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Charleston Business

The Business Narrative: New SC Chamber Leadership

Sep 03, 2024 09:37AM ● By Donna Walker

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Mike Brenan Hired As President, CEO of South Carolina Chamber of Commerce

The South Carolina Chamber of Commerce’s Board of Directors has voted to hire Mike Brenan as the organization’s new president and CEO.

 

The organization also announced significant changes in executive-level staff positions.

 

“Soon after Mike took on this challenge on an interim basis, it became clear that he was the right person to lead the Chamber more permanently as we adapt to further amplify the voices of South Carolina’s business community,” said Will Whitley of Michelin North America and S.C. Chamber Board Chair.

 

Whitley added, “Mike’s unique experience in business and nonprofit leadership, along with his history of service to our state, will serve our members – small and large, new and old – extremely well in the future.”

 

“With the incredibly talented team we have in place, the leadership of our members, and the state’s strong economy, the South Carolina Chamber of Commerce has a great opportunity to be the premier business-minded advocacy organization in the nation, and that’s exactly what we expect to become,” Brenan said.

 

A stalwart of South Carolina’s business community for decades, including his time on the Chamber’s Board of Directors and as chair, Brenan spent decades in South Carolina’s banking industry before retiring in 2023 as the regional president for the South Carolina Region of Truist Bank.

 

Brenan received the Humanitarian of the Year Award from the United Way of the Midlands in 2012, he has served on the boards of the South Carolina Philharmonic, the United Way Association of South Carolina, the Governor’s School for Science & Mathematics Foundation, the Moore School Business Partnership Foundation, the South Carolina Independent Colleges & Universities Foundation, the South Carolina State Board of Education, and many more. 

Executive Staff Changes

Among the first things Brenan did upon assuming leadership of the Chamber was to make significant staff changes at the executive level of the organization, including:

 

* Cynthia Bennett, who has served in numerous roles at the South Carolina Chamber of Commerce for over 25 years, has been named executive vice president and chief operating officer.

 

Immediately prior to the promotion, Bennett served as the organization’s chief diversity officer and executive of the SC Chamber of Education and Workforce Foundation.

 

* Will Frierson, who has served as the Chamber’s vice president of Government Affairs since 2021, has been named executive vice president and chief Government Affairs officer.

 

Prior to joining the Chamber, Frierson was the Government Relations manager for the National Cotton Council of America, where he assisted in coordinating the Washington, D.C. activities of the NCC and oversaw the organization’s political activities.

 

* Lowndes Macdonald has been named executive vice president and chief revenue officer.

 

Having been in executive fundraising roles for nearly 15 years, Macdonald will lead all revenue-generating efforts for the organization including through member recruitment and retention, along with other fundraising efforts.

J.P. Morgan Real Estate Income Trust, Inc. Closes on Loan for Multifamily Mid-Rise in Charleston, SC

J.P. Morgan Real Estate Income Trust, Inc. (JPMREIT) announced the closing of a $62.4 million mortgage loan to an affiliate of NYC-based private real estate firm Raith Capital Partners to finance the acquisition of Satori West Ashley, a 297-unit multifamily property located in Charleston, South Carolina.

 

This represents JPMREIT's second real estate debt investment. Upon closing, this transaction grows JPMREIT's portfolio allocation to income-focused real estate debt to approximately 18 percent, officials said.

 

Built in 2023, Satori West Ashley is a Class-A, mid-rise multifamily property on John's Island within the West Ashley submarket of Charleston.

 

The property features an extensive amenity package, including a clubhouse with a saltwater pool, grill areas, a fitness center, and a movie theater.

 

"We continue to have high conviction in the multifamily sector, especially in markets with expected population growth and a waning construction pipeline," said Doug Schwartz, co-president of JPMREIT.

 

Schwartz added, "This transaction demonstrates our ability to invest across the capital structure to deliver attractive returns to our stockholders."

Changes To Blue Crab Laws Coming In 2025

If you enjoy tossing a line or pot out for blue crabs, the South Carolina Department of Natural Resources (SCDNR) wants you to be aware of a few changes coming to the fishery in 2025.

 

The South Carolina Legislature recently passed a suite of changes to blue crab laws to help ensure the sustainability of the fishery.

 

Most of the changes pertain to the commercial blue crab fishery and address ways to prevent overexploitation of the fishery, which remained largely unregulated in South Carolina over recent decades.

 

Officials said the modifications will bring South Carolina’s laws on par with neighboring states, and commercial crabbers have been notified of the impending changes.

 

According to SCDNR, the following changes will impact recreational crabbers:

 

      1. Recreational crabbers may harvest a limit of one bushel of crabs per person per day or two bushels per boat. Previously, South Carolina had no harvest limit. Research suggests that most recreational crabbers harvest well under a bushel of crabs daily.

 

      2. All crab pots must have escape rings for undersized crabs; single-chambered crab pots must have at least one escape ring, while two-chambered pots must have two rings, at least one of which must be in the upper chamber.

 

These vents/rings provide a means of escape for undersized crabs and other small marine animals. They were already required in commercial traps, and many recreational traps are already sold with escape rings standard.

 

If you need to retrofit an older crab pot, plastic escape rings are available at many tackle shops and are easy to install, officials said.

 

      3. Recreational crabbers may purchase an annual enhanced recreational crab trap endorsement ($5) to fish up to five crab pots. A recreational saltwater fishing license currently allows holders to fish up to two crab pots.

 

For those individuals who like to crab for family and friends but do not intend to sell them commercially, this new endorsement will allow up to five crab pots per person.

 

These changes will take effect on July 1, 2025.

United Bankshares, Inc. Elects Dr. Sara DuMond to its Board of Directors

United Bankshares, Inc. (NASDAQ: UBSI), a $30 billion regional financial services company, announced the appointment of Sara DuMond, MD, to its board of directors, effective Oct. 21, 2024.

 

DuMond is a practicing board-certified pediatrician and the founder and chief executive officer of Pediatric Housecalls, PLLC.

 

She graduated summa cum laude from West Virginia University with a bachelor’s degree in physical therapy and went on to earn her medical degree from the West Virginia University School of Medicine with Alpha Omega Alpha distinction, the highest honor society for physicians in the U.S.

 

She completed her residency in pediatrics at Carolinas Medical Center in 2003 and practiced general pediatrics at a private group practice in the Lake Norman, N.C., area before establishing Pediatric Housecalls in 2011.

 

 

DuMond is a fellow of the American Academy of Pediatrics and a member of the North Carolina Medical Society and Mecklenburg Medical Society.

 

In addition to managing her clinical practice, she has served on numerous advisory boards as an advocate for evidence-based child health information. She lives in Charlotte, N.C. with her husband David and their three children.

 

As of June 30, 2024, United had consolidated assets of approximately $30 billion and is the 38th largest banking company in the U.S. based on market capitalization.

 

United is the parent company of United Bank, which comprises more than 225 offices located throughout Washington, D.C., Virginia, West Virginia, Maryland, North Carolina, South Carolina, Ohio, Pennsylvania, and Georgia.

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