Hubbell named to head IDED

Fred Hubbell of Des Moines has been named by Gov. Chet Culver as the interim director of the Iowa Department of Economic Development (IDED).

Culver also announced that Joe O'Hern, deputy director at the Iowa Finance Authority (IFA), will serve

 as IDED interim deputy director, focusing on IDED's flood recovery efforts.

The announcement comes in the wake allegations of lax oversight, potential abuses, administrative “irregularities,” and uncertainty over how much taxpayer money has been obligated. Since becoming aware of the situation Sept. 15, Culver has frozen the program's funding, accepted the resignation of Mike Tramontina as IDED director and Deputy Director Vince Lintz. Tom Wheeler, manager of the film office has been dismissed.

Culver said Hubbell, who has led global companies as well as civic initiatives in Iowa, “will help us ensure that proper oversight is in place for IDED programs.” Due to previous commitments, he will begin the interim appointment Oct. 5.

In announcing the appointment Culver said he was “honored that someone with Fred's experience, integrity and commitment to our state will serve in this key position.” 

Hubbell called economic development “a critical engine for growth” in Iowa.

He was appointed by Culver to chair the Iowa Power Fund Board in 2007. Now he will represent IDED on the board. He co-chair the Iowa Disaster Collaborative, which raised millions of dollars on behalf of those affected by last year's natural disasters.

Hubbell was a member of the executive board and chairman of Insurance and Asset Management Americas for ING Group, a Netherlands-based banking, insurance and asset management company. Hubbell served as an Executive Board member from May 2000 through April 2006, when he retired from the board. He was also responsible for Nationale Nederlanden, ING's largest Dutch insurance company, and ING's asset management operations throughout Europe beginning in May 2004.

Hubbell has served in various capacities with Equitable of Iowa Companies, an insurance holding company, since 1983, including as chairman, president and CEO. He also served as chairman of Younker's.

O'Hern, a Princeton University graduate, has spent more than 20 years drafting legislation in the Iowa legislature. Previously he was regional representative for the U.S. Department of Housing and Urban Development in Kansas City, KS, before becoming head of the Fannie Mae Partnership Office in Iowa. During his time at IFA. Culver appointed him to the Rebuild Iowa Task Force to help coordinate efforts in rebuilding communities after the natural disasters of 2008.