Boston Financial Investment Management announced that the company’s chief credit officer, Jim Dailey, will be retiring from the firm in June. Noreen Short, who joined Boston Financial last week as deputy chief credit officer, will assume the top role after Dailey’s departure, Commercial Observer has learned.
“Boston Financial’s proven track record and positive social and economic impact on communities across the country are what drew me to the company,” Short told Commercial Observer. “I’m looking forward to supporting the firm’s continued growth by helping to effectively manage its credit risk.”
Short has more than 20 years of affordable housing experience and joined the firm from Capital One, where she was a senior director and the head of portfolio management. There, she led the portfolio management team responsible for the asset management of a $6 billion affordable housing portfolio. Prior to that, Short spent nine years in senior roles on the equity underwriting team at Capital One, during which time she managed 13 client relationships with regional and national syndication partners and underwrote and invested in more than $2 billion in Low-Income Housing Tax Credit multi-fund investments.
She previously worked for five years at MMA Financial, the predecessor to Boston Financial, performing market studies on more than $400 million in both proprietary and multi-fund investments.
“Noreen is a highly motivated professional with deep industry and investor base knowledge, as well as strong risk management experience, and we are thrilled that she will be joining our leadership team,” Greg Voyentzie, CEO of Boston Financial, said in a statement. “We are confident that Noreen’s experience, combined with our transition plan, will ensure Boston Financial’s continued ability to deliver best-in-class service and optimal solutions for our partners and positive outcomes for the communities we serve.”
In Dailey’s nearly four-decade career with Boston Financial, he has worked across the low-income housing business, including handling tax credit acquisitions, corporate fund treasury management, investor sales and asset management.
“Jim has been with the firm for 37 years and has been an outstanding member of our leadership team, helping us establish a strong approach to credit as well as a lasting legacy of community support,” Voyentzie said. “Jim is admired personally and professionally by all of us, and we are pleased that he will have more time to spend with his family and young grandchildren. We thank him for his many years of loyal service and tremendous contributions to Boston Financial and the affordable housing community.”
Emily Fu can be reached at efu@commercialobserver.com.