Liberty Bank recently kicked off its 50th anniversary celebration by announcing that Todd O. McDonald has been named the Bank’s President effective May 2, 2022. Current Liberty President and CEO, Alden J. McDonald, Jr. will continue with the bank as the head of the Liberty Financial Holding Company.
Todd McDonald, at 41 years of age, takes over the reins of the largest African American owned financial institution in the United States with assets over one billion dollars. Todd joined Liberty in 2003 after earning an undergraduate degree from Morehouse College in Atlanta, GA and a Master’s in Business Administration (MBA) from Northwestern University’s Kellogg School of Management in 2013.
In his nearly two decades of service to Liberty Bank Todd McDonald has held numerous executive positions and was selected to the board of directors of Liberty Bank in 2017. Most recently, he served as executive vice president of Corporate Strategy where he developed national partnerships that have produced several new revenue streams, helped raise $30 million in tier 1 capital (which allowed Liberty to cross $1 billion inassets) and refined existing initiatives around the bank and within the Liberty Financial Holding Company.
“I am excited about the opportunity to continue to serve Liberty’s community focused mission and the legacy of helping people build generational wealth’ Todd says. ”I’ve beensingularly driven to build solid stakeholder partnerships and evolve financial products which meet the financial needs of an ever-changing world. This next 50 years will be extraordinary as we reshape our culture, talent and organizational capabilitieswhich will make us more agile, more competitive, and more effective in our efforts to close the wealth gap in underserved communities across the country.”
Under the guidance of bank founders, Holding Company CEO Alden McDonald, Jr. and Chairman Dr. Norman C.Francis, Todd will continue the legacy as president of the bank responsible for the execution and delivery of new and existing corporate objectives while building a new culture and driving future innovation.
Holding Company CEO, Alden McDonald said, “Todd has the leadership skills, vision, and drive that the Bank needs in these unprecedented times. I’m excited to see him continue to build aculture and team committed to pushing the bank to new levels. I know that our amazing staff, friends, and family will allow him to enjoy the same levels of support and dedication to which I have been privileged for the last fifty years.”
Todd McDonald is a lifelong resident of New Orleans and continues to reside in the city with his wife, Crystal, and their three children.
“Maintaining continuity, loyalty, and an unquestioned commitment to everything we founded Liberty to be and mean to the undeserved was a crucial factor in our naming Todd aspresident. With Todd contributing to the significant growth that Liberty has experienced I look forward to the future underhis leadership as we continue to impact the community as thenation’s largest African American owned bank,” says Dr. Francis, Liberty’s Board Chair.