April 3, 2014
Schlein will oversee 27-member board governing city’s primary economic development engine
NEW YORK— The de Blasio administration today announced the appointment of Michael Schlein as New York City Economic Development Corporation’s (NYCEDC) board chairman. An experienced financial services manager and public servant, Schlein currently serves as president and CEO of Accion, a global nonprofit dedicated to building a financially inclusive world. As chair of NYCEDC, Schlein will oversee the organization’s 27-member board of business, community, nonprofit and academic leaders that helps to guide NYCEDC’s agenda.
As the city’s primary economic development vehicle, NYCEDC leverages the city’s assets to create jobs, drive growth, and improve quality of life across the five boroughs, using diverse tools like urban planning, asset management, capital construction, and strategic investment.
“New York City is powered by one of the strongest economic engines in the world—and our administration is committed to building an economic development agenda that helps lift up every resident. Michael knows first-hand how to develop economic initiatives that serve New Yorkers in every community and neighborhood—and I’m proud to bring him on as chair of NYCEDC,” said Mayor Bill de Blasio.
“Michael Schlein has proven he has the experience and values needed to drive our Mayor’s economic agenda forward,” said Deputy Mayor Alicia Glen. “With Schlein helping to lead NYCEDC, this city has gained an expert who understands how to spur sustainable economic growth in neighborhoods across the five boroughs—and I look forward to working with him as we pursue a strong agenda that lifts up every New Yorker.”
“We are excited to have Michael’s experience and insight as we advance the Mayor’s economic development agenda to fight inequality and promote income mobility. It’s also a great benefit to welcome back an EDC alumnus—someone who truly understands the organization and the tools at our disposal to achieve these aims,” said Kyle Kimball, president of NYCEDC. “We are also deeply grateful for the leadership of Victor Ganzi, who, over 20 years of service to the board, has left a lasting positive impact on the city.”
“It is a great privilege to serve as the chairman of the New York City Economic Development Corporation’s Board of Directors. Mayor de Blasio has a clear vision for growing our city’s economy in a way that lifts everyone up—and I believe EDC will be a powerful catalyst in turning that vision into reality,” said Michael Schlein, incoming chairman of the NYCEDC Board of Directors. “I am thrilled by this challenge and opportunity, and I look forward to working with my colleagues at EDC to help increase economic mobility and opportunity for all New Yorkers.”
The Mayor directly appoints seven members to NYCEDC’s 27-member board, including the chairperson. Ten additional members are appointed by the Mayor from nominees of the borough presidents and the speaker of the City Council; each borough president nominates one member and the speaker of the City Council nominates five. Ten members are appointed by the chairperson. Schlein replaces Victor F. Ganzi, a business leader who is chairman of the board of directors of the PGA Tour, Inc., and has served on NYCEDC’s board for 20 years, including as chairman since 2009.
About Michael Schlein
Schlein brings his vast experience in both the public and private sectors to NYCEDC. As the president and CEO of Accion, Schlein helps build the next generation of top-tier microfinance institutions, create a strong industry with high standards, and accelerate start-up companies that serve the poor through impact-investing initiatives. Prior to leading Accion, Schlein served as president of Citigroup’s International Franchise Management, where he managed Citi’s network of 100 chief country officers, and oversaw Citi’s communications, philanthropy, government relations, branding and human resources.
Schlein has worked for nearly 30 years in international banking, management and public service. Prior to joining Citigroup, Schlein was chief of staff at the U.S. Securities and Exchange Commission, and served Mayors Ed Koch and David Dinkins in key economic development positions. During his time in the Dinkins administration, as chief of staff to Deputy Mayor for Finance and Economic Development Sally Hernandez Piñero, Schlein spearheaded a process that merged several city agencies and resulted in the formation of NYCEDC. He subsequently served as the Mayor’s appointee to the NYCEDC Board of Directors, until departing city government at the end of 1993.
Schlein has graduate and undergraduate degrees from the Massachusetts Institute of Technology, where he graduated Phi Beta Kappa.