JPMorgan Chase last week announced that Priscilla Almodovar would head its national community development real-estate lending business. She will continue to serve as chief operating officer of the firm’s community development banking practice, which includes the real estate lending business. The other parts deal with tax credits and lending to community development financial institutions.
In her new role she oversees a team of 30 bankers who provide letters of credit and permanent financing for affordable housing and economic development projects nationwide.
Almodovar joined JPMorgan in January after stepping down as president and chief executive officer of the New York State Housing Finance Agency and the State of New York Mortgage Agency.
“Since joining Chase a year ago, Priscilla has moved energetically and quickly to understand our business and has provided strong leadership across the firm,” Martin Cox, head of Chase Community Development Banking, said in a news release.
Almodovar is married to former New York insurance superintendent Eric Dinallo, who earlier this month joined the law firm Debevoise & Plimpton LLP as a partner in its New York office. Dinallo is a member of the firm’s financial institutions group, which represents the financial services sector.
