Chris Garcia Quoted in Hispanic Trends

The "Trendsetter" column in the May 2006 issue of Hispanic Trends magazine looks at "Hispanics Making Inroads on Bank Boards" noting "When Hispanics talk, bank boards listen. And more of those banks board members just happen to be Hispanic. Hispanics hold 95 seats on boards of directors at Fortune 500 companies, including some of the largest financial institutions in America."

"With Hispanics gaining clout in business, politics and American entertainment, diversification is no longer an option for banks that hope to win the personal, business and investment accounts of this demographic, says Christopher Garcia, a partner at the law firm of Seyfarth Shaw in Chicago. "It's bad business not to go after the Hispanic market," he says, "Banks can't afford to ignore this market. It's loyal and it's got money." Of course, Hispanic board members are taking a certain risk. If a Hispanic board member makes a bad investment in a Hispanic business, he will be subject to a lot of second-guessing by his non-Latino colleagues about cultural bias, according to Garcia. "There is a lot more pressure on Hispanic board members to invest in the Hispanic community. A lot of people don’t understand that these are real pioneers," he explains.