Robin Hood Basis picks Goldman Sachs government Dina Powell McCormick as new chair

Goldman Sachs government Dina Powell McCormick has been named chair of the Robin Hood Basis, a nonprofit backed by Wall Road executives and different enterprise leaders that goals to fight poverty.

McCormick, who was the group’s vice chair, was elevated by the board to chair on Wednesday, the muse introduced in a press release. Former Chairman, John Griffin, founding father of Blue Ridge Capital, will stay on the board.

“For 35 years, Robin Hood has been combating to raise New Yorkers out of poverty. Being elected chair by her friends is a strong recognition of Dina’s historical past of service, management, and dedication to our mission,” Robin Hood CEO Richard R. Buery, Jr. mentioned in a press release. “She leaned into our response to Covid-19 by supporting the work of the Robin Hood Reduction Fund that raised greater than $80 million over 18 months and performed a pivotal function within the creation and launch of Robin Hood’s fairness centered, initiative supporting nonprofit leaders of shade, The Energy Fund.”

McCormick is Goldman’s world head of sustainability and inclusive development. She’s additionally the worldwide head of the agency’s sovereign enterprise. She’s served in each former presidents George W. Bush and Donald Trump’s administrations.

Different titans of business which can be listed on the poverty combating basis’s board embrace Mike Novogratz, the CEO of cryptocurrency funding agency Galaxy Digital, David Solomon, the CEO of Goldman Sachs, Jeff Blau, the CEO of Associated Firms and Mary Callahan Erdoes, the CEO of JPMorgan Asset & Wealth Administration.

The muse’s vote to make McCormick its chair comes after the group has seen a change inside their C-suite. Richard Buery, Jr. turned Robin Hood’s CEO in June 2021 after Wes Moore departed and later introduced a marketing campaign to be Maryland’s subsequent governor. The newest polling in that race reveals Moore forward of his Republican opponent Dan Cox by at the very least 22 factors.

McCormick will assume her new function in February.

The Robin Hood Basis has donated greater than $3 billion over the past three a long time to teams that battle poverty, making it one of many extra influential and effectively financed nonprofits within the nation, based on its web site. Tens of millions went to teams final 12 months corresponding to Acumen, Charles B. Wang Group Well being Heart, Youngsters’s Help and the Fund for Public Well being in New York.