Enterprise Community Partners Board of Trustees Names Terri L. Ludwig President and CEO

COLUMBIA, Md., Sept. 16 /PRNewswire/ -- The Board of Trustees of Enterprise Community Partners, Inc., today announced that it has appointed Terri L. Ludwig as the new president and CEO effective January 1, 2011. Ludwig has 25 years of experience in investment banking and nonprofit leadership and served most recently as executive vice president and chief operating officer at Enterprise starting in 2009.

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"Terri's extensive background intersects community development, social investment and nonprofit leadership, and makes her the ideal person to lead an organization as dynamic as Enterprise," said Ron Terwilliger, chairman of Enterprise Community Partners. "With her deep experience, outstanding leadership and her proven track record of making a real difference in people's lives, Terri will effectively take Enterprise into the future."

"I am honored to lead Enterprise and will build on founders Jim and Patty Rouse's legacy of improving housing conditions for low- and moderate-income people across the country," said Terri Ludwig, president and CEO-elect of Enterprise Community Partners.  "The need for affordable housing has never been greater, making Enterprise's mission more critical than ever. The organization is committed to working with its many partners to deliver capital and solutions, advance the policy agenda of the affordable housing and community development sector, and ultimately help people transform their lives with an affordable home as the cornerstone of success."

Ludwig succeeds Doris W. Koo, who has been serving as president and CEO since 2007. When Koo became CEO, she indicated her intention to serve in the role for a three- to five-year period in order to return to Seattle to be closer to her family and aging parents.  Koo will assume the position of senior advisor after December 31, 2010 and will continue to serve Enterprise and its mission from the Pacific Northwest.

From 2002 to 2009, Ludwig served as president of the Merrill Lynch Community Development Company, where she led community development, committed over $2 billion in loans and investments, and launched a successful social investment platform for Merrill Lynch's private clients.

Prior to Merrill Lynch, Ludwig was the president & CEO of ACCION New York, the largest nonprofit micro-lender in the United States, whose mission is to lend small business owners the capital and support they need to achieve success. Following the Sept. 11 tragedy, Ludwig mobilized a team to establish the American Dream Fund, a disaster relief fund delivering loans and technical assistance to small business owners who lost their livelihoods in the disaster.

Prior to her work at ACCION, Ludwig launched a highly successful international sales effort for Global Foreign Exchange at Credit Suisse First Boston with offices in London, New York and Hong Kong. She also spent eight years with Merrill Lynch in the Structured Investment and Global Foreign Exchange groups, creating global investment strategies for institutional clients, including hedge and mutual funds, central banks, and corporations.

Ludwig is an appointee to the U.S. Department of the Treasury Advisory Board for Community Development and Financial Institutions and the co-chair of the board of ACCION USA. She serves on numerous executive and advisory boards and was selected for the Social Innovation Fellowship for Nonprofit Leaders at the Stanford Graduate School of Business and the David Rockefeller Fellows Program.

A native of Mount Vernon, Ill., Ludwig holds a bachelor's degree from the University of Illinois at Urbana-Champaign, and a master's degree from Harvard University's John F. Kennedy School of Government. She is married and has two children.

Enterprise is a leading provider of the development capital and expertise it takes to create decent, affordable homes and rebuild communities. For more than 25 years, Enterprise has introduced neighborhood solutions through public-private partnerships with financial institutions, governments, community organizations and others that share our vision. Enterprise has raised and invested more than $10 billion in equity, grants and loans to help build or preserve more than 250,000 affordable rental and for-sale homes to create vital communities. Enterprise is currently investing in communities at a rate of $1 billion a year. Visit www.enterprisecommunity.org and www.enterprisecommunity.com to learn more about Enterprise's efforts to build communities and opportunity.

SOURCE Enterprise Community Partners, Inc.