Former Banking Honcho Seeks to Reduce Recidivism in St. Louis and Across the U.S.
Date:  05-08-2015

Former CEO raises almost $9 million to help incarcerated people get a head start before they are released
When Danny Ludeman retired from his position as CEO of Wells Fargo Advisors two years ago people shook their heads and wondered why a man with Ludeman’s background would give up such a powerful and prestigious career. When Ludeman, as reported by the St. Louis Riverfront Times, announced his next move was the implementation of a “holistic, evidence-based set of solutions" designed to reduce recidivism, the very same people seemed to believe that he was just the man to make it happen. Ludeman is not content to see his vision for reducing recidivism confined within Missouri’s borders. His mission is to see his model replicated across the country,

Ludeman’s ambitious project includes the creation of Concordance Academy of Leadership which the Riverfront Times explained is a program assisting with men and women who are incarcerated to obtain their high school equivalency diploma and find employment when released.

“Sixty inmates will be provided a raft of services from Ludeman and his team, everything from housing assistance to substance-abuse counseling in both an in-patient and out-patient setting. Concordance will employ its own staff attorneys and offer spiritual guidance with the help of 50 houses of worship already committed to the program. The idea is to provide all these services in-house, as opposed to contracting them out to different partner agencies.”

Ludeman raised $8.5 million in ten months to establish the Concordance Academy and the Concordance Institute. The cost associated with each participant is $15,000, less than the $22,500 annually it costs to incarcerated each person in Missouri.

Read more about Ludeman’s approach to reducing recidivism.