Bruce Bent II is a highly experienced entrepreneur. He has earned a reputation for creating highly innovative short-term solutions for asset management as well as cash. These are for banks, brokers, qualified plan, as well as for the retail markets.
The vision, along with the entrepreneurial drive of Bruce Bent II, has led to highly influential products. These have led to the technological development of items such as cash sweep along with the expanded FDIC-insured programs.
Bruce Bent II has over 60 patents. His inventions have helped to transform this FDIC-Insured cash management into a $1 trillion industry today.
He is the C.E.O. of The Reserve. This is a money market mutual fund as well as FDIC cash management business. He has been in this industry for over 17 years. He has led to the orderly liquidation as well as a sale of the subsidiaries along with the affiliates of this firm. This was after the financial crisis of 2008.
Bruce Bent II is the Vice Chairman as well as President of Double Rock Corporation. This is a leading financial services firm. He is a senior executive in the six subsidiary companies of Double Rock Corporation. These include Access Control Advantage IIC. This company can be considered as an innovator in the field of retirement planning. Another company is Island Intellectual Property IIC. This is engaged in licensing of patents in the financial services sector. Both these firms have been widely recognized for innovation in their respective markets.
The Reserve is a large money-market institution that is privately held. It is offering the second-biggest money market fund. This firm has its headquarters in New York. It employs more than 300 people. These include sales professionals who are spread all across the nation.
Bruce Bent II has expanded its product lines as well as markets of distribution. This is why the assets of this organization expanded from $4 billion to $130 billion over a period of 17 years. The annualized revenue reached $155 million. The EBITDA reached $90 million.
He looked after the winding down of The Reserve in an orderly manner after the Lehman Brothers went bankrupt in 2008.
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