Susan Cosgrove Takes the Helm at R&T Deposit Solutions as New CEO

Susan Cosgrove Takes Over as CEO of R&T Deposit Solutions

R&T Deposit Solutions, a prominent player in the financial services sector, has announced a significant change at the top of its leadership structure. Effective January 16, 2025, Susan Cosgrove will step into the role of Chief Executive Officer and Chair of the Board, succeeding Joe Jerkovich, who recently declared his intention to retire but will remain with the company as a Strategic Advisor.

With over fourteen months serving as Executive Chairperson, Cosgrove has already made substantial contributions to R&T. Her tenure has been characterized by noteworthy organizational changes and strategic advancements that have strengthened the company's foundation. Cosgrove has championed various initiatives including operational resilience, the enhancement of digital services, and the establishment of a highly skilled executive team capable of driving R&T's future growth.

Cosgrove's professional background is impressive, boasting over two decades of experience at The Depository Trust & Clearing Corporation (DTCC). In her role as President of Clearing Securities Services, she sharpened her skills in financial and business management, liquidity risk management, and strategic optimization—traits that will undoubtedly benefit R&T as it evolves to meet industry challenges.

In a statement, Cosgrove expressed her honor at taking on the CEO role: “Following in Joe Jerkovich's footsteps is a profound honor. As we navigate the evolving market landscape, my commitment will be focused on reinforcing R&T's dedication to responsible innovation and operational excellence.” Her vision includes keeping the company at the cutting edge of the financial services industry while ensuring it delivers high-value services to its clients and their customers.

Jerkovich himself commented, highlighting that Cosgrove’s leadership abilities, combined with her comprehensive understanding of the financial services sector, positions her to lead R&T into a promising future. “Susan's appointment as CEO is a testament to her exceptional leadership qualities and her deep understanding of the industry. I am confident that under her direction, R&T will reach new heights,” he stated.

The announcement has been positively received by members of the board. Collin Roche, Co-CEO at GTCR, noted that Susan's experience made her the ideal candidate to help R&T deliver best-in-class solutions. He expressed excitement over the company’s direction and the refined strategic growth plan that Cosgrove and her team are set to execute.

Further affirming the board's endorsement, Takashi Moriuchi, Co-Founder of Estancia Capital, remarked on the significant impact Cosgrove has already had during her time at R&T. He emphasized her culture of continuous improvement and operational excellence, essential elements for the company’s ongoing success.

R&T Deposit Solutions has been a market leader for 50 years, offering cash management and deposit placement programs tailored to the financial services industry. They cater to a diverse range of clients including banks, credit unions, broker dealers, trust companies, and wealth managers. Their tech-enabled services supply organizations with efficient cash sweep and deposit funding solutions, bolstering their clients' deposit insurance needs through access to billions in reciprocal deposits via their Demand Deposit Marketplace® program.

As Cosgrove prepares to embark on her new role, stakeholders are optimistic about the future of R&T Deposit Solutions and the innovative pathways it will explore under her leadership. Cosgrove's journey at R&T thus far has laid a robust foundation for her upcoming initiatives, aiming for both growth and operational excellence in the competitive financial landscape ahead.

For more information about R&T Deposit Solutions and their services, visit R&T's website.