Francisco L. Borges facts for kids

Francisco Lopes Borges (born November 17, 1951) is an American politician and business leader. He served as the Connecticut State Treasurer from 1987 to 1993. Mr. Borges was the third Black person to hold this important state position in Connecticut.

Early Life and Education

Where Francisco Borges Grew Up

Francisco Borges was born in Cape Verde, an island country off the coast of Africa. His parents were Manuel and Maria Lopes Borges. When he was young, his family moved to New Haven, Connecticut, where he grew up. He was the oldest of five children.

Learning and School

When Francisco was 8 years old, he learned to speak English. Before that, he only spoke Portuguese. He attended Millbrook School with the help of a scholarship. After high school, he went to Trinity College. He earned his Bachelor of Arts degree there in 1974. Later, in 1978, he received his law degree from the University of Connecticut School of Law.

Early Career

Before becoming a politician, Francisco Borges worked as a lawyer. He was an associate counsel at Travelers, a large insurance company. He worked there from 1978 until 1986.

Political Career

Starting in Local Government

Francisco Borges began his political journey in Hartford, Connecticut. In 1981, he was elected to the Hartford City Council. He then served as the deputy mayor of Hartford from 1983 to 1985.

Becoming State Treasurer

In 1986, Borges was elected as the Connecticut State Treasurer. He won against his opponent, Sebastian J. Garafalo, by a good margin. He was re-elected in 1990, winning by a smaller margin against former state treasurer Joan R. Kemler.

Important Decisions as Treasurer

As State Treasurer, Borges made some significant decisions. He decided to stop the state's pension funds from investing in companies that did business in Northern Ireland. He also stopped investments in companies that were involved with the unfair system in South Africa called apartheid. This system treated people unfairly because of their race.

Leaving Public Office

On March 1, 1993, Francisco Borges left his role as State Treasurer. He decided to take a job as an executive at the Financial Guaranty Insurance Company. This company is based in New York City. Some US Senators, Chris Dodd and Joe Lieberman, had hoped he would lead a federal agency. However, Borges chose to accept the job in the business world. After he left, Joseph M. Suggs Jr. was chosen to finish the rest of Borges's term as treasurer.

Business Career

Working in Investments

Today, Francisco Borges is the chair and managing partner of Landmark Partners. This is an investment company located in Simsbury, Connecticut.