Photo courtesy of BECMA
The Black Economic Council of Massachusetts has named Nicole Obi its new president and CEO.
Obi replaces Segun Idowu, who joined Boston Mayor Michelle Wu’s administration this week as the chief of economic opportunity and inclusion, a cabinet-level position responsible for economic development.
Previously BECMA’s vice president of member experience and engagement, Obi was unanimously chosen by the board of directors to lead the organization, according to a statement from BECMA. The board’s decision was based on “her extensive experience, catalytic and effective leadership skills, and her vision for achieving BECMA’s mission,” the statement said. She began her new role on Jan. 3.
“We are thrilled to have Nicole Obi as our new President & CEO,” Teri Williams, BECMA’s chairman and president of OneUnited Bank, said in a statement. “She understands the opportunities, risks, and challenges BECMA faces in pursuit of our mission and has the expertise to lead us to new heights.”
Before joining BECMA 18 months ago, Obi had co-founded two venture-backed start-up firms and then led a strategy consulting firm for seven years. She joined Fidelity Investments in 2007 as a director within the strategy consulting group. She later established a new customer function within Fidelity’s retail business and left the company in 2018 as vice president of customer insights and engagement strategy, the statement said.
She is on the board of advisers for GBH, the Women’s Foundation of Boston, the Environmental League of Massachusetts and Longfellow Investment Management. She is also on Browning the Green Space’s board of directors.
During her time at BECMA, Obi has worked on helping Black business owners receive financial and other assistance during the pandemic; helping members improve their banking relationships, marketing, and productivity outcomes; and a pilot program to pivot micro and small businesses onto digital platforms.
“Our vision for closing the racial wealth gap in Massachusetts is based upon the pillars of enabling entrepreneurship, increasing equity value through business and homeownership, facilitating commercial engagement through purchasing and placing Black people in the skilled workforce and in decision making roles in management and board positions,” Obi said in the statement. “I’m elated to lead BECMA and look forward to driving impactful outcomes in closing the Commonwealth’s wealth gap.”
