Bolivian immigrant Marcelo Claure stepped into his new job running Sprint, the No. 3 wireless carrier in the United States last week. 

In an interview with NBC News, Javier Palomarez, president and CEO of the U.S. Hispanic Chamber of Commerce, talked about the implications of Claure’s hiring for Latinos.

“If you look at the Hispanic community’s use of mobile technology and cellular services, we over index when compared to every other demographic ... So here’s this burgeoning market, $1.4 trillions worth of purchasing power ... Suffice it to say, you’ve got this amazing market that skews younger by 10 years, that’s growing in terms of earning power and purchasing power at a rate twice what the general market is growing ... So while the rest of the market is graying, this market is coming into its own and you have at the helm at the third largest telecomm company in the country a Latino who understands that dynamic."

Claure built telecommunications company Brightstar, which saw sales of $6.3 billion last year, and was valued at about $2.2 billion. He sold the business just before being tapped by its buyer, SoftBank, to head Sprint.