Chicago United Names Gloria Castillo as President.

Business Editors

CHICAGO--(BUSINESS WIRE)--July 16, 2003

Chicago United, an organization of the city's business leaders that promotes racial diversity in all levels of business, today announced that Gloria Castillo, a well-known entrepreneur in the Chicago community, will be the group's next president. Castillo will succeed longtime Chicago United President Carolyn Nordstrom on Sept. 2.

"We're excited to have Gloria lead Chicago United," said Tim Schwertfeger, Chairman of Nuveen Investments and Chairman of the Executive Committee of Chicago United. "We're confident that her professionalism, experience and passionate commitment to the value of broad diversity in our business community will significantly advance our mission to build a multi-racial business leadership continuum in Chicago. Gloria's exceptional business experience, leadership ability and entrepreneurial spirit will serve us well as we expand our efforts to achieve greater racial diversity in executive management and on corporate boards."

Chicago United, founded in 1968, is a broadly diverse corporate membership organization of senior level executives and entrepreneurs in the Chicago metropolitan area. The organization works to close the gap between race and business by raising business community awareness of the value of racial diversity in business and civic leadership and by eliminating barriers to multi-cultural access and success.

"Chicago United is a groundbreaking organization," Castillo said. "It has been the innovator and leader in building positive relations between corporate business leaders and ethnic minority business leaders. It's now a critical time to protect and build on the gains that have been made in the area of diversity. I am very proud to have the opportunity to work side by side with the leaders of this city dedicated to making Chicago the premier city in which to work and live. The efforts of Chicago United have helped to build a strong social and business environment and I look forward to bringing all of my energy and passion to our mission."

A Chicago native, Castillo served as president of Monarch Marketing Group, her former family business, from 1992 to 2002 with bottom-line responsibility for the $5 million promotional products firm. Previously, as vice president, she led all operational, sales and marketing initiatives. Earlier in her career she held positions at Redbook Magazine and Crain's Chicago Business, after receiving a B.A. with honors from the University of California at Santa Barbara. Castillo serves on the boards of the Chicago Minority Business Development Council, Accion Chicago and the National Procurement Council of the United States Hispanic Chamber of Commerce. She also has served as co-chair of the Chicago Minority Business Development Council. She has received many honors, including the 1999 "Entrepreneurial Woman of the Year" award from the Women's Business Development Center. She also has been recognized among "100 Most Influential Women in Chicago," by Crain's Chicago Business and "100 Successful Latinas," by Hispanic Magazine.

"As we welcome Gloria, we also want to thank Carolyn for her more than 13 years of dedicated service and leadership that have established Chicago United as an impressive and highly effective force for positive change," said Schwertfeger, who also is Chairman and Chief Executive Officer of Nuveen Investments. "Thanks to Carolyn's energy and expertise, Chicago United is now positioned to achieve an even higher degree of influence in the business community. On behalf of everyone associated with Chicago United, I want to recognize her contribution and wish her all the best in the future."

Chicago United recently shifted its strategic focus to increasing diversity among the ranks of senior executives and corporate board members. In 2001 the organization launched a Race and Business Forum program and an annual Corporate Diversity Profile measuring racial diversity on boards and in the senior management ranks of the top 100 Chicago companies. In 2002 it created a Changing How Chicago Works program to recognize companies making significant progress toward their goals in these areas. In October, it will introduce its first "Business Leaders of Color" publication highlighting local individuals in established corporations as well as entrepreneurs.

"Whatever new challenge comes next for me, it is difficult to imagine another experience that will compare with my time as a part of Chicago United," Nordstrom said. "I have worked with the best business leadership in the City to add to the quality of life for everyone in Chicago and am excited to look forward, knowing what Gloria brings to the organization. CU is in great hands!"

In addition to Nuveen Investments, companies represented on the Chicago United Executive Committee include: Aon; Abbott Laboratories; Ariel Capital Management; Blue Cross and Blue Shield of Illinois; Exelon; Hill, Taylor LLC; Jewel-Osco; Loop Capital Markets; South Shore Bank; and Sanchez & Daniels.