February 2, 2021

The Biden-Harris administration on Tuesday said it has chosen David Marchick as new Chief Operating Officer of the U.S. International Development Finance Corporation, effective immediately.

Marchick is part of a new leadership team that includes Sarah Fandell as General Counsel, Algene Sajery as Vice President of the Office of External Affairs, Kyle Murphy as Senior Advisor to the CEO, Michelle Czarniak as Deputy Chief of Staff, and Alex Francés as Special Assistant to the CEO chosen to lead the DFC.

Welcoming the new leadership team, Acting DFC Chief Executive Officer Dev Jagadesan said the new hires bring a wealth of knowledge and expertise to their positions that will help advance DFC’s important development mission and guide the agency as it builds on its first year. “I know that they will work seamlessly with our talented and professional career staff as DFC moves forward its development mandate,” Jagadesan said in a statement.

The agency manages a $33 billion global portfolio targeted towards impact investments in developing countries. The DFC is America’s newest government agency with a mandate to partner with the private sector to finance solutions to the most critical challenges facing the developing world today.

DFC’s development finance efforts have a strong focus on investing in low-income communities around the world and helping vulnerable populations thrive, while advancing American competitiveness and foreign policy. Under the Biden Administration, DFC’s priorities will include financing projects that help address climate change and sustainable development by advancing a robust and growing portfolio of green energy projects and climate resilience investments. In partnership with the new administration, DFC will also support the global response to the COVID-19 pandemic, both by strengthening health systems, and increasing liquidity to businesses impacted by shutdowns.

As COO, Mr. Marchick will manage agency policies and overseas business operations, as well as coordinate strategy and priorities. Prior to joining DFC, Mr. Marchick served as Director of the non-profit, non-partisan Center for Presidential Transition where he worked with the Biden Transition Team, senior officials in the White House and engaged with more than 100 federal agencies on transition planning efforts.


Mr. Marchick comes to DFC with decades of investment and public policy experience. He spent 12 years at the Carlyle Group as Managing Director and as a member of Carlyle’s Management Committee. In these roles, Mr. Marchick led Carlyle’s regulatory and government affairs, communications and branding, events, research and sustainability functions, and had broad responsibility for engaging with Carlyle’s investors. Mr. Marchick was also a partner at and Vice Chair of the International Practice at Covington, where his practice focused on international trade, CFIUS, transportation, and legislative matters.

Mr. Marchick also held several positions within the Clinton Administration including Deputy Assistant Secretary of State for Transportation Affairs, Deputy Assistant Secretary for Trade Policy at the State Department, and Principal Deputy Assistant Secretary of Commerce for Trade Development.

The new members of DFC’s leadership team also include:

Sarah Fandell, General Counsel: Ms. Fandell brings over 25 years of leadership in development finance and business integrity in multicultural settings. She is joining DFC after serving as USTDA’s General Counsel since 2018, with a brief stint as the agency’s Acting Director. Ms. Fandell previously served as Vice President, General Counsel, and Corporate Secretary at the Millennium Challenge Corporation, where she also served as a member of the executive team and oversaw the Office of General Counsel. Prior to joining the MCC, Ms. Fandell was the General Counsel of the Inter-American Investment Corporation.

Algene Sajery, Vice President, Office of External Affairs: Algene Sajery, Vice President, Office of External Affairs: Ms. Sajery is a seasoned foreign policy and national security policy expert with over 20 years of legislative and political affairs experience in the U.S. Congress, political campaigns, and in the corporate and nonprofit sectors. Prior to joining DFC, she owned a small business specializing in strategic advisory services. From 2012-2020, Ms. Sajery served as senior foreign policy and national security advisor to U.S. Senator Ben Cardin. From 2015-2018 she concurrently served as Democratic Policy Director of the Senate Committee on Foreign Relations. Ms. Sajery previously held several leadership roles in the House of Representatives, including as Democratic Staff Director for the Subcommittee on Africa, Global Health, and Human Rights, Chief of Staff and Legislative Director to Congresswoman Yvette Clarke (NY), and Press Secretary to the late Congressman John Conyers (MI).

Kyle Murphy, Senior Advisor to the Chief Executive Officer: Mr. Murphy served at the White House between 2015 and 2017 as the National Security Council director for West Africa and as the acting senior director for Africa during the 2017 presidential transition. He also served as a senior analyst with the Department of Defense, where he managed department-wide programs and assessed political, security, and economic issues across Africa. Mr. Murphy began his career in government as a Senate staffer focused on energy, environment, and transportation policy.

Michelle Czarniak, Deputy Chief of Staff: Ms. Czarniak was a management consultant at Bain & Company, where she conducted due diligence for private equity firms and worked with clients on organizational design and large-scale transformations. She has spent twelve years as a Surface Warfare Officer in the U.S. Navy and Navy Reserve, serving abroad in Japan, Korea, and Bahrain and supporting missions across Asia, Europe, and the Middle East.

Alex Francés, Special Assistant to the Chief Executive Officer: Mr. Francés worked as an analyst for the 59th Presidential Inaugural Committee. Prior to this, he served on several electoral campaigns, including Biden for President and Kamala Harris for the People, as a finance vetting analyst, as well as a field organizer for the 2018 Florida Coordinated Campaign. Mr. Francés began his professional career in 2016 as a due diligence research manager for Exiger, specializing in Latin America regional due diligence.