CEO of the Millennium Challenge Corporation: Who Is Daniel Yohannes?

Saturday, December 26, 2009

An Ethiopian immigrant who came to the United States at the age of seventeen with $150 in his pocket, Daniel W. Yohannes worked his way through school, became a wealthy bank executive. and was sworn in as the CEO of the Millennium Challenge Corporation (MCC) December 8, 2009. MCC was conceived in the wake of the 9/11 attacks as a means of combating terrorism through poverty alleviation - or, more accurately, through economic development in poor countries where instability could pose a threat to U.S. interests.  MCC is a government corporation, with a Board of Directors chaired by the Secretary of State and including representatives of key federal agencies (Treasury, Trade, USAID) in the US foreign policy diorama. The CEO serves on the Board and runs MCC’s operations. 

 
Born in Ethiopia in September 1952, Daniel W. Yohannes emigrated to the U.S. as an exchange student circa 1970. Working to support himself while in school, Yohannes earned a B.S. in Economics from Claremont McKenna College in 1976 and an M.B.A. from Pepperdine University in 1980. In subsequent years, he put each of his seven siblings through college in the United States. 
 
Yohannes began his banking career in 1977 as a teller at Security Pacific National Bank, where he eventually held a number of leadership roles. In 1992, when Bank of America took over Security Pacific, Yohannes relocated to Denver to work for First Bank System, which named him President of Colorado National Bank (CNB), which First Bank had recently acquired. Early on, he oversaw the integration of CNB with two other recently acquired banks, an operation opposed by community activists critical of what they considered a lack of minority lending. Yohannes improved the bank’s record in that area, and under his tenure CNB became an active supporter of foundations and nonprofits. Yohannes was President of CNB from 1992 to 1999, and grew the bank from $2 billion to $9 billion in assets. In 1998, when U.S. Bancorp acquired First Bank, CNB became known as U.S. Bank and Yohannes became CEO of U.S. Bank’s Colorado Division. Eventually he also worked as Vice Chairman of U.S. Bank for the Commercial Banking Group, Consumer Banking Group and as Head of Integration for Community and Public Affairs.  In February 2003, Yohannes resigned from U.S. Bank, explaining that, having recently turned 50, it was “time to do something different.”
 
Yohannes soon became President and CEO of M&R Investments, LLC, a privately-held investment firm specializing in real estate, financial institutions and the green energy sector. In September 2006, he co-founded and became chairman of the board of the New Resource Bank in San Francisco, which finances options for green businesses in addition to traditional banking. 
 
Yohannes is on the Board of the National Jewish Hospital and Research Center, the Denver Art Museum (where he established the Daniel Yohannes Family African Gallery), the University of Colorado Medical School, University of Colorado at Denver Business School, and Project C.U.R.E., which provides medical supplies to 110 countries. Yohannes has been active in Denver civic affairs. In March 2006, he was appointed by Denver Mayor John Hickenlooper to serve on a “Financial Management Task Force,” and in July of the same year, the Mayor also appointed Yohannes to serve as co-chair of the city’s new Greenprint Council, which is in charge of overseeing the city’s sustainability plan. 
 
Yohannes is married to Saron Yohannes, with whom he has three children. On November 16, 2004, Yohannes, a Catholic, reported to his parish priest that he had seen the image of Jesus on a banner hanging in his Denver church, St. Mary’s Anglican Catholic Church
 
A Democrat, Yohannes co-chaired the transition team of incoming Colorado Democratic Governor Bill Ritter in 2006. Since 1995, Yohannes has made political donations totaling $72,550; $67,750 to Democratic candidates and organizations, and $4,800 to Republican candidates. 
- Matt Bewig
 
Bank Exec in His Prime (by Aldo Svaldi, Denver Post)

Comments

Tsehaye denver 14 years ago
We are proud of your achievement, more habesha youth need to follow your example in breaking through the american system. Well done brother and wait to hear more achievement in your new position.

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