Saglio Leaves Commerce, Fagan Gets Moved Up

Saglio Leaves Commerce, Fagan Gets Moved Up

Two major staff changes were announced at Commerce RI on Monday.

Stefan Pryor, the Secretary of Commerce, announced that Hilary Fagan, currently the Executive Vice President of Business Development at the Rhode Island Commerce Corporation, will take the role of President of the agency beginning March 5 replacing Jesse Saglio. 

Saglio is leaving the agency.

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“Jesse Saglio has made enormously valuable contributions to the Commerce team’s efforts as we’ve worked to rebuild our economy in the lingering aftermath of the Great Recession and more recently in the wake of the pandemic-related downturn,” said Rhode Island Commerce Secretary Stefan Pryor. “Jesse’s potent analytical skills and data-based insights have been crucial to the evaluation and the advancing of key projects and initiatives across our state. We are grateful for Jesse’s thoughtful leadership and dedicated service; we wish him the best in his next endeavor.”

Fagan joined RI Commerce in 2016 as the Executive Vice President of Business Development. In that role, she built a team and developed and executed a business development strategy for the state across targeted sectors for business growth including bioscience and the blue economy, said the agency.

Prior to joining the Commerce Corporation, Fagan worked in the financial services industry. She was a director in the corporate client group at the NASDAQ stock market, Washington, DC, where she worked with the CFO and investor relations officers of NASDAQ-listed companies on trading issues, marketing, and public relations. Prior to NASDAQ, she was a research sales associate at Morgan Stanley in New York. At Morgan Stanley, Hilary worked in the institutional equity department, providing research sales coverage for institutional accounts based in New York and Europe. She also served as the director of admission at Lincoln School focusing on enrollment management, marketing and advertising.

“Hilary has ably guided key Commerce activities to date, helping existing Rhode Island businesses expand and new businesses land in our state,” said Pryor. “Hilary exemplifies professionalism, proactivity, and tenacity – qualities that will continue to serve her and the organization well as she steps into the position of Corporation President. We are grateful to Hilary for taking on this new role and we look forward to her leadership in this new capacity.”