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Early Out as RI Commerce Corporation President

Tuesday, December 12, 2017

 

Darin Early leaving Commerce

Darin Early is stepping down as President of the Rhode Island Commerce Corporation, effective January 2018. 

According to RI Commerce spokesperson Matt Sheaff, Early will stay on temporarily in a consulting role; Managing Director and Head of Investments Jessie Saglio will take over as President and COO beginning in January. 

Latest for Early

In 2015, GoLocal dubbed Early as one "16 to Watch in 2016" in Rhode Island.

The President and Chief Operating Officer of the Rhode Island Commerce Corporation might keep a behind-the-scenes role -- but his resume of executing financing deals for the World Trade Center and New York’s Metropolitan Transportation Authority shows he's got the chops to get things done.  Now, Early has teamed up with someone he’s worked with in the past — Commerce Secretary Stefan Pryor — interfacing with the Executive Office of Commerce and the Governor’s Office, while overseeing the daily operations of the agency.  

Early came under scrutiny later in the year for his role in a controversial deal, in an October 2016 GoLocal piece, "Details Emerging About How CA Developer Robbins Got $3.6M From Commerce, Raimondo."

“Darin has made many valuable contributions to the Commerce team’s efforts – and to the progress our state’s economy is making under Governor Raimondo. Thanks to Darin’s hard and innovative work, real estate projects are taking shape and are helping to rebuild our state’s economic momentum. Rhode Island’s small business have access to a state-backed loan program for the first time in memory and can seek concierge-style support from Commerce when they need assistance. During his tenure, Darin oversaw the reorganization of the Commerce Corporation, including the creation of the Business Development unit which has been responsible for proactively recruiting some of the key companies that are now making Rhode Island home. We are grateful for Darin’s dedicated service and wish him the best as he advances to his next endeavor," said Commerce Secretary Stefan Pryor. 

About Saglio

Prior to joining the Commerce Corporation, Jesse served as the director of the AIG Investment Program for the U.S. Department of the Treasury. In that role, he led the unwind of the treasury’s $70-billion TARP investment in AIG and worked with the Federal Reserve to monetize its position in the federal government’s $182-billion commitment to AIG to stabilize the U.S. financial system during the 2008 financial crisis. Before joining the treasury, Jesse served as the head of business development for a boutique healthcare advisory and consulting business.

Jesse began his career as a mergers, acquisitions and restructuring investment banker, having executed approximately $75 billion of transactions across a wide variety of industries during his career at Morgan Stanley, Lazard and Evercore Partners.

Born in Westerly, Jesse currently resides in Hopkinton, RI.

 

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