Four New Members Join Calvert Foundation’s Board of Directors

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Calvert Foundation welcomes four new members to their Board of Directors this year. Calvert Foundation is an impact investing institution that invests in underserved communities around the world.

We’re thrilled to be welcoming a new generation of members to our board and the Calvert Foundation community.

Calvert Foundation welcomes four new members to their Board of Directors this year. Calvert Foundation is an impact investing institution that invests in underserved communities around the world. On September 12, 2016 the board nominated and approved two new members to join: Phil Kirshman, Chief Investment Officer, Cornerstone Capital Investment Management and Jaime Yordan, former Vice-Chairman of Citigroup. Earlier this year the board also nominated and approved two additional members, Decker Rolph, an early-stage business and finance executive and investor, and Aron Betru, Managing Director of the Center for Financial Markets at the Milken Institute. This brings the board to a total of 10 members.

“We’re thrilled to be welcoming a new generation of members to our board and the Calvert Foundation community. Phil, Jaime, Aron and Decker all join us with expertise in finance and a passion for social good. Bringing together longstanding and new members, our board is better poised to grow Calvert Foundation to the next level as leaders in the impact investing space.”
-Bart Harvey, Chairman of the Board of Directors, Calvert Foundation

Two board members have departed over this time. Shari Berenbach, a former CEO of the Calvert Foundation and recent President and CEO of the U.S. Africa Development Foundation, tragically passed away earlier this year, a great loss to both Calvert Foundation and the greater impact investing community. Peggy Clark, one of the founding board members of Calvert Foundation, resigned as of September 12, 2016 and is being honored as a Director Emerita. Peggy will continue to be a close friend and resource to Calvert Foundation with her expertise and long-standing relationship with the organization.

“I applaud Calvert Foundation’s new generation of board members who join the organization at a pivotal and promising moment. I am honored to be among the dreamers who helped to establish the organization, and to have watched its powerful impact over the years on so many individuals and communities. I am delighted to be able to continue to support the Calvert Foundation as an emeritus board member.”
-Peggy Clark, Director Emerita

Phil Kirshman
Phil Kirshman is the Chief Investment Officer at Cornerstone Capital Investment Management (CCIM). He oversees investment policy planning, strategic asset allocation optimization, investment implementation and portfolio reporting strategies. He serves on Cornerstone’s Executive Committee and Investment Policy Committee. Prior to joining Cornerstone, Mr. Kirshman was a senior partner on a UBS Institutional Consulting team based in Boulder, Colorado, serving clients across the United States. Mr. Kirshman is a Chartered Financial Analyst and a Certified Financial Planner.

Mr. Kirshman serves on the board and is Treasurer of US SIF: The Forum for Sustainable and Responsible Investment, and is Treasurer of the US SIF Foundation. He also serves on the Advisory Council to the City of Denver Office of Sustainability, and chairs the Advisory Council to Mile High Connects, a public-private partnership supporting development of transit-oriented real estate development in the city of Denver. Mr. Kirshman graduated from the University of California, Santa Cruz, in 1986.

Jaime Yordan
Jaime E. Yordan served as an Executive officer of JPMorgan Chase & Co. before becoming Managing Director and General Partner at The Goldman Sachs Group, Inc. in 1992, after joining in 1990. He established and ran Goldman Sachs’ Latin American business. Mr. Yordan served with Goldman Sachs until 2005 as a senior partner of the firm. He left Goldman to become Vice-Chairman of Global Banking of Latin America Markets & Banking at Citigroup Inc. until January 29, 2008. He served for over a decade as a Board Member of Enterprise Community Partners and Chairman of Enterprise Community Investment. He is currently an Advisory Director at CDK Group LLC. He has a distinguished 30-year career in Latin America and has served on numerous Boards.

Decker Rolph
Decker Rolph’s professional experience to date has been in early-stage businesses, venture finance, private equity, and specialty finance. Importantly, impact and TBL (triple bottom line) principles have ebbed and flowed throughout his career, but nonetheless have comprised a true north and the lens through which he views business. With over 15 years of experience, he has gained the ability to successfully navigate the challenges faced by start-ups as well as emerging companies, brands, and funds.

Aron Betru
Aron Betru is the Managing Director of the Center for Financial Markets (CFM) at the Milken Institute, with more than 15 years of experience in strategic and structured financial execution. Mr. Betru will be leading strategic initiatives at CFM, where he will be exploring practical ways and models to increase and better leverage resources to social impact areas, both in the U.S. and in developing countries.

Prior to the Milken Institute, Mr. Betru was the Co-Founder and Chief Executive Officer at Financing For Development (F4D), a DC-based nonprofit that specializes in innovative financing solutions for international development. Mr. Betru pioneered new ways of leveraging guarantee-backed financing of public health commodities, mobilizing millions of dollars in both commercial lending for malaria and trade financing for reproductive health.

Prior to joining Pledge Guarantee for Health, during its proof-of-concept at the United Nations Foundation and facilitating its spin-off to F4D, Mr. Betru was Deputy Director of the TechnoServe managed Coffee Initiative program, funded by the Bill & Melinda Gates Foundation. Mr. Betru oversaw the design, development and execution of increased access to capital programs for small holder farmers in East Africa. Mr. Betru’s extensive experience includes international development roles at Dalberg Global Development Advisors as well as private sector experience at McKinsey & Co. and Goldman Sachs.

Mr. Betru is a member of the Council on Foreign Relations and a regular contributor to the Global Health and Diplomacy Magazine writing on innovative finance in public health. He is also a contributor to the global dialogue on pandemic financing with speaking engagements at the National Academy of Sciences and Voice of America Interviews. He holds an MBA from Columbia University, an MA from Johns Hopkins SAIS, and a BA in Economics and International Studies from Northwestern University.

About Calvert Foundation
Calvert Foundation is a global impact investing institution that offers investors an accessible way to invest for social and environmental good. More than 15,000 investors have invested a total of $1.2 billion through Calvert Foundation since 1995, supporting affordable housing, education, health, job creation, access to capital and climate solutions. Calvert Foundation is a legal separate entity from Calvert Investments and has its own operations and mission.

For more information please contact:
Katharine Tengtio
Calvert Foundation
Katharine(dot)tengtio(at)calvertfoundation(dot)org
Tel: +1 301 280 6014

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Andrew Parrucci
@calvert_fdn
since: 10/2009
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