By Andrew Hall
AFRO Intern
Watchen Harris Bruce is retiring as president and CEO of Baltimore Community Lending (BCL). Bruce has over 35 years of experience in the finance industry and has served in leadership roles at the local, national and international levels.
Nationally, Bruce has served as vice president at several national banks, including JPMorgan Chase, Fleet Bank and PNC Bank. She is a board member of African American Alliance of CDFI CEOs and a Consumer Advisory Board member for the Consumer Financial Protection Bureau (CFPB). In 2019, Bruce became the new CEO for BCL.
In an interview with the AFRO, Bruce explained the purpose behind her passion.
“I always wanted to help people help themselves,” said Bruce. “The goal was to help people of color access capital, but also provide capital to help them build their businesses and train them on how to deploy the capital. So it’s more than just giving capital.”
Under Bruce’s guidance, BCL has gained national prominence. According to former BCL Board of Directors Chair Michael Tagg, the organization has deployed $65 million in capital and has issued over 200 small business loans with Bruce at the helm. Additionally, Tagg said, since 2019, the company’s total assets have grown from $24 million to $54 million, while net assets have also increased, from $13 million to $18 million.
“The organization would not be where it is today if not for Watchen,” Tagg said. “Her vision, leadership, passion, persistence and laser focus on our mission, community, strategic goals and our growth plan are unmatched. It’s gotten us to where we are today.”
“The organization would not be where it is today if not for Watchen. Her vision, leadership, passion, persistence and laser focus on our mission, community, strategic goals and our growth plan are unmatched. It’s gotten us to where we are today.”
– Michael Tagg, former chair, Board of Directors for Baltimore Community Lending.
Tagg continued by commending Bruce’s leadership as the organization navigated the COVID-19 pandemic.
“By February of 2020, most businesses shut down. Most businesses went to virtual work. Watchen and her team immediately started working from home, up the processes, procedures and policies for how we would continue to serve our communities,” he said. “At that point in time, BCL was able to push out Paycheck Protection Program (PPP) money and other funds to businesses that desperately needed it.”
When asked what her greatest accomplishment was, Bruce noted the company’s move to its current headquarters in downtown Baltimore.
“We purchased this building … . It was my goal from day one that we would never be a tenant; we would not rent,” said Bruce. “We would own an asset, and this is the asset we own — 25,000 square feet. That took us to a whole other level because we own this … and there’s no debt.”
She said ownership demonstrates a commitment to the community.
“The ownership proves that you have a stake in the community. You are not a tenant … you are permanent,” she said. “We can bring the community here, we can bring customers here, and we also have our corporate office here. This is home for us.”
Calvin Gladney, BCL’s new president and CEO, is ready to continue building on the foundation Bruce established.
“We still have a lot of work to do to continue to hit those strategic planned goals. The Business Development and Resource Center still has some places to grow. We have the Watchen Bruce Neighborhood Revitalization initiative, which focuses on vacant properties in Baltimore,” Gladney noted. “There’s still some major parts of the vision that can evolve. I’m just trying to get those last pieces … of the puzzle in place, and then we can figure out what’s next.”
Gladney explained that his motivation for housing development stems from his upbringing. Growing up in Brooklyn, N.Y., he told the AFRO, he “always felt the need to fight with the fighters.”
Gladney’s past experiences working with Bridge Housing, the largest affordable housing developer in California, and as a professor teaching entrepreneurship at Georgetown University, have prepared him to lead BCL forward.
Bruce will remain on staff as a senior advisor until the end of 2026 with the goal of easing the transition at the helm.
Reflecting on her career, Bruce said she hopes her legacy is one of perseverance and commitment to the organization’s mission.
“People continue believing in what they do. If you want to do it, stick with it. Our mission is to revitalize vacant housing in Baltimore and have businesses start and expand,” Bruce said. “Where there’s a will, there’s a way, so I want people to always remember that when times are tough, they should focus on the mission.”
In retirement, she plans to spend time with her family, travel and continue connecting with the community.
