• Goldman Sachs executive Dina Powell McCormick will be the new chair of the Robin Hood Foundation.
• McCormick will assume her new role in February.
• The Robin Hood Foundation has donated more than $3 billion over the last three decades to groups that fight poverty.

Goldman Sachs executive Dina Powell McCormick has been named chair of the Robin Hood Foundation, a nonprofit backed by Wall Street executives and other business leaders that aims to combat poverty.

McCormick, who was the group's vice chair, was elevated by the board to chair on Wednesday, the foundation announced in a statement. Former Chairman, John Griffin, founder of Blue Ridge Capital, will remain on the board.

"For 35 years, Robin Hood has been fighting to elevate New Yorkers out of poverty. Being elected chair by her peers is a powerful recognition of Dina's history of service, leadership, and commitment to our mission," Robin Hood CEO Richard R. Buery, Jr. said in a statement. "She leaned into our response to Covid-19 by supporting the work of the Robin Hood Relief Fund that raised more than $80 million over 18 months and played a pivotal role in the creation and launch of Robin Hood's equity centered, initiative supporting nonprofit leaders of color, The Power Fund."

McCormick is Goldman's global head of sustainability and inclusive growth. She's also the global head of the firm's sovereign business. She's served in both former presidents George W. Bush and Donald Trump's administrations.

Other titans of industry that are listed on the poverty fighting foundation's board include Mike Novogratz, the CEO of cryptocurrency investment firm Galaxy Digital, David Solomon, the CEO of Goldman Sachs, Jeff Blau, the CEO of Related Companies and Mary Callahan Erdoes, the CEO of JPMorgan Asset & Wealth Management.

The foundation's vote to make McCormick its chair comes after the group has seen a change within their C-suite. Richard Buery, Jr. became Robin Hood's CEO in June 2021 after Wes Moore departed and later announced a campaign to be Maryland's next governor. The latest polling in that race shows Moore ahead of his Republican opponent Dan Cox by at least 22 points.

McCormick will assume her new role in February.

The Robin Hood Foundation has donated more than $3 billion over the last three decades to groups that fight poverty, making it one of the more influential and well financed nonprofits in the country, according to its website. Millions went to groups last year such as Acumen, Charles B. Wang Community Health Center, Children's Aid and the Fund for Public Health in New York.