Martinez leaving nonprofit work, heads to Vanguard

Attorney and prominent social services advocate Alba Matinez said today she is resigning as president and chief executive of the United Way of Southeastern Pennsylvania to take a position overseeing college savings accounts at the mutual fund giant Vanguard Group.

Martinez, 45, will replace John Heywood as director of Vanguard's Education Markets Group, which runs the company's "529" college savings plans, said Vanguard spokeswoman Linda Wolohan. She will report to Heywood, who is being promoted.

Jill Michal, United Way's chief financial officer and executive vice president for operations, will serve as interim president & CEO of the United Way until a replacement is found.

Martinez said she will leave United Way in May, after the nonprofit has completed its annual fundraising campaign. The agency raises money to help social service agencies in Philadelphia and portions of Chester, Delaware and Montgomery counties.

Martinez, who was Philadelphia's human services commissioner before taking the United Way job nearly four years ago, has seen the agency's annual fundraising grow from $48.5 million in 2003 to $54 million during the campaign ending this month. The agency is $150,000 shy of its goal this year, she said.

"The reason why I am eager and excited about this opportunity was to augment my experience by moving into the business sector," said Martiznez, a Puerto Rico native who said her own difficulty paying for law school fueled her interest in the new job.

Vanguard CEO Jack Brennan, a member of the United Way board of directors who led the agency's fundraising campaign in 2001, said the company was pleased to bring Martinez on board.

"Her experience with community-based programs, along with her energy and enthusiasm, make her a natural fit for our Education Markets Group, which seeks to ease the burden of college savings for America's families," Brennan said.

Vanguard administers 23 college savings plans in 22 states - $21 billion worth, Martinez said.

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