Warren H. Bacon was recently appointed senior project manager at the Initiative for a New Economy (INE), a strong advocate for businesses of color.
INE is a Boston-based nonprofit organization that advocates supplier development as the best approach to help businesses owned by people of color in Massachusetts to grow, gain scale, profitability and inclusion in the economic mainstream.
Bacon’s primary focus at INE is managing the supplier engagement process, including the development of supplier relationships, due diligence, coaching, matching for engagements with institutional purchasers and ongoing relationship counseling. He joins INE after a 30-year career in banking, with extensive experience in lending, risk management, developing and leading staffs to exceed expectations, process improvement and business turnaround.
Prior to joining INE, Bacon served as senior vice president of small business credit and operations for TD Banknorth, where he managed two loan underwriting centers and the bank’s $800 million small business loan portfolio.
Bacon also held several key positions at BankBoston and Fleet Bank. He served as risk manager for Fleet’s international private banking division, where he developed a comprehensive anti-money laundering system and other risk mitigation tools. Before that, Bacon served as a director in BankBoston’s loan review department, where he managed credit examinations both domestically and internationally across the bank’s commercial and consumer portfolios.
He was also the senior credit officer for BancBoston Mortgage Corporation, where he introduced several new processes and analytical techniques that significantly improved efficiency and risk mitigation. Bacon also previously managed the bank’s private banking division for eastern Massachusetts.
In addition, Bacon is treasurer and a member of the board of directors of Freedom House Inc., as well as a board member and chairman of the marketing committee for the Massachusetts Appleseed Center for Law and Justice. He serves on the board of the Massachusetts Congregational Fund and as a member of the Loan Oversight Committee of the Dorchester Bay Economic Development Corporation.
Bacon holds a bachelor’s degree in economics from Oberlin College, and an M.B.A. in finance from the University of Chicago.