Matt Gambs of Naperville, an executive for one of Chicago's largest banks and the former CEO of Diamond Bank, is one of 12 candidates running for a position on the College of DuPage (COD) Board of Trustees.
Gambs said the challenges he faced at Diamond Bank are similar in scope to those confronting the College of DuPage.
"The bank was in trouble for a variety of reasons that pre-dated my tenure as CEO, but mismanagement and poor financial oversight, combined with the financial collapse, strained the bank’s balance sheet," Gambs said. "I took a number of steps to initiate the turnaround, including self-reporting issues of non-compliance with our regulator."
Gambs said this experience fixing complex problems in the private sector is lacking on the COD board.
"We solved the bank’s issues and negotiated the sale of the business, as a going concern," Gambs said. "This was done at no cost to taxpayers or the federal banking system, after an intense realignment of the bank’s balance sheet, capital structure and development of a viable business plan during the financial collapse.
"Fixing Diamond Bank without needing a government for a bailout in the financial collapse, required financial, management and business acumen," Gambs said. "I believe turning around COD will require those same skills."
Gambs currently serves as a trustee for his alma mater, Regis University.
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