Customers Bank announced it launched its financial institutions group serving securities broker dealers, future commissions merchants, market makers and liquidity providers, insurance companies, trust companies and broader financial Institutions.
Brandon Troster was hired to lead the broker dealer banking group within the broader financial institutions group, Customers said.
The bank, with the addition of Troster, is expanding the services provided to FIG clients and is able to structure financial solutions and products to meet these businesses’ financial responsibilities for day-to-day liquidity driven by regulatory and trading activities, Customers said.
The broker dealer banking group will focus on clients ranging in size from $100 million to $1 billion, Customers said.
“Our continued success and growth stem from leaderships’ ability to identify underserved market segments where we can differentiate the bank by developing services and building personal relationships to help clients expand their businesses,” stated Sam Sidhu, president and chief executive officer of Customers Bank.
Troster brings over 14 years of experience managing relationships and services for clients to Customers Bank.
Most recently, he served as vice president of the broker dealer group at Texas Capital Bank. Troster held senior positions with Apex Clearing Corporation and Penson Financial Services earlier in his career.
Customers Bank has recently introduced additional banking groups, including the funds finance group and the technology and venture banking group, the bank said.
The bank also launched a blockchain-based real-time payments system for cryptocurrency and digital asset institutions utilizing its branded Customers Bank instant tokens, which drove $1.5 billion in deposits, the bank said.