Fred Hochberg (pronounced Hock-berg) has been chosen as the first openly gay director of the Export-Import Bank of the United States, the nation's official export credit agency, which helps export American goods and services to other countries. Hochberg has been a longtime contender for high-level posts in the Obama administration, thanks in part to the Presidential Appointments Project, which was started to help connect interested LGBT applicants with positions as presidential appointees in the upcoming administration.

Hochberg has also served as co-chair of the Human Rights Campaign. He is currently the dean of Milano The New School for Management and Urban Policy in New York. In 1994 he founded the Heyday Company, a private investment firm, before serving on President Clinton's Management Council, later as head of the Small Business Administration. Hochberg was also a top pick among the LGBT grassroots to replace New Mexico Governor Bill Richardson as Secretary of Commerce after Richardson withdrew himself from consideration.

"The chair of the Export-Import Bank of the United States is an important position in President-elect Obama's economic team," said Human Rights Campaign President Joe Solmonese. "Fred is one of the most highly qualified and experienced public servants in our community and the fact that President-elect Obama has tapped him for such an important economic position speaks well for the LGBT community."

"This is very good news," added Chuck Wolfe, President and CEO of the Gay & Lesbian Victory Fund. "Fred Hochberg's talent will serve U.S. companies well. But he will also set an important example as an openly gay person in a top leadership position in the business community."