The Institute senior business consultant Farad Ali has been tapped to become president and chief executive officer Oct. 1, 2014. He brings to this work 25 years experience in banking, small business development and public service. That includes 15 years with the Institute leading its business development teams and helping Fortune 1000 companies develop supplier diversity programs that reduce costs, maximize technology, increase spend with diverse vendors and enhance satisfaction with diverse vendor engagement.
Ali first joined the Institute in 1999 as senior vice president, leading the team of managerial and financial technical assistance consultants that enhance the internal controls and management capacity of minority firms. The team provides strategic business consulting and technical support that helps client companies build partnerships and maximize their access to capital and markets.
He was also responsible for developing and implementing strategies that improved the utilization of historically underutilized businesses. His leadership resulted in continuous improvement around strategy, process, architecture, resources, systems and empowerment and more than $1 billion of economic opportunity and business financing generated.
Ali served as interim president and CEO of the Carolinas Minority Supplier Diversity Council (now Carolinas-Virginia Supplier Diversity Council) from during 2011. During his tenure, the council expanded business opportunities for minority business enterprises (MBEs) and created mutually beneficial links between corporate members and MBEs. More than 175 corporate members and 400 minority certified businesses participated with council activities during that period. He also participated in the White House African American Leadership In Action Conference, advising White House staff about ways to increase the awareness of economic agenda items that can improve the utilization of minority business enterprises.
Prior to joining the Institute, Ali served as assistant vice president for business and community banking at Royal Bank of Canada (RBC) Centura from 1995-1999 and in corporate, retail and commercial lending positions for Wachovia/Wells Fargo from 1989-1995.
Ali serves on the boards of the National Minority Supplier Development Council and the Airport Minority Advisory Council, and he is immediate past chairman of the Carolinas Minority Supplier Development Council. He served as Durham City Councilman from 2007-2011.
Ali holds an undergraduate business degree with a concentration in finance from the Kenan-Flagler School of Business at the University of North Carolina at Chapel Hill and a MBA degree from Campbell University. He received post-graduate training for emerging business markets from the Tuck School of Business at Dartmouth University.