COLUMBIA, MD. —Terri L. Ludwig has been appointed president and CEO of Enterprise Community Partners, Inc.She will step into the top post Jan. 1, 2011.
Ludwig has been with Enterprise for the past year, serving as executive vice president and COO.
She will replace Doris W. Koo, who will remain a senior adviser at Enterprise. When Koo became CEO in 2007, she indicated her intention to serve in the role for three to five years in order to return to Seattle to be closer to her family, according to Enterprise.
Ludwig brings 25 years of investment banking and nonprofit leadership to the organization. Enterprise is a leading provider of development capital and expertise to the affordable housing industry.
“The need for affordable housing has never been greater, making Enterprise’s mission more critical than ever,” said Ludwig in a statement. “The organization is committed to working with its many partners to deliver capital and solutions, advance the policy agenda of the affordable housing and community development sector, and ultimately help people transform their lives with an affordable home as the cornerstone of success.”
From 2002 to 2009, she served as president of the Merrill Lynch Community Development Co., where she led community development, committed more than $2 billion in loans and investments, and launched a successful social investment platform for Merrill Lynch’s private clients.
Prior to Merrill Lynch, Ludwig was president and CEO of ACCION New York, the largest nonprofit micro-lender in the United States, whose mission is to lend small business owners the capital and support they need to achieve success. Following the Sept. 11 tragedy, Ludwig mobilized a team to establish the American Dream Fund, a disaster relief fund delivering loans and technical assistance to small business owners who lost their livelihoods in the disaster.
Prior to her work at ACCION, Ludwig launched an international sales effort for Global Foreign Exchange at Credit Suisse First Boston with offices in London, New York, and Hong Kong.
Ludwig is an appointee to the Treasury Department’s Advisory Board for Community Development and Financial Institutions and the co-chair of the board of ACCION USA. She serves on numerous executive and advisory boards and was selected for the Social Innovation Fellowship for Nonprofit Leaders at the Stanford Graduate School of Business and the David Rockefeller Fellows Program.
A native of Mount Vernon, Ill., Ludwig holds a bachelor’s degree from the University of Illinois at Urbana-Champaign, and a master’s degree from Harvard University’s John F. Kennedy School of Government. She is married and has two children.
