Alumnus Confirmed by Senate To Lead Corporation to Fight Global Poverty

The U.S. Senate has confirmed Daniel W. Yohannes ’76 as CEO of the Millennium Challenge Corporation (MCC), a U.S. government corporation that works with some of the world’s poorest countries to help reinforce good governance and instill principles of economic freedom and investment in people. The Senate’s confirmation of Yohannes was unanimous on Nov. 20, following his nomination in September by President Barack Obama.

According to a Nov. 23 article in the Ethiopian Review, Yohannes said there is “a lot to accomplish in order to advance our government’s vision to reduce global poverty. It is challenging to replace patronage with partnership to deliver smart aid that matters by encouraging some policies, country-led development, and sustainable results,” he said. “MCC offers some important lessons on where to start. MCC lays an innovative foundation to address the complex problem of global poverty.”

Yohannes’ Nov. 20 confirmation was posted on the U.S. Senate Web site: http://www.senate.gov/pagelayout/legislative/one_item_and_teasers/nom_confc.htm.

In a release issued by the White House Office of the Press Secretary on Sept. 18, President Obama commented on the proficiency of Yohannes, as well as two others that were nominated to key administration posts that day. “These individuals have proven that they will bring skill, dedication and expertise in these important areas to my administration, and I look forward to working with them in the coming months and years,” Obama sais.

The Millennium Challenge Corporation is an organization whose mission is to reduce global poverty through the promotion of sustainable economic growth.

Yohannes currently serves as president and CEO of M&R Investments, LLC, a privately-held investment firm with a focus on the green energy sector. He is perhaps best known for his work as CEO of U.S. Bank, where in just seven years he grew the company’s assets from a base of $2 billion to $9 billion. He began his banking career as a teller at Security Pacific Bank.

In addition to his work in the banking sector, Yohannes is on the Board of the National Jewish Hospital and Research Center, the Denver Art Museum, the University of Colorado Medical School and Project C.U.R.E., which provides medical supplies to 110 countries.

Yohannes, who came to the U.S. as an exchange student from Ethiopia at the age of 17, holds a B.S. in economics from CMC and an M.B.A. from Pepperdine University.