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LISC names three new directors to board from Morgan Stanley, State Farm and U.S. Bank

16 Jul 2010

NEW YORK (July 15, 2010)-The Local Initiatives Support Corporation (LISC) has announced that Thomas Nides, Chief Operating Officer with Morgan Stanley, Lisa Glover, Senior Vice President and Director of the Community Affairs Division at U. S. Bank, and Mary Crego, Senior Vice President with State Farm, have all joined its prestigious board of directors. LISC is the leading national community development support organization, with $9.7 billion invested in the lasting revitalization of low-income communities.

Nides is a member of Morgan Stanley’s Management and Operating committees. He is involved in the day-to-day management of the firm as well as its strategy. He serves on the boards of New York Cares, the Urban Alliance Foundation, and the Securities Industry and Financial Markets Association as well as the advisory board of the National Zoo.

Glover oversees U.S. Bank’s Community Reinvestment Act efforts as well as its community and multicultural outreach and giving, environmental affairs, financial education programs and corporate citizenship work. She has been with U.S. Bank for 24 years, with broad experience in consumer lending, operations, audit and trust. She serves on the boards of Social Compact, Select Milwaukee and Chicago Neighborhood Initiatives. She is also a member of the Local Advisory Council for Milwaukee LISC.

Crego takes over the director’s seat of her State Farm colleague, Barbara Cowden, who is stepping down from the LISC board. Crego joined State Farm in 1979 as a claim representative and served in a variety of roles before being named to her current position in 2009. She is Chair of the Illinois Chamber of Commerce, and serves on the boards of Voices for Illinois Children, Council for Economic Education, and the International Advisory Board of Executive Education, Said Business School, University of Oxford. She also serves on the Board of Trustees at Illinois Wesleyan University.

“Tom, Lisa and Mary have a remarkable range of financial, investment and community experience, and they represent corporations that actively support high-impact efforts to improve the quality of life in low-income neighborhoods,” said Michael Rubinger, LISC president and CEO. “We will greatly benefit from their strategic insight as we continue to expand our Building Sustainable Communities initiative and work to transform struggling communities into good places to live, work, do business and raise families.”

Building Sustainable Communities is LISC’s innovative, comprehensive approach to neighborhood revitalization. It goes beyond the traditional project-by-project model for community development—which focuses largely on the “built” environment—and develops plans and programs that drive significant, sustainable improvements in the quality of life. LISC’s work focuses on five key areas: expanding investment in housing and other real estate; increasing family income and wealth; stimulating economic development; improving access to quality education; and supporting healthy environments and lifestyles.

Nides, Glover and Crego are joining a 22-member LISC board that includes representatives of leading foundations, community-based organizations, financial institutions and other corporations with a strong interest in community development that promotes opportunity and lasting change.

About LISC

LISC combines corporate, government and philanthropic resources to help nonprofit community development corporations revitalize distressed neighborhoods. Since 1980, LISC has raised more than $9.7 billion to build or rehab more than 271,000 affordable homes and develop 40 million square feet of retail, community and educational space nationwide. LISC support has leveraged $31.1 billion in total development activity. For more information, visit www.lisc.org.

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Article Type: Press Release