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POSTED: Saturday, April 04, 2009

Citigroup's Parsons to give talk at UH

Citigroup Chairman Richard Parsons, who has been at the center of efforts by the Federal Reserve and U.S. Treasury to rescue financial institutions and restore stability to the global financial system, will give a free public keynote address at 7 p.m. Tuesday at Kennedy Theatre on the University of Hawaii campus.

Parsons, a former UH student, is coming to Honolulu as the 2009 Dan and Maggie Inouye Distinguished Chair in Democratic Ideals. His speech is entitled “;The Global Financial Crisis: Origins and Solutions.”;

Established in 2005, the Dan and Maggie Inouye Distinguished Chair in Democratic Ideals recognizes the lifetime of service by U.S. Sen. Inouye to Hawaii and the nation, as well as his late wife's work in education.

Doors for the lecture will open at 6:30 p.m. Overflow seating will be available at the East-West Center in the Keoni Auditorium.

Venture capital president named

Karl Fooks has been named president of the Hawaii Strategic Development Corp., which is responsible for developing the venture capital industry in the state to stimulate the growth of viable new businesses.

Fooks, who took over April 1, was formerly a managing director and head of private equity in Asia for JPMorgan Chase & Co. Prior to that position, he was head of mergers and acquisitions in Asia for JPMorgan.

“;Since its inception in the early 1990s, HSDC has been a catalyst in creating a venture capital market where nearly 30 investment funds are currently active in supporting new business formation here in Hawaii,”; he said.