Carver Bancorp Names MacKay Interim President and CEO

The board of directors of Carver Bancorp, the holding company of Carver Federal Savings Bank, unanimously appointed Craig C. MacKay interim president and CEO, effective Oct. 1.

The company previously announced that Michael T. Pugh, its current president and CEO, will depart on Sept. 30 to become the CEO of the Local Initiatives Support Coalition, a national nonprofit organization.

A national search is underway to find a permanent president and CEO to lead Carver in its ongoing mission to provide banking services and business capital to diverse urban communities throughout New York City.

“Craig is a seasoned and accomplished executive in the financial services industry. Combined with his Carver board service, he is well suited to lead the company as interim president and CEO. Craig has the full support of the Carver board,” Lewis P. Jones III, chairman of the board at Carver Bancorp, said.

MacKay has been an independent director at Carver since February 2017. He is currently a senior advisor at England & Company. He also serves as an independent director of Equitable Holdings and an independent trustee of Pioneer Funds.

Earlier in his career, MacKay headed the private finance group at Oppenheimer & Company. Before his tenure at Oppenheimer, he was head of private finance at SunTrust Robinson Humphrey.

“I’m honored to be named interim president and CEO of this historic institution, which has served the banking needs of traditionally underserved communities throughout Greater New York City for 75 years,” MacKay said. “I’ve worked closely with senior leadership and members of the Carver family and admire their collective commitment to leveling the playing field by providing comprehensive financial advice, access to capital and wealth enhancing opportunities. I look forward to continuing our growth in services and deepening our retail and commercial banking relationships.”

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