CEO MONTHLY / CHAIRPERSON AWARDS 2023 10 Aug23234 Mar22259 R&T Deposit Solutions Announces Strategic Investment from GTCR and Appointment of Susan Cosgrove as Executive Chairperson With the support of GTCR and Estancia Capital Partners, R&T will continue to deliver innovative solutions to banks, broker-dealers, wealth management firms and other financial institutions R&T Deposit Solutions, a leading provider of tech-enabled liquidity management, deposit funding, and securities-based lending programs, announced today that it has received a significant investment from GTCR, a leading private equity firm. Following the investment, GTCR owns 50% of R&T with the remaining 50% retained by existing shareholders, which include Estancia Capital Partners (“Estancia”) and R&T’s founding team and employees. In conjunction with the investment, Susan Cosgrove will join R&T as Executive Chairperson. Susan will work closely with CEO Joe Jerkovich and other members of management. The appointment of Ms. Cosgrove as Executive Chairperson and the investment by GTCR are intended to further support and sustain the Company’s high rate of growth in its depository network offering while broadening the Company’s product offerings and augmenting technology infrastructure. In particular, the investment will focus on strengthening R&T’s position as a leading, innovative provider of deposit management solutions supported by a client-oriented delivery model and strong leadership and technical capabilities in deposit, liquidity and cash management. As part of the transaction, R&T shareholders are making substantial investments in R&T’s technology, infrastructure, and personnel. Ms. Cosgrove will join R&T effective October 1, 2023 as its Executive Chairperson, working full-time with other members of management to deepen the Company’s client relationships, broaden product offerings and expand technology infrastructure. Ms. Cosgrove is an exceptionally wellrespected leader in financial and securities technology, with over 30 years of experience in clearing, liquidity management and collateral optimization, including more than 20 years at The Depository Trust & Clearing Corporation (DTCC). She most recently served as President, Clearing & Securities Services at DTCC, leading all DTCC clearing and securities services businesses, including Equity Clearing and Settlement, Fixed Income Clearing, Wealth Management Services & Asset Services and Institutional Trade Processing. Previously, Ms. Cosgrove served as the Chief Financial Officer for DTCC, leading the Global Finance, Treasury, Procurement, Real Estate and New Initiative functions. Prior to her CFO role, she held several executive-level positions at DTCC, including General Manager of Settlement and Asset Services and General Manager of DTCC’s Equity and Fixed Income Clearing Services. Ms. Cosgrove also served as a member of DTCC’s Management Committee, Management Risk Committee, Investment Management Committee and as Chair of the Institutional Trade Processing Board of Managers. Ms. Cosgrove commented: “I am honored to have the opportunity to join Joe Jerkovich and the rest of R&T’s management team to build further on the Company’s success. The Company is already known for its exceptional depth and relevance with the industry’s leading banks, broker-dealers, wealth management firms and other financial institutions. This investment provides an opportunity to further enhance R&T’s technology platform and mission-critical operational capabilities, while delivering additional value to customers through product innovation.” Collin Roche, Co-CEO and Managing Director at GTCR, stated: “We are thrilled to partner with Susan Cosgrove, Joe Jerkovich and the broader R&T management team to sustain the growth at R&T and further increase the value delivered to customers. The Company’s leadership has demonstrated an exceptional commitment to growth by prioritizing a client-first focus. We share these values of customer-alignment and innovation, which are critical in serving sophisticated financial institutions with complex needs.” Mr. Roche continued: “We also are very enthusiastic to partner with our friends at Estancia Capital Partners to jointly support management in this next phase of the Company’s journey. GTCR and Estancia share a long-term orientation and are highly aligned in our focus on further investing in growth at R&T.” “Since our initial investment in 2021 we have worked closely with the R&T management team to accelerate the Company’s growth. GTCR’s investment is a testament to the hard work of the R&T team and the value proposition they deliver to customers,” stated Takashi Moriuchi, Co-Founder and Managing Director at Estancia. “Together with GTCR and Susan Cosgrove, our enthusiasm for the Company’s prospects has never been greater.” Mike Hollander, Managing Director at GTCR, continued: “As a result of this new investment, R&T will expand on its leading range of clientfocused solutions for cash management, liquidity, and securities-based lending. We believe that R&T is wellpositioned to accelerate its already strong growth trajectory and we have tremendous conviction in the caliber and capabilities of R&T’s leadership team. Along with our new partners at Estancia, we look forward to supporting Susan, Joe, and the broader R&T management team as they lead the Company into its next phase of growth.” “This investment represents a significant milestone in the growth and evolution of our company,” said Mr. Jerkovich. “Through this new investment, the appointment of Susan and our partnership with GTCR and Estancia, our business will be even better positioned to execute on our strategy and provide clients with innovative solutions and industry-leading technology. I look forward to working closely with Susan, GTCR, and Estancia on this next phase of our journey.” Keefe, Bruyette & Woods, a Stifel Company, served as financial advisor to R&T relative to the transaction and Dechert LLP served as the Company’s and Estancia’s legal counsel. Piper Sandler & Co. and J.P. Morgan Securities LLC served as financial advisors to GTCR and Simpson Thacher & Bartlett LLP served as GTCR’s legal counsel. Aug23682
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