SCHENECTADY — The Daily Gazette Co. has welcomed a new member to its board of directors.
Raimundo C. Archibold Jr. is a finance industry veteran. Since 2010, he has worked for Schwartz Heslin Group, a Latham firm that provides financial and strategic guidance to corporate clients. He is currently the firm’s managing director.
Previously, Archibold worked for JP Morgan, Kaufman Brothers and Fox-Pitt Kelton in a variety of roles, many of which had the technology sector as their common theme.
He was born in New York City and lived much of his adult life there after spending his teen years in New Jersey and earning a bachelor’s degree from the University of Dayton. He also holds an MBA from Pace University. The 59-year-old father of two now lives in Clifton Park. His son and daughter are both Ballston Spa High School graduates. After graduation from college recently, they returned to New York City, where they grew up.
Archibold said his background in finance, technology and media will serve The Daily Gazette, a media company using technology to expand its reach in the digital world. Likewise, he’s interested in being part of The Daily Gazette because it fits with his expertise. But also, he said, it occupies a strong niche with potential for growth: the hyperlocal news source.
With his career in finance, Archibold (a digital subscriber to The Daily Gazette) is also aware of the financial challenges facing newspapers as they transition to the digital age, and wants to help the Schenectady-based paper over those hurdles. This will need to be accomplished by increasing both the sources and size of revenue for the company, he said.
“You cannot cut costs to prosperity,” he explained.
The newspaper’s key traditional sources of revenue — sale of the paper to readers and sale of space inside it to advertisers — remain important, Archibold said.
“For local advertisers, I think it’s still one of the most effective ways to reach local [customers],” he said.
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Categories: Business, News, Schenectady County
