Black PR Wire Power Profiler on James Mundy

James R. Mundy was once a powerful executive at one of the nation's leading African American banks, and now he is stepping out on faith to head up his own financial business. Mundy is the founder of BankBlackwell, the first ever African American direct community bank and the first federally chartered African American savings bank in ten years. With more than seventeen years as an executive in the financial industry, he has what it takes to serve as the President and Chief Executive Officer of BankBlackwell.

Before starting his own bank, Mundy served as the Vice President of Commercial Lending for Boston's OneUnited Bank for two years, as Chief Financial Officer for four years and then as the Chief Operating Officer until he left in the fall of 2003. He also founded and operated a startup technology company for four years in the early nineties, and worked in the Investment Banking group of JPMorgan Chase (formerly Chemical Bank) from 1986 to 1991.

Mundy has the support of others in the financial banking industry. He is one of thirteen organizing founders who have committed to buying 9.9 percent of BankBlackwell's stock. The bank is expected to launch in the summer of 2005 and will offer savings accounts, certificates of deposit and mortgages and home equity loans. In order to reduce costs, the bank will conduct business through the internet, phone and mail.

Mundy received his Bachelors of Arts in Economics and his M.B.A. in Finance and Corporate Accounting from the University of Rochester. He currently serves on the New England Shelter for Homeless Veterans Board of Directors.