Latest News by Industry
WASHINGTON--(BUSINESS WIRE)--Dec 2, 2022--
Today, Southern Communities Initiative (SCI) announced the appointment of Mambu Sherman as the organization’s Executive Director.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221202005075/en/
Mambu Sherman, Executive Director of Southern Communities Initiative (Photo: Business Wire)
In this role, Mambu will work with key partners to oversee the expansion of Southern Communities Initiatives in the six southern cities home to more than 50% of all Black Americans. Mambu will lead SCI’s efforts to close the racial wealth gap by concentrating and directing investment resources in local initiatives, amplifying high-impact community organizations and initiatives, and working across the racial equity ecosystem to break down silos and establish new partnerships with other companies that share similar corporate responsibility goals.
“Mambu has a wealth of experience in building transformative relationships and partnerships between local community leaders, corporations and government agencies,” said Robert F. Smith, Co-Founder of SCI and Founder, Chairman, and CEO of Vista Equity Partners. “Under his leadership, I am optimistic that SCI will continue to forge bonds between local advocates and businesses that will allow them to strategically deploy both capital and in-kind support to redress centuries of neglect. I look forward to the thoughtful perspectives and dedication to racial justice he will bring to this organization.”
“Having led community impact initiatives across nonprofit, corporate, and public agencies, I have seen at every level the inefficiencies across sectors and the challenges companies face to create new solutions to social problems,” said Mambu Sherman, Executive Director of Southern Communities Initiative. "I have dedicated my career to identifying innovative approaches that help build inclusive and thriving communities, particularly for those with the most acute lack of resources. Through this lens and utilizing proven scalable solutions, I look forward to building on the incredible work the Southern Communities Initiative has established."
“Mambu understands the real value of forging lasting relationships among like-minded partners and mission-aligned organizations,” said Justin Dean, Managing Director and Senior Partner at Boston Consulting Group. “Over his career, Mambu has consistently demonstrated his commitment to racial and social justice, and I know that he will bring that same intensity to this role.”
“SCI brings together communities with the private sector and builds upon corporate capital commitments to address the systemic inequalities underlying the racial wealth gap,” said Dan Schulman, President and CEO of PayPal. “Our experience demonstrates that the strategic deployment of capital to on-the-ground organizers has catalytic impact. Mambu will play an instrumental role in scaling corporate racial equity initiatives. I am excited about the expertise and dedication that Mambu will bring to the mission of SCI to drive transformational change.”
Mambu is a proud Historic Black College and University alum, having received his bachelor’s degree from Savannah State University and his master’s from New York University’s Stern School of Business. Mambu brings 13 years of experience leading missions in corporate social responsibility, impact investing, and building and scaling impact-driven initiatives that promote economic justice and inclusive growth.
Prior to joining SCI, Sherman served as Vice President of Global Philanthropy at JPMorgan Chase & Co., where he directed the bank’s philanthropy strategy in key Midwestern markets in order to advance racial equity across the region. He also worked as a Senior Innovation Manager at Chicago Beyond. In this philanthropic venture capital fund, Sherman developed the company’s investment strategy and innovation initiatives focused on impacting youth and communities across Chicago. He has also worked as the City Director for Boy With A Ball Global, Inc., a multinational nonprofit where he led the organization's expansion into Atlanta-based markets to organize youth and community development programs.
About Southern Communities Initiative
The Southern Communities Initiative (SCI) was launched in April 2021 by Vista Equity Partners, Boston Consulting Group, and PayPal, to accelerate the deployment of corporate resources into the six southern communities that are home to more than 50% of all African Americans: Atlanta, GA; Birmingham, AL; Charlotte, NC; Houston, TX, Memphis, TN; and New Orleans, LA. SCI is an open-source blueprint for advancing racial equity that compiles ideas from local organizations that are embedded within their communities, which are then refined by leading national experts on banking, broadband, education, and other pressing needs. These ideas are then presented as available actions that corporations can take to address inequities, in ways that are locally sustainable and can quickly generate impact across traditional siloes.
The Southern Communities Initiative’s priorities include Wealth Creation – supporting Black-owned business growth and access to capital by helping fund and modernize community development financial institutions (CDFIs); MBE/Supplier Diversity – increasing the volume and value of Black owned businesses; Education/HBCU Workforce – working with historically Black colleges and universities (HBCUs) to increase pathways to employment and training for students; and Digital Access – supporting digital access by increasing the accessibility, affordability and adoption of high speed internet in communities.
View source version on businesswire.com:https://www.businesswire.com/news/home/20221202005075/en/
CONTACT: Dafna Tapiero
dtapiero@laurelstrategies.com
202-776-7776
KEYWORD: ALABAMA NORTH CAROLINA GEORGIA TEXAS TENNESSEE DISTRICT OF COLUMBIA LOUISIANA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES PHILANTHROPY DEI (DIVERSITY, EQUITY AND INCLUSION) BUSINESS OTHER PROFESSIONAL SERVICES FOUNDATION
SOURCE: Southern Communities Initiative
Copyright Business Wire 2022.
PUB: 12/02/2022 08:00 AM/DISC: 12/02/2022 08:02 AM
http://www.businesswire.com/news/home/20221202005075/en