Kevin Cohee net worth is one of the highest among celebrities worldwide. Recently he has gained much prominence and his overall profits are increasing daily.
His career spans decades: in 1995 he acquired a controlling interest of Boston Bank of Commerce; since then, he has served as chairman.
Early Life and Education
Kevin Cohee is the owner, chairman, and CEO of OneUnited Bank — the nation’s largest Black-owned bank – as well as founder of its first Black online bank in America.
He was born in Kansas City, Missouri to parents who valued sports. As a high schooler he participated in both football and baseball teams while receiving a football scholarship at University of Wisconsin.
After college, he worked for investment banking firm Salomon Brothers. With the money earned through this career he used it to purchase banks in African-American communities – beginning with Boston Bank of Commerce that he purchased and turned around before merging it with three other banks into OneUnited Bank in 2002 and eventually creating his network of six banks.
Cohee is a powerhouse in business and an advocate for Black economic empowerment. He currently leads OneUnited Bank, one of the nation’s largest Black-owned banks. His journey demonstrates tireless advocacy and strategic leadership.
After graduating from Harvard Law School with a juris doctorate, master of business administration, and bachelor of arts degrees, Cohee entered the finance industry as an investment banker at Salomon Brothers during the late 1980s. Subsequently he established Military Professional Services — which provided Visa and MasterCard credit cards to U.S. military personnel — before selling it off to First Chicago Corp in 1991 for a considerable profit.
In 1995, he acquired Boston Bank of Commerce and over the next seven years, acquired three more banks from African-American communities in Florida and California. Unifying these banks into OneUnited Bank has enabled its impressive growth and profitability.
Achievement and Honors
Kevin Cohee is the owner and chairman of OneUnited Bank, America’s largest black-owned bank and first black-owned internet bank. Additionally, Kevin serves as chairman of Boston Community Capital, a non-profit community development financial institution.
Cohee has recruited prominent investors such as Earvin “Magic” Johnson, Janet Jackson and Motown President Jheryl Busby as investors to finance his acquisition spree. His aggressive approach to urban banking has allowed BBOC to surpass New York-based Carver Federal Savings Bank as the nation’s largest black-owned bank, and more investments could soon follow suit.
Cohee is an Alpha Phi Alpha fraternity member and holds both a JD from Harvard Law School and MBA from the University of Wisconsin. Together with Teri Williams, he owns a controlling interest in BBOC.
Cohee graduated with an undergraduate degree from University of Wisconsin and law degree from Harvard, before dabbling with various entrepreneurial endeavors such as purchasing radio and TV stations and consulting work before ultimately settling on starting his own bank to build wealth in Black communities.
Cohee and his wife Teri Williams (an executive from American Express) purchased Boston Bank of Commerce and quickly made it the largest Black-owned bank in America. Soon thereafter they started purchasing more banks under their OneUnited brand name.
Trouble was brewing for the bank as Cohee and his wife were accused of misusing its funds to finance their cocaine, opium, and illegal narcotics habit – as well as being accused of sodomy by an employee working on set of an MTV series being shot at their home.
Cohee is the owner, chairman and CEO of OneUnited Bank – America’s largest Black-owned bank – serving in this position since 1996. A multimillionaire himself, his career boasts numerous accomplishments that span multiple disciplines.
Cohee acquired Military Professional Services, Inc (MPS), an established 29-year old firm offering Visa and MasterCard credit cards to military members for 29 years. Within years he transformed it into a profitable enterprise with over $40 Million invested and over 20,000 clients.
Cohee is a Harvard law graduate and former Wall Street investment banker who has long advocated for minority banking. His passion lies with economic independence for African-American communities. Cohee refers to himself as an “agent of change”, believing vibrant community institutions are key in closing the racial wealth gap and has joined forces with Visa to launch their OneTransaction campaign.