NEW YORK, Jan. 31, 2024 /PRNewswire/ — R&T Deposit Solutions (“R&T”), a leading provider of tech-enabled liquidity management, deposit funding, and securities-based lending programs, announced today the appointment of Jason Cave as a Strategic Advisor for Regulatory and External Relations.
Mr. Cave brings over 30 years of experience in public leadership, regulatory development, and financial institution stability. He previously held roles at the Federal Deposit Insurance Corporation (“FDIC”) and Federal Housing Finance Agency (“FHFA”), helping to shape regulations that promote stability across banking, mortgage finance, and technology sectors.
“His expertise in regulatory and financial intricacies reinforces our commitment to excellence” – Susan Cosgrove
“I am excited to welcome Jason to our team. His expertise in regulatory and financial intricacies reinforces our commitment to excellence and will help us serve our clients with precision and perspective,” said Susan Cosgrove, Executive Chairperson at R&T. “Together, we are focused on creating a better future for our clients, shaping a landscape of financial institution stability and strategic innovation.”
At the FDIC, Mr. Cave led capital markets operations and the bank risk oversight program. In this role, he worked to deliver large-scale regulatory initiatives by collaborating with bankers, market participants, and regulators both in the U.S. and internationally. He also served as the FDIC’s top representative on the Basel Committee on Banking Supervision for over a decade. As the founder of the FHFA’s Office of Financial Technology, Mr. Cave built a network of over 100 market participants in the mortgage and technology industries. He also served on the Financial Stability Oversight Committee, working alongside federal and state regulators to establish new standards for large non-bank firms. His leadership extended to overseeing Fannie Mae and Freddie Mac as the Conservator, driving their growth in capital and liquidity while building operational resilience and readiness programs.
“I have long admired R&T’s emphasis on innovation for the benefit of their clients and the broader financial ecosystem, and I am grateful for the opportunity to work with Susan, Joe and the rest of the team to contribute to that effort,” said Mr. Cave.
“As R&T continues to grow its network of financial institutions and provide them with access to billions of reciprocal deposits and other liquidity solutions, Jason’s appointment reflects our commitment to hire seasoned industry experts to enhance the service we provide to our clients,” said Joe Jerkovich, President & CEO at R&T. “His extensive background in the industry will contribute to further solidifying our position as one of the foremost providers of deposit sweep services, and I look forward to introducing Jason as a resource to our partners and clients.”
About R&T Deposit Solutions
Founded in 1974, R&T Deposit Solutions provides deposit funding, liquidity management and securities-based lending programs to the financial services industry. Through its tech-enabled services, R&T helps banks, credit unions, broker-dealers, trust companies and wealth managers meet their unique cash sweep, deposit funding, and securities-based lending needs. As a recognized leader in the administration of deposit networks, the Demand Deposit Marketplace® (DDM®) program administered by R&T provides banks and other depository institutions access to billions of dollars in reciprocal deposits, and for their underlying customers, access to expanded levels of FDIC insurance coverage on their deposits through other participating banks in the program. For a list of banks in the networks administered by R&T, visit https://rnt.com/about/bank-lists/. R&T is a portfolio company with the majority interests owned by private equity firms, GTCR and Estancia Capital Partners. Both firms have partnered with R&T to expand its market presence and achieve sustained growth by further strengthening R&T’s leadership team, expanding its product offerings and enhancing the firm’s risk management and technology infrastructure.
R&T Deposit Solutions Media Contact Teresa Murphy
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SOURCE R&T Deposit Solutions
