SAN FRANCISCO - Tom Lockard, a 30-year veteran of the former Stone & Youngberg, has been appointed to lead operations in California for Fundrise, a real estate start-up.
As vice president of real estate and institutional sales, Lockard will be responsible for sourcing new real estate offerings, developing institutional relationships, and advising on securities-related matters.
He will be based in the company's San Francisco office.
Fundrise, a real estate crowdfunding platform, is headquartered in Washington, D.C. with offices in New York and San Francisco. The company was founded in 2010 and was the first site to successfully crowdfund an online equity offering for a real estate property.
"We are excited to welcome Tom to the company," said Ben Miller, co-founder of Fundrise along with his brother Dan Miller. "His strong reputation and experience as an investment banker in California, combined with a strong drive for innovation and disruption, makes him the ideal choice to head up our West Coast business."
Lockard joins the company after a 30-year career at investment bank Stone & Youngberg, where he was a partner. Since 1984, Lockard has structured more than 500 municipal bond issuances representing more than $6 billion in financings.
He was most recently a managing director at Stifel Nicolaus after the sale of Stone & Youngberg to Stifel in 2011.
Lockard has served as a Trustee of the University of Pennsylvania as well as a director of Coro Northern California.
He received his bachelor's degree in international relations from Stanford University and then completed a Coro Foundation Fellowship where he earned a master's degree from Claremont Graduate University.
He later earned his master's degree in business administration from University of Pennsylvania's Wharton School.
