NEW YORK, Nov. 14, 2017 /PRNewswire/ -- StoneCastle Cash Management, LLC, ("SCCM"), has announced the appointment of Dan Farrell as its new Chief Executive Officer. Mr. Farrell assumed his responsibilities on November 13, 2017, and succeeds Steve Rotella, who has been elevated to Vice Chairman of the firm and will continue in his role as President of the parent company, StoneCastle Partners, LLC.
Mr. Farrell, who is a member of the firm's Executive Committee, has been affiliated with SCCM since early 2017 when its wholly owned subsidiary acquired the assets of Intermedium Financial, LLC, a fintech company providing FDIC insured cash sweep solutions in which Mr. Farrell was an investor through an investment fund under his management. He was instrumental in structuring the asset sale and subsequently served as consultant to SCCM, where he focused primarily on new business development and the integration of the platform within the firm's proprietary infrastructure.
"SCCM is a fascinating company that isn't bound by conventional ideas in delivering differentiated solutions for its institutional, bank, and financial intermediary clients," said Farrell. "I am equally honored and humbled to assume the responsibility in leading such a talented organization."
Mr. Farrell has decades-long experience in finance and executive leadership. He was Managing Partner of Dark Bridge Capital LP, a fund company he co-founded in 2011 to make equity investments in financial services entities and to acquire distressed mortgage and asset backed securities. Among other executive roles, he was Managing Director and Head of Structured Asset Finance at Wachovia Securities where he managed Investment Banking, Trading, and Distribution for the firm. "We are thrilled with Dan's appointment, which comes at a time when the organization is poised for significant growth," said Rotella. "His experience and vision for the business will no doubt accelerate our progress."
About StoneCastle Cash Management, LLC
StoneCastle Cash Management, LLC, is a leading administrator of insured cash solutions for many of the world's largest institutions and family offices. Today, the firm extends the reach of its operational and technology platforms through a daily cash sweep solution made available to banks, brokerages, RIAs, trusts, and other programs offered through financial intermediaries and wealth managers. StoneCastle is backed by the strength and stability of world class partners, CIBC and Charlesbank Capital Partners.
SOURCE StoneCastle Cash Management, LLC