MassDevelopment Hires New Chief Financial Officer

August 10, 2026

Kelsey Schiller, 857-325-3477
kschiller@massdevelopment.com

BOSTON – Today, MassDevelopment announced that Bran Shim has joined the agency as executive vice president and chief financial officer. In this role, Shim will serve as a member of the agency’s executive team and provide enterprise-wide financial leadership and stewardship, including oversight of all financial and accounting functions for the agency.

“Bran Shim has spent more than a decade helping strengthen the Commonwealth's financial foundation through thoughtful public finance leadership,” said Economic Development Secretary Eric Paley, who serves as Chair of MassDevelopment's Board of Directors. “His experience and commitment to public service will help ensure MassDevelopment continues to be a strong partner in advancing economic growth, supporting communities, and expanding opportunity across Massachusetts.”

“Throughout his tenure with the Executive Office for Administration and Finance, Bran Shim has been a trusted source of strategic insight, deep budget expertise, and a steadfast commitment to public service,” said Administration and Finance Secretary Matthew J. Gorzkowicz. “My team and I are grateful for his contributions, and I look forward to seeing Bran continue to serve the people of Massachusetts alongside the exceptional MassDevelopment team.”

“Bran Shim has been a trusted and creative thought partner to our agency as the Executive Office for Administration and Finance’s designee on MassDevelopment’s Board of Directors since 2024,” said MassDevelopment President and CEO Navjeet Bal. “We are pleased to bring him on in the role of executive vice president and chief financial officer, where he will bring valued leadership and insight to our organization and to the businesses, nonprofits, and communities we serve.”

Shim comes to MassDevelopment from the Massachusetts Executive Office for Administration and Finance, where he has served as senior advisor, assistant secretary and state budget director, and finance director. He is a CFA charterholder and earned an MPA from the Harvard Kennedy School as a Governor Robert F. Bradford Fellow, an A.B. in statistics from Harvard College, and a diploma for double bass performance from the Juilliard School Pre-College Division. Shim is also an adjunct lecturer in public policy at the Harvard Kennedy School, where he focuses on financial management and urban policy, and volunteers as a human services commissioner and an associate member of the Board of Zoning Appeal in the City of Cambridge. Earlier this year, Shim was selected as one of America’s 250 Public Service Champions by the National Academy of Public Administration and Local Gov 250.

“I am honored to join the extraordinary team at MassDevelopment, which is uniquely positioned to promote a more equitable, affordable, and competitive Massachusetts,” said Bran Shim. “I look forward to working with President and CEO Navjeet Bal and the entire team to ensure MassDevelopment has the resources to optimize, sustain, and scale our impact for everyone who calls Massachusetts home.”

MassDevelopment, the state’s development finance agency and land bank, delivers financing solutions, real estate expertise, and other assistance to strengthen and grow the Massachusetts economy. We partner with businesses, nonprofits, developers, banks, and municipalities, providing resources to help create jobs, build housing, and foster vibrant communities across the state. During FY2025, MassDevelopment financed or managed 409 projects generating investment of more than $4.65 billion in the Massachusetts economy. These projects are estimated to create or support 25,246 jobs and build or preserve 2,867 housing units.