As chair of NYCEDC, Schlein will run the organization's 27-member board of business, community, nonprofit and academic leaders who shape the organization's agenda.
NYCEDC is a not-for-profit corporation that works to bolster growth, create employment opportunities and improve quality of life for New Yorkers. It helps create shopping areas, community centers, affordable housing, cultural centers and new parks, for example.
"New York City is powered by one of the strongest economic engines in the world — and our administration is committed to building an economic development agenda that helps lift up every resident," de Blasio said in a statement. "Michael knows every community and neighborhood — and I'm proud to bring him on as chair of NYCEDC."
Schlein has nearly 30 years of experience in international banking, management and public service. He is currently the president and CEO of Accion, a global nonprofit organization that seeks to build a financially inclusive world.
Schlein said he hopes to foster economic growth and opportunities for all New Yorkers.
"Mayor de Blasio has a clear vision for growing our city's economy in a way that lifts everyone up — and I believe EDC will be a powerful catalyst in turning that vision into reality," Schlein said in a statement.