Melissa Román Burch Exiting New York EDC to Run Schwarzman Foundation

Melissa Román Burch, chief operating officer of the New York City Economic Development Corporation (NYCEDC) since April 2022, will be leaving that post at year’s end to join the Stephen A. Schwarzman Foundation (SASF) as executive director, according to an announcement from the foundation.

“Melissa’s ability to lead transformative projects and deliver lasting impact aligns perfectly with the mission of my foundation,” Stephen Schwarzman, the foundation’s chairman and director, said in the announcement. Schwarzman is also chairman, CEO and co-founder of Blackstone Group, the world’s largest alternative asset manager with over $1 trillion in assets under management. “I am excited to partner with her as we build out new initiatives and set SASF up to be a major philanthropic force in the decades ahead.”

With both a bachelor’s degree in government and an MBA from Harvard University, Burch has held high-level positions in commercial real estate for over 20 years, working at the former Forest City Ratner — where she managed the development of Brooklyn’s Pacific Park — and Lendlease before joining NYCEDC, where she oversaw a portfolio of over 200 properties totaling 64 million square feet. 

“At NYCEDC, Burch spearheaded major economic development transactions, initiated public-private investments, and positioned city assets to catalyze growth in life sciences, advanced manufacturing, technology and clean energy,” according to the announcement.

Schwarzman is one of the world’s largest donors, with over $1 billion donated worldwide to date. The foundation is currently the primary vehicle for his charitable contributions, which “seek to tackle complex global challenges with transformative solutions.”

Some of the foundations more transformational donations include:

• $350 million to the Massachusetts Institute of Technology to establish the Schwarzman College of Computing, which integrates computing and artificial intelligence across academic disciplines while addressing the ethical and societal implications of technology. 
• 185 million British pounds (around $250 million U.S.) for the creation of the Schwarzman Centre for the Humanities at Oxford University, with the purpose of helping to redefine the study of the humanities for the 21st century, including an Institute for Ethics in AI. 
• $150 million to Yale University to create the Schwarzman Center, a “state-of-the-art student life and cultural center designed to serve as a gathering place for the entire university community, enhancing student engagement and fostering dialogue across disciplines.”

“Steve’s exceptional vision and commitment to investing in education, culture, innovation and civic life have resulted in transformative impact across continents,” Burch said in the announcement. “I am honored to be named executive director of the Stephen A. Schwarzman Foundation and to work with our partners to deepen the effectiveness of our investments, strengthen the organizations we support, and expand the foundation’s reach.”

 Larry Getlen can be reached at lgetlen@commercialobserver.com.