Boston, MA, November 19, 2012-Accion, a pioneer and leader in global microfinance and impact investing, today announced the appointment of John Fischer as its new Chief Investment Officer.
Mr. Fischer will oversee Accion’s investment vehicles, including equity investments in microfinance institutions (MFIs) made through its Gateway Fund; its Bridge Fund loan guarantees; and seed- and early- stage investments, respectively, through Accion’s Venture Lab and Frontier Investments and initiatives. All of these vehicles were created to foster Accion’s strategic goals of helping to build the next generation of top-tier MFIs, pushing the frontiers of microfinance beyond MFIs through impact investing, and helping to build a stronger industry with high standards.
“John is a pioneer in the field of impact investing – a field that has grown tremendously in the last ten years. We are thrilled to promote him to Chief Investment Officer,” said Michael Schlein, President and CEO of Accion. “His leadership, passion for our mission of building a financially inclusive world, and deep experience with both debt and equity investments make him the ideal CIO for Accion.”
Mr. Fischer has been a member of the Accion team since 2000, serving most recently as Vice President of Accion Investment Management Company, LLC, which managed Accion Investments the $50 million private, for-profit equity investment company recently acquired by Bamboo Finance. Over its 10-year life, the Accion Investments fund has returned 15.62 percent IRR to shareholders through its socially-responsible impact investments.
He went to Maumee Valley Country Day School in Maumee Ohio, Haverford College in Haverford, Pennsylvania, and received his Masters of Business Administration and Masters of International Relations from the Boston University Graduate School of Management, and currently serves on the boards of directors at several Accion investee institutions in Africa, Asia and Latin America.
About Accion
Accion is a private, nonprofit organization with the mission of building a financially inclusive world by giving people the financial tools they need to improve their lives. A world pioneer in microfinance, Accion was founded as a community development organization in 1961 and issued its first microloan in 1973 in Brazil. Over time, Accion has helped to build 63 microfinance institutions in 31 countries on four continents that are currently reaching millions of clients. In the United States, the U.S. Accion Network is the largest microfinance lending network in the country and has served tens of thousands of clients, with over $300 million in loans. For more information, visitwww.accion.org.
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Media contact:
Andrea Snyder
PR Manager, Accion
Tel. +1 617-616-1010
asnyder@accion.org
