Brian Shuman has stepped into the role of president of Mercy Housing, Inc., taking over for Dick Banks, who retired after three years with the organization.

Shuman joined Mercy Housing in 2007, with more than 20 years of experience in financial services, including seven in the affordable real estate industry. He became COO in May 2008 and was responsible for the day-to-day operations.

Banks led the company's transformation efforts and, more recently, had a strategic role in leading Mercy Housing to focus on the measurement of the organization's social impact, social capital market penetration, and involvement in national foreclosure issues.

"I will truly miss Dick and his passion to create and lead new initiatives, such as launching the National Lending and Development Consulting effort and providing leadership to the work of the newly established Mercy Portfolio Services," said Sister Lillian Murpy, CEO of the nonprofit company, in a statement.