Mahalo for supporting Honolulu Star-Advertiser. Enjoy this free story!
Central Pacific Financial Corp. has increased the size of its board of directors, effective March 1, to 12 from 11 by appointing Christopher Lutes.
Lutes, 50, has more than 20 years of experience in the financial services industry in the executive and chief financial officer capacities. He is currently chief financial officer of Elevate Credit Inc., which specializes in tech-enabled online credit solutions. He has been CFO at Elevate and its predecessor company since 2007. He will join the boards of both the holding company and Central Pacific Bank.
Prior to joining Elevate, Lutes was the CFO for Silicon Valley Bank from 1998 to 2001. He began his career in public accounting with Coopers & Lybrand.
Senate approves Powell as next Fed head
WASHINGTON >> The Senate on Tuesday approved President Donald Trump’s selection of Jerome Powell to be the next chairman of the Federal Reserve beginning next month.
Senators voted 84-13 to confirm Powell to lead the nation’s central bank, a post that is considered the most powerful economic position in government.
Powell will succeed Janet Yellen, the first woman to lead the Fed, when her term ends Feb. 3. Trump decided against offering Yellen a second four-year term as chairwoman despite widespread praise for her performance since succeeding Ben Bernanke.
Powell, 64, has served for 5-1/2 years on the Fed’s board. A lawyer and investment manager by training, he will be the first Fed leader in 40 years without an advanced degree in economics. Many expect him to follow Yellen’s cautious approach to interest rates.
Powell, viewed as a centrist, enjoyed support from Republicans and Democrats.
The 13 senators who voted against Powell’s nomination included four Republicans, eight Democrats and Sen. Bernie Sanders, an independent who votes with the Democrats.
ON THE MOVE
Hawaiian Cool Water has promoted a lead technician as well as added a regional representative:
>> Kenworth Kauila has been promoted to lead technician from technician. He has been with HCW since 2012. Kauila’s responsibilities include overseeing service and installation of reverse osmosis filtered water coolers, ice machines and air conditioning cooling tanks on the Big Island, Oahu, Kauai and Maui.
>> Andrew Ling, a kitchen design consultant, is HCW’s new regional representative. He has experience in kitchen design as well as the local restaurant industry, including having previously served as a project manager with Mid-City Restaurant Supply.
The National Marine Sanctuary Foundation has hired Tiare Turang Holm as its Hawaii director. She has more than 20 years of experience managing conservation programs in Palau and the Pacific islands region, including previously serving as executive director of the Palau Conservation Society.
74