David R. Cayemitte | Chief Executive Officer

Chief Executive Officer — Minority Business Development Institute (MBDI)
President — The Cayemitte Group, Inc. (TCG)

David is a seasoned leader with over three decades of experience in the corporate insurance sector. Since 2005, he has been a prominent figure in the Minority, Women and Veteran-Owned Business Enterprise (MWBE, SDVOB) market, consistently delivering innovative solutions that foster opportunities for diversely owned businesses, corporations, and public entities seeking to hire them.

In 2021, David founded Embrace Partners, Inc. (Embrace) with a clear business objective: align corporate America’s insurance distribution channels with supplier diversity goals for spending with MWBEs. Notably, Embrace stands as the first and only certified MBE wholesale insurance brokerage firm, boasting an E&S license to transact business in all 50 states, and open with most prominent E&S carriers in the US, London, and Bermuda. Simply by placing layers of their insurance programs through Embrace, clients and retail brokers capture diversity spending credits for their premium dollars. Embrace is uniquely positioned to assist corporations, public entities, developers, and prime contractors to meet diversity spending goals. Beyond its focus on wholesale brokering, Embrace operates as a tech-driven managing general underwriter (MGU) specializing in professional lines and surety bonding and runs capacity building education programs to cultivate project ready, bonded MWBE and veteran owned businesses in construction.

Prior to launching Embrace, David successfully led management and underwriting teams with Fortune 100 insurers, founded a retail brokerage firm and a 501c3 nonprofit that creates wealth building opportunities for marginalized community members. David’s career began at the industry giant, American International Group (AIG), and continued at Travelers, where he honed credit and financial analysis skills over a 21-year underwriting and executive leadership tenure. His wealth of experience and commitment to diversity make David a trusted partner in navigating the intricate landscapes of corporate insurance, and diversity contracting, ensuring tailored solutions that meet the unique needs of each valued client.

Michael M. Clay | Chief Procurement Officer

Michael oversees all procurement strategy and execution for Embrace Partners utilizing his experience to optimize processes, cultivate strategic partnerships, and drive sustainable growth. A prominent figure in the insurance and construction diversity sector, Michael brings over three decades of transformative leadership and public policy expertise. With a distinguished career, notably at DASNY, Michael has shown unwavering commitment to driving diverse economic growth in public and private sectors, as well as business communities across New York. His innovative initiatives, including New York’s inaugural statewide Surety Training program and the pioneering of New York’s first minority discretionary General Liability procurement, highlight his dedication to diversity and inclusivity.

Throughout his remarkable career, Michael has demonstrated a relentless commitment to fostering economic development and driving growth within the public and private sectors, particularly in the small business community across New York State. As a visionary senior executive, Michael has led pioneering initiatives that have reshaped economic landscapes and empowered small businesses while effectively managing risks.

Michael’s impact extends beyond procurement innovation. He has successfully managed the development and implementation of New York State’s inaugural Minority and Women-owned Business Enterprises (MWBE) technical assistance program, providing vital support to MWBEs involved in DASNY projects. His expertise in technology procurement has enhanced DASNY’s website, improving prime bidder and MWBE sub/supplier interaction to enhance agency-wide purchasing efficiency.

Most recently, Michael played a key role in the development of the innovative DASNY Capital Management Plan (CMP) in collaboration with partners Local Initiative Service Corporation (LISC) and the Cayemitte Capital Management team. This program offers MWBE/SDVOB subcontractors’ opportunities to qualify for bonding and project-specific capital access, setting a standard for inclusive procurement practices nationwide.

Liz Duncan, Esq. | General Counsel

Executive Director and Counsel
Minority Business Development Institute

Liz Duncan began her career underwriting financial and professional products at industry leader AIG in 1987. As Vice President of Financial Services at AON, she built a $1.5 million commission book of business, consulting clients on investor and employee relations and working with senior management to position and secure coverage for hard-to-place accounts. She analyzed financial, managerial and organizational structures of clients ranging from start-ups and IPOs to Fortune 100 corporations and Chapter 11 reorganizations.

Liz left insurance to attended Boston College Law School where she graduated magna cum laude. Under the tutelage of a prominent civil rights lawyer and professor, she worked on a team that launched a national campaign to end on-campus recruiting by employers that openly discriminated against LGBT applicants. She has clerked with a large national law firm, practiced privately and founded a community development consultancy. Liz is licensed to practice law in Massachusetts and New York.

In December 2010, Liz joined David Cayemitte, with whom she trained at AIG, to act as General Counsel to The Cayemitte Group (TCG), to manage the professional liability book of business and to help launch the Minority Business Development Institute. In her roles, Liz supports strategic initiatives to advance the notion that education coupled with hands-on support can provide the leg-up needed for diverse businesses to prosper. As they grow sustainably, these firms create jobs in neighborhoods that are often left behind, lifting families out of poverty and into the middle class.

Shashi Galabya | Chief Financial Officer

Shashi Galabya acts as Chief Financial Officer of Embrace Partners Inc., while also providing management oversight of Compliance and Human Resources. In managing the financial department of Embrace, Shashi oversees corporate financials and creates forecasts and budgets for the company, while maintaining data integrity.

Shashi has over 35 years of experience working at major Property & Casualty and Life & Health insurance carriers. In his most recent role, he was the CFO and Head of Compliance at a major carrier, helping them through a difficult financial and market regulatory examination period. He has also worked at PWC Advisory and Fitch ratings servicing insurers to respond to regulations and bring efficiency in their workplace.

Todd Middlebrook | National Program Director

At Minority Business Development Institute (MBDI), Todd is National Programs Director. After serving 25 years in the educational and events industry, Todd is excited to work at MBDI to advance the mission of diversly-owned businesses, including minority (MBE), women (WBE) and veteran-owned (SDVOB) businesses. MBDI was launched to prepare MWVBE contractors to become surety bond ready, and to support small businesses to grow sustainably.

MBDI’s mission is to advance the goals of diversly owned businesses. Todd works with governmental agencies, municipalities, and private corporations to create educational programs to support diversely owned businesses. Todd performs outreach for MBDI programs, develops structure and curriculum of classes, works with subject-matter experts to teach classes, engages with CEOs through 1-on-1’s, classes, and workshops from inception to graduation. Todd is a former Professor of Finance at Hofstra University. Todd holds degrees from The College of William & Mary, Hofstra University and Oxford University (UK).