Building Chicago’s Bright Future: A Conversation with Michael Fassnacht

A seasoned business executive, marketing and strategic thought leader with more than 30 years of experience, Michael joined Clayco, one of America’s largest fully integrated design and engineering centric builder and real estate development firm across the commercial, industrial and residential sector as its first ever Chief Growth Officer and President of Chicagoland in early 2024. Prior to this role between, Michael led as President and CEO World Business Chicago, the City’s economic development organization, with more than 100 C-Suite executives from all over Chicagoland on its business centric board between 2020 and early 2024. The organization’s core focus is on growing its industry sectors by supporting the expansion of existing Chicagoland based companies and by attracting new corporate relocations to the region, all with a focus on equitable economic prosperity across all 77 neighborhoods and the region. Additionally, Michael worked alongside the Mayor’s Office as the Chief Marketing Officer to ensure that all marketing, branding, and business development activities for the city were aligned withMayor Lightfoot’s and then  Mayor Johnson’s economic growth plan focused on inclusive growth across Chicago’s 77 neighborhoods.

Michael Fassnacht has been a recurring figure in Chicago’s civic community and has led critical pro-bono work for the rebranding of the Chicago Public Library and its foundation, the city’s Amazon HQ2 pitch, the City’s Census 2020 activities and “Boards of Change”, an award-winning initiative to encourage residents to register to vote. Most recently, Michael served as a Co-Chair on Mayor Johnson’s transition sub-committee for Economic Vitaly & Equity. Additionally, he has been involved as a board member with ChooseChicago, Chicago Public Library Foundation, The Civic Consulting Alliance, CURRENT, The Poetry Foundation, and World Business Chicago while providing counsel to P33, and The Chicago Prize by the Pritzker/Traubert Foundation. Michael also serves as a 2022 Daniel Burnham Fellow.

Prior to his most recent role, Michael served for more than 10 years as CEO & President at one of the city’s oldest and most successful advertising agencies, Foote Cone & Belding (FCB). He led his agency to unprecedented international creative recognition and strong above-industry topline growth over his tenure. Over his long career, he has been recognized as a global expert in building and marketing brands. He started his corporate success trajectory at Lufthansa Airlines in Frankfurt, where he led the airline’s frequent flyer program, Miles & More, before departing to Silicon Valley where he was a successful start-up entrepreneur.

Michael was born in Germany and made his way stateside in college where he met his wife, Dr. Rhonda Duffaut. They currently reside in Chicago and have two children, Maya and Ryan.

Seth Green is the dean of the Graham School of Continuing Liberal and Professional Studies at the University of Chicago.

Before joining Graham, Green served as Founding Director of the Baumhart Center for Social Enterprise and Responsibility at Loyola University Chicago. During his tenure, the Center launched a top-ranked specialty MBA program, a globally significant award for social innovation in business, and an array of educational programs that annually engage more than 4,000 learners. Green also served as an Executive Lecturer in Loyola’s Quinlan School of Business, teaching classes on social entrepreneurship and receiving recognition as the Mission-Driven Faculty Member of the Year in 2021.

Prior to Loyola, Green led Youth & Opportunity United (Y.O.U.), a nonprofit organization that prepares low-income youth for post-secondary and life success. At Y.O.U., Green oversaw the fourfold expansion of programs and a $16.4 million fundraising campaign to build a state-of-the-art youth center. He also spearheaded two strategic planning processes, resulting in an enhanced program model and deepened impact. Alongside Y.O.U., Green taught courses on nonprofit management as an adjunct lecturer at Northwestern University.

Earlier in his career, Green worked as a consultant at McKinsey & Company, guiding private sector clients through strategy development and change management. A recipient of McKinsey’s Community Fellowship, he spent one year of his time at the firm supporting nonprofit clients, including the Gates Foundation and United Way.

Green speaks and writes on social innovation. His commentaries and research have appeared in the Christian Science Monitor, Fortune Magazine, the Journal of Business Research, and the Social Innovations Journal, and he previously served on the Editorial Review Board of the Business and Society Review. Green has been a featured guest on C-SPAN’s Washington Journal, MSNBC, and CNN, and his efforts have been covered by the New York Times, the Washington Post, and the Chronicle of Higher Education. In 2008, Utne Reader named him one of 50 “Visionaries Who Are Changing Your World.”

Green is civically engaged in Chicago, having served on the Campaign Cabinet of the United Way of Metro Chicago, the Impact Investing Advisory Council of the YWCA Metropolitan Chicago, the Advisory Board of Concordia Place, the Membership and Engagement Committees of the Economic Club of Chicago, and the Advisory Board of the Executives’ Club of Chicago.

A Marshall Scholar, Green holds a J.D. from Yale University, master’s degrees from Oxford University and the London School of Economics, and a bachelor’s degree from Princeton University.