Why Fred Hochberg, chairman of Export-Import Bank, is so bullish about our economy
About Fred P. Hochberg
Fred P. Hochberg is Chairman and President of the Export-Import Bank of the United States and one of the highest ranking business leaders in the Obama Administration.
Under his leadership in FY 2011, Ex-Im Bank for the third-straight year set export finance records in a number of key areas. Overall financing for the first time exceeded $32 billion and supported $40.6 billion in exports and approximately 290,000 export-related American jobs at more than 3,600 U.S. companies. Small business financing rose over 70 percent from $3.3 billion in FY 2008 to $6 billion in FY 2011. Renewable energy export financing more than doubled to $721 million over the previous fiscal year.
During Hochberg's tenure, the Bank has increased its focus on customers, both foreign buyers and U.S. exporters. It is seeking new markets for U.S. goods and services in emerging economies with growing infrastructure needs, including Mexico, Brazil, Colombia, Turkey, India, Indonesia, Vietnam, Nigeria and South Africa. Hochberg has also worked to expand the global footprint of key domestic industries in which U.S. exporters have a comparative advantage. These include renewable energy, construction and farm machinery, medical technology, agriculture, and avionics. In addition, he has streamlined processes, cut transaction times and introduced innovative new financial products.
As head of Ex-Im Bank, Chairman Hochberg plays an essential role in President Obama's plan to double U.S. exports in five years.
From 2004 to 2008, Hochberg was dean of Milano, The New School for Management and Urban Policy in New York, N.Y. From 1998 through 2001, he served as deputy, then acting administrator of the Small Business Administration (SBA), where he quadrupled lending to minority- and women-owned small businesses.
Prior to his service at SBA, Hochberg was the long-time President and Chief Operating Officer of the Lillian Vernon Corporation, where he led the transformation of a small, family mail order company into an international, publically traded direct marketing corporation.
Hochberg is a past board member of the Port Authority of New York and New Jersey, the Citizens Budget Commission, and FINCA International Micro Finance. He was also an appointed representative to the New York State Financial Control Board.
A native of the greater New York metropolitan area, Hochberg received his undergraduate degree from New York University and his MBA from Columbia University. Hochberg's partner is writer Tom Healy.
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