Microfinance investment specialist names new boss

Lisa Hall is the new chief executive of Calvert Foundation; ‘at the intersection of capitals markets and economic justice’

Jan 7, 2011 @ 12:26 pm

By Jeff Benjamin

The Calvert Foundation, a non-profit organization that offers low-yielding investments in the microfinance lending space, has appointed Lisa Hall as its new president and chief executive.

Ms. Hall, who joined the foundation as chief lending officer in 2005, fills a vacancy created in August by Shari Berenbach, who left to lead the microfinance division of the U.S. Agency of International Development.

As lending officer, Ms. Hall has increased the foundation’s lending portfolio to $190 million, from $76 million in 2005. In her new role, Ms. Hall will also be responsible for overseeing the management of a $500 million investment portfolio.

“As we went through a process of careful consideration, we concluded that the best candidate for this job came from within,” said Wayne Silby, the foundation’s co-founder and co-chairman of the board of the directors.

The Calvert Foundation, which was formed 15 years ago as an independent spinoff from Calvert Investments, raises money for organizations that make small loans designed to fight poverty both in the United States and abroad.

Individual investors commonly participate through the foundation’s community investment notes, which can be purchased for as little as $20 each and pay annual yields of between 0.5% and 2%, depending on the duration of the note.

“The community investment notes are for people who want to make a difference but not give the money away,” said foundation spokeswoman Carrie McGarry.

Corporate and institutional investors include Calvert Investments, Starbucks Corp. and Catholic Health Initiatives.

“Calvert Foundation’s mission to empower low-income communities by investing in them is one close to my heart,” Ms. Hall said. “As someone who has worked in the financial services sector for more than 25 years and who is also the daughter of a civil rights activist, I feel as though I personally sit, just as Calvert Foundation sits, uniquely at the intersection of capital markets and economic justice.”

Calvert Foundation is considered a pioneer among organizations that gather funds to be used for microfinance lending. The foundation currently has more than 7,000 investors.

About sixty percent of the loans generated by Calvert Foundation investments go to domestic recipients. The rest of the money goes to borrowers overseas.

0
Comments

What do you think?

View comments

Recommended for you

Featured video

INTV

Women's retirement needs and the opportunity they present for advisers

Assistant managing editor Lorie Konish speaks with contributing editor Mary Beth Franklin about the unique planning considerations for women as they prepare for income needs later in life.

Latest news & opinion

Big gains attract new money to emerging markets, but should investors stay?

An estimated $6.7 billion has flowed into emerging-market stock funds and ETFs so far this year, according to Morningstar.

Attorney blasts Finra after regulator loses insider trading case

Lawyer says it was 'slimy' of Finra to publicize the case while it was still being litigated.

Will Jeffrey Gundlach's Trump-like approach on Twitter work in financial services?

The DoubleLine CEO's attacks on Wall Street Journal reporters is igniting a discussion on what's fair game on social media.

Fidelity wins arb case against wine mogul but earns a rebuke from Finra

In the case of investor Peter Deutsch, Fidelity doesn't have to pay any compensation, but regulator said firm put its interests ahead of his.

Plaintiffs win in Tibble vs. Edison 401(k) fee case

After a decade of activity around the lawsuit, including a hearing before the U.S. Supreme Court, judge rules a prudent fiduciary would have invested in institutional shares.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print