Wiscasset, Maine—Coastal Enterprises, Inc. (CEI) has hired David Wedick of South Portland, Maine, to become its new CFO, starting May 18th. Since 2009, David has worked at MicroVest Capital Management, most recently as Director of Strategic Operations and Business Development. MicroVest is an asset management group headquartered in Bethesda, MD, that invests private capital into under-banked emerging markets to increase access to capital for micro, small and medium enterprises.
“We landed an individual we believe has exceptional talent to help CEI in its growth and impact,” said Ron Phillips, CEI President and CEO. “David’s range of analytic skills is applicable to CEI’s complex array of financial accounting, asset management, capital formation, and strategic modeling and forecasting. David has demonstrated a personal commitment to an underlying mission of creating access to finance for people, places and economic sectors aspiring to greater economic opportunity. He is a great communicator and we believe will firmly enhance both CEI’s internal financial management requirements as well as external relationships with funders and investors.”
David graduated with a Master’s degree in economics and mathematics from the University of Edinburgh, Scotland. He is a CFA® charterholder and is a member of the CFA Society Maine. A native of the United Kingdom, David launched his career as an equity research analyst at J.P. Morgan in London, and was subsequently recruited by Trade Aid Tanzania to help establish a microfinance lending program in the rural southern region of Mtwara. In Tanzania, he met his future American wife, originally from Fairfield, Maine, who was working as a Peace Corps volunteer in a neighboring village, and who is now a Masters in Public Health candidate at the University of Southern Maine. Prior to joining MicroVest, David was the general manager of E-Fulusi Africa, a mobile banking technology startup, also located in Tanzania.
“For the last eight years I have focused on building financial markets that work to serve low-income communities in a profitable, sustainable and ethical manner,” said David Wedick. “I am excited by the opportunity to join the CEI senior staff at a crucial juncture in the organization’s growth path and to directly contribute to preserving the integrity of both CEI’s financial strength and mission.”