PACE Inventor Cisco DeVries Announces His Successor, Assumes New Role as Chief Innovation Officer
OAKLAND, California, May 31, 2018 — Renew Financial, the inventor of Property Assessed Clean Energy (PACE) financing and a leading provider of financing for home improvements, today announced that Kirk Inglis, currently Renew Financial’s Chief Financial Officer (CFO), will succeed Cisco DeVries as Chief Executive Officer (CEO) of the company. Mr. Inglis brings more than 20 years of experience in financial services and technology with a deep expertise in consumer lending. His career includes senior finance and operating roles with Calypso Technology, Prosper Marketplace and Providian Financial Corporation. Mr. DeVries will become the company’s Chief Innovation Officer to focus on key growth opportunities and to help innovate new financing tools for clean energy. DeVries will continue to serve on Renew Financial’s board of directors.
“Over the past decade, Renew Financial grew from three people sharing one small office to 300 employees across five states. So far, we’ve financed $1.5 billion in projects and helped more than 90,000 American families to live more efficiently, comfortably and securely,” said DeVries. “As we enter our next phase of growth, I chose to initiate this transition because I can’t think of a better person to lead our company than Kirk Inglis. He combines a keen understanding of what it takes to build a consumer lending business with a rock-solid commitment to our mission.”
“I’m honored to step into this new role and glad I will have an opportunity to continue working alongside Cisco to grow our business,” said new CEO Kirk Inglis. “Cisco built a tremendous team here at Renew Financial, all committed to the same mission: empowering property owners with a free-market financing option that saves energy, creates jobs and reduces carbon emissions. The most effective way for us to achieve that mission is to continue our growth. For more than a decade, homeowners have trusted us to help them make critical home improvements. By increasing efficiency and execution across the company, we can continue to be that trusted partner for many years to come.”
For the past three years, Mr. Inglis has served as Renew Financial’s CFO, expanding the company’s capital markets, financial operations, accounting and FP&A functions. Prior to that, he held the same role at Calypso Technology, a leading global provider of technology solutions for the capital markets industry. Mr. Inglis also served as Chief Operating Officer and CFO at Prosper Marketplace, a peer-to-peer lending marketplace that uses technology to allow investment in unsecured consumer loans. He also served in a variety of roles with Providian Financial Corporation, a leading credit card issuer. His roles at Providian included leading a team that executed strategic transactions to raise capital and liquidity, managing Providian's debt buying and collections operations, serving as CFO of their internet lending operations and managing the companywide FP&A function. Mr. Inglis began his career as a Treasury Analyst with First Tennessee National Corporation.
Renew Financial has been a national leader in PACE financing since 2008 and has played a central role in establishing a robust regulatory framework for PACE programs across the country. PACE is one of the fastest growing financing industries in the U.S. and has empowered more than 216,000 American families to make energy upgrades and resiliency improvements to their homes. As a 100% privately financed program, PACE is widely supported for its ability to save homeowners money on their utility bills and insurance premiums, create jobs and reduce greenhouse-gas emissions – all without a single dollar of taxpayer funds.
About Renew Financial
Renew Financial Group LLC (“Renew Financial”) is one of the nation's leading home improvement financing companies. Renew Financial administers and provides multiple financing products across the country, with programs available in several states, including Property Assessed Clean Energy (PACE) programs operating in California and Florida. PACE is a financing tool enabled by state and local governments that provides homeowners and business owners with access to private capital to finance the entire cost of energy efficiency, water conservation, renewable energy, seismic, and wind mitigation upgrades, and then pay for those upgrades on their property tax bill. PACE was named by Scientific American as one of the "top 20 ideas that can change the world." PACE is a job-creating policy tool that enjoys broad support, having been championed in state legislatures and local communities nationwide by business leaders, advocacy organizations and elected officials from both sides of the aisle.
By Colin Bishopp for Renew Financial Group LLC