Carole L. Brown Joins Joyce Foundation Board

The Joyce Foundation is pleased to welcome finance expert and civic and business leader Carole L. Brown to its Board of Directors.  

Brown had a decades-long career as one of the nation’s leading municipal finance investment bankers. She previously held the position of Chief Change and Risk Officer for the Asset Management Group for PNC Financial Services Group (PNC), one of the nation’s largest diversified financial services institutions. Brown also led PNC’s Asset Management Group from 2020 until August 2024, then served as a special advisor to PNC’s Chief Executive Officer until her retirement in January 2025. 

Brown has a long history of civic and public service in Chicago and beyond, including a tenure as Chair of the Chicago Transit Authority—the nation’s second largest transportation agency. She was also a member of the Northeastern Illinois Regional Transportation Authority, and a member of the Securities and Exchange Commission Fixed Income Market Structure Advisory Committee. Brown served as the City of Chicago’s Chief Financial Officer under Mayor Rahm Emanuel from 2015 to 2019.  

Brown is a member of Steppenwolf Theatre Company’s Board of Trustees and was recently appointed to the Board of Directors of Smurfit Westrock.  

"Carole brings exceptional financial acumen and policy-making experience to the Joyce Foundation, along with a deep commitment to our mission," said Joyce Board Chair Margot Rogers. "We look forward to the contributions she will make to our work." 

A native of Roanoke Rapids, North Carolina, Brown earned her undergraduate degree from Harvard University and her MBA from Northwestern University’s Kellogg School of Management.  

"Joyce’s legacy of funding evidence-based policy and research to help solve some of the region’s most critical issues is aligned with my values," Brown said. "I’m proud and honored to join this team and contribute to advancing this important work."