Marcus Shaw named CEO of ALT Finance Corporation
Today, Shaw will launch the app for the AltFinance Stock Exchange program at Atlanta Clark University, Howard University, Morehouse College and Spelman College. The program was developed in conjunction with the four HBCUs, Management Leadership for Tomorrow (MLT), a national nonprofit organization working to transform our country’s leadership pipelines and close the racial wealth gap, and representatives from Apollo Global Management, Ares Management and Oaktree Capital Management. . The AltFinance scholarship will introduce students to investment and operations, and tap into their entrepreneurial spirit, key elements for a career in the alternative investment industry. The scholarship is open to sophomores and juniors from all four HBCUs and will provide one-on-one coaching, career roadmap, personalized curriculum, workshops and networking/relationship building, engagement with companies in alternative investment and scholarships to ease the financial burden on students. Shaw will continue to build and implement the program as it prepares to welcome its first eligible class in spring 2022.
As CEO, he will also work with the Wharton School of the University of Pennsylvania create and launch a virtual institute. The virtual institute will be launched in 2022.
“AltFinance is uniquely committed to creating and expanding pathways for Black HBCU students into alternative investment management careers. We believe there is no one better placed to lead our efforts than Marcus, who brings over twenty years of financial and non-profit experience.” mentioned Trey Pruit, Chairman of the Board of Directors of ALTFinance. “On behalf of the Board of Directors, I welcome Marcus to AltFinance and look forward to working together to foster greater diversity in the alternatives industry.”
Shaw has spent more than 20 years as an executive in the financial industry with positions at Height Analytics, Piedmont Investor Advisors and Banc of America Securities. Most recently, he served as Managing Director of The Company Lab, a non-profit startup accelerator supporting entrepreneurial growth in the Southeast. Tennessee. Shaw has also led programs dedicated to innovation, equity, and young professional development at Montgomery TechLab and MLT.
“HBCUs are a valuable, yet often overlooked part of the global talent landscape. As alternative investments become a bigger part of the economy, we are excited to partner with leading companies to ensure that students of HBCU are exposed to career paths and positioned to succeed in the industry,” Shaw said.
Shaw received his MBA from duke universitya BS in Mathematics from Morehouse College and another in electrical engineering from Georgia Tech.
The selection comes after extensive research by The Diversified Search Group.
For more information about AltFinance, please visit AltFinance.com
AltFinance: Investing in black futures is a 10-year contract, $90 million initiative created by Apollo Global Management, Inc. (NYSE: APO), Ares Management Corporation (NYSE: ARES) and Oaktree Capital Management, LP to help diversify the financial services industry. The AltFinance initiative will be administered by ALT Finance Corporation, a not-for-profit organization created by the three founding companies. The initiative aims to provide clear pathways for students from partnering Historically Black Universities and Colleges (HBCUs) to careers in the alternative investment industry. The program provides access to education, training, mentoring, scholarship funding, internships and full-time career opportunities. The scholarship program will be managed in collaboration with Management Leadership for Tomorrow (MLT). The Wharton School of University of Pennsylvania will be the exclusive academic partner and will create a virtual institute.