The Financial Oversight and Management Board for Puerto Rico announced Thursday the appointment of attorney Jaime A. El Koury as General Counsel, or chief legal officer for the federally appointed body.
His primary responsibilities will include addressing outstanding litigation associated with the Oversight Board’s fiscal recovery initiatives, leading the Oversight Board’s debt restructuring efforts and ensuring that all other related Board projects and affairs are being initiated and carried out in a manner consistent with applicable laws and regulations, in adherence with the highest ethical standards and sustainable over time.
“We are very pleased to be able to count on Jaime’s legal expertise, negotiating abilities, understanding of economics and impeccable ethical and professional credentials to help the Oversight Board in the tasks we have to accomplish under PROMESA. The fact that he is from Puerto Rico is a definite plus,” said Oversight Board Chairman José B. Carrión.
Born and raised in Puerto Rico, El Koury graduated from the Academia Perpetuo Socorro. He earned his undergraduate Bachelor of Arts degree in economics, summa cum laude, from Yale University in 1975 and his Juris Doctor degree from Yale Law School in 1978. After law school, El Koury served as law clerk for then Puerto Rico Supreme Court Chief Justice Jose Trías-Monge.
Mr. El Koury built a 35-year career at Cleary Gottlieb Steen & Hamilton, from which he retired in 2014. At Cleary, he counseled both public and private sector clients, mostly with a focus in Latin America, but was not part of the team that advised the Commonwealth’s government during former Gov. Alejandro García-Padilla’s administration.
El Koury is a member of the Bars in New York and Puerto Rico and is admitted to practice before the U.S. District Court for the District of Puerto Rico and the Southern District of New York.
“I welcome this opportunity to make a contribution to Puerto Rico. PROMESA is a tool provided by Congress to help get the island back on the path of fiscal balance, regain access to the credit markets and restore economic opportunities for all in Puerto Rico. And I will do my very best to help the Oversight Board achieve those goals,” said El Koury.