Louis Hernandez, Jr., is Chairman of the Board and Chief Executive Officer of Open Solutions Inc., the leading provider of collaborative enterprise technology to community-based financial institutions worldwide. Open Solutions is an innovative and rapidly growing software and solutions company headquartered in Glastonbury, Connecticut, with a global client base of more than 3,500 clients, approximately 1,500 employees and revenues of more than $400 million. The company was named one of the “25 Fastest-Growing Technology Companies” by Forbes Magazine and listed in the Bank Technology News “10 Technology Companies To Watch” report. It has been named to the Connecticut Technology Council’s Fast 50; the Deloitte & Touche Technology Fast 500; and American Banker and Financial Insights’ FinTech 100. These organizations recognize leading companies in the technology sector for outstanding growth and innovation.
Mr. Hernandez is also the author of two books and numerous articles. His most recent book, Saving the American Dream – Main Street’s Last Stand, explores the intimate relationship between the American Dream, American policymaking and America’s community-based financial institutions. In it, Mr. Hernandez explains how key government policies aimed at supporting the American Dream have unintentionally undermined its most important values and institutions, and outlines what must be done to restore the dream and rebuild the American economy. His previous book, Too Small to Fail, explained why the leaders of community-based financial institutions are ideally positioned to lead the financial services industry back to the center of economic vitality and drive economic growth - one community at a time.
As an advocate, Mr. Hernandez speaks out passionately on the unique value of America’s community based financial institutions and the adverse impact that recent U.S. banking regulations have had on them. He recently inaugurated a nationwide bus tour and petition drive to Save the American Dream, promoting policy initiatives that are less punishing to small businesses and the community-based financial institutions that support them. Mr. Hernandez has appeared before financial industry organizations such as American Bankers Association and the Credit Union Executive Society, and he has been a frequent guest on Fox Business, CNBC, ABC News, and Bloomberg TV, speaking on the topics of technology, economics, strategic planning and globalization. He also has been featured on TheStreet.com, The New York Times, the Wall Street Journal and other prestigious national and trade publications.
Mr. Hernandez serves on the board of directors of HSBC North America Holdings Inc., the North American holding company for the consumer lending arm and principal banking subsidiaries in the U.S. and Canada of one of the largest banking and financial services organizations in the world. He also serves on the board of directors of HSBC USA Inc., an indirectly-held wholly-owned subsidiary of HSBC North America Holdings Inc. and one of the 10 largest bank holding companies in the U.S. by assets, and its principal subsidiary, HSBC Bank USA, N.A. Mr. Hernandez is a current member of the board of directors of Avid Technology Inc. (NASDAQ: AVID), a publicly-traded company and worldwide leader in providing tools for film, video, audio, 3D animation, gaming and broadcast professionals.
Mr. Hernandez is a recognized technology executive having been appointed by the Governor of Connecticut to be vice chair of the Governor’s Council on Economic Competitiveness and Technology as a representative of business with expertise in information technology. Mr. Hernandez chaired the Technology Transfer Advisory board set up by the Governor’s Council to develop strategies for technology transfer and commercialization in the state, is the past Chairman of the Connecticut Technology Council and the former Vice Chair of the Commission for Educational Technology.
Through his private foundation, Mr. Hernandez actively supports children’s issues and advances in healthcare and education. Additionally, he is involved in a diverse range of community issues, including serving as a member of the board of trustees of the Connecticut Science Center (a statewide cultural, entertainment and educational institution) and a board member of the Connecticut Children’s Medical Center (an organization dedicated to improving the physical and emotional health of children). The Cystic Fibrosis Foundation named Mr. Hernandez a Community Leader of the Year in honor of his many contributions to the community. In addition, he was appointed the “Distinguished Business Executive” in Residence at Eastern Connecticut State University. This appointment by the Dean and Board of Trustees of the Connecticut State University System gives recognition to his exemplary contributions and achievements in the field of business, his contributions to society and his commitment to inspiring others.
Mr. Hernandez is a past recipient of the Hartford Business Journal’s Business Person of the Year and has been named one of the Hartford Business Journal's top executives under 40 and was an Ernst & Young New England Entrepreneur of the Year finalist. He was also named one of the financial service industry’s five most innovative leaders, an Innovator of the Year and inducted into the Leadership Hall of Fame by Bank Technology News, a national financial services publication.