Investment Banking Venture in Cross River Enlists Morgan Stanley and Silver Lake Veterans as Leaders
Cross River Bank, a leading digital bank, has announced its entrance into the investment banking sector. The new venture aims to deliver brand support and assist clients with their most important decisions and transactions, particularly within the fintech community.
Henry Pinnell, a seasoned fintech investment banking leader, has joined Cross River Bank as co-head of investment banking. Pinnell, who previously worked at Barclays for 15 years before joining SVB in 2021, expressed his excitement about the opportunity to build a fintech-focused investment banking business at Cross River Bank.
Pinnell will be working alongside Benjamin Samuels, a former Morgan Stanley alum who recently joined Cross River Bank. Samuels views Cross River Bank as the nucleus powering the fintech ecosystem, offering creative solutions and adapting to the market's needs.
The investment banking strategy at Cross River Bank includes advising clients on mergers and acquisitions, capital markets transactions, and other corporate finance matters. The bank will also extend its services to include purchasing licensing rights.
Cross River Bank's securities unit has previously assisted with privately placed credit transactions, including asset-backed securities. This experience will be leveraged in the new investment banking division.
The Cross River Bank spokesperson stated that the vision for the bank has always been to be "up and down the capital stack." This means that the bank aims to support companies from seed stage to public, throughout their capital-raising journey and corporate advisory needs.
Christopher Phillips has also been engaged as Co-Head in the newly started investment banking activity at Cross River Bank. The Cross River Bank's investment banking strategy is focused on serving the fintech community, providing a unique opportunity for fintech companies to access comprehensive investment banking services tailored to their needs.
Pinnell, in his new role, is eager to bring creativity to offering investment banking solutions. Samuels shares this sentiment, stating that he is excited about the opportunity to work with a team that is committed to adapting to the evolving needs of the fintech industry.
With these additions, Cross River Bank is poised to make a significant impact in the investment banking sector, offering fintech-focused solutions to meet the growing demands of the industry.
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