Susan Cosgrove Takes the Helm as New CEO of R&T Deposit Solutions

Leadership Transition at R&T Deposit Solutions

R&T Deposit Solutions, a prominent player in the financial services sector, has made a significant leadership change by appointing Susan Cosgrove as the new Chief Executive Officer and Chair of the Company. This transition comes after Joe Jerkovich announced his retirement, a move that speaks volumes about the strategic planning within the organization.

Cosgrove’s Background and Contributions

Susan Cosgrove, who served as the Executive Chairperson over the past fourteen months, has been a catalyst for positive change within R&T. Her tenure has emphasized enhancing operational resilience and extending the company's digital capabilities, laying the groundwork for a robust executive leadership team that understands the dynamic nature of the financial landscape.

Expertise in Financial Services

With more than 20 years of experience at The Depository Trust & Clearing Corporation (DTCC), Cosgrove has developed a wealth of knowledge in financial management and risk assessment. Her previous roles included significant positions that contributed to her well-rounded understanding of market complexities and operational strategies. This rich background allows Cosgrove to bring a fresh perspective to R&T as she embraces her new responsibilities.

Vision for the Future

In her new role, Cosgrove has expressed a strong commitment to fostering responsible innovation and operational excellence at R&T. She plans to keep the organization at the forefront of the financial services industry while ensuring quality service delivery to clients. “Succeeding Joe Jerkovich is a profound honor,” Cosgrove stated, indicating her determination to uphold the company's reputation and enhance its service offerings.

Support from Industry Leaders

Support for Cosgrove's appointment comes from various leaders within the industry. Joe Jerkovich has praised her capabilities, expressing confidence in her leadership as R&T navigates its future directions. Collin Roche from GTCR also commended the significant potential for growth under Cosgrove's guidance, focusing on best-in-class solutions in the banking space. These endorsements reflect a broader trust in her abilities to effectively steer the company forward.

Operational Excellence and Strategic Initiatives

Operational excellence remains a driving force for R&T under Cosgrove’s leadership. Her approach is centered on continuous improvement, aiming to cultivate an environment where innovation thrives. This will be pivotal as the company continues to refine its strategic growth plan while ensuring that it meets the demands of its clientele in evolving markets.

About R&T Deposit Solutions

Having celebrated 50 years in the industry, R&T Deposit Solutions is a leader in providing cash management and deposit placement services tailored for the financial services industry. Their tech-enabled approach helps various institutions, including banks, credit unions, and wealth managers, meet unique cash management needs seamlessly. The company’s Demand Deposit Marketplace® program is a notable initiative that facilitates access to reciprocal deposits, supporting clients in meeting their deposit insurance requirements.

Commitment to Clients

R&T’s commitment to their clients is evident through its focus on delivering high-value services. As the company moves forward, the leadership team, now headed by Cosgrove, is set to build on this foundation, ensuring that high safety and convenience levels are maintained, which is paramount in today's banking environment.

Frequently Asked Questions

Who is the new CEO of R&T Deposit Solutions?

Susan Cosgrove has been appointed as the new CEO and Chair of R&T Deposit Solutions.

What was the role of Joe Jerkovich?

Joe Jerkovich served as the CEO prior to Susan Cosgrove and will remain with R&T as a Strategic Advisor.

What initiatives has Susan Cosgrove been involved in at R&T?

She has played a key role in operational resilience and digital capability enhancements over her tenure.

How long has R&T Deposit Solutions been in operation?

R&T Deposit Solutions has been serving the financial services industry for 50 years.

What services does R&T Deposit Solutions provide?

The company offers cash management and deposit placement programs to various financial institutions.

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