With fintech partner banking increasingly under scrutiny, I’m happy to start 2024 by welcoming Glen Herrick as a senior advisor and Tim O’Shea as a senior director.
Glen brings more than two decades of experience on both sides of the bank-fintech partnership relationship. He served most recently as Chief Financial Officer of Pathward Financial, fka MetaBank, a leading BaaS firm providing payments, deposit products, consumer lending and commercial finance solutions. While there he also founded Pathward Ventures, which has successfully made early- and mid-stage investments in financial technology firms.
Before Pathward, Glen spent 20 years at Wells Fargo, where he served in various finance, treasury, risk management and compliance roles. As the SVP of Corporate Finance & Treasury he led resolution and recovery planning (“Living Will”) for the company, among other responsibilities. Glen also served as the CFO of Wells Fargo’s $34 billion Education Finance Division, providing strategic leadership during a period of unprecedented growth. Earlier in his career, Glen served multiple global assignments as an officer in the United States Army and spent time as an industrial engineer at Ingersoll-Rand.
Tim joins us from QED Investors, where he served as an executive in residence, providing compliance leadership and strategic advice to portfolio companies pursuing new bank partnerships, product launches, and growth initiatives. He remains with QED as a senior advisor focused on regulation and policy.
Previously, Tim led legal and enterprise risk for Reserve Trust, a B2B payments company, and worked for nearly a decade with Promontory Financial Group, assisting fintechs, traditional institutions, and governmental and self-regulatory organizations with strategic, regulatory, and risk issues. He has helped dozens of banks, lenders, and fintechs strengthen compliance and risk programs, with emphasis on consumer compliance, enterprise risk management, and governance. He has also helped evaluate and pursue licenses and charters. Tim also served as chief of staff of Carver Federal Savings Bank, a community development bank supervised by the OCC. During law school, he worked for the majority staff of the U.S. House Committee on Financial Services, helping develop the Dodd-Frank financial reform legislation.
We expect our work in 2024 to remain focused on helping banks and fintechs to negotiate the increasingly complex terrain of partnership in light of current and emergent regulatory requirements and expectations. Glen and Tim both bring tremendous experience and expertise to Klaros, further strengthening our incredible team of professionals.
As always, if you’d like to chat about innovation, regulation or other associated topics, shoot us a note at hello@klaros.com.