Shank named to Kresge Foundation Board of Trustees

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The Kresge Foundation, an organization that invests more than $160 million annually to foster economic and social change, has chosen investment banker Suzanne Shank and professor Michael Barr to serve on its Board of Trustees, the foundation said Monday.

Shank is CEO of Siebert Williams Shank & Co. and president and largest equity owner of its parent company, Shank Williams Cisneros & Co. She has overseen the growth of her business from a startup in 1996 to the largest minority- and women-owned investment banking firm in the country.

Suzanne Shank, CEO of Siebert Williams Shank & Co.

Barr is the Joan and Sanford Weill Dean of the Gerald R. Ford School of Public Policy, the Frank Murphy Collegiate Professor of Public Policy and the Roy and Jean Humphrey Proffitt Professor of Law at University of Michigan Law School. Barr also is a former assistant secretary of the Treasury in the Obama Administration and was a key architect of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.

“Suzanne and Michael are extraordinary additions to our Board of Trustees,” said Elaine Rosen, the foundation's board chair. “Their individual expertise in finance and banking and combined community development leadership — specifically in low-income communities —
will further bolster the foundation’s efforts to expand opportunity for people living in America’s cities.”

Following their four-year terms, Shank and Barr’s trustee appointments may be extended up to a maximum of 16 years. The search process was led by Cynthia Kresge, a trustee and the great-granddaughter of founder Sebastian S. Kresge.

The Kresge Foundation in Troy, Mich., was founded in 1924 to promote human progress. It fulfills its mission by building and strengthening pathways to opportunity for low-income people in America’s cities, seeking to dismantle structural and systemic barriers to equality and justice. Using a full array of grant, loan, and other investment tools, Kresge invests more than $160 million annually to foster economic and social change.

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