News Release

PHILADELPHIA — Richard J. Green and Richard W. Vague have been appointed to the Penn Medicine Board of Trustees for three- year terms, effective March 1, 2013. Both were jointly nominated for their experience, expertise and ability to help further the mission of Penn Medicine, the umbrella governance structure created in 2002 to oversee both the University of Pennsylvania’s Perelman School of Medicine and Health System. One of the world's leading academic medical centers, Penn Medicine – a $4.3 billion enterprise – is dedicated to the related missions of medical education, biomedical research, and excellence in patient care.

Richard J. Green is the chief executive officer and vice chairman of Firstrust Bank, which was founded by his grandfather, Samuel A. Green, in 1934. Green manages the overall strategic direction of the privately- held bank, which offers a wide variety of deposit products, consumer and business loan options, residential and commercial real estate mortgages and cash-management products via 22 office branches throughout the Delaware Valley, Lehigh Valley and Southern New Jersey.

Green serves on the Board of Trustees of The Franklin Institute, is a member of the Board of Trustees of the Haverford School, a Trustee of the Jewish Federation of Greater Philadelphia, on the Executive Board of Federation Housing, Inc., the Jewish Publishing Group and the Jewish Community Centers of Greater Philadelphia.  In 2009, Green was appointed by the Chairman of the Federal Reserve Bank, to the Federal Reserve Board’s Community Depository Institutions Advisory (“CDIAC”) for a three-year term, and served as Chairman of the Federal Reserve District of Philadelphia CDIAC from 2011-2012. He was formerly a Trustee of the Lehigh Valley Health Network.

No stranger to volunteer leadership at Penn Medicine, Green has been a member of the Abramson Cancer Center Director’s Leadership Council and the Department of Surgery Chairman’s Leadership Council. 

Richard W. Vague is managing partner of Gabriel Investments, an early stage investment fund that focuses on the Philadelphia region, and as president of The Governor’s Woods Foundation, Philadelphia-based, private, not-for-profit philanthropic organization devoted to cultural development and progressive government policy.

Vague previously co-founded and served as chairman and chief executive officer of Energy Plus (NRG Energy since 2011) an electricity and natural gas supply company operating throughout the U.S.  He also co-founded two credit card companies over the past two decades:  First USA, which grew to be the largest Visa issuer in the industry and was sold to Bank One in 1997; and Juniper Financial, the fastest growing credit card issuer of the past decade, which was sold to Barclays PLC in 2004.

Vague currently serves on the corporate boards of Heartland Payment Systems of Princeton, NJ, Think Direct Marketing of Tampa, FL, and GoodCents Corporation of Atlanta, GA. He is President of the Philadelphia Live Arts and Fringe Festival, and serves on the boards of the Franklin Institute, the Dean’s Advisory Council of NYU’s Tisch School of the Arts, and the U.S. State Department’s Advisory Committee on International Economic Policy. He previously served on the U.S. Department of Energy’s Electricity Advisory Committee. 

Vague is also a member of the Board of Trustees of the University of Pennsylvania Press.

Penn Medicine is one of the world’s leading academic medical centers, dedicated to the related missions of medical education, biomedical research, and excellence in patient care. Penn Medicine consists of the Raymond and Ruth Perelman School of Medicine at the University of Pennsylvania (founded in 1765 as the nation’s first medical school) and the University of Pennsylvania Health System, which together form a $9.9 billion enterprise.

The Perelman School of Medicine has been ranked among the top medical schools in the United States for more than 20 years, according to U.S. News & World Report's survey of research-oriented medical schools. The School is consistently among the nation's top recipients of funding from the National Institutes of Health, with $546 million awarded in the 2021 fiscal year.

The University of Pennsylvania Health System’s patient care facilities include: the Hospital of the University of Pennsylvania and Penn Presbyterian Medical Center—which are recognized as one of the nation’s top “Honor Roll” hospitals by U.S. News & World Report—Chester County Hospital; Lancaster General Health; Penn Medicine Princeton Health; and Pennsylvania Hospital, the nation’s first hospital, founded in 1751. Additional facilities and enterprises include Good Shepherd Penn Partners, Penn Medicine at Home, Lancaster Behavioral Health Hospital, and Princeton House Behavioral Health, among others.

Penn Medicine is powered by a talented and dedicated workforce of more than 47,000 people. The organization also has alliances with top community health systems across both Southeastern Pennsylvania and Southern New Jersey, creating more options for patients no matter where they live.

Penn Medicine is committed to improving lives and health through a variety of community-based programs and activities. In fiscal year 2021, Penn Medicine provided more than $619 million to benefit our community.

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