D2D Fund Board of Directors

  • Timothy Flacke, Executive Director, D2D Fund
  • Fred Goldberg, Partner, Skadden, Arps, Slate, Meagher & Flom LLP
  • Howell Jackson, James S. Reid, Jr. Professor of Law, Harvard Law School
  • Celia Edwards Karam, Managing Vice President, Capital One
  • Brigitte Madrian, Aetna Professor of Public Policy and Corporate Management, Harvard Kennedy School
  • Keith Malbrue, Chief Operating Officer, Affinity Plus Federal Credit Union
  • Kate McKee, Senior Advisor, CGAP (Consultative Group to Assist the Poor)
  • Garry Reeder, Director, BlackRock
  • Evelyn Stark, Assistant Vice President for Financial Inclusion, MetLife Foundation
  • Peter Tufano, Founder and Chairman, D2D Fund; Peter Moores Dean and Professor of Finance, Saïd Business School

Board Emeritus


Timothy Flacke, Executive Director, D2D Fund

556 Timothy Flacke is the Executive Director of D2D Fund, serves on the organization's Board of Directors and helped launch D2D in 2001. Tim has seventeen years experience helping lower-income people focus on saving in both the private and non-profit sectors.  He has worked as an independent consultant, author and grant writer in the field of asset development. In this capacity he co-authored The Individual Development Account (IDA) Program Design Handbook, successful grant applications under the federal Assets for Independence Act (AFIA) program, and Dollar $ense, a financial education curriculum for IDA programs. Tim was a VISTA volunteer at Central Vermont Community Action Council during the start-up phase of that organization's American Dream Demonstration IDA Program, Tangible Assets. Before entering the asset development field, Tim managed employee benefits, risk management and stock option plans for Filene's Basement, Inc., a chain of off-price apparel retail stores with 5,000 employees in 13 states. He holds a Masters in Public Policy from the Kennedy School of Government at Harvard University and a Bachelor of Arts in Philosophy from Boston College.

Fred Goldberg, Partner, Skadden, Arps, Slate, Meagher & Flom LLP

830  Fred Goldberg is a partner in the law firm of Skadden, Arps, Slate, Meagher & Flom LLP. He first joined Skadden, Arps in 1986, following two years as Chief Counsel of the Internal Revenue Service. From 1989 until 1992, Mr. Goldberg served as Commissioner of the IRS, and during 1992 he served as Assistant Secretary of the Treasury for Tax Policy. Mr. Goldberg advises clients as special counsel on a wide range of complex transactional and compliance matters. In addition to tax opinion work and advice regarding novel tax administration issues, he has directed compliance and management reviews on behalf of senior executives and boards of directors of various companies. Resident in Skadden's Washington office, Mr. Goldberg was a Member of the National Commission on Restructuring the IRS, a Member of the Center for Strategic and International Studies National Commission on Retirement Policy, and Executive Director of the Bi-Partisan Congressional Commission on Entitlement and Tax Reform. He holds a B.A. and J.D. from Yale University.

Howell Jackson, James S. Reid, Jr. Professor of Law, Harvard Law School

831  Howell Jackson is the James S. Reid, Jr., Professor of Law at Harvard Law School. His research interests include financial regulation, international finance, consumer protection, federal budget policy, and entitlement reform. Professor Jackson has served as a consultant to the United States Treasury Department, the United Nations Development Program, and the World Bank/International Monetary Fund. He is a member of the National Academy on Social Insurance, a trustee of the College Retirement Equities Fund (CREF) and its affiliated TIAA-CREF investment companies, a member of the panel of outside scholars for the NBER Retirement Research Center, and a senior editor for Cambridge University Press Series on International Corporate Law and Financial Regulation. Professor Jackson frequently testifies before Congress and consults with government agencies on issues of financial regulation. He is co-editor of Fiscal Challenges: An Inter-Disciplinary Approach to Budget Policy (Cambridge University Press 2008), co-author of Analytical Methods for Lawyers (Foundation Press 2003) and Regulation of Financial Institutions (West 1999), and author of numerous scholarly articles. Before joining the Harvard Law School faculty in 1989, Professor Jackson was a law clerk for Associate Justice Thurgood Marshall and practiced law in Washington, D.C. Professor Jackson received J.D. and M.B.A. degrees from Harvard University in 1982 and a B.A. from Brown University in 1976.

Celia Edwards Karam, Managing Vice President, Capital One Bank

1093 Celia Edwards Karam leads the Consumer Deposits business within Capital One Bank. In this role, she and her team develop digital and financial products that serve the transacting & savings needs of roughly ten million customers.  This team also designs the customer experience for the mobile, online and branch channels.  Ms. Karam has been a key leader in Capital One’s agile product management journey. Since joining Capital One in 2006, Ms. Karam has led product strategy and credit policy in both card and bank. She serves as Credit Officer with approval authority for material lending decisions. Ms. Karam earned her Bachelor’s in Economics from Harvard University and her MBA from Stanford Graduate School of Business. She resides in Arlington, Virginia, with her husband and three children.

Brigitte Madrian, Aetna Professor of Public Policy and Corporate Management, Harvard Kennedy School

832 Brigitte Madrian is the Aetna Professor of Public Policy and Corporate Management at the Harvard Kennedy School.  Before coming to Harvard in 2006, she was on the Faculty at the University of Pennsylvania Wharton School (2003-2006), the University  of Chicago Graduate School of Business (1995-2003) and the Harvard University Economics Department (1993-19 95).  She is also a research associate and co-director of the Household Finance working group at the National Bureau of Economic Research, and co-editor of the Journal of Human Resources. Dr. Madrian’s current research focuses on household saving and investment behavior.  Her work in this area has impacted the design of employer-sponsored savings plans in the U.S. and has influenced pension reform legislation both in the U.S. and abroad. She has also examined the impact of health insurance on the job choice and retirement decisions of employees and the hiring decisions of firms. Dr. Madrian received her Ph.D. in economics from the Massachusetts Institute of Technology and studied economics as an undergr aduate at Brigham Young University.  She is the recipient of the National Academy of Social Insurance Dissertation Prize (first place, 1994) and the TIAA-CREF Paul A. Samuelson Award for Scholarly Research on Lifelong Financial Security (2002).

Keith Malbrue, Chief Operating Officer, Affinity Plus Federal Credit Union

564  Keith Malbrue is Chief Operating Officer of Minnesota’s largest credit union with state-based assets, Affinity Plus Federal Credit Union. Mr. Malbrue has been a key leader of Affinity Plus since November of 2000 when he joined as the Vice President of Information Technology. His efforts have served as the technological foundation that supports the organization’s unique member-driven strategy and relationship-based service commitment to its nearly 138,000 members. Mr. Malbrue has over 25 years of extensive information technology experience in the credit union industry. Prior to his tenure with Affinity Plus, Mr. Malbrue was the Vice President of Technology at Honeywell Federal Credit Union and has held positions at Premier Systems, Inc., a service bureau for over 200 credit unions. Mr. Malbrue has also worked for San Mateo Credit Union; Ultradata Corporation, a data processor vendor located in Pleasanton, California; and TRW Systems Federal Credit Union. Mr. Malbrue studied Computer Science and Business Law at Los Angeles Southwest College, El Camino College and Santa Monica College. He holds MERIT Certification from the Credit Union Management Enrichment Program, and is 2011 Minneapolis / St. Paul Business Journal Chief Information Officer of the Year.

Kate McKee, Senior Advisor, CGAP (Consultative Group to Assist the Poor)
863 Kate McKee has over 25 years experience developing, researching and testing innovations to increase financial access and inclusion. She currently leads CGAP’s research, writing, and policy advisory work on consumer protection in developing countries. She also leads CGAP’s responsible finance agenda, including new work to identify emerging risks for digital finance customers and explore how financial service providers and regulation can address these risks. Kate has worked closely with the Smart Campaign and investors to develop and implement consensus standards for improved protection of microfinance clients. Other CGAP work has focused on savings, youth, behavioral research, and the role of government in financial inclusion. From 1998 to 2006 McKee directed the Microenterprise Development office at the U.S. Agency for International Development (USAID), leading support to USAID overseas programs that invest over $200 million annually in 70+ countries. From 1986 to 1998 Kate was a senior manager with Self-Help in North Carolina, the largest Community Development Financial Institution (CDFI) in the United States. She led the start-up of a government fund to invest in CDFIs and provide incentives for mainstream financial institutions to boost community development lending. She also worked for the Ford Foundation in New York and West Africa. She is a development economist, with a master's degree from Princeton University.

Garry Reeder, Director, BlackRock

1032 Garry Reeder is a Director at BlackRock, the world’s largest asset manager.  Garry heads the Consumer Protection Practice for their Financial Markets Advisory Group.  Prior to joining BlackRock, Garry was a Founding Partner of Fenway Summer – a hybrid advisory and venture investment firm focused on U.S. consumer finance.  As the CEO of FS Advisory, he provided strategic guidance to banks, finance companies, and start-ups and performed due diligence for investors. Garry was a member of the original team at the U.S. Treasury Department charged with staffing the Consumer Financial Protection Bureau (CFPB) and setting its strategic, operational, and policy priorities.  In addition to serving as Chief of Staff, he envisioned and helped develop the CFPB’s Project Catalyst - a program focused on fostering consumer-friendly innovation.  Garry also served as the FDIC Deputy representing the CFPB and was a member of the Deputies Committee and Systemic Risk Committee of the Financial Stability Oversight Council (FSOC). Before joining the CFPB, he was a member of the Treasury Department’s Auto Team, which managed the Troubled Asset Relief Program’s (TARP) auto investments – including the $23 billion IPO of General Motors.  Prior to his stint in public service, Garry spent a decade in the asset management business – at Ziff Brothers Investments covering financial institutions and at Sanford C. Bernstein & Co. covering the media industry. Garry is a graduate of Yale College and Columbia Business School and serves as a Fellow at the Aspen Institute’s Initiative on Financial Security.

Evelyn Stark, Assistant Vice President for Financial Inclusion, MetLife Foundation

835 Evelyn Stark is the Assistant Vice President for Financial Inclusion at the Metlife Foundation. She was previously a Senior Program Officer in the Financial Services for the Poor team in the Global Development Program at the Bill & Melinda Gates Foundation. Her work is focused on product design and innovations that increase the relevance of financial services for poor people and lead to greater financial inclusion. After working for many years in US banks and non-bank financial institutions managing special asset portfolios (i.e., failed commercial real estate loans), Evelyn spent six years in the microfinance field in Uganda. In 2003, she returned to the US, where she worked with USAID in the office of Microenterprise Development, concentrating on products and services to extend outreach to underserved populations in Sub-Saharan Africa, the Middle East and North Africa. She then worked at CGAP on its Expanding Access project before joining the Bill & Melinda Gates Foundation in late 2008. Evelyn holds a B.A. in International Relations and Economics from Bucknell University. 

Peter Tufano, Founder and Chairman, D2D Fund; Peter Moores Dean and Professor of Finance, Saïd Business School

565 Peter Tufano is the co-founder and Chairman of D2D Fund, Inc.  After 22 years on the faculty of Harvard Business School, most recently as the Sylvan C. Coleman Professor of Financial Management, Peter is now Dean of the University of Oxford's Saïd Business School.  Peter’s research is in the field of consumer finance, mutual funds, and financial engineering. His work in consumer finance ranges from field experiments, large scale empirical projects, clinical research, and course development (including a joint MBA-JD offering with fellow board member Howell Jackson).  Peter is a Research Associate at the National Bureau for Economic Research, serves on the FDIC’s Advisory Committee on Economic Inclusion, sits on the board of the Global Association of Risk Professionals (GARP), and frequently consults to businesses and governments. Peter earned his Ph.D. in Business Economics from Harvard University, his M.B.A. from Harvard Business School with high distinction as a Baker Scholar, and his B.A. degree in economics, summa cum laude, from Harvard College.

Board Emeritus

Professor Tamar Frankel, Professor of Law, Boston University

657 A member of the Boston University School of Law faculty since 1968, Professor Tamar Frankel is considered a leading expert in the areas of financial system regulation and corporate governance. She is the author of four major books: Trust and Honesty, America's Business Culture at a Crossroad (2006) (Oxford University Press); A two volume treatise Securitization ( 2d ed. 2006) (Fathom Publishing Company); A companion teaching book, Trust and Honesty in Real Life (with Mark Fagam) (2007) (Fathom Publishing Company); A four volume treatise The Regulation of Money Managers (2d ed. 2001) (with Ann Taylor Schwing)(Aspen Law & Business). Investment Management Regulation (3d ed. Fathom Publishing Company 2005)(with Clifford E. Kirsch);Professor Frankel has an L.L.M. and an S.J.D. from Harvard Law School and a diploma from Jerusalem Law.

Robert Friedman, Founder, Chair of the Board and General Counsel, Corporation for Enterprise Development

558 Robert Friedman is Founder, Chairman of the Board and General Counsel of the Corporation for Enterprise Development (CfED). Since CfED's founding in 1979, Mr. Friedman and CfED have worked extensively with public and private policymakers in state and local governments, corporations, private foundations, labor unions and community groups to design and implement innovative and effective economic development strategies. CfED's work emphasizes job creation through enterprise development, with a special concern for approaches that help establish sustaining economies in chronically depressed communities and among economically depressed populations. Bob is a graduate of Harvard College and Yale Law School.

Suzi Sosa, Co-Founder and CEO, Verb

834 Suzi is the Co-Founder and CEO of Verb, Inc., a social enterprise dedicated to the activation and empowerment of social entrepreneurs through innovation competitions and a global online marketplace.  Verb's signature competition is the Dell Social Innovation Challenge which, over the past seven years, has invested over $750,000 of seed capital and provided more than 2,000 hours of one-on-one mentoring to more than 7,000 start-up social enterprises from around the world. Previously Suzi was the Associate Director of the RGK Center for Philanthropy and Community Service at the LBJ School of Public Affairs in The University of Texas at Austin where she led the university program in social innovation and entrepreneurship.  Suzi was also Associate Adjunct Professor and created the university's first graduate and undergraduate courses in Social Entrepreneurship. Suzi has more than ten years of experience in social entrepreneurship in both the for-profit and non-profit worlds. She was previously Chief of Staff at MPOWER Labs and has been a co-founder of several non-profits, including Innovation+, Austin Women Entrepreneurs and RISE Austin. Suzi was a Contributing Editor in social entrepreneurship for Inc magazine.  She has a particular interest in innovation, design thinking, and organizational models of social enterprise. Suzi has a Masters in Public Administration from the John F. Kennedy School of Government at Harvard and a B.A. in the Plan II Honors Program from the University of Texas at Austin. Ms. Sosa is on leave from the Board in 2015.

Jim Wells, President, Wellspring Consulting International, Inc.

46 Mr. Wells founded and manages Wellspring Consulting, which specializes in using technology to expand access to financial services for populations underserved by traditional financial institutions. Mr. Wells also works with a wide range of government, corporate, philanthropic and social organizations seeking to better serve the financial needs of low- to moderate-income consumers. Previously, Mr. Wells was Senior Vice President for Strategic Alliances at Electronic Funds & Data Corp, where he helped pioneer the concept of bank-centric, internet-based Electronic Bill Presentment and Payment (EBPP). Mr. Wells has over twenty-five years of management and consulting experience in traditional banking and non-traditional delivery of financial services with such firms as Citicorp, HongkongBank and MasterCard, in North America, Europe, Africa and the Middle East. Mr. Wells performed his post-graduate business course work at the C.W. Post Center, Long Island University and has a B.A. in Biology from the University of Miami.