Smith, who serves as EVP and chief risk officer at Morgan Stanley, joins a 20-member LISC board comprised of some of the nation’s top financial and community leaders. “Charles brings a tremendous range of financial experience to our board and will be a strong voice for strategies that drive creative, financially sound, high-impact community development investments,” said LISC CEO Lisa Glover.
NEW YORK (June 20, 2023)—The Local Initiatives Support Corporation (LISC) has elected Charles A. Smith, executive vice president and chief risk officer at Morgan Stanley, to its board of directors. The LISC board guides the organization’s national strategy around equity and opportunity, including billions of dollars in programs and investments to fuel affordable housing, economic development, health, safety and quality jobs.
Smith previously served as managing director and head of business development for Morgan Stanley’s Institutional Securities Group (ISG). He has also held a variety of other management positions over his more than 26 years with the firm, including chief financial officer of ISG, president of Morgan Stanley Bank, N.A. and Morgan Stanley Private Bank, N.A., and head of firm strategy and execution. Earlier, he was managing director in the firm’s Investment Banking Division, working in the Mergers and Acquisitions Department.
Charles A. Smith, Execucitive Vice President and Chief Risk Officer, Morgan Stanley
“Charles brings a tremendous range of financial experience to our board and will be a strong voice for strategies that drive creative, financially sound, high-impact community development investments,” said Lisa Glover, LISC CEO, citing LISC’s more than $2.8 billion in 2022 investments as example.
“That insight is critical right now, as economic challenges threaten the well-being of low- and moderate-income families, as well as the future of critical community development projects,” she continued. “Charles’ expertise will be invaluable as we address those concerns, while we also continue our work to bridge racial gaps in health, wealth and opportunity.”
Smith received his MBA from the Wharton School of the University of Pennsylvania and his BBA from Southern Methodist University.
“It is incredibly gratifying to be able to work on issues that affect the social and economic outlook for the entire country—with a particular focus people and places that have not had sufficient access to opportunities,” Smith said. “LISC is leading the way on many of those questions, and I’m excited to help support this important work.”
The LISC board is comprised of some of the nation’s top financial and community leaders. Led by former Treasury Secretary Robert Rubin, its 20 members represent investment companies, community-based nonprofits, health organizations, foundations and academia. For more on the board, visit lisc.org/about-us/board-of-directors/
About LISC
LISC is one of the country’s largest community development organizations, helping forge vibrant, resilient communities across America. We work with residents and partners to close systemic gaps in health, wealth and opportunity and advance racial equity so that people and places can thrive. Since our founding in 1979, LISC has invested $29.7 billion to create more than 489,000 affordable homes and apartments, develop 81.4 million square feet of retail, community and educational space and help tens of thousands of people find employment and improve their finances. For more, visit www.lisc.org.