USA Banking & FinTech Snapshot
Positives: Home to the world’s biggest capital markets, tech firms, and talent pools. Economy is relatively strong and rate of disruption is high. Huge domestic market. Mature, functioning legal system. English is handy.
Negatives: Competition is intense, both from behemoths (Amazon, Apple, Google, JP Morgan) and newish players (Shopify, Venmo, Stripe). China market access difficulties. High taxes and employee benefits costs. Complex regulations & litigation risk, especially around HR. International localization is a problem for English-centric & USA-centric firms.
Steve in USA Today
Steve returned to the USA in December 2022. He is now based in the northern Dallas metro. New York City is home to much of his professional network as well as many members of his immediate family and friends. But everybody is coming to Texas. Everybody. You’ll see.
Steve;s first two years back in the States were closer to Buffalo and Rochester – just across the lake from Toronto – to become the SVP & Director of Strategy, Operations and Technology for Five Star Bank. In that role he managed Infrastructure Technology, Operations, Product Management, and Business Analyst teams (nearly 100 associates in total). He left this position in June of 2024 to pursue other opportunities.
Steve also has deep roots in California’s Bay Area. Steve also has family there, including two excellent nephews young enough to still think Uncle Steve is the coolest. For now.
Steve is presently in Texas… And Tesas is the Future!
Steve’s History in USA
Steve began his professional career in a New York accounting firm helping small businesses. He passed the CPA exam and joined Arthur Andersen to focus on tax advisory and tax process reengineering for real estate invesment funds.
He earned an MBA from NYU Stern in 2002. Steve joined a private Swiss bank and later launched a consultancy. His projects included “SOX” internal control overhauls for three public companies and turnaround management of a distressed construction firm.
Steve joined Morgan Stanley in 2005 to run global SOX and integrated risk metrics reporting for FID an CFO Controllers. He was recruited by an Icelandic bank in 2007 to head the non-revenue functions for their USA and Canadian businesses.
Steve left New York in 2008 during the Financial Crisis to take on new challenges at a Dubai-based investment bank.
In 2010, Steve rejoined Morgan Stanley in Hong Kong and eventually joined the founding teams of two promising startups. One of these launched Hong Kong’s first regulated security, a “real world asset” fund tradeable via ERC-20 blockchain.
Steve returned to USA in December 2022 to join the excellent people at Five Star Bank. Now in 2024, it is time for the next chapter, to be announced very soon…
Now check out Hong Kong:
