WASHINGTON - The U.S. Small Business Administration has officially named Steven Preston as its next administrator, replacing Hector Barreto.
Preston previously served as executive vice president of strategic services at ServiceMaster Co. a home and landscape maintenance firm with more than 5,500 company-owned locations and franchised licenses. Preston's career experience also includes ServiceMaster Co.'s executive vice president and chief financial officer. He also served as senior vice president and treasurer of First Data Corp. Earlier in his career, he was a senior vice president in investment banking at Lehman Brothers.
CUNA and NAFCU said they both look forward to working with Preston. House Small Business Committee Chairman Don Manzullo (R-Ill.) said Preston "is a natural leader who will meet and exceed the many challenges he will encounter at the helm of the SBA."
Barreto served at the agency for five years. He left the agency to head The Latino Coalition, a nonprofit organization formed to address policy issues that affect Hispanics.