Richard Vague | |
---|---|
Born | 1956 (age 67–68) Wichita Falls, Texas [1] |
Alma mater | University of Texas |
Political party | Democratic |
Board member of | University of Pennsylvania Board of Trustees, Penn Medicine Board of Trustees, FringeArts Philadelphia, Innovation Advisory Board of the Abramson Cancer Center, University of Pennsylvania Press, Institute for New Economic Thinking [2] |
Pennsylvania Secretary of Banking and Securities | |
Assumed office 2020 | |
Appointed by | Tom Wolf |
Preceded by | Robin Wiessmann [3] |
Website | https://www.richardvague.com/ |
Richard Wade Vague is an American businessperson,venture capitalist,and author who served as Secretary of Banking and Securities of Pennsylvania from 2020 until 2023. [4]
Vague was born in Wichita Falls,Texas to an Exxon engineer and a homemaker. He is the second of four children and the family moved around Texas often. He attended college at University of Texas and graduated with a B.S. in advertising in 1982. [5] [6] He worked part-time at American National Bank in Austin,Texas while attending college. After graduating he became the bank's chief marketing officer. [1] [7]
Vague's business ventures in the banking and energy sectors were built on the use of affinity marketing. [8] [9]
Vague started his business career in banking at American National Bank (later renamed MBank Austin) as chief marketing officer. [7] In 1985,Vague was president of Mpact Brokers,a discount brokerage subsidiary of MCorp Bank. [10] In 1987 he was named president and CEO of MBank USA,a credit-card bank subsidiary of Lomas &Nettleton Financial Corporation. [11] In 1989 as president of Wilmington,Delaware based credit card bank Lomas Bank USA,he and fellow MBank executive John Tolleson orchestrated the sale of Lomas' retail banking and credit card divisions to Merrill Lynch [7] for $435 million in cash and $65 million in preferred stock. [12] After the acquisition,Lomas Bank USA was renamed First USA Bank. [13] In 1990,Vague was named president of bank card company First USA Holdings. [14] In 1996,Vague and five other First USA executives sold off over 200,000 of their shares in the company. [15] Bank One acquired First USA in 1997,then the fourth largest credit card issuer in the US,for $6.65 billion in stock. [16] In June 1999,Vague and fellow Bank One executive James Stewart launched Wingspan Bank as an online banking division of Bank One. [17] By October 1999,Vague resigned as head of Bank One's credit card operations [18] after the credit card unit under-performed,which had impacted the bank's expected earnings by 15%. [19]
In 2000,Vague and former Bank One executive James Stewart founded Juniper Bank. Juniper Bank became Barclaycard US when it was acquired by Barclays in 2004. [20]
In 2007,Vague and Kevin Kleinschmidt,a former Barclaycard US executive,founded Energy Plus,an electricity and natural gas supply company. [21] Energy Plus was acquired by NRG Energy in 2011 for $190 million. [1]
In 2010,he founded venture capital firm Gabriel Investments. [22]
Vague has been a Republican,an independent and registered as a Democrat in 2017. [23] [24] In 1995 he served on Delaware's Education Improvement Commission,which recommended decentralization and deregulation of education decisions in the name of financial efficiency. [25]
In 2017,he served as finance chair on Rebecca Rhynhart's campaign for Philadelphia City Controller. [26]
In 2014,he was named to Pennsylvania Governor Tom Wolf's transition team as a member of a group to review the Department of Human Services. [27] Governor Wolf appointed Vague as Acting Banking and Securities Secretary in February 2020. [28]
Vague has donated significant sums of money to both Republicans and Democrats. [29] In the first half of 2019 he gave $150,000 to political action committee Philadelphia 3.0. [30] [31] [32]
Vague briefly considered running for president as a Democrat in 2020. He conducted 22 focus groups in early primary states. [23] [33] [34]
Vague has written five books:The Paradox of Debt (2023),The Case for a Debt Jubilee (2021),An Illustrated Business History of the United States (2021),A Brief History of Doom (2019),and The Next Economic Disaster (2014). He claims that all profits from sales of his latest "Debt Jubilee" book will "go to charity." [35]
Robert A. Brady is an American politician who served as the U.S. representative for Pennsylvania's 1st congressional district from 1998 to 2019. He was the ranking Democrat and Chairman of the United States House Committee on House Administration from 2007 to 2019. He has served as Chairman of the Philadelphia Democratic Party for more than 35 years and is a registered lobbyist for NBC Universal and Independence Blue Cross.
The Pennsylvania Turnpike Commission (PTC) is an agency created in 1937 to construct,finance,operate,and maintain the Pennsylvania Turnpike. The commission consists of five members. Four members are appointed by the Governor of Pennsylvania,while the fifth member is the Pennsylvania Secretary of Transportation.
Peter J. Camiel was an American politician from Pennsylvania who served as a Democratic member of the Pennsylvania State Senate for the 3rd district from 1953 to 1964.
Cindy M. Bass is a Democratic politician and member of the City Council of Philadelphia.
Umberto "Bert" Crenca is an American artist,arts administrator,arts advisor and educator. He is known for being a founder and long-time artistic director of the non-profit arts organization,AS220,in Providence,Rhode Island. He has been credited with helping to "lay the groundwork for much of the cultural development that shaped the Providence imaginary in the 1990s and early decades of the 21st century" by scholar Micah Salkind,and in 2010 was identified as one of Rhode Island's Most Influential People by Rhode Island Monthly.
The Extraordinary Rendition Band (ERB) is a protest marching band from Providence,Rhode Island with approximately 30 active members.
The Rhode Island Watercolor Society is a non-profit arts organization in Pawtucket,Rhode Island. It is one of the oldest watercolor arts organizations in the United States.
Marta V. Martínez is a community program administrator,activist and historian in Providence,Rhode Island.
Scott Lapham is an artist,activist and photojournalist living and working in Providence,Rhode Island. He was described as a "longtime pillar of the AS220 universe" by The Phoenix.
McFerson Commons,originally Arena Park,is a 2.2-acre (0.9 ha) park in Columbus,Ohio's Arena District neighborhood. The focal point of the park is the Union Station arch,salvaged before the demolition of Columbus's Union Station.
The Ohio National Bank building is a historic structure in Downtown Columbus,Ohio. The Neoclassical building was designed by Richards,McCarty &Bulford,built in 1911,and largely remains as built. It was a long-term location for the Ohio National Bank. It was listed on the National Register of Historic Places in 1980,noted as one of the most significant examples of Greek Doric classical ornamentation in Columbus,with refined details throughout the building.
Huntington Plaza,formerly the Huntington Trust Building,is an office building in Downtown Columbus,Ohio. It is owned by Huntington Bancshares,and is part of the Huntington Center complex,which also contains the Huntington Center skyscraper,the Huntington National Bank Building,and DoubleTree Hotel Guest Suites Columbus.
Chase Center on the Riverfront is a 92,000 square foot convention center in Wilmington,Delaware,United States. It hosts various local concerts,conventions,and banquets for the Wilmington area.
Isaiah Thomas Sr. is a Democratic politician and At-Large member of Philadelphia City Council. He was born to a family of 10 children from the East Oak Lane neighborhood of Philadelphia. He attended Frankford High School,Pennsylvania State University and Lincoln University. He was first elected to an At-Large seat on Philadelphia City Council in 2019. Thomas was re-elected to a second term with the highest votes in the 2023 primary and general elections. He assumed office January 2,2024 and was elected by fellow members to serve as Majority Whip.
David Riebel was a German-American architect in Columbus,Ohio. He was the head architect for the Columbus public school district from 1893 to 1922. In 1915,The Ohio Architect,Engineer and Builder considered his firm,David Riebel &Sons,to be the oldest and among the best architects in Columbus.
Curtis J. Jones Jr. is an American politician and a Democratic member of the Philadelphia City Council. In 2007,he was elected to represent the 4th District,which covers parts of North,Northwest,and West Philadelphia. He has served as Majority Leader (2012–2016) and Majority Whip since 2020.
The Union Station arch is a 35 ft (11 m) Beaux-Arts arch standing at McFerson Commons Park in Columbus,Ohio. The work was designed by renowned architect Daniel Burnham,as part of a grand entranceway to the city's Union Station. It has intricate details,including Corinthian columns,multiple cornices and friezes,and statuary groups;some are currently in storage.
The Renaissance Columbus Downtown Hotel is a Renaissance Hotel in Downtown Columbus,Ohio. The hotel has 22 stories,and was designed by Columbus architects Kellam &Foley in the International style.
The Park Hotel was a hotel in Columbus,Ohio. It was later in its history known successively as the Northern Hotel,the Railway Y.M.C.A.,and as the Goodale Hotel. The building stood at the northwest corner of North High Street and Goodale Street.
Leonard Thiessen was an artist from Omaha,Nebraska,best known for his work as the first art critic for the Omaha World-Herald and for his contributions to Nebraska arts administration. He was the first Executive Director of the Nebraska Arts Council and encouraged the establishment of Nebraska art collections and museums. Thiessen worked in painting,design,printmaking,and mural making.