2:25pm | The chief financial officer of a locally based health care organization has been selected to serve on the board of directors for the Federal Reserve Bank of San Francisco’s Los Angeles branch.
Long Beach-based Molina Healthcare Inc. announced CFO John Molina’s appointment early this afternoon.
According to information provided by Molina Healthcare spokeswoman Kathleen O’Guin, the Long Beach native is one of seven board members for the Los Angeles branch who will provide the Federal Reserve System with economic information about their respective industries and regions.
The Federal Reserve utilizes this input when mulling over fiscal policy decisions that affect the entire nation.
In his capacity as CFO at Molina Healthcare, John Molina oversees all of the company’s financial activity, as well its business development and mergers and acquisitions program.
The company provides “cost-effective Medicaid-related solutions to meet the health care needs of low-income families and individuals and to assist state agencies in their administration of the Medicaid program,” according to information provided by O’Guin.
John Molina received a bachelor’s degree in economics from Cal State Long Beach and a juris doctor from the USC School of Law.
According to a spring 2005 article in USC’s Trojan Family Magazine, Molina Healthcare was at that time the second-largest Hispanic-owned business in California.
John Molina has been with the company since its inception in 1980, when it was launched by his father, a former Long Beach emergency room physician. John Molina’s brother, Mario Molina, serves as chief executive officer.
For more information on the health care company, visit MolinaHealthCare.com, or check out its company profile on Goliath.com by clicking here.
The Federal Reserve Bank of San Francisco has additional branch offices in Seattle, Salt Lake City and Portland, as well as a cash processing office in Phoenix. It provides wholesale banking services to financial institutions throughout the nine western states. As the nation’s central bank, the Federal Reserve System formulates monetary policy, serves as a bank regulator, administers consumer protection laws and is the fiscal agent for the U.S. government.