Henry C. McKoy, Assistant Secretary - North Carolina Department of Commerce
Henry McKoy was appointed by Governor Beverly Perdue as Assistant Secretary of Commerce for the State of North Carolina in August 2010. At age 37, at the time of his appointment, he was among the youngest to serve in this post in North Carolina history and among the youngest in such a role across the United States. Prior to his appointment, he spent over 15 years in business and finance with more than 10 years in management, corporate finance, banking and technology for Central Carolina Bank, National Commerce Financial and SunTrust where he was an award-winning banking executive growing and managing several multibillion dollar business units. He has served as a University advisor, as a Community College instructor in the area of banking, as President of CASS Intelligence Networks and as Chairman and CEO of Fourth-Sector Financial, a financial-services firm that he founded in 2004 focused on community, energy and sustainability finance. He also has extensive community development experience having engaged with more than 150 nonprofits since 1993 including the International Special Olympics, Ronald McDonald House, United Way, Juvenile Diabetes Foundation, among others. He co-founded a nonprofit think tank with 3 others focused on applied research and the connections between poverty, economics, social innovation and entrepreneurial education in 1999 called the OneVoice Institute of Business and Entrepreneurship – or OneVibe.
Henry was born and raised in Fayetteville, North Carolina. He is the 4th of 6 children, and first son, born to Henry McKoy, Sr., a career soldier who retired as a Master Sergeant from the U.S. Army 82nd Airborne Division in 2004 and the late Belinda McKoy, who worked in the Physical Therapy field. His second eldest sister, Linda, is a 1990 Appalachian State University graduate and former Mountaineer track and field student-athlete. He visited Appalachian State for the first time as a 13-year-old when his parents dropped his sister off for her freshman year.
Mr. McKoy studied computer science and economics at UNC-Chapel Hill before entering Kenan-Flagler undergraduate business school where he graduated in 1995 with a Bachelor of Science in Business Administration, becoming the first and only student at the time to graduate from the 2-year program in only 1-year. At UNC-Chapel Hill he was a scholarship student-athlete on the track and field team where he was an All-ACC performer, 2-time NCAA All-America, and 1995 NCAA Champion. He is still a part of two school records that have stood for 16 years. The relay team he was part of was ranked #1 in the world in 1995 and he was a 2006 Inductee into the UNC Sports Hall of Fame.
McKoy started his banking career in 1995 as an analyst in the Commercial Loans Division for Central Carolina Bank where he worked with commercial developers with credit lines up to $300 million. A year later, at age 23, McKoy took over management of a 6-person, $3 million banking operation that was losing money. This challenge prompted him to build the bank’s first business intelligence system to utilize employee profit sharing as a growth strategy. Three-years later the division had grown to 2-states, over 30-people and a $3.5 billion banking operation that was the most profitable unit in the bank and ranked second in operational efficiency in the U.S. In 2001, at age 28, he was named an Officer of the bank, becoming the youngest ever in his division and youngest in the bank at the time. At age 30, he was named to Senior Vice President overseeing the Cash Services Division. In this position, he oversaw cash management for the bank’s entire footprint, again becoming the youngest in bank history to serve in that role. Using cutting-edge technology based on neural networks, his staff managed $17 billion a year in cash for 6,000 employees in 1,500 branches and cash networks across 13 states, which included ownership of 4 Spanish speaking banks, and partnerships with Walmart Stores, grocers Harris Teeter and Kroger. McKoy received 8 promotions within his first 7 years and numerous banking awards for his focus on customer impact, employee engagement, and organizational growth and success. In 2004, at age 31, McKoy left corporate banking to found two successful companies in technology and finance. Fourth-Sector Financial was one of the first organizations to focus on sustainable business financing.
McKoy oversees Commerce’s Community Development Division’s 5 programs (Appalachian Regional Commission; Community Investment and Assistance; Community Planning; Rural Development; Urban Development), which provide more than 500 small and less prosperous communities across the state with human resources and financial services to help them plan for growth, encourage economic development and address community needs. Commerce’s Community Development has invested over $1.3 billion in projects across the State of North Carolina over the last decade in projects as diverse as water and sewer infrastructure, historic downtown revitalization, affordable housing, small business development, construction, emergency response and non-profit development. He oversees nearly 90 employees in 6 offices across the state while managing a budget of over $100 million in 2010.
A tireless advocate for education, Henry is a former staff member of the University of North Carolina at Chapel Hill School of Education. He has served in professional advising roles for public school systems and universities. He has provided scholarships to students at Johnson C. Smith University in Charlotte, North Carolina Central University in Durham, and in April 2010 established an Endowed scholarship for teaching at Fayetteville State University to support current and prospective students to the FSU School of Education in memory of his late mother-in-law Ruby Smith Wilkerson.
McKoy has served as a member of the state’s Economic Development Board; the state’s Energy Policy Council; the North Carolina Council on Economic Education; the U.S. Responsible Endowments Coalition; the U.S. Congressional Black Caucus Green Roundtable; as well as numerous other governmental, local, state and national non-profit and community boards and task forces. He currently serves on the North Carolina Community College Foundation Board, the State Water Infrastructure Commission, the Johnson C. Smith University STEM Education Advisory Board, the Fayetteville State University Business School Advisory Board, the Fayetteville State University School of Education Advisory Board, the Southern Growth Policies Board, State Advisory Board of North Carolina Community College Completion by Design Initiative (Funded by 5-year Gates Foundation grant), and the North Carolina Financial Literacy Council. He has formerly served on over 30 public service boards including Durham Habitat for Humanity, Stop Hunger Now, Empowerment Community Development Corporation, SJF Institute, Carolina Pros and many others.
Henry has pursued graduate studies at Duke University in Environmental Management, Leadership and Policy. He was a 2003-2005 William C. Friday Fellow for Human Relations with the Wildacres Leadership Initiative, was invited as a visiting practitioner to the Santa Fe Institute in the mid-2000s, and was a 2010 News and Observer Tar Heel of the Week.
In June 2010, he was part of a bike racing team that competed in the 3,004-mile Race Across America from Oceanside, California to Annapolis, Maryland. The DurhamCares race team finished 4th overall in the actual race, which included serious competitors from all across the world, while also raising over $104,000 and 9,000 volunteer hours for 18 Durham-based charities during the 6 days of the race.
Henry has been married to Euba, a former North Carolina Teaching Fellows Scholar at the University of North Carolina at Chapel Hill and All-America track athlete, for 15 years. She is a secondary Math Education teacher by training, a 2007 Teacher of the Year in Durham, and currently manages the International Baccalaureate Program for Durham Public Schools. They have two children, Jamila Anne – age 11, and Jalen Anthony – age 9, and live in Durham.
McKoy is considered a thought leader in the areas of community and economic development, social innovation and entrepreneurship, energy finance and the green economy, sustainability and sustainable business development. He is a sought out national speaker.
|Henry C. McKoy, Jr.
Assistant Secretary of Commerce
- Community Development
North Carolina Department of Commerce
|301 N Wilmington St., 4301 Mail Service Center
Raleigh NC 27699-4301
Phone (919) 733-3447; Fax (919) 733-8356