CFED

Stay Informed!

Press Releases

Contact: Kristin Lawton, 202-207-0137

May 17, 2017

Asheesh Advani Elected Chairman of CFED Board of Directors

FOR IMMEDIATE RELEASE

Contact: Amy Saltzman, 301-656-0348; Kristin Lawton, 202-207-0137

Washington, D.C. - Asheesh Advani, the CEO of JA (Junior Achievement) Worldwide, today was elected chairman of the Board of Directors of the Corporation for Enterprise Development (CFED).

Advani has served the past three years as the Board's vice chair. He will succeed Brandee McHale, who is stepping down after two years as chairperson but who will remain on the Board. McHale is the president of the Citi Foundation.

The 45-year-old Advani was elevated to the top post on a unanimous vote of the 18-member Board. CFED is a private nonprofit organization with the mission of building assets and expanding economic opportunity for low-income people and disadvantaged communities through matched savings, entrepreneurship and affordable housing.

"Asheesh Advani is an accomplished business and social entrepreneur with a deep commitment to economic justice," said CFED President Andrea Levere. "As his work with JA Worldwide demonstrates, he is an inspiring leader who has been a much-valued member of our Board for many years. We are so fortunate that he is stepping into this expanded role for our organization."

JA Worldwide is a global Non-Governmental Organization dedicated to educating young people about entrepreneurship, financial literacy and workforce readiness. Founded in 1919, the organization has grown to serve more than 10 million students every year in more than 100 countries around the globe.

"I'm honored to lead the CFED board and further serve the organization's mission of creating economic opportunity and prosperity for the poor," said Advani. "Having spent my career at the intersection of entrepreneurship, finance and social change, I'm passionate about CFED's practical solutions for financial security and economic empowerment."

Advani assumed his post at JA Worldwide in 2015 after pursuing a range of entrepreneurial interests in the technology and financial services sectors. An alum of JA himself, Advani was the founder and CEO of CircleLending, a social lending company acquired by Richard Branson's Virgin Group, and later became the CEO of Covestor, an online consumer marketplace providing access to investment managers that was acquired by Interactive Brokers.

Advani helped pioneer the business of managing peer-to-peer loans within social networks by working with regulators and credit bureaus to develop lending guidelines. Recently, he contributed a chapter to "What It's Worth," a book project of CFED and the Federal Reserve Bank of San Francisco, and penned an article on reducing poverty published on the World Economic Forum blog.

Advani is a graduate of the Wharton School and Oxford University, where he was a Commonwealth Scholar.

###

CFED's work makes it possible for millions of people to achieve financial security and contribute to an opportunity economy. We scale innovative practical solutions that empower low- and moderate-income people to build wealth. We drive responsive policy change at all levels of government. We support the efforts of community leaders across the country to advance economic opportunity for all. Established in 1979 as the Corporation for Enterprise Development, CFED works nationally and internationally through its offices in Washington, D.C.; Durham, North Carolina, and San Francisco, California.

Copyright © 2017 CFED Corporation for Enterprise Development 1200 G Street, NW Suite 400 Washington, DC 20005 202.408.9788

Powered by ARCOS