StoneCastle Cash Management Announces First Quarter Highlights

Benefits from financial professionals seeking alternative cash management vehicles;

Record assets under management, increased net new assets and accounts

NEW YORK--()--StoneCastle Partners (“StoneCastle”), one of America's largest investors in community banks and a recognized cash management leader for institutions, through its subsidiary, StoneCastle Cash Management (“SCCM”) marked several significant milestones in the first quarter of 2014, the firm announced.

Business highlights for the first quarter ended March 31 include:

  • A 14% increase in new institutional clients and a 10% increase in balances.
  • The STAR Plus program, powered by FICA®, for public fund managers across the state of Ohio, surpassed $1.7 billion, an increase of 17%.
  • eCD Market, acquired by StoneCastle in late 2012, entered into a strategic partnership with Cachematrix, the leading provider of trading technology and financial software development for banks and financial institutions, making eCD Market available to some of the world’s largest financial institutions.

“I am very pleased with the strong results and superior service we delivered in the first quarter,” said Steve Rotella, President and CEO, StoneCastle Cash Management. “We are off to a very good start to the year, even in a challenging environment. As traditional cash management vehicles experience outflows1 and face regulatory uncertainty, prudent financial professionals are clearly seeking proven, safe and liquid alternatives, benefitting StoneCastle.”

SCCM’s head of Institutional Sales, Brandon Semilof commented, “With strong asset inflows from corporations and public entities, our clients added over $1 billion in new assets to SCCM, bringing total assets to over $6 billion. These growth prospects are especially evident in our Federally Insured Cash Account (FICA®) franchise, as finance professionals continue to seek safe and secure cash management options providing competitive yields.”

Conclusion

“We have marked a particularly successful quarter in terms of our growth and the breadth of offerings we provide to our investors and to the community banking sector,” said Eric Lansky, President, SCCM. “Our goal is to continue to create innovative cash management solutions consistent with the needs and objectives of financial professionals.”

About StoneCastle Cash Management, LLC

StoneCastle Cash Management (StoneCastle.com) is a premier provider of liquidity and cash management solutions servicing the nation's leading community banks, corporations, municipalities, public funds, foundations, endowments, hedge funds, wealth management and private equity firms. StoneCastle Cash Management is a wholly owned subsidiary of StoneCastle Partners, LLC. StoneCastle Partners, LLC was founded in 2003 and is one of the largest managers of investment funds and providers of advisory services dedicated to the U.S. banking sector.

1 According to ICI.org, money market mutual funds assets have dropped by $76 billion, or 2.8%, during the first quarter of 2014,, with Institutional funds declining by $68 billion, or 3.8%, and Retail MMFs declining by $8 billion, or 0.8%.

This release does not constitute an offer or solicitation or recommendation to purchase any security and is not investment advice.

StoneCastle Cash Management, LLC is not a bank, nor does it offer bank deposits, and its services are not guaranteed or insured by the FDIC or any other governmental agency. StoneCastle Cash Management, LLC, an affiliate of StoneCastle Partners, is an investment adviser registered with the Securities and Exchange Commission ("SEC"). For more information regarding the firm, please see its Form ADV Parts 1 and 2A on file with the SEC. Registration with the SEC does not imply a particular level of skill or training.

Contacts

ICR
Brian Ruby, 203-682-8268
brian.ruby@icrinc.com

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Contacts

ICR
Brian Ruby, 203-682-8268
brian.ruby@icrinc.com