AUSTIN, Texas--(BUSINESS WIRE)--Checkpoint Capital, LLC, a FinTech capital markets specialist firm supporting depository institutions, has named John C. “Jack” Stimac, Jr. as President and Head of Financial Strategies, effective immediately.
Working alongside Checkpoint Capital Founder and Chairman Jon Virostek and CEO Billy Weber, Jack will focus on the expansion and implementation of the firm’s premier fixed income price transparency model at community banks across the U.S.
He joins the firm with an extensive background in financial services of nearly 20 years. Most recently he was at Baird, serving as Director, Fixed Income Capital Markets, in Memphis, TN, and prior to that, at Wells Fargo Securities as Director, Fixed Income Market & Portfolio Strategy. His responsibilities have included advising depository institutions on product selection, curve positioning, and cash flow management to best meet their obligations and maximize income. In previous roles, Jack reviewed portfolios for swap ideas that helped customers enhance performance or improve the overall liquidity profile of their bond portfolios and recommended and executed over $10 billion in ALM asset repositioning transfers to improve capital treatment.
“Jack is a talented and highly skilled executive with a deep understanding of fixed-income market dynamics,” said Jon Virostek. “His proven expertise in financial strategies, combined with our technology platform and suite of services, will enable us to pursue new relationships in community banking while continuing to provide the outstanding service our valued clients have come to expect from us.”
Checkpoint Capital’s products and services enable community banks affordable access to the types of fixed income investment opportunities utilized by many of the world’s largest financial institutions.
“We have embarked on a strategy to empower community banks with fixed income price transparency and are gratified by the increasing acceptance and adoption of our insights, processes, and tools,” said Billy Weber, CEO, Checkpoint Capital, LLC. “This a significant and complementary hire for Checkpoint and its client base, adding to our existing deep bench of talent, which includes regulatory, investment banking, capital markets, and trading expertise. With Jack joining as head of financial strategies, we are well situated to further expand our capabilities in the community banking industry.”
Checkpoint Capital’s transparency model is resonating with the depository industry. The firm has continued to capture market share, with its quarterly growth rates as high as 500% since inception in late 2018. Community banks working with Checkpoint benefit from transparent transaction costs for their fixed income portfolios, cutting-edge trading platforms, Asset Liability Management (ALM), and portfolio analytics, which have been the primary performance drivers for the firm.
“I think our fixed income price transparency model is already changing the way community banks buy bonds,” said Jack Stimac, President, Checkpoint Capital. “By helping financial institutions improve returns with better execution in their bond portfolios, we are delivering a legitimate, quantifiable value-add to our customers.”
Jack graduated from the University of Richmond with a Bachelor of Science in Business Administration, with concentrations in Finance and Economics. He is a Chartered Financial Analyst (CFA), is a member of the CFA Institute and CFA Memphis, and holds FINRA Licenses Series 7, 63, 86 and 87.
About Checkpoint Capital, LLC
Checkpoint Capital, LLC offers community banks affordable access to the latest financial technology and analytical tools in order to better understand their unique fixed-income investment needs and gain greater price transparency in the bond market. Its resources level the playing field with large institutions and empower community banks to lower costs, increase efficiencies and better manage risk.
Checkpoint maintains a number of strategic alliances to bring a full suite of solutions in support of community banks and credit unions. Its offerings include Asset Liability Management (ALM), Bond Portfolio Accounting, Strategic Planning, Liquidity Stress Testing, Deposit Analytics and Credit Stress Testing to institutions of all sizes on an on-premise, cloud or outsource service basis.
Disclosures
Expressions of opinion specifically contained in this press release are as of this date and are subject to change without notice. Registered Representatives in this office are registered with and securities offered through Cantella & Co., Inc. Member FINRA | SIPC. 389 Main Street Malden, MA 02109 (800) 333-3502. Checkpoint Capital, LLC is not affiliated with Cantella & Co., Inc. This information is not intended as a solicitation of an offer to buy or sell, and security referred herein. Past performance may not be indicative of future results.
