Cedric D. Thurman

Cedric D. Thurman joined the Federal Home Loan Bank of Chicago as Senior Vice President/Chief Diversity Officer in September 2018. He became Senior Vice President, Group Head, Community Investment and Diversity and Inclusion in January 2020, and was promoted to Executive Vice President in 2021. In his role, Mr. Thurman is responsible for shaping the Bank’s culture to provide opportunities for all employees and help the Bank be a catalyst for change for its member institutions and the communities they serve.  Mr. Thurman’s team is also responsible for providing financing and direct funding tools to support members’ affordable housing and economic development initiatives. By using the Bank’s products individually or in combination, the Bank’s members and their community partners can create economically competitive solutions that contribute to the quality of life in the communities they serve.

Prior to joining FHLBC, Cedric was the Founder and CEO of Talks Inc., a not for profit organization being developed to provide life skills programming for youth via video-based conversations.  The programming is designed to instill confidence, improve decision making and develop maturity.

Prior to developing Talks Inc., Cedric served as the US Head of Inclusion at BMO Harris Bank.  In this role, Cedric was responsible for the diversity and inclusion strategy for the US, while also overseeing BMO’s Enterprise Resource Groups in the US and Canada, as well as compliance related activities.  Cedric began his career at BMO Harris, spending nearly 10 years in a variety of roles from International Trade Finance, Community Development Lending, Branch Management & Development and working on special projects for senior leadership.  Prior to re-joining BMO Harris, Cedric spent 14 years at JLL in office and retail brokerage capacities, as well as leading HR strategy for the Americas region.  Cedric also served as JLL’s first Chief Diversity Officer, where he created and implemented a multi-year, multi-phased strategic plan that defined, assessed, nurtured and cultivated a culture of diversity and inclusion.

Cedric is very active in Chicago’s civic community.  He currently serves on the Governing Board of UCAN, where is Vice Chair and also Chairs the Diversity Advisory Board; Advisory Board of Urban Initiatives; Board of Directors, Leadership Greater Chicago, where he also serves on the Finance Committee; University of Illinois Gies College of Business Dean’s Business Council; Board of Directors, University of Illinois Alumni Association, where he serves as Chair of the Finance Committee;  member of the President’s Council for the Museum of Science and Industry, where he currently serves as Co-Chair for the Museum’s Black Creativity program; Co-Chair of the Financial Services Pipeline Initiative, a collaborative of nineteen financial services firms in Chicago focused on increasing diversity in the financial services industry; and Commissioner, Illinois Attorney Registration and Disciplinary Commission (ARDC) of the Supreme Court of Illinois, where he serves as Chair of the Talent Management and Engagement Committee.

Mr. Thurman has been recognized for his professional accomplishments by University of Illinois Gies College with the Alumni Appreciation Award; Crain’s Chicago Business as a 2021 Notable Executive in Diversity, Equity, and Inclusion; Chicago United 2021 Business Leader of Color; Diversity MBA Magazine as one of the Top 100 Executives Under 50; Savoy Magazine as one of the Top Diversity Executives; Kellogg School of Management’s Black Management Association as Alumnus of the Year; Chicago Defender Men of Excellence; UCAN Diversity Advocate of the Year; and twice recognized in Who’s Who in Black Chicago.

Mr. Thurman holds an M.B.A. in Management Strategy and Marketing from Northwestern University’s Kellogg School of Management and a B.S. in Finance from the University of Illinois, Urbana-Champaign.

Cedric is married to Michelle Speller-Thurman, the Vice President of M&A and Licensing for Organon, and also a proud graduate of the University of Illinois Gies College of Business and Northwestern University.  They are the proud parents of a son, Cedric Alexander, an art director in the advertising industry.