AUSTIN, Texas–(BUSINESS THREAD)–Checkpoint Capital, LLCa FinTech capital markets firm that supports depository institutions, has named John C. “Jack” Stimac, Jr. as president and head of financial strategies, effective immediately.
Working alongside the founder and president of Checkpoint Capital Jon Virostek and CEO Billy WeberJack will focus on expanding and implementing the company’s first fixed income pricing transparency model across community banks in the US.
He joins the firm with an extensive career in financial services of almost 20 years. Most recently, he was at Baird, serving as Director of Fixed Income Capital Markets in Memphis, TN, and prior to that, at Wells Fargo Securities as Director, Fixed Income Markets and Portfolio Strategy. His responsibilities have included advising depository institutions on product selection, curve positioning and cash flow management to better meet their obligations and maximize income. In previous roles, Jack reviewed portfolios for swap ideas that helped clients improve the performance or improve the overall liquidity profile of their bond portfolios and recommended and executed over $10 billion in transfers of repositioning ALM assets to improve the treatment of capital.
“Jack is a talented and highly skilled executive with a deep understanding of the dynamics of the fixed income market,” said Jon Virostek. “His proven expertise in financial strategies, combined with our technology platform and suite of services, will allow us to develop new relationships in community banking while continuing to deliver the exceptional service our valued customers have come to expect from us.”
Checkpoint Capital’s products and services provide community banks with affordable access to the types of fixed income investment opportunities used by many of the world’s largest financial institutions.
“We have embarked on a strategy to empower community banks with fixed income pricing transparency and are pleased by the growing acceptance and adoption of our knowledge, processes and tools,” said Billy Weber, CEO of Checkpoint Capital. LLC. “This is a significant and complementary hire for Checkpoint and its client base, adding to our deep existing talent bank, which includes expertise in regulatory, investment banking, capital markets and trading . With the addition of Jack as Head of Financial Strategies, we are well positioned to further expand our capabilities in the community banking sector.”
Checkpoint Capital’s transparency model is resonating with the deposit industry. The company has continued to capture market share, with quarterly growth rates of up to 500% since its inception in late 2018. Community banks working with Checkpoint benefit from transparent transaction costs for their fixed income portfolios, cutting-edge trading platforms, asset and liability management. (ALM) and portfolio analytics, which have been the main drivers of the company’s performance.
“I believe our fixed income pricing transparency model is already changing the way community banks buy bonds,” said Jack Stimac, president of Checkpoint Capital. “By helping financial institutions improve returns through better execution of their bond portfolios, we are delivering legitimate and quantifiable added value to our clients.”
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), a member of the CFA Institute and CFA Memphis, and holds FINRA Series 7, 63, 86 and 87 licenses.
About Checkpoint Capital, LLC
Checkpoint Capital, LLC provides community banks with affordable access to the latest financial technology and analytical tools 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 reduce costs, increase efficiency and better manage risk.
Checkpoint maintains a number of strategic alliances to provide a comprehensive 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 Analysis and Credit Stress Testing for institutions of all sizes locally , in the cloud or in outsourcing services.
The expressions of opinion contained specifically in this press release are as of this date and are subject to change without notice. The registered representatives at this office are registered and securities are 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 to be a solicitation of an offer to buy or sell, or the security referred to herein. Past performance may not be indicative of future results.