The IBank is governed and its corporate power exercised by a board of directors consisting of the following persons or their designees:
Director, Office of Business and Economic Development
Lenny Mendonca is the Chief Economic and Business Advisor to Governor Gavin Newsom of California and Director of the Governor’s Office of Business and Economic Development (GO‐Biz). He is a Senior Partner Emeritus of McKinsey & Company and a Lecturer on Inequality at the Stanford Business School.
He founded McKinsey’s U.S. state and local public sector consulting practice. He also oversaw their knowledge development, Chairing the McKinsey Global Institute and the Firm’s communications, including the McKinsey Quarterly. He served for a decade on the McKinsey Shareholder Council (its Board of Directors). He retired in from McKinsey in 2014.
He was formerly the Chair of New America and Children Now, Co‐Chair of California Forward, and co‐founder and Chair of Fuse corps. He was the Vice‐Chair of Common Cause. He is the Chair Emeritus of the Bay Area Council and their Economic Institute, and was vice‐chair of the Stanford GSB Advisory Council. He was a trustee at the Committee for Economic Development. He served on the boards of Fidelity Charitable, Western Governors University, UC Merced, The Educational Results Partnership, The College Futures Foundation, California Competes, The Opportunity Institute, Commonwealth Club, National Association of Non Partisan Reformers, and The Guardian.org. He is a member of the Council on Foreign Relations, the Board of Trustees for Junior Statesmen of America, and the Advisory Boards of Y Analytics, QB3, the Haas Center at Stanford, Third Sector Capital, The CA Community College Chancellor’s Office, and the Public Policy Institute of California.
He received his MBA and certificate in public management from Stanford. He holds an AB, magna cum laude, in economics from Harvard.
He lives on the Half Moon Bay coast with his wife, Christine. They raised their two daughters, Allie and Rebecca, there and are the founders and owners of the Half Moon Bay Brewing Company, The Inn at Mavericks and the Pacific Standard Taproom. He also is Chair and primary owner of the Coastside News Group (Half Moon Bay Review).
Fiona Ma was elected California State Treasurer in November 2018. She previously served as Chair and Vice Chair of the California State Board of Equalization from 2015 to 2019, representing more than nine million taxpayers. There, she led historic reforms to increase efficiency and transparency at the agency. As a state legislator, she was the first and only Asian-American woman ever elected California Assembly Speaker pro Tempore, the second-highest ranking office in the Assembly. During her time as a legislator, she passed landmark legislation to ban toxic chemicals in children’s toys, protect small business-owners and expand opportunities for homeowners.
She previously served as a San Francisco Supervisor.
Fiona Ma is California’s 34th State Treasurer. She was elected November 6, 2018 with more votes (7,825,587) than any other candidate for Treasurer in the state’s history. She is the first woman of color and the first woman Certified Public Accountant to be elected to the position. Fiona is a licensed Certified Public Accountant in California since 1992 and holds a Bachelors Degree in Accounting from the Rochester Institute of Technology (NY), a Masters Degree in Taxation from Golden Gate University (SF) and an MBA from Pepperdine University.
Keely Martin Bosler
Director of the Department of Finance
Keely Martin Bosler was appointed as Director of the California Department of Finance by Governor Jerry Brown on August 2018. She serves as the Governors’s chief fiscal policy advisor. Prior to becoming Director, she served as Cabinet Secretary in the Office of the Governor from 2016 to 2018. Director Bosler served as Chief Deputy Director for Budget at the Department of Finance from 2013 to 2016. Director Bosler was Staff Director for the California State Senate Budget and Fiscal Review Committee from 2010 to 2013, where she was a consultant from 2004 to 2009.
She served as Associate Director for fiscal services at the California Department of Corrections and Rehabilitation Budget Management Branch from 2009 to 2010, and as a Fiscal and Policy Analyst at the California Legislative Analysts Office from 2000 to 2004. Director Bosler earned a Master of Science degree in applied economics from Cornell University.
David S. Kim
Secretary of the California State Transportation Agency
David S. Kim became the third Secretary of the California State Transportation Agency (CalSTA) on July 1, 2019 following his appointment by Governor Newsom in April 2019. In this role, Secretary Kim is responsible for oversight of 40,000 employees across eight departments, boards and commissions whose mission is to advance a safe, environmentally sustainable transportation system that maximizes mobility for all Californians. A longtime transportation leader with experience in the private sector as well as all three levels of government, Secretary Kim served as Vice President, Government Affairs for Hyundai Motor Company from 2017-2019.
Prior to this assignment, Secretary Kim spent nearly eight years in senior level roles at the U.S. Department of Transportation. He served as Deputy Administrator of the Federal Highway Administration (FHWA), the number two position in the agency. Additionally, he was FHWA’s Associate Administrator for Policy and Governmental Affairs and before that, spent two years as Deputy Assistant Secretary for Governmental Affairs in the Office of the Secretary of Transportation.
A native of Davis, California, Secretary Kim earned a B.A. in Political Science from Occidental College and a Master of Public Administration from the University of Southern California.
Retired State Legislator, Governor’s Appointee
Marc Steinorth is a local entrepreneur, small businessman, and retired state legislator. Twenty-one years ago, Marc founded Atlas Buying Group, Inc. which provides professional services to local businesses and corporations nationwide, helping them grow and create jobs.
Marc Steinorth was elected to the California State Legislature in 2014, and reelected in 2016, to represent the 40th Assembly District, which includes the communities of Rancho Cucamonga, San Bernardino, Highland, Loma Linda, and Redlands. Marc was successful in helping bring jobs and resources to the Inland Empire, including $300 million in infrastructure funding.
Prior to his service in the Legislature, Marc served as a City Council Member for the City of Rancho Cucamonga. During that time, Marc worked to faithfully carry out prudent financial decisions that reflect good stewardship of public monies by the City, on behalf of Rancho Cucamonga residents. These guiding leadership and management principles, Marc has developed, are drawn from his extensive experience as a successful entrepreneur and businessman. Marc Steinorth holds a BA from the University of California, Riverside in Political Science. He lives in Rancho Cucamonga with his two children, Madison and Mason.