CRF names Matthew Roth as next chief executive officer

Photo of Matthew Roth, CEO of CRF, USA

Community Reinvestment Fund, USA (CRF), a national, non-profit Community Development Financial Institution (CDFI) with a mission to improve lives and strengthen communities through innovative financial solutions, today announced that Matthew Roth will become the organization’s next Chief Executive Officer, effective March 1, 2023. Matt succeeds Frank Altman, CRF’s founding CEO, who announced his retirement earlier this year. Korn Ferry conducted the national search.

Matt Roth is a proven purpose- and results-driven leader with more than 30 years of experience in community development and financial services. He joins CRF after more than eight years at IFF, a Chicago-based regional CDFI, where he served most recently as President, Core Business Solutions. Leading IFF’s CDFI businesses, the loan portfolio more than doubled to over $400 million, and Matt was successful in raising the equity and debt capital required to fuel that growth. Roth holds extensive expertise in building and leading diverse teams, strategic planning and capital raising. He is passionate about working in and with communities with a history of underrepresentation, especially those that have been systemically excluded from the financial mainstream.

“Matt is a distinguished and inspirational leader,” said Reza Aghamirzadeh, Chair, CRF Board of Trustees. “His passion, commitment to social and economic justice, and broad and deep knowledge of community development finance, business strategy, and operational excellence make him an outstanding choice to lead CRF.”

“We are incredibly grateful to Frank, who pioneered the development of a secondary market for community and economic development loans when he co-founded CRF in 1988,” continued Aghamirzadeh. “His thought leadership and innovative work leave a legacy that will have a lasting impact on people and communities across the country.”

“It’s an absolute privilege to have been selected by the Board for this position. I have always held CRF in the highest regard and am excited to join such a dynamic organization dedicated to helping address some of the most pressing and complex challenges facing our nation today,” said Roth. “I am honored to succeed Frank and look forward to working closely with the CRF team, community partners, customers and supporters to build upon the tremendous impact CRF has created over its 35-year history.”

Roth has devoted his career to community development and bringing capital and resources to underinvested neighborhoods. Prior to IFF, he held leadership positions at Generations Community Bancorp and Harris Bank and worked extensively with ShoreBank Corporation. Roth currently serves on the Boards of Neighborhood Housing Services, Chicago and the Woodstock Institute. Roth holds a master’s degree from Northwestern University and a bachelor’s degree from the Ross School of Business Administration at the University of Michigan.

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