC BUSINESSES IN AMERICA
Our partners for the Index 500, the USHCC, provided some very insightful data on the current status of Latinos in the United States, as well as the economic impact of their businesses.
Latinos create businesses three times faster than any other group in the United States (The Poynter Institute). Latinos/as are the engine of America’s future economic growth.
86%
From 2007 to 2012, of new small businesses in the United States were U.S. Hispanic- owned businesses (CNBC).
63.5 5
Latinos/as represent over million residents in America today, comprising 1 out of every Americans (Pew Research Center).
Latinas create businesses six times faster than any other group in the United States (Latino Community Foundation).
$3.2
Latinos contribute nearly trillion to the U.S. Gross Domestic Product (GDP) each year (Latino Donor Collaborative).
335
The U.S. has a population of million as of 2022 (Worldometer).
The U.S. population is equivalent to of the total global population (Worldometer). 4.25%
1
More than million immigrants arrive in the U.S. each year (Pew Research Center).
If we were our own country, U.S. Latinos/ as would represent the 5th largest economy in the world (Worldnews).
335,326,930 – Current U.S. population (Worldometer).
At least 63,500,000 self-identify as Hispanic (Pew Research Center).
40
Two thirds or million Hispanics were born in the U.S. (New America Economy).
Today, the fastest-growing Latino communities are in: North Dakota, Alabama, Georgia, Pennsylvania, Louisiana, South Dakota, and Utah (Pew Research Center).
Hispanics represent more than of the total U.S. population (Pew Research Center).
1/2
18% of Latinos/as live in Texas, Florida, California, New York, and Arizona – the other ½ live throughout the country (Pew Research Center).
The Economic Impact:
• Hispanics are the economic engine of the U.S. economy.
• Latinos/as will be 75% of the labor growth in the next ten years (Nielsen).
• 80% of U.S. jobs are created by small businesses ( JP Morgan Chase Institute).
• Latinos start more businesses per capita than any other racial or ethnic group in the United States (McKinsey).
• The Hispanic population in the United States is expected to double in 40 years, from 63.5 million in 2020 to 128.8 million in 2060 (U.S. Census)
GREAT PEOPLE: THE KEY OF A SUCCESSFUL BUSINESS
AUSTIN RAMIREZ, CHIEF EXECUTIVE OFFICER, HUSCO
Courtesy of Husco Carlos Cuevas
What experiences in your personal upbringing influenced your entrepreneur spirit?
AR: My father (Gus) is a Puerto Rican immigrant who raised me with a deeply held belief in the American dream and an entrepreneurial grit that is so common among immigrants to this country. One of my earliest childhood memories was hearing my mother explain to our neighbor her fear that we would wind up living on the street because our family had mortgaged our home and all our possessions to finance the acquisition of Husco, which Gus purchased in a management-led LBO in 1985. This willingness to take big risks and bet on our ability to succeed is still an important part of the ethos of our company today.
What challenges have you faced being a Latino owned company?
AR: Being a Latino-owned company has given us far more opportunities and advantages than disadvantages. We are proud of our Latino heritage and deeply invested in the Hispanic community in Milwaukee. We believe that each individual human has unlimited potential regardless of their race, gender, or creed. This spirit of inclusivity combined with a culture that demands high performance has allowed us to recruit and unleash the most talented team in our industry.
What opportunities have allowed your company to grow exponentially?
AR: Husco’s culture is built around the expectation for each individual employee to demonstrate practical innovation, take smart risks, and deliver high performance. The leadership at Husco has two primary jobs. The first is to recruit great people. We look for employees that are not only highly talented and hardworking but also people who care about their community, play well with others, and can operate effectively in dynamic and uncertain environments. Our second most important job is to create a culture in which those individuals can reach their full poten-
tial. If we do those two things effectively, growth is a natural byproduct.
What has been the key to your success? What have you done differently from other companies in the same industry?
AR: Husco’s business model is built around delivering customized, proprietary products to our customers. We serve some of the largest automotive and equipment manufacturers in the world, providing key components for their most important products. We strive to serve as an extension of our customers’ engineering team, providing differentiated solutions in high volume at a globally competitive price with perfect quality and delivery.
If you were to start over again, what would you do differently?
AR: I have made (and continue to make) plenty of mistakes, but I wouldn’t do it any differently if I had the chance to start over again. Every mistake we make is an opportunity to learn how to do things better and a reminder to be humble because we will never get everything right.
What advice would you give to the new generation of Latino entrepreneurs?
AR: The ends do not justify the means. Work as hard to become a great person as you work on building a great company. Financial success is wonderful but becoming a virtuous person is the only way to find happiness.
WE LOOK FOR EMPLOYEES THAT ARE NOT ONLY HIGHLY TALENTED AND HARDWORKING BUT ALSO PEOPLE WHO CARE ABOUT THEIR COMMUNITY, PLAY WELL WITH OTHERS, AND CAN OPERATE EFFECTIVELY IN DYNAMIC AND UNCERTAIN ENVIRONMENTS.
BE RELENTLESS AND INTENTIONAL TO SUCCEED
Arianna Villarreal Courtesy Moisés Cervantes
MARIO MURGADO
CEO AND PRESIDENT, MURGADO AUTOMOTIVE GROUP
It takes a generational leader to revive flagging car dealerships into top national performers. Mario Murgado was precisely that leader. With his Cuban roots, Mario was instilled with a resilient spirit. He shared, “One of the great gifts my father gave me was that no matter what situation you are in or where you are, you can read. And if you read, you can explore the world and learn many things.” While he dreamed of becoming a professional baseball player, his love for cars was stronger, so he instead walked into Braman Imports where he began his career in the automotive industry.
Starting in 1981, Mario embarked on his career as a salesman at Braman Imports' Honda location, setting ablaze a spirit of entrepreneurship and a commitment to service excellence that would shape his professional journey for decades. Witnessing the company's expansion and trajectory under Braman's leadership, Mario ascended to the roles of general manager and managing partner, ultimately seizing the reins as CEO in 1993. Fusing practical experience with insights from industry titans who paved the way before him, he reflected, "I am forever grateful for the opportunity to work with industry icons like Roger Penske and Norman Braman. I always looked up to them and the other pioneers in our industry.”
In his ascent to CEO, Mario highlighted the crucial role that hardships played in his meteoric rise. He elaborated, "You learn more from failure and challenges than success. The lessons from heartache require overcoming and solving problems." More specifically, he shared, “When I departed from Braman Honda to start Murgado Automotive Group, they held a staggering 98% of the market share, leaving me with a mere 2% at my neighboring store. Picture taking on Goliath with just a 2% market share and selling 16 cars.” Today, his company boasts $2.2 billion in sales with over 1300 employees working to provide the best service possible.
While in this venture, he acquired a GMC dealership that faced the challenge of selling only six cars a month, making it financially unfeasible to hire additional salespeople. Initially, it was just Mario and his partners navigating this endeavor. He stated, “Hiring becomes challenging when you're not making sales. So, we had to shake off the inertia to propel the business forward.” In response, they held regular meetings in the morn-
"I THINK OUR ACCESSIBILITY IS UNIQUE. WHEN PEOPLE CONTACT ME, THEY GET MY DIRECT LINE AND PHONE NUMBER. SO WHEN PEOPLE WALK INTO OUR DEALERSHIPS, IT FEELS LIKE A FAMILY."
ing and afternoon, where the partners collaborated to craft strategic plans to tackle the market and foster rapid growth.
As Mario began building his automotive empire, he understood another critical aspect: his most important asset is his people. "Cycles and challenges come and go, and if you have great people, they are with you through that. They will follow and work with you if they believe in your visions and dreams. It is a journey, but the core of our people has to be those that stick with you."
In emphasizing the importance of a holistic approach to leadership, Mario provides practical guidance to his managers. He advises, “I tell our managers to multiply the employee number by four because you always need to consider the family. If you approach it like that, we are reliable and accountable to 5000 family members.”
Reflecting on his business partners, "I viewed their partnership as a lifelong commitment. I never saw it as a mere beginning and end." Mario ensured that the bedrock of their most significant strength lay in a relationship built on trust and mutual respect. He further adds, “We never blur the lines. We identify what we’re going to do, what the approach is, what the vision is, what the responsibility for each person is, and having that all clear."
As he reflects on what has made the Murgado Automotive Group stand out from others in the industry, he says, "Number one is that we were always working. People could call us at any time." He expands, saying, "I think our accessibility is unique. When people contact me, they get my direct line and phone number. So when people walk into our dealerships, it feels like a family."
In every aspect of his company, Mario makes sure people know he understands them. He shares, "I get a kick each time a Latino buys their first new car. They’ll bring their abuela, their abuelo, their tios, cousins, and everyone sees the enjoyment of getting their car. Everyone is clapping for them because it is an accomplishment. I relate it to my first time on a plane as a kid. Everyone was wearing a suit. Today, it looks like they are going with pajamas. Back then, everyone was in a suit because it was special."
He advises young Latinos, "Never let anyone turn your light off. Don’t let anyone take your flame. Don’t let anyone stop you. Be relentless, but most importantly, be intentional. We all have a tremendous purpose, but it is enormous when you put intent behind it." Mario's advice remains rooted in unwavering commitment, relentless drive, and resilience—a testament to the legacy his family and those who came before him instilled in him.
THE AMERICAN DREAM: BUILT BY HARD WORK, BLESSINGS, AND FAMILY
Welcome Jose Mas, Chief Executive Officer of MasTec Inc. (NYSE: MTZ)
JOSE MAS, CEO of MasTec Inc., has helped scale his family business into the largest diversified infrastructure services provider in North America. Under his leadership, MasTec’s revenue has grown from $930 million in 2007 to more than $12 billion in 2023. In 2018 for the first time in the company’s history, MasTec was named as a Fortune 500 company. Today, MasTec has more than 33,000 team members serving multiple industries throughout the U.S.
Faith, family and freedom. These were the words Jose Mas used when describing MasTec Inc. The story of his company dates to the sixties, when his father was given the chance of a lifetime. It started when the late Jorge Mas Canosa was offered the opportunity to come to the United States to be trained by U.S. soldiers. From there, he started his life in America by becoming a milkman.
Mas Canosa had the opportunity to participate in an entrepreneurial venture, when friends asked him to lead their struggling construction company in Miami. Knowing his talents, they positioned him to run the company and in an exchange, they offered him half their company if he turned things around. From there, things took off for the Mas family.
“My dad worked his tail off to build this company and get ahead. I remember sitting around the dining table and worrying about payroll and all the lessons that come with that,” Jose explained.
It was his father’s hard work and perseverance that helped shape him into the man he is today. He remembers observing his dad at a young age and learning valuable skills and the work required in pursuit of the American dream.
One important lesson his father taught him was the importance of education. Before his death, his father started the Jorge Mas Canosa Freedom Foundation, which provides scholarships to Cuban-American students. To this day, the scholarship is dedicated to honoring Jorge Mas Canosa’s legacy by carrying on his values: love of God, family and homeland; the dignity of human life; the ideals of freedom and democracy; and the education of future generations in the appreciation of these ideals.
“Today we put over 300 kids in college, all of Hispanic descent, and we are really proud of that.”
More recently, the foundation has experienced a significant increase in applicants, reflecting a growing interest and need
for this program. In response to this growth, the foundation will be expanding its scope which includes an enhanced focus on mentorship opportunities. Through this initiative, the foundation will connect its current and past scholars with a vast network of relevant partners. By leveraging these connections, the foundation will continue to empower students on their educational journey and beyond.
Jose’s involvement in the family business began in 1992 after Hurricane Andrew's catastrophic damage in South Florida. Many families lost their homes and the road to recovery was long. Mas Canosa played a central role in reconstructing the Miami we know today through their construction business. He called on Jose to step into the family business and together they expanded the company's reach, revenue and impact.
“Shortly after the hurricane one of the companies that helped us do the construction was a publicly traded company also struggling and they ended up buying our business. So, we took our family-owned business Church and Tower and converted it to MasTec in 1994. My family and I are blessed,” Jose says, “we don’t take that for granted. We worked hard to earn what we have, to be where we are.”
In 2007, Jose was appointed CEO of MasTec Inc. Since his appointment, the company’s revenue has grown by more than 1,300%.
Jose has been awarded the Ernst & Young National Entrepreneur of the Year Award, the South Florida Business Journal Ultimate CEO Award and was also featured in the season finale of the CBS hit show Undercover Boss. Additionally, in 2020, Forbes magazine named MasTec to its list of World’s Best Employers. He currently sits on the Board of Trustees for the University of Miami and the Board of Directors for the United States Hispanic Business Council.
One of the family’s most recent accomplishments was bringing an MLS Club to Miami, Inter Miami CF. Most recently, the group was able to sign one of the biggest soccer stars in the world: Leonel Messi.
Yet, throughout all his success, Jose has one mission: to continue serving and blessing those around him.
“What I hope I can leave behind through my work and in my legacy is this idea that we have to be incredibly grateful for the opportunities we have in life,” Mas said. “Gratitude is not just saying the words, it’s your actions.”
Lorenzo Almanza Latino Leaders Magazine F. Izquierdo
YET, THROUGHOUT ALL HIS SUCCESS, JOSE HAS ONE MISSION: TO CONTINUE SERVING AND BLESSING THOSE AROUND HIM.
• As President and CEO, Arthur believes success is firmly rooted in his community and the people he surrounds himself with. He takes his role as CEO/ President very seriously knowing he is responsible for his employees and their families.
Courtesy of MZI Carlos Cuevas
IDENTIFYING TRENDS FOR SUCCESS
What challenges have you faced being a Latino-owned company?
AZM: Being a Latino-owned company has presented its share of challenges, there were times when doors seemed closed, and opportunities were limited. However, these challenges fueled my determination to focus on the quality of service MZI provides. I've worked hard to establish MZI as a respected player in the industry, proving that excellence knows no ethnicity.
What opportunities have allowed your company to grow exponentially?
AZM: MZI's exponential growth can be attributed to several factors. First and foremost, identifying emerging trends in the industry has allowed us to stay ahead. Our diverse services of Telecom, Electrical, Mechanical, Energy Infrastructure, Utility Projects, and more has positioned us as a comprehensive turn-key solution provider. Embracing innovation, fostering a culture of integrity, and prioritizing community engagement have also been key drivers in our success.
What has been the key to your success? What have you done differently from other companies in the same industry?
AZM: The key to MZI's success lies in our unwavering commitment to our community and employees. I believe that success is deeply rooted in the people we surround ourselves with. By fostering a culture of integrity, family, and safety, we've created a workplace where employees thrive. Differentiating ourselves by prioritizing worldclass service and actively engaging in philanthropy has set us apart in the industry.
If you were to start over again, what would you do differently?
AZM: While every journey comes with its lessons, I wouldn't change much about the path that brought us here. However, I would perhaps invest even more in technology and
THE
STORY OF: ARTHUR ZAYAS MILLER PRESIDENT/CEO, MZI GROUP
innovation from the outset. Embracing cutting-edge solutions early on could have provided a competitive edge and streamlined our processes further.
What advice would you give to the new generation of Latino entrepreneurs?
AZM: To the new generation of Latino entrepreneurs, I would emphasize the importance of perseverance, integrity, and community engagement. Don't let challenges define you; let them fuel you. Surround yourself with a diverse and talented team and remember that success is not just about personal achievement but also about lifting others with you. Stay true to your values and never underestimate the power of giving back to the community that supports you.
ARTHUR IS A BOARD MEMBER OF ILLINOIS HISPANIC CHAMBER OF COMMERCE, LOYOLA UNIVERSITY HEALTH SYSTEM, AND NATIONAL ASSOCIATION OF VETERAN OWNED BUSINESSES.
• MZI has built a reputation for providing a comprehensive turn-key choice for even the most complex challenges, while making it a priority to foster mentorship, community engagement and giving back.
COMMITMENT THAT GOES BEYOND
????? Courtesy of Fortune Growers Luis E. González
LUIS SOLARTE CEO & PRESIDENT, FORTUNE GROWERS
Q&A
Q What experiences in your personal upbringing influenced your entrepreneur spirit?
LS: Both of my parents were a huge influence on my entrepreneurial spirit. My father through his constant search for ways to make his small auto shop business grow and succeed. My mother through her belief in higher education and strong work ethic.
Q What challenges have you faced being a Latino owned company?
LS: None, when you provide value. We stay focused on our key opportunities, staying diligent on our performance, quality, and maintaining the well-defined value of our company.
Q What opportunities have allowed your company to grow exponentially?
LS: Our vision to have a win-win collaborative relationship with all supply chain stakeholders in our market segment. We are in a beautiful but challenging industry (Agribusiness), an Industry that is part of the most needed goods and with continuous growth because of demographics and change in diets worldwide. But even though it would seem simple to grow in this business, all small and medium size Growers on both sides of the border are struggling financially to survive because of lack of financial support and the high inflation seen in their supplies (20—30%), which can’t be transferred to the clients. We are a North-American company, but our focus is not only in the US, and we envisioned the “nearshoring” trend more than 16 years ago when we invested and started to grow our own products in Guanajuato, Mexico.
Q What has been the key to your success? What have you done differently from other companies in the same industry?
LS: I have emphasized having a clear vision, aligned leadership team, and guiding core values. These aspects have served as the glue that brings our company together, keeping our actions aligned with the best interests of our employees, our customers, our suppliers, and the environment.
There is where our Fortune Growers Way (FGW) business model comes in to allow the Growers’ growth with: financial support, knowledge transference, the use of apps/IoT, analytics to improve their productivity, and at the field accompaniment from our FGW accelerators during the seed, plant and harvesting season. Historically the wholesalers and produce brokers in the US have limited their relationship and commitments to get the product with the right quality and cost, and if not reject it. Our relationship and commitment with the Growers and our Clients goes beyond that.
Q If you were to start over again, what would you do differently?
LS: I would incorporate a stronger financial team at the beginning and develop a solid training program for the whole company so they would understand the financial implications of each department and how their activities roll up into profitability. We have a great team, with great human beings collaborating every day to deliver great products to our clients, but my biggest challenge and also of my leadership team, is connecting the dots real-time in everything we do, from the seeds to the client (farm-to-client holistic approach). There is where the efficiencies lie and really start kicking in into your P&L and growth projection.
Q What advice would you give to the new generation of Latino entrepreneurs?
LS: Color, gender, or ethnicity are not a limiter to success. Success and impact will depend on your desire, discipline, and drive. Your character will open doors, and courage is what it will take to step through.
“A CLEAR VISION, ALIGNED LEADERSHIP TEAM , AND GUIDING CORE VALUES. THESE ASPECTS HAVE SERVED AS THE GLUE THAT BRINGS OUR COMPANY TOGETHER, KEEPING OUR ACTIONS ALIGNED WITH THE BEST INTERESTS OF OUR EMPLOYEES, OUR CUSTOMERS, OUR SUPPLIERS, AND THE ENVIRONMENT.”
UNWAVERING COMMITMENT TO HELPING OTHERS
NESTOR PLANA CEO, INDEPENDENT LIVING SYSTEMS
NESTOR PLANA is widely recognized for his innovative contributions to the healthcare industry. As a Latino leader, he boasts nearly 35 years of experience dedicated to providing healthcare services for at-risk populations and shifting the focus from institutions back into the community. Currently serving as the founder, Chairman, and CEO of Independent Living Systems (ILS), Nestor remains committed to bridging the gap between traditional healthcare models and the distinctive needs of the most vulnerable members of our society.
Reflecting on the journey that spans over three decades, Nestor pointed to a pivotal moment. He shared, “The most influential catalyst that sparked my entrepreneurial spirit was when my parents arrived from Cuba.” In his formative years, he absorbed a profound appreciation for freedom, particularly due to his father's influence. “My father always told me that in this country, you can do and be anybody you want to be. We have the opportunity to come to this country and treasure freedom,” he emphasized.
Similarly, Nestor attributes many of the values he holds today to his parents. He reflected, “They always told me: if you help others, everything else will fall into place.” Nestor disclosed that his parents instilled in him the importance of doing the right thing, taking care of people, and prioritizing others over oneself. Alongside his parents, two mentors played a crucial role in shaping his values. The first was the CEO of a hospital where he began his career, whom Nestor acknowledges by saying, “The CEO gave me tremendous opportunities to grow and evolve.” However, he reserves the utmost credit for his business partner of 22 years, describing
IN FACING THESE CHALLENGES, NESTOR EMPHASIZED WHAT SETS ILS APART FROM OTHER COMPANIES: “IT IS PRECISELY THAT WORD: COMPASSION. WE CARE ABOUT THE PEOPLE WE PROVIDE SERVICES TO AND THOSE WE PROVIDE SERVICES FOR.”
Courtesy of Independent Living Systems F. Izquierdo
him as a figure akin to a father to his children. He stated, “He would always sit with me and guide me. I talk about him almost daily because he had such a significant influence on my life.”
With an unwavering commitment to helping others, Nestor has successfully navigated the challenges of the healthcare industry. When reflecting on obstacles, he noted, “Being a Latino company isn’t always easy, but I am very proud of being one. I say I haven’t had any challenges because whatever challenges I have, I don’t attribute them to being Latino; every entrepreneur faces challenges.” As a proud Cuban American, he added, “It’s an advantage to be a Latino, to be a Cuban immigrant, and to create jobs and pay taxes to contribute to this great country.”
Nevertheless, he candidly shared a few road bumps encountered as an entrepreneur. The first is the generation of capital. Nestor revealed, “Capital is a significant issue when you start, and it takes time to have the right capital and control your destiny and equity as an entrepreneur.” Through his strategic approach, he managed to generate substantial capital independently, avoiding the traditional route of relying solely on external investors. Another challenge he acknowledged is the reputation that Latinos have had for cutting corners and fraud. Addressing this issue, he stated, “My goal is to show the regulators and customers that we will be completely integral and honest with them. When we say we will deliver a product or service, we always over deliver. That is how we have been able to overcome those challenges.”
In facing these challenges, Nestor emphasized what sets ILS apart from other companies: “It is precisely that word: compassion. We care about the people we provide services to and those we provide services for.” Competing with Fortune 50 companies isn’t easy, but with his focus on partnering with the right providers and caring for their members, ILS has managed to distinguish itself. Their new mission statement now reads, “We are a compassionate team, committed to improving the quality of the lives of the most vulnerable population. Through our diverse partnerships, we ensure personcentered, comprehensive social care.” Most
importantly, he emphasized the company’s motto, “You matter, and we care.”
To ensure this compassionate approach, Nestor made a commitment to be a handson CEO. “It is extremely important for me to be involved in the business. I spend a lot of time in the office but also a significant amount of time traveling to understand the markets.” Explaining his dedication to understanding the market, he shared, “Healthcare is very much a local business. It isn’t delivered the same way in Los Angeles as in Miami or Brooklyn. The way that you deliver the care, the food, the contact, is completely different. We must
make it a point to understand the culture of our customers in order to provide the best service possible.”
In his final reflection, Nestor remarked, “If I would do it all over again, I would do it the same way. I would find the best possible people with a passion for caring for the most vulnerable and build it the exact same way again.” He shared his wisdom with young Latino entrepreneurs, saying, “Always do the right thing, work harder than anyone else, and return to your community. Help your community, give back to your community, and never forget where you came from.”
Nestor and Pharma team
1. What experiences in your personal upbringing influenced your entrepreneur spirit?
MdlT: My entrepreneurial spirit was deeply influenced by my upbringing as a first-generation American, born to Ecuadorian parents who immigrated in the 1950s with little to their names. Their bravery and resilience in moving to the U.S. without any familial support yet managing to build a community and improve their lives through education and hard work, instilled in me the value of seizing opportunities. My parents' emphasis on education, cultural diversity, and helping others shaped my worldview. They were mentors to newly arrived families, highlighting the importance of giving back to the community. Despite initially pursuing a traditional career path, graduating from Loyola Marymount with a business degree and becoming a CPA at Arthur Young (now Ernst & Young), the entrepreneurial call to aid immigrant Latino families led me to launch El Clasificado. This venture aimed to provide a crucial resource for finding jobs, homes, and opportunities in their native language. My parents, despite their initial reservations, supported this endeavor wholeheartedly, contributing significantly to its success. Their legacy of mentorship, community service, and perseverance is the cornerstone of my entrepreneurial journey.
2. What challenges have you faced being a Latino owned company?
MdlT: When asked about the challenges of being a Latina-owned company, I see them not as obstacles but as opportunities. Launching in 1988, we faced the immediate hurdle of an impending recession, a lack of support from the SBA for media companies without fixed assets, and my own inexperience in entrepreneurship—a field not widely taught in the 1970s. Our undercapitalization was a sig-
A WHOLEHEARTED ENDEAVOR LEADING TO SUCCESS
A CONVERSATION WITH MARTHA DE LA TORRE, CEO FOR EL CLASIFICADO
Courtesy of El Clasificado Carlos Cuevas
REMEMBER, SUCCESS IS NOT JUST ABOUT FINANCIAL GAIN BUT ALSO ABOUT MAKING A POSITIVE IMPACT AND FINDING PERSONAL FULFILLMENT IN YOUR ENDEAVORS.
nificant oversight, and our decision to minimize marketing expenditure prolonged our customer base development. However, our identity as a Latino-owned business proved to be an invaluable asset within Latino communities, where shop owners trusted that we understood their language and customers. This trust was crucial for building our network. Additionally, the Hispanic population boom in the 80s meant the general market was eager to engage with us, seeing our company as a bridge to tapping into this growing niche. Facing challenges is inherent in any business; the essence lies in how you address them. Whether it's confronting issues headon or strategically pivoting, maintaining focus on your goals is paramount.
3. What opportunities have allowed your company to grow exponentially?
MdlT: Our company's exponential growth can be attributed to several key factors: our passion for technology, our agility in embracing disruption, our keen insight into evolving marketing trends, and our dedication to innovation. Central to our success is our commitment to empowering small Latino businesses, enabling them to reach their desired customers effectively. We position ourselves as a trusted communication channel within vibrant Latino communities. While we are a media company capable of offering services in English to large corporations, our heart lies with the small Latino lifestyle entrepreneur—a segment often overlooked. Our focus on this niche has not only defined our mission but has also been a driving force behind our growth, allowing us to serve and uplift these businesses in meaningful ways.
4. What has been the key to your success? What have you done differently from other companies in the same industry?
MdlT: The cornerstone of our success has been our forward-thinking approach and adaptability, particularly in how we've embraced the digital revolution. Unlike many in our industry who viewed the rise of internet giants like Google and Facebook as threats, we saw them as opportunities to expand and enrich our services. Our transition from a solely print media entity to a multifaceted omnichannel media company has been pivotal. Today, we not only continue to publish the thriving El Clasificado magazine, with a weekly circulation of
over 200,000, but we've also expanded our digital footprint. We own online marketplaces, operate a digital marketing agency, MasClientes, serving over 1,000 clients, and host culturally significant events like Quinceanera.com expos, Empleoslatino. com job fairs, and Susociodenegocios. com networking events for small businesses. This diversification has allowed us to engage with millions of visitors and followers across platforms like ElClasificado. com, Pinterest, and Facebook, significantly broadening our reach and impact within the Latino community. Our willingness to innovate and adapt to the changing media landscape has not only ensured our survival but has also fueled our growth, enabling us to celebrate 35 years of service to the Latino community. Where others have struggled to evolve, our embrace of digital opportunities has set us apart, ensuring our continued relevance and success in a rapidly changing industry.
5. If you were to start over again, what would you do differently?
MdlT: Reflecting on the journey of El Clasificado, if I were to start over, I would opt for a humbler beginning by launching it from my garage. In the early days, we invested significantly in rent and furniture, under the impression that a professional-looking office was essential for success. This perspective, rooted more in ego than practicality, led to unnecessary expenditures. Looking back, especially considering the current trend of remote work, starting from a garage would not only have been acceptable but also a wise decision financially. This shift in mindset highlights the importance of focusing on the core business rather than appearances, a lesson that is even more relevant today than it was in 1988.
6. What advice would you give to the new generation of Latino entrepreneurs?
MdlT: To the new generation of Latino entrepreneurs, my advice is rooted in both experience and reflection:
• Find Your Niche: Identify a unique market or need that you can passionately serve. This specificity will guide your business's direction and growth.
• Know Your Audience: Understanding who your customers are, what they need, and
how they want to be communicated with is crucial. This knowledge allows you to tailor your products or services to meet their expectations effectively.
• Be Customer-Centric: Always prioritize your customers' needs and experiences. A satisfied customer not only returns but also becomes a vocal advocate for your business.
• Surround Yourself with Talent: Build a team of employees and consultants who share your passion and bring expertise that complements your own. Their knowledge and enthusiasm will be invaluable as your business grows.
• Listen: Be open to feedback from your customers, employees, and mentors. Listening can lead to improvements in your business that you might not have considered otherwise.
• Embrace Measured Risks: Innovation and growth often require stepping out of your comfort zone. Evaluate risks carefully, but don’t shy away from opportunities that could lead to significant rewards.
• Value Your People: Take care of your employees as they are the backbone of your business. A supportive and positive work environment leads to higher productivity and loyalty.
• Prioritize Health and Happiness: Ensure that you and your family maintain a healthy work-life balance. Entrepreneurship is demanding, and it's vital to remember that personal well-being is key to sustaining your ability to face challenges.
• Prepare for Challenges: Entrepreneurship is inherently filled with ups and downs. Embrace the journey, knowing that each challenge is an opportunity to learn and grow stronger.
• Find Fulfillment in Overcoming Obstacles: The path of entrepreneurship is never easy, but it is incredibly rewarding. Celebrate your victories, learn from your setbacks, and always keep moving forward.
Remember, success is not just about financial gain but also about making a positive impact and finding personal fulfillment in your endeavors.
COMMUNITY GROWTH AND DEVELOPMENT
JUAN GAYTAN JR., PRESIDENT AND CEO OF MONTERREY SECURITY, AND FORMER MEMBER OF THE CHICAGO POLICE DEPARTMENT
Latino Leaders Magazine Carlos Cuevas
JUAN GAYTAN JR. built his company, Monterrey Security under the concepts of protection and civil engagement. His journey began in the late 1980s when he joined the Chicago Police Department. Juan’s purpose for joining the PD was simple, to bridge the gap between the police and its’ Latino citizens.
He thought that if he became a police officer people would see cops in a different spotlight and be able to approach them without feeling scared.
“I think its difficult at times, the interaction with the police, it's not always positive. You don’t call the police to come over for your birthday party, you call them over because something is going on and when they arrive, they might have the right training, they might not have the right cultural sensitivity of what’s going on there.”
Juan hoped that people would see cops in the same skin color as themselves in hopes of building a connection and allow other cops to see positive interactions between him and the community. Knowing he could make a difference; he used his platform to advocate for public safety in the neighborhood. His mission: to create and provide something bigger and better for the society.
From there, Juan decided to invest and create Monterrey Security, named after his parent’s hometown. His purpose of the company was simple, “to provide security, safety, and services in areas I grew up feeling unwelcome.”
One way he did this was by providing opportunities for those less fortunate or under-valued. Juan targeted people in his community first, hoping that we would give them a new experience.
“If I can give them an opportunity to work in the security industry, where typically they were not given an opportunity, I think I can do something different, a little more unique,” Gaytan Jr. said.
Along with opportunities, Juan planned to provide society with something even better, reliable customer service. Through his philosophy, Monterrey Security has expanded to a variety of facilities including financial, healthcare, social services, sports, and education. It is through Juan’s success; the company has reached horizons he’d never imagined. This is something he has a ton of pride in. He explains that “over the past couple of years,” he wanted to “create a balance, helping civic organizations.”
Through his campaign, Monterrey Security has reached heights Juan never imagined. It is because of his hard work and dedication that the company has won various awards, including the Hispanic Business Magazine’s list of 100 fastest growing companies. Not to mention, the company has created powerful partnerships with major organizations such as the University of Notre Dame, the Bank of America Chicago Marathon, John G. Shedd Aquarium, and various other events at Soldier Field.
However, even through his opportunities and success, Juan believes none of this would be impossible without the lessons his father instilled in him. He confides that his parents are the one who set the foundation for him to live a modest lifestyle.
“My father was very big on education, there wasn’t google back then, so we had the encyclopedia of Britannica to look at what the statistics were for young Latino men who didn’t continue in higher education,”
He remembers his father telling him, “This is what you need to do mijo, or you are going to be headed down a bad path.”
It is through his father’s grace and wisdom that Juan is now one of the top Latino executives in the nation. He explains, “I feel like I’m just getting started.”
HOWEVER, EVEN THROUGH HIS OPPORTUNITIES AND SUCCESS, JUAN BELIEVES NONE OF THIS WOULD BE IMPOSSIBLE WITHOUT THE LESSONS HIS FATHER INSTILLED IN HIM. HE CONFIDES THAT HIS PARENTS ARE THE ONE WHO SET THE FOUNDATION FOR HIM TO LIVE A MODEST LIFESTYLE.
THE KEY TO SUCCESS LIES IN FLEXIBILITY
THE STORY OF
CAROL
(ESPINOSA) SOKOLENKO, PRINCIPAL OF FRE3DOM INTERIORS
What experiences in your personal upbringing influenced your entrepreneur spirit?
CS: My dad is a physician and owned his own clinic when I was growing up. I have fond memories of spending time at his clinic, using their computers (back in the days when access to the internet was limited) and experiencing him and his partners working together for the success of the business. When I immigrated to the US I had to learn how to be self-sufficient. I didn’t have any entrepreneurial aspirations though until a friend who’s an entrepreneur mentioned to me that I would be a great business owner. He became my very first business mentor as I learned the ropes and started Fre3dom Interiors.
What challenges have you faced being a Latino owned company?
CS: I was born and raised in Brazil and came to the United States when I was twenty years old. When I started the
business I didn’t really have professional connections or a professional network of support. Access to capital was also a huge issue, as Fre3dom started to grow and win projects but we didn’t have money to finance the projects. Finding a bank with an entrepreneurial spirit who would partner with us and help us grow took a very long time. I’m very grateful that we’ve had the right banking partner in that regard for many years now.
What opportunities have allowed your company to grow exponentially?
CS: Leveraging local and national resources and networks for small businesses, as well as minority-owned and woman-owned businesses has been instrumental in the growth of the company. I have gone through the Kauffman Foundation’s FastTrac New Venture class (now called Elevation Lab) when Fre3dom Interiors was in its infancy, as well as through Elevation Lab Tech Venture for a tech-related expansion for Fre3dom. I also participated in Turner Construction and JE Dunn’s Minority Business Development Programs and I’m a graduate of the Stanford Latino Entrepreneurship Initiative Education Scaling Program, a collaboration between Stanford Graduate School of Business Executive Education and Latino Business Action Network. I also made sure that Fre3dom received local, state and federal certifications as a Woman-Owned and Minority-Owned business, including participating in the Small Business Administration’s 8(a) Business Development Program, which was a great platform to help grow Fre3dom to a level-playing field with our competitors.
What has been the key to your success? What have you done differently from other companies in the same industry?
CS:The key to our success I believe lies in our resilience and ability to be flexible.
Throughout the years, especially being a relatively young company with competitors with established relationships for many decades, we had to constantly recognize failure and keep pivoting and adjusting to find success in the marketplace. In addition, our team is amazing and takes personal responsibility for our projects. We live and die by our core values: no a**holes, no freeloaders, no drama, no dummies, no excuses. Our success comes from having team members who naturally share these values, as well as working with partners and clients whose values align with ours.
If you were to start over again, what would you do differently?
CS: I would put more emphasis early on on team development and focus on making sure that everyone knows what success looks like for their individual role, their team, projects and clients. I’ve learned that the organization is only as good as each individual team member, so aligning their individual goals to company goals is the most beneficial way to assure success on every level.
What advice would you give to the new generation of Latino entrepreneurs?
CS: To find and leverage resources available to minority-owned companies, as well as tap into a network of similar-minded people that are further ahead in their entrepreneurial journey. Don’t be afraid to ask questions, then listen actively for nuggets of knowledge from their experience.
INFO
• At Fre3dom Interiors, the mission is to bring your vision to reality through learning and work space design, architectural products and education and office furniture.
THE
CHANGING THE NARRATIVE IN THE CONSTRUCTION INDUSTRY
STORY OF DORENE DOMINGUEZ, VANIR
What was the biggest challenge you faced when you took over the responsibility of the company?
DD: I was mourning the loss of my father. He passed away unexpectedly. He was not only the CEO of Vanir, but he was also my best friend, my mentor and confidant. During my first year as Chairwoman and CEO, I made the decision not to make any sudden company changes and maintain stability. I also surrounded myself with a team of talented leaders and joined organizations that would support my growth as a CEO.
What stereotypes have you proved wrong during your professional journey?
DD: The construction industry is traditionally dominated by men. According to the U.S. Bureau of Labor, women currently make up only about 11% of the employed construction workforce. There are only a handful of women like me that are in the C-Suite in construction. The women that I have had the pleasure of working with at Vanir and at other women owned firms are excellent leaders. I have experienced them to be more empathetic, better listeners and they tend to lead with a servant heart. In fact, a recent study by McKinsey showed that companies with more gender diversity are 25% more likely to have higher than average profits. At Vanir I am very proud of the fact that almost 60% of employees are women and minorities.
How would you describe the feeling of success?
DD: Success is relative. Once you achieve it, there is always more to be done. I believe true entrepreneurs are never satisfied. We always strive to be better. For me this is true in business and in my philanthropic
endeavors. – so much more that needs to be accomplished.
Leading to the 60th anniversary of Vanir, how has the vision of the company evolved?
DD: We are much more conscious of diversity since our founding. Whether it’s our hiring practices or when we are teaming with other companies. We take great pride in ensuring that our clients are going to have a culturally diverse team that also is strong in diversity of thought to ensure the best project outcomes. I strongly believe that Vanir leads in this area. At Vanir we also are very conscious of the types of projects we take on. It’s imperative that it must have a benefit to the community. Triple bottom line.
What plans do you have for the future?
DD: We have 22 offices across the US. I want to continue to do great work and be known for excellence across our national footprint. We also want to double down on our successes. For our Real Estate company, we share the same mantra which is that our project work must enhance and serve communities. One of our core values at Vanir revolves around our philanthropic pillars– which is to give back through education. My father used to say, “The only way you are going to make this world better is to give back.” Our focus at Vanir is giving back through education. As a tribute to my father and his legacy I founded The Dominguez Dream, an organization committed to empowering children in underserved communities to achieve their full potential through Literacy and STEAM. I want to grow our programming and continue providing elementary schools with programs designed to work together that meet students’ basic needs as well as
Courtesy of Vanir F. Izquierdo
their social and emotional needs in order to truly transform the way they learn. I am also committed to providing internships to young, underserved minorities. Oftentimes we hear that there are no qualified candidates. That is simply not true. However, it is the responsibility of those in leadership positions to open doors, provide opportunities and invest in the development of their career path and growth.
How has the environment for Latino entrepreneurs changed back from when you started to now?
DD: Latinos have a remarkable entrepreneurial spirit. They are the economic engine for the US. In fact, we are the fastest growing minority and have the highest rate of entrepreneurship of any race. Latino businesses have grown at a rate of 12.5% over the past five years surpassing white-owned businesses which grew at 5.3% during the same period. From my own experience and those of other legacy businesses, I believe that the drive to create a better life often leads us to establish our own businesses. Not only are our businesses thriving, but according to the Latino Donor Collective 2023 GDP report, Latino income in the US amounted to $2.5 trillion while the Latino Purchasing Power was measured at $3.4 trillion.
In your opinion, what is the biggest gap that still needs to be addressed?
DD: Access to capital is the biggest gap that must be addressed. In order to close that gap, we must focus on different areas. Access to a good education is critical. We must ensure we are providing opportunities in STEAM and other key areas of growth for our students. Policies and legislation that
OUR FOCUS AT VANIR IS GIVING BACK THROUGH EDUCATION. AS A TRIBUTE TO MY FATHER AND HIS LEGACY I FOUNDED THE DOMINGUEZ DREAM, AN ORGANIZATION COMMITTED TO EMPOWERING CHILDREN IN UNDERSERVED COMMUNITIES TO ACHIEVE THEIR FULL POTENTIAL THROUGH LITERACY AND STEAM.
ensure equity and opportunities for Latinos in decision making positions in the C-suite and corporate boards to ensure access and equity.
What values from your personal upbringing do you replicate in your professional life?
DD: Treat everyone with respect and kindness regardless of their profession from the housekeeper to those in the C-suite.
Support is crucial for Latinos; how are you working to support the new generations and empower the Latino community?
DD: Growing our own, identifying talent and providing learning opportunities such as internships. One program that is near and dear to me is the Notre Dame Experience that I founded over 10 years ago. The idea to create the Notre Dame Experience was inspired by my own experience at Notre Dame. I was one of the first Latinas to attend this private university and I know firsthand the challenges. Each year I host a group of over 200 first-generation and Pell grant students for dinner and
an opportunity to learn more about Notre Dame and higher education. This experience is beneficial for both the students and the university.
What advice do you have for the new generation of Latino business owners?
DD: Love what you do and be passionate about your work. Like the saying goes, “If you love what you do, you will never work a day in your life.” Also, be an expert at your craft. Always strive to be the best in your industry.
The construction industry is not typically an area where you see women CEOs. How are you reshaping the narrative and making sure that more women are involved as owners, engineers, project managers?
DD: I am a strong believer that diversity is key to the growth of a company and their bottom line. At Vanir we provide opportunities for women to take roles in the field and the corporate offices. There is room for all to learn and grow together. As I mentioned earlier, almost 60% of employees are women and minorities.
Outside of work, you are an avid sports fan and only one of two women to be an owner of an NBA team. Tell us how you see the future of women and sports?
DD: I am excited that both the NFL and NBA have expressed their commitment to diversity. During the recent Super Bowl history was made by having the first female officiate a super bowl game and two women coaches on the field! You might have also noticed the Dove campaign that spoke to the issue of 45% of girls quitting sports because of low body confidence. We need to change this narrative.
In addition to being involved with sports, what are some of your other passions outside of your industry?
DD: I grew up surrounded by family so for me family is at the center of all that I do. My niece just had a baby on Valentine’s Day so spending time with her is important. My Faith is also important. One of my favorite family traditions is attending Mass on Sundays followed by enjoying menudo at one of our favorite local restaurants.
THE INDEX500 AT A GLANCE
LATINO TALENT DRIVING PROSPERITY FOR LATINOS
We have put together a panel with Latinos driving change in different areas of BMO. They represent the driving force behind
a bank that has Latinos as a key group of interest, aligning all parts with their strategy to enable their client’s financial wellbeing.
VICKY ARROYO DIRECTOR OF ECONOMIC EQUITY ADVISORY GROUP
What are the biggest challenges Latinos face when seeking banking services?
VA: Whether they are immigrants, first-generation, or second, the foremost barrier is a need for more education and a clear understanding of the benefits that banking products bring in terms of building wealth and financial stability. Establishing TRUST in a financial institution and knowing that it prioritizes one’s best financial interest are crucial factors in seeking and trusting banking services. Studies have shown that if the banking process seems cumbersome, language barriers exist, or there are past negative experiences with financial institutions, Latinos may opt for more expensive ways of managing their finances. Unfortunately, this choice does not always result in cost savings or the best return on their investment. Since banking might have been the least obvious choice historically, generations face challenges when starting businesses or establishing credits since they lack a solid foundation.
How is BMO encouraging the growth of minority-owned businesses?
VA: We provide industry expertise, financial advice, and resources to empower businesses to thrive. Our focus on long-term success involves understanding each business's goals and challenges, leading to customized solutions through our advisory One Client approach. Furthermore, we tap into our extensive network of business and community leaders to offer additional insights and facilitate meaningful connections, ultimately promoting the growth of these businesses. At BMO, our bankers present proactive and actionable ideas and deliver holistic solutions
that contribute to the success of minority-owned businesses. I take immense pride in BMO’s enduring commitment to supporting minority-owned businesses, a tradition upheld for over 200 years.
What is your best advice for the new generation of Latino Businesses in the United States?
VA: I am excited about the growth potential in the Latino sector for both new and existing businesses. Over the last decade and a half, Latinos have created companies faster than all other demographic groups in the US, contributing to accelerated revenue growth and job creation for all Americans. While recognizing the rise of the Latino community as an economic force, it is crucial to acknowledge that despite their rapid expansion across the country, Latinos still need to overcome barriers to wealth-building and opportunities that other groups may not encounter. Therefore, I advise businesses to build strong relationships, embrace cultural identity, leverage technology for growth, and stay informed about market trends to adapt and thrive in a dynamic business landscape.
How does growth within a firm like BMO shape how you approach communications, especially as you expand to new markets?
JC: We recognize the importance of earning and maintaining the trust of our stakeholders as we expand our footprint. This requires a strategic and thoughtful approach. Communication is a vital tool when building trust during times of growth, which coincides with change. Our communication strategy is curated to introduce our brand and people authentically, emphasizing our commitment to understanding the needs of our customers, colleagues, and the communities we serve.
Given your new footprint, how does BMO differentiate itself when working with underrepresented communities and customers, specifically Latinos?
JC: BMO recognizes the importance of understanding and meeting the unique needs of diverse communities, including Latinos. We acknowledge that tailored approaches may
JORGE CABRERA
HEAD OF US CORPORATE COMMUNICATIONS
be necessary to address specific needs within different demographics. This, after all, is an integral component of our purpose: to Boldly Grow the Good in business and life. Our commitment is to drive progress for a thriving economy and inclusive society, ensuring that our services are accessible, relevant, and responsive to the diverse needs of all our customers, including our valued Latino community.
What are the biggest opportunities for younger Latinos when considering a career in communications? Why does the world need Latinos in communications, specifically the financial services sector?
JC: A communications career provides you access. We always work across departments. The access I am afforded to leaders across our business is unparalleled to other careers. Over time, this access has given me incredible insight and real skill sets to lead a team. I think part of my ability to work across many departments and stakeholders comes from my history of growing up bilingual, first gen, son of an immigrant, etc., and many Latinos have this same experience or something very similar that needs to be seen by themselves and others as their superpower and not their shortcoming.
OSCAR NAVARRO
HEAD DIGITAL DEVELOPMENT
PRODUCT TREASURY AND PAYMENT SOLUTIONS
What are the latest trends in digital commercial banking? How is BMO reacting to them?
ON: Customers expect their online banking experience to be on par with the apps and devices they use every day. We are not just competing with other banks to do this but with FinTechs and other smaller, fast-moving financial solution providers. Our One Client approach puts customer needs at the center of everything we do. Open banking options, APIs, self-serve features, third-party integrations, and more mean we can give our customers the more straightforward, personalized banking experience they are asking for.
How is AI influencing banking operations in Treasury Management?
ON: We operate with a digital-first model, using speed and scale to help drive real progress for our business customers. We want to be their growth partner, and AI is one of the tools we use. For instance, our customers can use cash flow forecasting to set annual goals and predict trends. If they
have questions, our chatbot gives them quick answers now, so, so they do not have to spend time searching or waiting for support and can get back to running their business.
As a Latino, what has your experience been throughout your professional journey?
ON: Being a first-generation Latino has greatly influenced who I am today. My parents instilled values that served as the foundation for my future and coupled with the winning culture at BMO, allowed me to thrive. I started in check processing 24 years ago, and with the help of leadership, internal training programs, and many great mentors, I worked my way up to Head of Digital Product Development. BMO invested in my career – and now I'm lucky enough to reciprocate and serve as a mentor to help others grow, too.
GUADALUPE MARQUEZ
BMO HEAD OF SPECIALTY FINANCE
How has your Latin heritage shaped your professional development?
GM: My Latin heritage has instilled in me a profound sense of grit and integrity, drawing from the resilience and determination embedded in our culture. Family values serve as my compass, pushing me forward with a desire to achieve beyond what my parents could, driven by deep gratitude and responsibility. The unwavering commitment to doing the right thing, even when challenging, guides my professional development and approach to advising and serving our clients.
What is your biggest asset as head of specialty finance?
GM: My greatest asset as Head of Specialty Finance is my ability to combine deep industry knowledge with a strong understanding of BMO's risk appetite in the space, which allows me to advise our clients and my team quickly.
How do you think Latino clients' needs will change in the future?
GM: Given the diversity within the Latino community, it is difficult for me to identify how their overall needs will change in the future as it will vary by group. First- and second-generation Latinos will seek out companies they can trust. They will aim to learn more and surpass the dreams of their parents. As one of the fastest growing contributors to the US economy, it will be imperative for businesses to understand and find out what the needs of the Latino community are to maintain or increase market share.
MELISSA GARCIA
MANAGING DIRECTOR, NATIONAL SALES MANAGER, U.S PERSONAL AND BUSINESS BANKING
What shift in trends have you noticed in the retail market lately? What position do Latinos have in that market?
MG: Clients are moving basic transactions to digital and online platforms; however, the importance of a human touch cannot be underestimated, especially for Latinos, who are far more hesitant to entrust their money to financial institutions. Clients continue to seek branches for financial advice and guidance- they want a trusted advisor regarding their financial well-being. Knowing this and how Latinos are the fast-growing contributors to the United States economy, will be important for institutions to focus intentionally. The new generations are more educated and are building more wealth, powering the fastest-growing Latino GDP. Latinos are the lifeblood of the economy. They are the socio-economic force of vitality, and their economic influence continues to expand rapidly across all industries. When we help them advance- the impact is felt for generations.
What words would you use to describe your professional journey? Why?
MG: Dedication and determination- as a young girl, my mom instilled in me the importance of dedication and hard work and, most importantly, dreaming big and never giving up. To this day, her advice continues to carry through with me throughout my professional career. Being dedicated and determined to my work, community, career goals, and, more importantly, my purpose in life to want to make a difference and help others has given me the courage and confidence to step outside of my comfort zone and take risks throughout my journey. The journey has been fulfilling because of my diverse roles, allowing me to continue to learn and grow professionally and personally and proving my resilience throughout any challenges and setbacks I experience.
If you were to predict what your main client would look like in 10 years, what would it look like?
MG: The main client's desires will include high levels of personalization and frictionless transactions- ie. I see where plastic card usage will continue to plunge as mobile wallets and payment apps gain favor. In an increasingly untrusted world, security in protecting their money, identity, and data from a client will become even more critical. Even though AI will power mass personalization, human con-
nection will remain essential to our clients. Our clients will want you to know them and the data you have about them to help them achieve their goals and master their financial plans. Lastly, we can all expect our clients to desire an institution that models and is committed to having a social and environmental impact.
JANIE CERVERA
HEAD OF WEALTH CLIENT FIELD SERVICES
What led you to a banking career?
JC: My career in banking was kind of an accident. I went to college (DePaul University) to study Accounting and Finance. I am the first person in my family's history since my grandparents migrated from Mexico to attend college and eventually graduate. My goals were to work at one of the big accounting firms and become a partner. However, I began working full-time at Harris Bank (now BMO) during my second year of college. I enjoyed my work in the ERISA space, working with Defined Benefit and Defined Contribution Plans. I also really enjoyed the culture of the organization. It opened my eyes to know that a job at a bank was more than a teller/banker. This was my first exposure to Corporate America. When I finished college, I decided I wanted to stay in the banking industry and haven't looked back. Working in the banking industry has allowed me to work within various groups, including Operations, Relationship Management, Client servicing, Finance, Banking, Accounting, Project management, and Investments.
As a Latina in finance, what would your advice be to other younger Latinas as they begin their careers in financial services?
JC: Knowing what I know now, I encourage Latinos/as in the workplace to strive for continual learning and building your brand. Push past the cultural shyness and raise your hand for some uncomfortable assignments or opportunities to gain additional experience and exposure. Use your voice to ensure you actively contribute to your team by raising suggestions, providing feedback, and asking for feedback. Getting out of your comfort zone will stretch your skills and develop your confidence when facing new challenges. Be sure to proactively network with colleagues and leaders at the organization to expand your knowledge of the business and industry. Take advantage of internal resources at your organization, such as mentorship programs, additional training opportunities, certification offerings, community volunteering involvement, and joining a Business Resource Group. Also, consider joining external professional organizations to increase your network further.
MICHAEL MIRANDA HEAD OF INVESTMENTS, US WEALTH MANAGEMENT
How has the client profile changed throughout your career? And how are you helping ensure BMO is positioned well to align with said changes?
JC: As the growth of Latinos in this country has continued to increase and dominate, I have seen more and more emphasis on diverse clientele, especially with Latino-owned businesses and business owners. That said, companies that serve diverse clients need diverse leaders within the organization. Latino clients want to see people who look like them, not only at the support and junior levels but also in Senior Leadership and decision-making roles. Part of my role as a Senior Leader at BMO is to ensure I am sourcing and developing talent. As one of the very few Executive Latinas in the organization, I mentor many Latinos. I am also the Global Chair of our Latino Employee Resource Group (ERG). I use my voice at the table to help advocate and raise awareness of the issues and opportunities for Latinos in the organization.
In what ways have Latinos influenced changes in BMO’s corporate strategy?
MM: Latinos and Latino-owned businesses have played, and will continue to play, an even more significant role in the growth of our economy! How do we build a BMO business that reflects this growth? At BMO, I am proud of our approach to surrounding our Latino client base with the entire breadth of our partnership- from Personal and Commercial Banking, Capital Market strategies, and Wealth Management solutions. We have intentionally recognized and celebrated the success of Latino growth in our economy. Just look at the BMO 500 index, an industry-leading database of the largest Latino-owned businesses in America. Our goal is to be the bank of choice for this thriving and growing segment, and being intentional in providing solutions geared to our Latino client base is core to our corporate strategy.
What is the biggest challenge Latino-owned businesses face when establishing their family office?
MM: There's a commonly and probably widely overused phrase, "If you've seen one family office, you've seen one family office," highlighting the uniqueness of every family office's structure and the issues facing them. So, I won't overgeneralize too much on the problems facing all Latino family offices.
That said, I have observed a few common themes. The Latino culture is one deeply rooted in family connectivity and closeness. This strength of familial bonds can create issues when thinking through how to create a formal structure for managing a family's legacy and wealth. Setting up an appropriate family governance structure is a typical family office challenge, even more so for a Latino-owned business. Additionally, given the aforementioned family dynamics, succession planning for the company and its impact on wealth transfer and the family office is another common theme for a Latino-owned business.
What key traits do you think have allowed your exponential success in banking?
MM: Investments and banking broadly are all about delivering for our clients! I have always kept that as a primary goal. Are we providing solutions and services that resonate with our clients? Are we exceeding their expectations and upholding our promise to provide best-in-class financial services? I have made sure our teams are aligned around this client-centric model. This has served me well in my career, but even more importantly, it has served our clients well along their journey.
CATHERINE BLAESING
GROUP HEAD NORTH AMERICAN DIVERSIFIED INDUSTRIES
How do you think that Latino businesses are shaping the market?
CB: Latinos continue to influence the future of our economy, and Latino businesses help bring diverse perspectives to the market. The prevalence of Latino leaders is critical to ensure that different perspectives are considered and that their successes are highlighted to foster the narrative that success is attainable for everyone, regardless of background.
As a female building a career in banking, what has been the biggest challenge you’ve faced?
CB: I have been so fortunate to have had many different opportunities at BMO [or the bank]. The biggest challenge in my mind has been balancing the job's demands with having a family. People talk about "work-life balance," but I don't believe there is ever a perfect day of balance. You must be deliberate when choosing when your family needs to come before work. On the flip side, there are days when the job needs to come first, and you must not feel the guilt.
BEST COMPANIES FOR LATINOS TO WORK 2024
The quick advancement of Latino talent keeps companies at their toes for new strategies to increase diverse workforce in their organizations. As every year, Latino Leaders Magazine presents the companies who have the deepest commitment for Latino talent to thrive. They have demonstrated substantial efforts to open their corporate culture to everyone, making sure their employees feel proud of belonging.
Congratulations to all!
LATINO TALENT MANAGEMENT INNOVATION
BY ROBERT RODRIGUEZ, PHD
Everyone is aware of the economic impact of the U.S. Latino community. It is easy to find articles about the growing size of the Latino GNP, how Hispanics are the fastest-growing group of entrepreneurs, or how Hispanics drive growth in the housing market. Everyone seems to understand that Hispanics are a catalyst for economic growth.
WHAT IS NOT often discussed is that Latinos are also America’s next great source of intellectual capital. Approximately 20% of the U.S. population is already Hispanic, and that percentage is expected to grow as our population size increases. Plus, Latinos are much younger on average than the rest of the population. This means the workforce of the future will have an increasingly Latino identity. These talent and economic indicators increase companies' efforts to connect with Latino professionals. However, their approaches have changed in the past decade. In 2008, I wrote, “Latino Talent: Effective Strategies to Recruit, Retain & Develop Hispanic Professionals” (Wiley, 2008). Many companies adopted my recommendations, including having a Latino recruiting strategy, investing in Latino employee resource groups (ERGs), and providing additional professional development to Hispanics.
But today, the companies winning the war for Latino talent have developed new, more sophisticated approaches to recruiting, retaining, and developing top Hispanic talent. Their techniques are refined and innovative, giving them a distinct advantage. For example, JPMorgan Chase has a department dedicated to “Advancing Hispanics & Latinos at JPMorgan Chase.” Chase's allocation of budget resources and talented individuals has allowed this department to develop unique Latino talent management approaches. Plus, it conveys Chase's deep commitment to advancing Latinos, a commitment not formally matched by most other corporations.
Another unique approach is the establishment of internal company Latino talent caucuses. Such groups consist of senior His-
panic executives whose goal is to help advance the internal Latino talent agenda within the company. Such caucuses exist at Intel, Altria, and a few others. In 2022, I assisted in establishing such a group at Comcast. I had recently met several of the highest-ranking Latinos at Comcast and shared with them that such groups existed at a few other organizations. They loved the idea and immediately began setting up a caucus with Hispanic vice presidents at Comcast. This group is actively helping Comcast identify and develop top Latino talent within the company.
My friend, Angel Gomez, and I established the 2-day Latino Leadership Intensive (LLI) program in 2017. Today, the LLI program is hosted yearly at the Harvard Faculty Club in Cambridge every June and at the Stanford Faculty Club in Palo Alto every November. Since 2017, hundreds of Latino professionals have completed the program from over 60 corporations. While the LLI program is innovative enough, some companies bring the LLI program in-house to have it offered just for their Latino professionals. Facebook and Comcast have had multiple internal LLI sessions. In November 2023, Liberty Mutual invested to bring the LLI program in-house. Liberty selected twenty upwardly mobile, high-performing, high-potential Latinos and Latinas who completed the LLI program. However, by bringing the program in-house, the cohort addressed specific Liberty Mutual Latino talent management topics.
Every company needs top Hispanic talent to meet their future business goals. Companies utilize various approaches to recruit, retain, and develop Hispanic talent. However, companies like JPMorgan Chase, Comcast, and Liberty Mutual are taking unique approaches to Latino talent management. These approaches set them apart from their competitors for top Latino talent, giving them a competitive advantage.
Business leaders must constantly look for new ways to innovate because you can’t solve today’s talent problems with old solutions. Talent management innovation is critical across all industries. More and more companies need to innovate, and it’s important to avoid using it as a buzzword and instead take the time to invest in and implement unique Latino talent programs.
Dr. Rodriguez is the president of diversity consulting DRR Advisors LLC. Many consider him the nation’s leading expert in Latino talent management and ERG initiatives. He is the author of three books and holds a PhD in Organization Development. www.drradvisors.com.
DRR Advisors Carlos Cuevas
BEST COMPANIES TO WORK FOR LATINOS
ABM
Industries Inc.
Facility Management
Employees: 127,000
Diversity: 81.00 %
Latinx in Csuite Or Board:
Latino Talent Acquisition: ERG in place:
Chipotle
Restaurants/Hospitality
Employees: 110,000
Diversity: 67.00 %
Latinx in Csuite Or Board:
Latino Talent Acquisition: ERG in place:
Kemper Corporation
Insurance
Employees: 8,400
Diversity: 59.00 %
Latinx in Csuite Or Board:
Latino Talent Acquisition: ERG in place:
Navy Federal Credit Union
Banking
Employees: 24,330
Diversity: 44.00 %
Latinx in Csuite Or Board: Latino Talent Acquisition: ERG in place:
NuStar Energy L.P.
Energy
Employees: 1,177
Diversity: 35.00 %
Latinx in Csuite Or Board:
Latino Talent Acquisition: ERG in place:
BOK Financial
Finance and Insurance
Employees: 4,825
Diversity: 32.00 %
Latinx in Csuite Or Board:
Latino Talent Acquisition: ERG in place:
Granite Construction
Construction
Employees: 7,000
Diversity: 45.70 %
Latinx in Csuite Or Board: Latino Talent Acquisition: ERG in place:
L.B. Hall Fireproofing
Construction
Employees: 30
Diversity: 99.00 %
Latinx in Csuite Or Board:
Latino Talent Acquisition: ERG in place:
New York Life
Financial Services
Employees: 11,227
Diversity: 75.00 %
Latinx in Csuite Or Board:
Latino Talent Acquisition: ERG in place:
NVIDIA Technology
Employees: 14,256
Diversity: N/A
Latinx in Csuite Or Board:
Carnival Cruise Line
Travel & Cruise Industry
Employees: 30,000
Diversity: 40.00 %
Latinx in Csuite Or Board:
Latino Talent Acquisition: ERG in place:
IBM
Information Technology
Employees: 270,000
Diversity: 21.30 %
Latinx in Csuite Or Board: Latino Talent Acquisition: ERG in place:
Merck
Biopharmaceutical
Employees: 70,000
Diversity: N/A
Latinx in Csuite Or Board:
Latino Talent Acquisition: ERG in place:
Nicklaus Children's Hospital
Healthcare
Employees: 4,600+
Diversity: 68.00%
Latinx in Csuite Or Board:
Latino Talent Acquisition: ERG in place:
Employees: 627
Diversity: 47.00 %
Latino Talent Acquisition: ERG in place:
Latinx in Csuite Or Board:
Latino Talent Acquisition: ERG in place:
Progressive Insurance Insurance
Employees: 61,432
Diversity: 40.50 %
Latinx in Csuite Or Board:
Latino Talent Acquisition: ERG in place:
Southwest Airlines
Transportation/Airline
Employees: 55,000
Diversity: 40.00 %
Latinx in Csuite Or Board: Latino Talent Acquisition: ERG in place:
The Hershey Company
Manufacturing
Employees: 16,500
Diversity: N/A
Latinx in Csuite Or Board: Latino Talent Acquisition: ERG in place:
RockOrange, LLC
PR, Communications & Digital Marketing
Employees: 25
Diversity: 100.00 %
Latinx in Csuite Or Board: Latino Talent Acquisition: ERG in place:
Sprouts Farmers Market Retail
Employees: 31,000
Diversity: 50.00 %
Latinx in Csuite Or Board: Latino Talent Acquisition: ERG in place:
Verisk Analytics Technology
Employees: 7,576
Diversity: 31.00 %
Latinx in Csuite Or Board: Latino Talent Acquisition: ERG in place:
EnLink Midstream Energy
Employees: 1,000
Diversity: 21.00 %
Latinx in Csuite Or Board: Latino Talent Acquisition: ERG in place:
Sempra Energy
Employees: 20,000
Diversity: 59.00 %
Latinx in Csuite Or Board: Latino Talent Acquisition: ERG in place:
The GEO Group, Inc.
Government Contractor
Employees: 13,887
Diversity: 94%
Latinx in Csuite Or Board: Latino Talent Acquisition: ERG in place:
Wesco International
Electrical Distribution
Employees: 20,000
Diversity: 52.00 %
Latinx in Csuite Or Board: Latino Talent Acquisition: ERG in place:
IN HIS ROLE as Executive Vice President –Operations and Technology at Pan-American Life Insurance Group (PALIG), Frank Recio leverages technology and innovation to drive more intelligent, efficient and effective corporate and business operations. Mr. Recio, who holds a Bachelor of Business Administration from the University of Miami and a Masters of Business Administration from the Fuqua School of Business at Duke University, leads the continued advancement of PALIG’s digitalization, including policyholder services and processes. He is also responsible for overseeing the Group’s international business operating model, which includes business information systems, health care delivery, project management, individual and group health operations as well as individual life operations in 22 countries.
A talented leader in the ever-evolving landscape of technology, Mr. Recio exemplifies the pivotal role diverse leaders play in both meeting today’s demands and shaping the industry’s future. Diversifying the tech workforce leads to more innovative and effective outcomes, and in this case, a tech ecosystem that is better equipped to address the needs of PALIG’s millions of customers in the Americas.
AN INFLUENTIAL LATINO LEADER IN TECH
PAN-AMERICAN LIFE INSURANCE GROUP’S FRANK RECIO
FRANK RECIO
EXECUTIVE VICE PRESIDENT - OPERATIONS AND TECHNOLOGY AT PALIG
Technology continues to spur the evolution of how we work, live and learn — not to mention, it is a critical driver of the global economy.
What part of your Hispanic upbringing inspired who you are today?
Born to Cuban parents and raised in Miami, Florida, I really value having been submerged in this great culture. While growing up, speaking Spanish at home was mandatory — a strength for which I will forever be grateful to my parents. Being bilingual is a superpower that has catapulted connections with hundreds of colleagues, employees, friends and family throughout the world. These days, language and technology are the cornerstones of human connection; it is through these that we communicate. All of this — the community and connectedness, as well as the tech that makes it possible — has molded the person I am now.
Who inspires you the most?
My dad, who shared my same name and passed away four years ago, will always be one of my greatest mentors and inspirations. Despite facing challenges as a Cuban immigrant, he earned an engineering degree and went on to run the Latin American consulting practice for Oracle. I was always impressed by how he mentored young people, mostly Latinos. In fact, after he passed away, I fielded so many calls from professionals he touched early in their careers. It was incredible to hear about his impact and legacy.
I also admire our company’s Chairman of the Board and CEO José S. Suquet. In addition to sharing a Cuban background, José and I uphold and value the same guiding princi-
ples. Among them are integrity, the power of collaboration, and cultivating an environment that rewards hard work and dedication. As a company, we have leveraged innovation and digitalization to collaborate and connect more easily than ever throughout the Americas.
What are you most proud of as a Leader at PALIG?
I always tell new employees at PALIG: “You’re going to love working here and you’re never going to want to work anywhere else”. I’m proud to be a part of an organization where Latinos have played an integral role since its founding 113 years ago. Pan-American Life was created to meet the insurance needs of individuals and businesses in Latin America. That vision and motivation is fundamental to the fabric of our workplace, our culture and strategy and the policyholders we serve.
What is your advice for young Latino students who may/may not be considering a career in STEM?
A STEM education cultivates critical thinking, logical reasoning, and methodical problem-solving skills. I always encourage getting a STEM degree or exploring other opportunities that similarly train the mind to focus on logical thought processes.
Lastly, I would be remiss if I didn’t encourage other professionals in the field to become mentors for young people of diverse backgrounds. It is one small way we can make a big difference.
LATINO GROWTH ENABLED THROUGH GRANITE
Hispanics have become the fastest-growing population in the workforce. The U.S. Department of Labor reported that Hispanic workers grew from 10.7 million individuals in 1990 to 29 million in 2020. They project that by 2030, that number will be 35.9 million.
Hispanics have become the fastest-growing population in the workforce. The U.S. Department of Labor reported that Hispanic workers grew from 10.7 million individuals in 1990 to 29 million in 2020. They project that by 2030, that number will be 35.9 million.
According to the Dallas Morning News, in 2023, Hispanics accounted for 40 percent of Texas's labor force. The news outlet also reported that the state has one of the top Latino economies in the U.S., as they account for
5.9 million Latino workers. When breaking down the numbers even further, Hispanics in Texas accounted for 61 percent of the construction labor force.
One person who has played a significant role in developing Latinos in the workforce and is doing it in the construction business is Granite's Chief Diversity Officer and Vice President of People & Culture, Jorge Quezada. The Latino businessman plays a significant role in helping develop and incorporate Latinos at Granite, a diversified construction and material company that aids in transportation, water infrastructure, and mineral exploration.
JORGE QUEZADA
CHIEF DIVERSITY OFFICER AND VICE PRESIDENT OF PEOPLE & CULTURE
"Latinos make up 30% of our workforce here at Granite if we were to look at ethnicity, and if you take a look at people of color in general, 75% of our population is Latino," Quezada said.
Quezada believes that appealing to Latinos is a significant way to grow a successful Diversity and Inclusion program. One way he appeals to his employees is through communication. The CDO of Granite believes that messages can only be heard and understood at their total capacity when everyone is on board. For him, the language barrier should never concern the employees.
"Imagine you're bilingual, but your first dominant language is Spanish; we (Granite) have to make sure we communicate in the dominant language for a couple of reasons," Quezada said. "I mentioned to you that we have a core value of safety, so can you imagine having a conversation about safety and you're talking in English, but the person's dominant language is Spanish, and they may not capture some of the nuances of the English language, so from a safety perspective we have to make sure the entire population is safe, so that's why we make sure we translate all aspects of the communication can be understood. ."
Other strategies the company uses include comprehension and understanding. In simple terms, Granite must have the proper environment to meet the needs of its employees. The company does this by joining organizations like The Society of Hispanic Professional Engineers (SHPE).
The SHPE partnership helps set the groundwork for the company to recruit and attract more Latino workers. However, none of the strategies would be possible if Quezada and the Granite team never sat and pondered, "Are we meeting the needs of the Latino community?"
The population numbers tell the company to pay attention, so they have to
Lorenzo Almanza Courtesy Luis E. González
negate any bias in the system to ensure Latinos have access to training, future development, and aspirations.
Recruitment, though, is just the beginning of the company's strategy. Once employees are hired to work for Granite, they are given various opportunities to grow within multiple roles. Focused development is a trend that has become popular with the company. The VP of People & Culture explains that the staff on site are "starting to grow into leadership roles." Granite's perseverance in awareness, understanding, and actions allows employees to grow and develop from within.
Quezada is seeing employees create a longterm future within the company. He details that Granite has seen "employees celebrate 35 years, 40 years."
The legacy Quezada is building at Granite is why employees can grow inside the company. Through the company's diversity program, his groundwork allows "people to be valued, respected, and supported at Granite and within the construction industry.
AI is beginning to play a big part in the evolution of society, and Granite is preparing for the future. Quezada envisions that "AI will serve a purpose" and that "AI will supplement the speed you're able to get data, the speed you're able to aggregate concepts and ideas, and the speed will be able to respond to things."
However, despite technology changes, Granite will remain steadfast in supporting its Latino community engagement roots. Quezada believes understanding the community is critical to connecting to Latinos.
The company believes the only way Granite can have a successful diversity and inclusion program is by understanding Latinos and their community. The level of understanding makes Granite different from the rest of the pack because they can understand and grow the Latino community in ways other groups can't.
"This industry is set up to strengthen the middle class, and by design, Latinos make up a big part of that, and so the opportunity here for Latinos at Granite is tremendous, and by strengthening the middle class, we are strengthening Latinos in the community."
The voice of employees
Yuny Fincher – President SOMOS Latino & Hispanic Employee Resource Group
Q How has Granite encouraged your professional development?
YF:Granite has a fantastic training program, including several levels of leadership train-
ing, from which I have personally benefited. I am constantly encouraged to take the initiative and step into challenging projects that will further my accounting knowledge and skills, as well as my leadership skills.
Q How committed are you to Granite's corporate strategy?
YF: My commitment to Granite's strategy is reflected in many ways, including my involvement as the President of SOMOS Granite, our Hispanic and Latino Employee Resource Group. I resonate with Granite's strategy, which involves growth through acquisitions and a less risky portfolio of projects. All of these are supported by the company's core values: safety, integrity, excellence, sustainability, and inclusion.
Q Why do you enjoy working at Granite?
YF: The main reason I enjoy working at Granite is the people, the company's values and support through diversity and inclusion, and overall, the ethics of our leadership.
Sonny Chavez – Finance Director, Member of SOMOS
Q How has Granite encouraged your professional development?
SC: Since starting my career at Granite on July 5, 1999, I have had more opportunities than one can imagine. Utilizing the training I have received and being placed in a position to assist with the assimilation of Granite policies and procedures led me to opportunities in the Northwest. In a way, Granite's people encouraged professional development and gave me the "opportunity" to stretch and grow.
I never imagined that I would be with one employer for almost 25 years, but these opportunities have kept me engaged and invested in the company.
Q How committed are you to Granite’s corporate strategy?
SC: From my answer above, I have seen many corporate strategies during my tenure. Commitment to these strategies is evident by the way I have embraced these opportunities. In other words, if it weren’t for some of the growth strategies, I would not have had the opportunity to be in the position that I am currently in, nor would I be in the position to hopefully one day say I had 1 employer for my entire career. It is a badge of courage to say that this is still possible in the era of upward mobility by moving from company to company / opportunity to opportunity. The difficulty is allowing the corporate strategy to fully develop so as to see the full value of the direction we are going. In a rapid environment, it is very difficult to be patient and allow the development of these strategies. With all this said, yes, I am committed to Granite’s strategy. We all will have to be patient and we all will have to do it together if we are going to be successful.
Q How committed are you to Granite's corporate strategy?
SC: I have seen many corporate strategies during my tenure. Commitment to these strategies is evident in how I have embraced these opportunities. In other words, if it weren't for some of
the growth strategies, I would not have the chance to be in the position that I am currently in, nor would I be in the position to hopefully one day say, 'I had one employer for my entire career.' The difficulty is allowing the corporate strategy to fully develop to see the total value of the direction we are going. In a rapid environment, it is tough to be patient and allow the development of these strategies.
Q Why do you enjoy working at Granite?
SC: The people are the reason. Granite has always been a family. To this day, and as we continue to grow, we are finding newer ways to connect with other individuals. We use technology to achieve this but have also ventured into employment resources groups (ERGs). As technology becomes a more significant part of our lives and the primary way we connect, we must find ways to build stronger relationships with people. In other words, ERGs might be the conduit through which we put our phones/computers down and start conversing about our stories.
THE WORK ENVIRONMENT TODAY: WHAT LATINOS THINK
For this edition of top companies for Latinos to work, we thought it would be appropriate to also share the voice of Latinos who are currently part of the workforce. We have invited Diego, Jen, Cynthia and Daniel to share their thoughts on the topic.
DIEGO GUEVARA
SR. DESIGN DIRECTOR, NIKE
What do you look for in a company when applying to a job opening?
DG: When considering job opportunities, I prioritize several key factors. Firstly, I am drawn to the type of work the company does but also its internal culture and how it all aligns with my values. When there’s synergy between my values and those of the company, it creates a powerful foundation for collaboration and
growth, benefiting both parties. I always look for and enjoy working for companies that challenge me to push my boundaries and support my professional and personal development. A supportive culture speaks volumes about the organization and its commitment to employees.
How relevant is to you that a company has a clear strategy to attract and retain Latino talent?
DG: Having a clear strategy to attract and retain Latin talent is crucial to me as it aligns with my commitment to being part of and contributing to a more inclusive workplace. I am fortunate to partner with incredible colleagues who share this same passion on important initiatives and ideas that support this vision. Given the significant time and energy employees invest in their careers, it is understandable that they expect a similar level of involvement from their organizations, and a clear strategy not only demonstrates this commitment but also fosters a sense of belonging and support for all employees, ultimately leading to a more diverse and dynamic corporate environment.
In your opinion, how are Latinos advancing in the corporate sphere?
DG: The Latin community’s remarkable growth and exciting momentum, as evidenced by compelling reports, underscores the significant influence and impact Latinos are poised to have in corporate America. This journey toward increased representation in the corporate sphere is undoubtedly a marathon requiring time, consistency, and commitment. However, with each step forward, we are not only shaping markets and organizations but also inspiring future generations. I am very hopeful for the future, and excited to be part of this movement.
JEN SILFA MANAGER, GOVERNANCE & OPERATIONS, ABBVIE
What do you look for in a company when applying to a job opening?
JS:
• Values alignment: Beyond the basic job functions, I seek a company that shares my values. Examples include community, social responsibility and diversity. These things matter deeply to me.
• Work-life balance: Flexible schedules, remote work options, and generous family leave policies go a long way.
• Mentorship and development: I look for companies that invest in employee development and offer mentorship and sponsorship programs.
• Inclusive environment: I seek a company actively working towards an inclusive environment where my voice is heard and my background is valued.
What makes you feel engaged to the corporate culture and appreciated as an employee?
JS:
• Seeing my contributions valued: A company that celebrates my achievements, provides opportunities for growth, and values my cultural perspective.
• Empowering my voice: A company that encourages open communication, seeks my input on decisionmaking, and empowers me to lead from my perspective makes me feel truly engaged.
• Supporting professional development: A company that invests in my success and provides opportunities to learn and grow.
How relevant is to you that a company has a clear strategy to attract and retain Latino talent?
JS: Super relevant! A genuine commitment to Latino talent goes beyond diversity metrics. Diverse hiring panels, internships for firstgeneration students, and targeted outreach to Latinx communities show a genuine effort to create a pipeline of talent.
In your opinion, how are Latinos advancing in the corporate sphere?
JS: There's definitely progress, however, the journey is far from over. Representation at the top levels is still lacking, and the corporate pipeline has to be more diverse. The resilience, resourcefulness, and cultural perspective of the Latinx community are powerful assets, and companies should do a better job recognizing, leveraging and celebrating these strengths.
CYNTHIA Y. GOMEZ
LEAD PROJECT/PROGRAM MANAGER, AT&T
What do you look for in a company when applying to a job opening?
CG: Thankfully, I work for a company that aligns with my career growth and values. It’s important to want to work for a company that not only pays well and has great benefits but a company that aligns with your goals and values. Work doesn't feel like work when your career goals are aligned with the goals of your employer.
What makes you feel engaged to the corporate culture and appreciated as an employee?
CG: I am on the Executive Board for a Hispanic Employee Resource Group called HACEMOS and we partner closely with the company’s DE&I organization. I help HACEMOS members with their professional development and it’s always great to see their growth when they partake in the programs we offer. That keeps me engaged and wanting to help other Latinos with their development.
How relevant is to you that a company has a clear strategy to attract and retain Latino talent?
CG: It’s important that a company keeps their strategy to be inclusive to Latino talent. Companies should have attractive benefits packages with pay and retirement.
In your opinion, how are Latinos advancing in the corporate sphere?
CG: think a lot of companies are building more inclusive workplaces that promote growth and inclusion. More Latinos are educated with degrees which also helps with advancement. Employee Resource Groups that offer development programs help their members gain confidence and break free from their Imposter Syndrome.
DANIEL ZARAGOZA
SENIOR FINANCIAL ANALYST, CNA
What do you look for in a company when applying to a job opening?
DZ: There are a few factors that I consider when looking into an open role. The most important factor is confirming the company has an office of Diversity, Equity, and Inclusion set-up and evaluating how the company supports initiatives set by DEI. Secondly, I look for a company that values its employees and supports their development, whether through cohort programs and/or teams, managers, and leaders who help support and develop their employees.
What makes you feel engaged to the corporate culture and appreciated as an employee?
DZ: As I think about my current team, I appreciate mutual hard work and dedication from team members in regard to driving results and completing projects and models. Support from my manager as I share my goals and ambitions and look for their guidance in reaching those goals is also important. From the larger organization, receiving engagement from leaders within what I do as an ERG leader, as well as support from mentors and sponsors across the company makes me feel appreciated and engaged in the organization.
How relevant is to you that a company has a clear strategy to attract and retain Latino talent?
DZ: It is very important to me that companies not only have a strategy to attract and retain Latino talent, but also have similar strategies across
different affinity groups represented across ERGs/BRGs. Focusing on Latino talent, as there are far too little Latino leaders within leadership positions. I believe that to advance Latino talent, we need to create exposure to opportunities within our organizations for students as early as high school, while also providing support to Latino employees from colleagues, to managers, to senior leaders within the company. It is incredibly important for me that companies have a strategy in place not only attract Latino talent, but also develop and offer opportunities for them to become the future leaders within these companies.
In your opinion, how are Latinos advancing in the corporate sphere?
DZ: I have had the opportunity to connect with Latino leaders across my roles, however, advancement has been slow. Hispanic Executive calls out the Society for Human Resources Management’s data that shows that less than 4% of executive-level positions are held by Hispanic employees. Latinos need support, not only from our managers, but from our senior leaders across he organization to mentor and sponsor employees and share their experience and advocate for those when they don’t have a voice in the room. Knowledge sharing and advocating for Latino talent may provide what that employee needs to develop into the executive-level positions where Latino representation is much-needed.
Francisco Arias Cigar Sommelier
TCIGARDEN CLUB
BY FRANCISCO ARIAS
26TH ANNUAL BISHOP'S GALA
What a great event we just had! Allow me to share that The 26th Annual Bishop's Gala, held every January 20th, achieved remarkable success by raising $32,000 through an engaging auction with 4 winners. This enduring event plays a vital role in supporting Catholic Charities Dallas, positively impacting over 200,000 lives each year by addressing critical issues such as hunger, homelessness, and education.
his year marked the third auction of the coveted "Guys' Night Out Event," initially conceived as a single-night affair. Due to overwhelming demand, we expanded to accommodate 8 winners in the last two years, solidifying its status as a staple of the main event. Our heartfelt thanks go to Hublot Dallas for their unwavering support.
As we aim to surpass last year's outstanding achievement of raising over $300,000 overall for the event, it's essential to highlight that $32,000 was specifically contributed by the Guys' Night Out auction alone.
Four unforgettable Guys' Night Out evenings of fellowship and fun, hosted by Fr. Edwin Leonard and your friend and writer of this beautiful column as Certified Cigar Sommelier Tobacconist, Francisco Arias, we both will be awaiting the lucky winners. Alongside an exploration of the cigar world, the experience will be enhanced with the finest Arturo Fuente Cigars, including the prestigious Opus X, awarded "Cigar of the Year" by the renowned Cigar Aficionado Magazine. We're thrilled to present a carefully curated selection of top-tier spirits.
We look forward to indulging in the effervescent elegance of Dom Perignon, a renowned champagne synonymous with celebration, boasting a rich history and unparalleled craftsmanship. Furthermore, the lucky winners will have the privilege to choose between Hennessy cognac, a symbol of refinement and mastery in the art of blending, and Glenmorangie whisky. This choice ensures a personalized and exquisite experience, with the distinct flavors and aromas of the Glenmorangie 14 years, characterized by its fruity notes and a hint of spice, and the Glenmorangie 18 years, well-known for its smooth and complex palate with layers of honey, citrus, and oak.
LATINO LEADERS CELLAR
A PERFECT PAIRING INTO SPRING
Jorge Ferráez @ JFerraez_Latino @ferraez.wine Luis E. González
Izadi ORBEN
"Malpuesto" 2020, Rioja ($57)
• Fabulous, exuberant Tempranillo from the stony and mineral vineyards of La Rioja. It may be too young to drink, but already shows fantastic red fruits and a spicy character. Blueberries, raspberries and cherries, liquorice, red fruit jam and notes of humid forest; rosemary, hibiscus and red currant. Delicious and bright wine! We enjoyed this wine with a sirloin steak with pepper and fries. A real delight!
FTORRES Mas La Plana 2011 Penedès, Catalonia ($85)
• Rich and bold with red currant, cherry and ripe plum. A sophisticated wine with immense fruitiness on a black and spicy background. There are hints of licorice and pencil scrapes, which come from the Cabernet Sauvignon. It also shows some lactic notes. A magnificent wine, with a strong personality and a delicious after taste. It's been a long time since I've had one of these and it was worth the wait. At 12 years old it is fantastic! Since it's Cabernet Sauvignon I would have it with a good steak or a roast beef.
Château Léoville Barton Saint Julien, 2000 ($130).
• This is just the age I like to enjoy a Saint Julien, which is my favorite in the Bordeaux appellation. Smooth, fruity, elegant, spicy, earthy, and full of life! It shows delicious notes of mint and some ripe plums and currants. A perfect Bordeaux; round, medium to full-bodied, complex and bold. We had this one in a restaurant that allowed us to take the bottle and we enjoyed it with some lamb chops, which were delicious!
Benjamín Romeo LA VIÑA DE ANDRES ROMEO, Rioja 2006 ($179)
•An enigmatic and difficult wine to obtain. Almost a legend which shows notes of fruit jam, red currant, ripe plums and licorice. Big, deep and concentrated with enough substance for another 10 years of cellaring. Vibrant, with more notes of blackberries, powdered chocolate, and some balsamic hints. It's my first time drinking it and I wasn't disappointed at all. The wine is an absolute marvel with years of aging ahead of it.
Joseph Drouhin, Côte de Beaune, 2019 ($55)
• A good value wine on a wine list, a Burgundy that despite not being super sophisticated and expensive, is very well done. Definitely a delicious and bright Pinot Noir Noir with a lovely burgundy character: cherries, rose petals, violets, on a medium-bodied, fruity background. I loved it at a small French restaurant in Boston with "Escargot Burgignone", a real treat!
Château Gloria, Saint Julien, 2019 ($67)
• Amazing Saint Julien!! Powerful and concentrated with lots of fruit: strawberries, black cherry and dark chocolate. With a large body, firm background and sophisticated structure. Vibrant, with hints of red currant and plum flavors. Many years ahead, but delicious right now. This kind of Bordeaux makes me wonder why everyone loves them! It is a Bordeaux that is one of the most accessible in price.