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Kubzansky Appointed Managing Partner Of Omidyar NetworkFormer Managing Partner Matt Bannick steps down after leading 11 years of innovation and growth REDWOOD CITY, California, March 14, 2018 /PRNewswire/ -- Pierre Omidyar, Chairman of the Board of Omidyar Network, today announced the appointment of Mike Kubzansky as the philanthropic investment firm's new managing partner. Omidyar also announced that Matt Bannick, Omidyar Network's managing partner since 2007, is stepping down from his leadership role and will continue to serve on the firm's board of directors. Kubzansky will lead a global firm that has invested $1.2 billion in more than 600 for-profit companies and nonprofit organizations across five continents. He joined Omidyar Network in May 2013 to lead the newly-created intellectual capital function, a strategy and research practice designed to inform and set strategy, explore and seed new focus areas for the firm, and generate and publish insights gained through Omidyar Network's global work across its initiatives and with its investees. In his new role, Kubzansky will direct the next phase of the firm's evolution, one that will: (1) continue its early-stage investing and grant-making support of sector-level initiatives; (2) launch several existing Omidyar Network initiatives as autonomous organizations; and (3) generate, develop, and share new cutting-edge ideas, insights, experiments, and lessons to drive innovation. Kubzansky's appointment is effective immediately.
Before joining Omidyar Network, Kubzansky was a partner at Monitor Group (now Monitor Deloitte), where he co-founded and led Monitor's Inclusive Markets practice. He also worked for the World Bank and IFC, and earlier in his career, Kubzansky held several roles at a start-up company in the telecommunications sector. He earned his MBA from the Kellogg School of Management at Northwestern University and his bachelor's degree with honors from Brown University. Kubzansky will follow Bannick, who oversaw more than a decade of growth and led several innovations within the field and practice of philanthropy. Bannick broadened the firm's strategy to focus on entire sectors as well as making investments in early-stage entrepreneurs, and he applied approaches more typically found in venture capital, including a horizontal partnership structure to attract top talent and providing human capital expertise to support investees. He instituted a policy of hiring local talent as the firm expanded into new geographies, and he directed the establishment of an intellectual capital function to capture and share sector insights with peers and the broader field. Bannick's tenure will be marked most notably by his efforts in helping establish impact investing as a mainstream approach to drive positive change. He authored several pieces that framed the opportunity of the approach, co-chaired the U.S. National Advisory Board on Impact Investing, was a frequent speaker on the topic, and saw the industry reach more than $114bn in assets under management. "Omidyar Network has benefited greatly from Matt's leadership, vision, and expertise," noted Omidyar. "He joined the organization at a critical time, quickly building a global team of world-class leaders, while also growing the field of impact investing through his advocacy. I've known Matt for 18 years and it's been a pleasure to work alongside him. Pam and I are humbled by his service, and incredibly grateful for the impact he's had at Omidyar Network, and beyond." ABOUT OMIDYAR NETWORK To learn more, visit www.omidyar.com, and follow on Twitter @omidyarnetwork #PositiveReturns Photo - https://mma.prnewswire.com/media/654230/Mike_Kubzansky_Omidyar_Network.jpg |