Stephen Rotella, Chief Executive Officer of StoneCastle Cash Management, LLC announced the investment advisory firm is presently in its first stage of expansion. On February 1st, 2017, StoneCastle Insured Cash Sweep, a subsidiary of the firm announced the acquisition of Intermedium Financial’s insured deposit sweep business. The acquisition transaction comprises of all assets of the business, including the InterLINK FinTech platform. Subsidiary, StoneCastle Insured Cash Sweep is a provider of insured deposit technology and services to investors and institutions.
Intermedium will continue its operations of the sweep business and retain InterLINK brand under the ownership of StoneCastle. In a News Release by the Company, Stephen Rotella said their goal is create presence in the 401K, broker & dealer, and financial advisor sectors in the national market. The acquisition transaction enhances the firm’s existing technology business and options of distribution. What StoneCastle expects from the transaction is to add value to their clients and financial intermediaries through the efficiencies of the InterLINK technology. Mr. Rotella says the firm is one of biggest banking networks in America and is now able to apply their solutions to most intermediaries experiencing challenges of growing profits and providing value to its clientele base.
Stephen Rotella joined StoneCastle Cash Management, LLC in 2011 as CEO and oversees its daily operations in New York City. Parent Company, StoneCastle Partners, LLC was founded in 2003, and is Principle of StoneCastle Cash Management. Mr. Rotella is also the President of StoneCastle Partners, one of the largest investors in the U.S. community banking industry. Before joining StoneCastle, he served as President and Chief Operating Officers of WaMu and CEO of Chase Home Finance at J.P. Morgan.
The State University of New York graduate earned his bachelor’s and master’s degrees in finance and information systems. Stephen Rotella immediately found employment as Senior Consultant at Accenture after receiving a MBA. StoneCastle Partners and all its subsidiary companies manages more than $12 billion in assets. The new acquisition will continue its operation in San Diego, CA.