Chase Hires Banking Executive to Bolster Affordable Housing Efforts

NEW YORK CITY — Chase has hired Rachel Grossman to join the Community Development Banking group, as head of affordable housing secondary markets. Based in New York City, Grossman is tasked to identify opportunities and solutions for financing affordable housing.

The new hire comes as Chase becomes a prominent player in transformative community development. Since the start of the year, the firm’s commercial real estate team helped create and preserve over 12,000 affordable housing units. “With Rachel joining, we’re bringing additional expertise and resources on board to address a growing shortage of affordable housing,” said Alice Carr, head of CDB, in a prepared statement.

“There’s an ongoing need for affordable places to live across the U.S.,” said Grossman in a prepared statement. “Chase is a leader in affordable housing financing and I’m excited to work with dedicated experts that support important industry players to help local communities thrive.”

With over 20 years of experience in affordable housing financing, Grossman previously served at Wells Fargo, as the Affordable Housing Screening Group Head. Before that, she was a senior vice president for the New York City Housing Development Corporation.

Grossman received her Bachelor of Arts Degree in Political Science and International Studies from Yale University and her Master’s in Public Policy from Harvard University. She serves on the Board for Settlement Housing Fund, Inc. and Crenulated Housing.