Thiru Vignarajah, the former federal and state prosecutor who has run high-profile campaigns for mayor of Baltimore and Baltimore City state’s attorney in recent years, is moving on to the financial services industry.
Capital Plus Financial, a community development financial institution (CDFI) and subsidiary of Crossroads Systems, Inc., a publicly traded investment company, announced Monday that Vignarajah would become its new CEO.
Thiru Vignarajah. Mayoral campaign photo.
“Thiru’s personal journey and record of leadership and service embody the values that define Capital Plus,” said former Capital Plus Financial CEO Eric Donnelly, who will remain CEO of the holding company, Crossroads Systems, Inc. “It is hard to imagine a better person to help write the next chapter of our remarkable story.”
Capital Plus bills itself as a company dedicated to closing the wealth gap in the U.S.
The company said its loan portfolio balance grew to more than $130 million over the past year, and that it helped small businesses survive the pandemic by approving nearly 480,000 federal Paycheck Protection Program loans amounting to $7.6 billion, more than 80% of which went directly to companies and independent contractors of color.
“Capital Plus has emerged as a national leader in tackling the barriers that fuel the racial wealth gap, from access to capital and low financial literacy to discrimination in mortgage lending and lack of credit history,” Vignarajah said in a statement. “This is a pioneering community financial institution that is not just talking about these longstanding problems, but finding ways to solve them. I am honored by the opportunity to build on this success and continue this mission-driven work.”
Josh Kurtz
Founding editor
Founding Editor Josh Kurtz is a veteran chronicler of Maryland politics and government. He began covering the State House in 1995 for The Gazette newspapers, and has been writing about state and local politics ever since. He was an editor at Roll Call, the Capitol Hill newspaper, for eight years, and for eight years was the editor of E&E Daily, which covers energy and environmental policy on Capitol Hill. For 6 1/2 years Kurtz wrote a weekly column on state politics for Center Maryland and has written for several other Maryland publications as well. Kurtz regularly gives speeches and appears on TV and radio shows to discuss Maryland politics.
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