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David Grimaldi (politician)

David Grimaldi (born March 26, 1978) is an American businessman based in Newport Beach, California. He is the former owner and CEO of Elmark[1] and the former Chief Administrative Officer of the New Castle County government in Delaware.[2]

In 2015, Grimaldi was named to the "Top 40 Under 40" list by the Delaware Business Times.[3]

Education

Grimaldi holds a Bachelor of Arts in Finance from California State University, Fullerton.

Business career

Grimaldi began his career as a Financial Advisor at Morgan Stanley in New York City. During his tenure, he ranked first in his national peer group and managed nearly $100 million in assets by the age of 30.[4] He served as an advisory board member of Morgan Stanley Children's Hospital in New York, where he organized quarterly Scholastic Book Fairs and reading events for patients.[5]

He later served as Managing Director at Minmetals, where he oversaw the U.S. Real Estate Investment Group.[6][7] He also served as President of Firestone Hotel Group. During this time, he managed the rebranding and renovation of the former Holiday Inn Wilmington into the Crowne Plaza Wilmington North.[8]

Government and politics

Campaign management

In 2012, Grimaldi served as Campaign Manager for Thomas P. Gordon. Gordon, whose previous political career had been impacted by a 2002 federal indictment, had unsuccessfully attempted a return to office in 2008 against Chris Coons.[9] In the 2012 election, Gordon challenged and defeated the Democratic party-endorsed incumbent, Paul Clark, in the primary election before winning the general election.[10][11] Gordon credited Grimaldi with facilitating his victory.[12]

New Castle County

Following the election, Grimaldi was appointed Chief Administrative Officer (CAO) of New Castle County. In this role, he managed the daily operations of Delaware's largest municipal government, supervising a workforce of 2,000 employees with a $250 million annual operating budget and a $1 billion long-term capital budget.[13]

Under his supervision, the county ended a period of annual deficits and produced two consecutive years of surplus.[14] Grimaldi also developed the county's economic development strategies.[15] This included a proposed deal with former NYSE CEO Richard Grasso and former UBS CEO Joseph J. Grano Jr. to open a venture stock exchange in Wilmington.[16][17] The plan was eventually abandoned following Grimaldi's departure from the county government.[18] Deficit spending resumed after his tenure.[19]

Prior to this, Grimaldi had served as Treasurer and Chief Financial Officer of the Police Athletic League of Delaware, where he worked with Thomas Gordon to restructure the organization's finances.[20][21]

References

  1. ^ "David Grimaldi, CEO Biography | Elmark Sign Company". 6 May 2018.
  2. ^ "Executive Office Staff - - New Castle County, DE". .nccde.org. Archived from the original on 2013-07-13. Retrieved 2013-09-09.
  3. ^ "David Grimaldi". 14 September 2015.
  4. ^ "Minmetals Promotes David Grimaldi as Head of U.S. Real Estate Investment Group". Prweb.com. Archived from the original on June 25, 2011. Retrieved 2013-09-09.
  5. ^ "Morgan Stanley Employees Bring Clifford to Morgan Stanley Children's Hospital". Free-press-release.com. Retrieved 2013-09-09.
  6. ^ "Minmetals Promotes David Grimaldi as Head of U.S. Real Estate Investment Group" (Press release).
  7. ^ "Minmetals, Inc.: Private Company Information - Businessweek". Investing.businessweek.com. Archived from the original on June 16, 2013. Retrieved 2013-09-09.
  8. ^ "Claymont hotel gets facelift to nab the traveling type". Pqasb.pqarchiver.com. 2010-08-25. Archived from the original on June 16, 2013. Retrieved 2013-09-09.
  9. ^ Chadderdon, Jesse. "Writer aims to bridge cultrural gap between U.S., China". Hockessin Community News.
  10. ^ Armstrong, Mellany (2012-09-12). "WDEL 1150AM - VIDEO: Tom Gordon defeats Paul Clark in county executive race". Wdel.com. Archived from the original on 2013-06-16. Retrieved 2013-09-09.
  11. ^ "Tom Gordon caps comeback; Bullock tops Protack". Delawareonline.com. Retrieved 2013-09-09.
  12. ^ Archived at Ghostarchive and the Wayback Machine: TOM GORDON PRIMARY VICTORY SPEECH. YouTube.
  13. ^ "Archived copy". Archived from the original on 2017-02-13. Retrieved 2017-02-12.{{cite web}}: CS1 maint: archived copy as title (link)
  14. ^ "NCCo officials project $8.4 million surplus". pqasb.pqarchiver.com. ProQuest 1516044270. Archived from the original on 2017-02-13.
  15. ^ "Stock Exchange backers seek county bonds for venture". Delaware Business Now. 27 July 2015.
  16. ^ "Stock Exchange backers seek county bonds for venture". Delaware Business Now. 27 July 2015.
  17. ^ "$15 million sought for planned Wilmington stock exchange".
  18. ^ "Wall Street CEOs end ties to del. Stock exchange plan". 9 December 2015.
  19. ^ http://nccde.org/ArchiveCenter/ViewFile/Item/1797
  20. ^ "The News Journal: Archives". Pqasb.pqarchiver.com. 2012-04-24. Archived from the original on June 16, 2013. Retrieved 2013-09-09.
  21. ^ "PAL working its way to financial fitness". pqasb.pqarchiver.com. ProQuest 1009023015. Archived from the original on 2017-02-13.
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