David Grimaldi - CEO Biography

A Queens, NY native who resides in New Castle County, Delaware, David Grimaldi began his tenure as Elmark’s Chief Executive Officer in 2017. Prior to Elmark, David was Chief Administrative Officer of New Castle County Delaware, Managing Director of US Real Estate at China Minmetals, CFO of Delaware’s Police Athletic League, & President of Firestone Hotel Group. He began his career on Wall Street as Financial Advisor at Morgan Stanley, where he was ranked #1 in his national peer group for all 5 years with the firm.

As CAO of New Castle County, he oversaw the day-to-day operations of Delaware’s largest municipal government, consisting of 2,000 employees in 12 departments. David was the Chief Administrator of the operating, and long term capital budgets, of $250 million and $1 billion, respectively.

In the absence of the elected executive, David was the Acting County Executive of New Castle County.

David Grimaldi was named Top 40 Under 40 by Delaware Business Times in 2015 for his accomplishments at New Castle County, which include:

A major financial turnaround, which ended a near decade streak of annual deficits thereby producing back-to-back years of surplus.

The first ever Comprehensive Economic Development Plan.

Comprehensive Ethics Reform, which requires all government officials to publicly disclose family members employed by, or receiving money from, New Castle County Government. It also requires all government officials complete mandatory annual ethics training.

The restructuring of nearly $200 million of debt, which saved county taxpayers $12 million in debt service payments

The  Open Government Platform, which for the first time ever, listed all government spending on the government website.

Increasing the county-wide minimum wage to $10.10 per hour, to ensure all employees earned a livable wage

The first ever anti-nepotism policy, aimed at promoting a fairer and more professional work environment

“The Heroin Trap,” a marketing campaign which targeted at risk children, to counter the effects of Delaware’s heroin epidemic

Leading the County’s efforts in securing thousand of jobs with the expansion of JP Morgan, and the retention of Dupont spinoff Chemours.

The architect of a $15 million deal, with former NYSE CEO Richard Grasso and former UBS CEO Joseph Grano, to bring a new stock exchange to Wilmington Delaware.