CharterMac names Marc Schnitzer CEO.CharterMac announced that the Company's Board of Trustees board of trustees Politics The posse of thugs who oversee an institution's administration. See Board of directors. has named Marc D. Schnitzer the Chief Executive Officer, effective immediately. Schnitzer, who has been the President of CharterMac since 2003, is also a managing trustee of the Company. "Marc has been an exceptional leader during his tenure as President of the Company," said Stephen M. Ross For other persons named Stephen Ross, see Stephen Ross (disambiguation). New York City-based real estate developer Stephen M. Ross is founder, chairman and CEO of The Related Companies, L.P. , Chairman of CharterMac. "His strategic vision for CharterMac, combined with his operational and management skills, make Marc a strong and unifying force within our organization. He is a recognized and highly regarded figure within the real estate finance industry. "Our belief that Marc was the best candidate to lead CharterMac was further verified by the search process conducted by a special committee of our Board of Trustees, which concluded that Marc was the clear choice for Chief Executive Officer of our company." Schnitzer will replace Ross, who has served as interim Chief Executive Officer since November, 2005. Mr. Ross will continue to serve as the Chairman of CharterMac. Schnitzer, 45, joined CharterMac's predecessor in 1986. Over the past 20 years, Mr. Schnitzer has built the company's fund management division into the nation's preeminent sponsor of tax credit investment funds Noun 1. investment funds - money that is invested with an expectation of profit investment assets - anything of material value or usefulness that is owned by a person or company . During his tenure, the Company raised more than $7 billion in equity from Fortune 500 companies for investment in tax credit properties. Mr. Schnitzer is a frequent speaker at industry conferences sponsored by the National Council of State Housing Agencies, the National Housing and Rehabilitation Association and the National Association of Homebuilders This article or section needs sources or references that appear in reliable, third-party publications. Alone, primary sources and sources affiliated with the subject of this article are not sufficient for an accurate encyclopedia article. . He is a member of the Executive Committee of the Board of Directors of the National Multi Housing Council and a Vice President and member of the Executive Committee of the Affordable Housing Tax Credit Coalition. Schnitzer received his Master of Business Administration degree from The Wharton School of The University of Pennsylvania The Wharton School is the business school of University of Pennsylvania in Philadelphia, Pennsylvania. It was established in 1881 through a donation of Joseph Wharton, making it the world’s oldest business school. and his Bachelor of Science Noun 1. Bachelor of Science - a bachelor's degree in science BS, SB bachelor's degree, baccalaureate - an academic degree conferred on someone who has successfully completed undergraduate studies degree in business administration, summa cum laude sum·ma cum lau·de adv. & adj. With the greatest honor. Used to express the highest academic distinction: graduated summa cum laude; a summa cum laude graduate. , from the Boston University School of Management The BU School of Management enrolls 1,748 undergraduate students, 364 Full-time, 406 Part-time, 61 Executive MBA, and 50 DBA students.[1] Rafik B. Hariri Building Located at 595 Commonwealth Avenue, The Rafik B. . CharterMac, through its subsidiaries, is one of the nation's leading full-service real estate finance companies, with a strong core focus on the multifamily industry. CharterMac offers capital solutions to developers and owners of multifamily rental housing throughout the country and quality investment products to institutional and retail investors. |
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