DALY CITY, Calif.--(BUSINESS WIRE)--The National Diversity Coalition (the “NDC”) announced today the appointment of Steven A. Sugarman as its Senior Advisor and Chief Counsel. Mr. Sugarman will advise the NDC on strategic, policy, and legal matters.
Faith Bautista, Chief Executive Officer of the NDC, said: “NDC’s Board and I feel blessed to welcome Steven Sugarman to our team. He has the integrity, community commitment, and experience we need to further our mission of leveling the playing field for America’s underserved, minority communities.”
Mr. Sugarman said: “I am humbled to join the National Diversity Coalition and its inspirational team led by Faith Bautista, Jin Sung, and Bob Gnaizda. Through tireless advocacy, proactive collaboration, and economic empowerment, the National Diversity Coalition strengthens low income and minority communities throughout America. I am grateful for the opportunity to serve this worthy cause.”
Jin Sung, Board Chair of the NDC, added “The Board of Directors is excited that Steven Sugarman has accepted our unanimous invitation to join the NDC. As we continue to expand our activities to include regulatory intervention, capital markets activism, and community engagement, Steven’s experience as a banker, investment manager, management consultant, and lawyer will enable us to most effectively represent the interests of our stakeholders in America’s boardrooms, committee rooms, and courtrooms.”
Ms. Bautista continued: “I have worked with Steven for years to improve the lives of underbanked and low-income residents throughout California. Together, we have encouraged other banks to join us in expanding their community development efforts to low income and minority communities that are still left out of the system. Steven is the rare CEO who finds innovative ways to help our members while ensuring his company also benefits. That is why he was the first banker to earn the National Diversity Coalition and the National Asian American Coalition’s highest honor: The Giraffe Award. The award is given to the person willing to stick their neck out for the benefit of doing the right thing for the community.”
Mr. Sugarman is a seasoned entrepreneur and financial services professional. He is the Founder and President of The Capital Corps, LLC, a California based financial institution focusing on lending to diverse homeowners and small businesses, including those with non-traditional prime credit needs. He serves as a member of the Board of Directors for Commerce Home Mortgage, a California based mortgage lending company.
Mr. Sugarman is the Founder and Chief Executive Officer of COR Securities Holdings, Inc. and a Director of its subsidiary COR Clearing, LLC, a national securities clearing company. Mr. Sugarman also is Of Counsel to the law firm Michelman & Robinson where he focuses on advising financial services companies.
Previously, Mr. Sugarman founded Banc of California, Inc. (NYSE: BANC) and its national banking subsidiary Banc of California, N.A., and served as its Chairman, Chief Executive Officer, and President. Under Mr. Sugarman’s leadership, Banc of California was recognized twice as one of Forbes Magazine’s Top Banks in America, Fortune Magazine’s Fastest Growing Companies, and as the largest independent bank in California with an Outstanding rating from the Office of the Comptroller of the Currency for Community Development. Additionally, Banc of California was recognized as the “Gold Standard” for Community Development by both the California Reinvestment Coalition and the National Diversity Coalition during Mr. Sugarman’s tenure.
Mr. Sugarman pioneered Banc of California’s extensive community-oriented financial literacy program in partnership with non-profit, community, and faith-based organizations, as well as universities throughout Southern California. In 2015, Mr. Sugarman, alongside President Bill Clinton and Mayor Antonio Villaraigosa, helped set two Guinness World Records for the world’s largest financial literacy event.
Mr. Sugarman serves on the Yale Law School Executive Committee as a Regional Representative, and he is a board member of Los Angeles Team Mentoring (LATM) where he was the recipient of the LATM Keystone Award. He received the Outstanding CEO Award from the Korean American Chamber of Commerce of Orange County. Mr. Sugarman was awarded the Giraffe Award for leadership relating to public service and community development by the National Asian American Coalition and the National Diversity Coalition.
Mr. Sugarman previously co-founded GPS Partners LLC, a $2 billion registered investment advisor and private investment fund focused on investments in public equity securities. Mr. Sugarman began his career as a management consultant at McKinsey & Company and worked at Lehman Brothers. He is the co-author of "The Forewarned Investor: Don't Get Fooled Again by Corporate Fraud," published by Career Press.
Mr. Sugarman is a graduate of the Yale Law School and Dartmouth College.
About The National Diversity Coalition
The National Diversity Coalition is a 501(c)(3) tax-exempt organization which is comprised of community organizers, faith-based leaders, nonprofit directors, and business owners working collectively for improved financial equality and empowerment for underserved groups. Together we work with corporate and government leaders to advocate for greater opportunities in homeownership, small business, and financial literacy for all people. For more information: http://www.nationaldiversitycoalition.org