David Boulay

As President and CEO of the Illinois Bankers Association, Boulay will bring a member-focused approach to strengthening the voice of Illinois banks and advocating for policies that strengthen the industry. A respected statewide leader with a record of bringing public and private sector partners together to deliver results, he understands the essential role banks play in helping businesses grow, supporting families and communities, and driving long-term economic success. He also brings deep experience navigating state and federal policy, along with established relationships in Springfield, Chicago, and Washington built over years of statewide advocacy.

Since 2011, Boulay has served as president of IMEC, the Peoria-based public-private partnership dedicated to the competitiveness of Illinois’s small and mid-sized manufacturers. Under his leadership, IMEC has grown its revenue, diversified its services, led a successful nonprofit merger, built a strong team and leadership pipeline, and substantially increased its impact for economic development in Illinois.

Boulay is also a sought-after voice on Illinois lending and economic development. In 2026, he was appointed to the board of SomerCor, a nonprofit certified development company (CDC), that specializes in the SBA 504 loan program and expanding access to capital for small businesses, where he provides governance and strategic oversight. The role has given him a firsthand view of how banks, community lenders, and public-sector partners work together to move capital into Illinois small businesses and neighborhoods. He also serves on the board of the Illinois Economic Development Corporation, the state’s public-private partnership for business recruitment and retention.

Boulay grew up in a family-owned business, learning firsthand the challenges and pride of the small business owners who rely on Illinois banks every day. He went on to hold operations roles at Frito-Lay and Pillsbury before transitioning to higher education and statewide leadership, including leading a Small Business Development Center in Ohio where he worked one-on-one with entrepreneurs on business plans, financial analysis, and accessing capital. He holds a Ph.D. in Workforce Development and Education from The Ohio State University, an MBA from Franklin University, and a B.S. in Operations from Binghamton University.