By CB Online Staff
Former Puerto Rico Gov. Luis Fortuño has been named to board of advisors at Media Group of America, LLC, a Republican-led company launched in the wake of the GOP’s disappointing showing in the 2012 elections in the U.S.
Since leaving office after one term in January, Fortuño has been serving as a partner in the Washington, D.C. office of the Steptoe and Johnson, an international law firm with offices in Beijing, Brussels, Century City, Chicago, London, Los Angeles, New York and Phoenix.
Fortuño, who works out of the law firm’s Washington office, practices in the corporate, securities, and finance group and the government affairs and public policy group. He is also continuing the expansion of Steptoe’s Latin American practice.
Fortuño, who headed the island’s statehood New Progressive Party and is a member of the national Republican Party, narrowly lost his bid for a second term as governor last November. He continues to serve as the Republican National Committeeman for Puerto Rico. (Como??? si ya no vive en PR!!)
Under his leadership, Puerto Rico downsized its bloated government, reined in deficit spending and implemented the biggest tax cut in the island’s history. He is also credited on Wall Street with keeping Puerto Rico’s credit rating from sinking to junk level.
Steptoe was contracted by the government during Fortuño’s tenure to design the Law 154 tax strategy, which levied an excise tax on multinational firms operating on the island and provided the financing for the tax reform, the former governor’s signature achievement while in office.
Fortuño’s signature public-private partnerships law paved the way for two of the largest recent infrastructure investment projects in the Americas — one in Puerto Rico’s highway system and the other at its hub airport.
While governor, Fortuño served as president of the Council of State Governments (2011-2012) and as chairman of the Southern Governors Association (2011-2012). He also served on the board of directors of the Center for Best Practices of the National Governors Association (2010-2012) and was appointed by President Obama to be one of ten governors serving in the Council of Governors (2010-2012).
Prior to his election to La Fortaleza, Fortuño served four years as resident commissioner in Congress, the island’s sole representative on Capitol Hill. During that time, he served as vice-chair, and then chair of the Congressional Hispanic Conference. He also was co-chair of the Congressional Friends of Spain, part of the Hispanic Conference Caucus.
Earlier in his public service career, he served as Puerto Rico’s Economic Development & Commerce secretary during the Rosselló administration, and simultaneously as executive director of the Puerto Rico Tourism Co. and president of the Hotel Development Corp.
In private practice in Puerto Rico, Fortuño was a partner in the McConnell Valdés law firm, and later a founding partner of the boutique firm Correa, Collazo, Herrero, Jiménez & Fortuño. He has represented Fortune 500 companies in regulatory, financial, real estate, mergers and acquisitions, and other corporate matters throughout Latin America.
Fortuño earned his juris doctor from the University of Virginia and his bachelor’s degree from Georgetown University’s School of Foreign Service. He is admitted to the practice of law in the District of Columbia and Puerto Rico, and is a member of the American Law Institute.
Formed in March 2013, MGA Holdings houses three core businesses that collectively address challenges and opportunities evident in the aftermath of the 2012 electoral campaign.
Fortuño, who works out of the law firm’s Washington office, practices in the corporate, securities, and finance group and the government affairs and public policy group. He is also continuing the expansion of Steptoe’s Latin American practice.
Fortuño, who headed the island’s statehood New Progressive Party and is a member of the national Republican Party, narrowly lost his bid for a second term as governor last November. He continues to serve as the Republican National Committeeman for Puerto Rico. (Como??? si ya no vive en PR!!)
Under his leadership, Puerto Rico downsized its bloated government, reined in deficit spending and implemented the biggest tax cut in the island’s history. He is also credited on Wall Street with keeping Puerto Rico’s credit rating from sinking to junk level.
Steptoe was contracted by the government during Fortuño’s tenure to design the Law 154 tax strategy, which levied an excise tax on multinational firms operating on the island and provided the financing for the tax reform, the former governor’s signature achievement while in office.
Fortuño’s signature public-private partnerships law paved the way for two of the largest recent infrastructure investment projects in the Americas — one in Puerto Rico’s highway system and the other at its hub airport.
While governor, Fortuño served as president of the Council of State Governments (2011-2012) and as chairman of the Southern Governors Association (2011-2012). He also served on the board of directors of the Center for Best Practices of the National Governors Association (2010-2012) and was appointed by President Obama to be one of ten governors serving in the Council of Governors (2010-2012).
Prior to his election to La Fortaleza, Fortuño served four years as resident commissioner in Congress, the island’s sole representative on Capitol Hill. During that time, he served as vice-chair, and then chair of the Congressional Hispanic Conference. He also was co-chair of the Congressional Friends of Spain, part of the Hispanic Conference Caucus.
Earlier in his public service career, he served as Puerto Rico’s Economic Development & Commerce secretary during the Rosselló administration, and simultaneously as executive director of the Puerto Rico Tourism Co. and president of the Hotel Development Corp.
In private practice in Puerto Rico, Fortuño was a partner in the McConnell Valdés law firm, and later a founding partner of the boutique firm Correa, Collazo, Herrero, Jiménez & Fortuño. He has represented Fortune 500 companies in regulatory, financial, real estate, mergers and acquisitions, and other corporate matters throughout Latin America.
Fortuño earned his juris doctor from the University of Virginia and his bachelor’s degree from Georgetown University’s School of Foreign Service. He is admitted to the practice of law in the District of Columbia and Puerto Rico, and is a member of the American Law Institute.
Formed in March 2013, MGA Holdings houses three core businesses that collectively address challenges and opportunities evident in the aftermath of the 2012 electoral campaign.
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