Gov. Pat Quinn last week named former Illinois Finance Authority executive director Kym Hubbard as the new chairwoman of the Illinois Student Assistance Commission.

Hubbard is treasurer and chief investment officer at Ernst & Young. She replaces Don McNeil. Quinn also named former Chicago city clerk Miguel del Valle to serve on the commission’s board.

The agency has come under fire for losses suffered by the College Illinois prepaid tuition program, which it manages. The program is under investigation by the state auditor general for its risky investment practices.

“Kym Hubbard and Miguel del Valle both bring a fresh approach and a lifetime of public and private sector experience to this important board,” the governor said in a statement.

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