Skip to main content
Enter search terms below…

Member News

Pursuit Announces Chief Executive Officer Succession Plan



President and CEO Pat MacKrell to Retire; New President and Leadership Team Announced

Following a 20-year career with Pursuit, a leading provider of alternative business financing, President and Chief Executive Officer Pat MacKrell has announced his retirement effective December 31, 2021. Pursuit is pleased to announce a succession plan that draws from the organization’s experienced leadership.

Pat will continue to serve as chief executive officer until his retirement. Tom McHale, senior vice president and a 23-year veteran of Pursuit, will assume the role of president effective January 1, 2021. Tom will succeed Pat as chief executive officer effective January 1, 2022. Other key leaders will join Tom in roles critical to the succession plan:

  • Jim Conroy, senior vice president and regional president for Upstate New York and Pennsylvania, will serve as executive vice president and president of Pursuit CDC, the Pursuit affiliate that administers the SBA 504 loan program.
  • Bryan Doxford, senior vice president, will serve as executive vice president and chief operations officer in addition to retaining his role as president of Prudent Lenders; Pursuit’s lender services provider affiliate.
  • Jim Goldrick, senior vice president and regional president for Metro New York and Long Island will serve as executive vice president and as Regional President over a substantially expanded region to be announced.
  • Chris Levy, senior vice president, will serve as executive vice president and head of credit, overseeing Pursuit’s underwriting teams and credit policies.

Pat has served as president and chief executive officer since 2005. During his tenure, Pursuit grew its managed portfolio to more than $2.3 billion, expanded into New Jersey and Pennsylvania, launched a CDFI affiliate to serve low-and-moderate income borrowers, and established a lender service provider affiliate (Prudent Lenders) to provide loan processing and servicing for SBA lenders nationwide. Pursuit also led numerous successful programs to address unique small business challenges, including responses to 9/11, the Great Recession, Superstorm Sandy, and COVID-19.

Commenting on Pat’s retirement and Pursuit’s succession plan, Herbert G. Chorbajian, chairman of the board of Pursuit CDC and Daryl R. Forsythe, chairman of the board of Pursuit BDC, jointly said: “Pat has been a steadfast proponent of access to capital for businesses throughout his career, and we thank him for his tireless service. Under Pat’s leadership, Pursuit has helped thousands of businesses grow, create generational wealth, and contribute to local job creation. We have the utmost confidence that Pursuit’s new leadership has the experience and dedication required to carry forth this vision and commitment to mission.”

Commenting on the president and management team’s appointments, outgoing chief executive officer Pat MacKrell said: “It has been a tremendous honor to serve as president and chief executive officer of Pursuit alongside our hardworking team. I am thrilled to be working with this leadership group over the next year to ensure a successful transition and to position Pursuit to continue to respond to the needs of business owners for years to come. Tom will be an exceptional ‘leader of leaders’ and this group will accomplish much on behalf of business owners in the communities we serve.”

Reflecting on his appointment, Tom McHale said: “I’m honored to be leading the Pursuit team. Jim, Bryan, Jim, and Chris—as well as our entire staff—bring decades of experience and immeasurable commitment to their work. Together, we will be focused on continuing to advance our long-standing mission while continuing to innovate to ensure business owners’ financing needs are met.

Pursuit was established as New York Business Development Corporation in 1955. The organization’s work has since grown to include Pursuit CDC (formerly known as The 504 Company), a Certified Development Company, Pursuit Community Finance (formerly known as Excelsior Growth Fund), a U.S. Treasury Certified Community Development Financial Institution, Prudent Lenders, a national lender service provider and Excelsior Local Development Corporation.

Introducing PK Pods — Insights + Advice to Navigate Today’s Workplace ProKnowledge LLC, a professional development training and consulting firm based in Upstate New York, provides professionals a new resource when navigating workplace situations and challenges through its new podcast, PK Pods: Insights + Advice to Navigate Today’s Workplace.…
Mayor Patrick Madden today announced the City of Troy has received a $400,000 grant to create its first official connection to the recently completed Empire State Trail. The grant is provided from the Hudson River Valley Greenway to create a separated trail across the Green Island Bridge that will link the Collar City’s existing urban bike and…
This week, Capital Regional Pharmacy Services and SEFCU are hosting a pop-up, appointment-only, COVID-19 vaccination clinic for employees and other qualified New Yorkers ages 16 and over. Capital Regional Pharmacy Services has been administering vaccines across the region and will continue its effort to help New Yorkers get vaccinated by operating…
Apr
13
Get connected, develop leads and build relationships at our NetworkingPlus events - now in a virtual format! Our virtual NetworkingPlus will mirror the…
9:00 a.m. - 10:00 a.m.
Apr
13
Join our virtual Open House for The Leadership Institute: Class of 2022! Get your questions answered and hear from former Leadership Institute alumni on…
3:00 p.m. - 4:00 p.m.
Apr
20
Join our virtual Open House for The Leadership Institute: Class of 2022! Get your questions answered and hear from former Leadership Institute alumni on…
9:00 a.m. - 10:00 a.m.