Steven A. Sugarman founded The Change Company in 2017.
The Change Company is a Community Development Financial Institution certified by the United States Department of Treasury and the State of California to expand access to lending and banking to Black, Latino and low-income borrowers and communities. The Change Company currently has financial partnerships with over 75 banks, insurance companies, asset managers, and socially responsible corporations such as Netflix. The Change Company offers its proprietary technology, lending, and banking products digitally, in partnership with over 1,000 non-bank lenders, and through its main operating subsidiaries Change Lending, ChangeFi, Change AMC, Change Escrow, and Change Home Mortgage. The Change Company was awarded the Best Leadership Team, Best CEO for Diversity 2021, and Best CEO for Women 2021 by Comparably in July 2021.
Mr. Sugarman previously founded Banc of California (NYSE: BANC) and served as the Board Chair, Chief Executive Officer and President until 2017. Under Mr. Sugarman’s leadership, Banc of California was recognized for leading one of Forbes Magazine’s Top Banks in America, Fortune Magazine’s Fastest Growing Companies and as the largest, independent bank in California with an Outstanding rating from the Office of the Comptroller of the Currency for Community Development.
Mr. Sugarman pioneered Banc of California’s extensive community-oriented financial literacy program in partnership with non-profit, community and faith-based organizations and universities throughout Southern California. In 2014, Mr. Sugarman alongside President Bill Clinton and Mayor Antonio Villaraigosa helped to set two Guinness World Records for the world’s largest financial literacy event.
In 2011, Mr. Sugarman led the recapitalization of COR Clearing (a securities clearing firm) and served as its Board Chair and the Chief Executive Officer of its holding company until its successful sale to Axos Bank in 2019. Mr. Sugarman is also the founder and Managing Member of investment firm COR Capital LLC and was a founding Partner of GPS Partners LLC, a $2 billion investment advisory firm.
Mr. Sugarman is Of Counsel to the law firm Michelman & Robinson where he serves clients within the Banking and Financial Services industries. He also served as General Counsel of the National Diversity Coalition from 2017 to 2020. Mr. Sugarman is a board member of Los Angeles Team Mentoring (LATM) where he was the recipient of the LATM Keystone Award in 2014. Mr. Sugarman was awarded the Giraffe Award for leadership relating to public service and community development by the National Asian American Coalition and the National Diversity Coalition in 2015. He also received the Outstanding CEO Award from the Korean American Chamber of Commerce of Orange County in 2015 and received the Bayanihan Award in 2017 as part of The Outstanding Filipinos Awards.
Mr. Sugarman is a California Real Estate Broker and member of the California State Bar. He founded Sugarman Enterprises Inc., a financial advisory firm specializing in real estate advisory, brokerage, and lending as well as the Law Offices of Steven Sugarman, Inc. Mr. Sugarman began his career as a management consultant at McKinsey & Company and worked at Lehman Brothers. He is the co-author of The Forewarned Investor: Don’t Get Fooled Again by Corporate Fraud, published by Career Press. Mr. Sugarman is a graduate of the Yale Law School and Dartmouth College.