Daily News: September 23, 2014

Amalgamated Appoints Former White House Official

Amalgamated Bank announced Molly Culhane-Benameur was selected to lead the bank’s growing practice serving candidates, political action committees and other organizations focused on electoral campaigns. In addition to her work in the White House, Culhane-Benameur has held senior financial roles in President Obama’s political organization, serving as budget director and deputy CFO for the president’s reelection campaign, CFO of Organizing for America and Deputy Budget Director for the reelection inaugural committee.

“Molly has a tremendous combination of financial, political and business acumen that will be a great asset during this exciting time for Amalgamated,” said Keith Mestrich, Amalgamated Bank’s president and CEO. “With her experience managing the finances of the presidential campaign that raised more money than any other in history, Molly has the skills to advise campaigns on their finances, and her leadership will enable us to take them to the next level.”

As budget director and deputy CFO for Obama for America from September 2011 to December 2012, Culhane-Benameur developed and oversaw a budget of over $1 billion. This work included developing financial reporting systems, processes that measured spending efficiency and models for forecasting unchartered revenue streams — expertise that will be a significant resource for Amalgamated’s political banking clients. Similarly, during her time as CFO of Organizing for Action, the nonprofit devoted to supporting President Obama’s policy priorities, Culhane-Benameur developed, planned, and maintained the central financial reporting and management required for 501(c)4 organizations.

“I am thrilled to join the nation’s preeminent progressive financial institution,” Culhane-Benameur said. “Amalgamated provides the top-notch financial services that enable modern campaigns to thrive, while supporting the values of the progressive community. I can’t wait to work with Amalgamated to help even more organizations fight for the kinds of change we need today.”

Most recently, Culhane-Benameur was the chief of Operations Services in the White House’s Office of Administration, managing the department that provides business services for the White House. Before joining Obama for America in 2011, Culhane-Benameur spent nearly a decade at Boeing working as an analyst and financial specialist, serving in senior financial oversight roles and co-managing its largest corporate account.