Cross River Announces Three New Members to Board of Directors
05 Agosto 2024 - 12:00PM
Business Wire
CRB Group, Inc., the parent company of Cross River Bank (“Cross
River”), a technology infrastructure provider that offers embedded
financial solutions, today announced it has appointed three new
members to its Board of Directors (“Board”), effective July 1,
2024: Roland Fryer, Richard Laxer and Gabrielle Vitale.
“The appointment of Roland, Richard and Gabrielle to our Board
signals our commitment to Cross River’s next stage of growth,” said
Gilles Gade, Founder, CEO and Chairman of Cross River. “We exist to
help fintechs and non-bank enterprises revolutionize financial
services, positively changing the lives of all, and particularly
those traditionally denied access to even basic banking products.
Our three new directors will help drive this mission with their
leadership and exceptional, proven track record in financial
services, risk management and technology, as well as their
diversity of thinking, creativity and commitment to changing the
world for the better."
Cross River’s Board is composed of a diverse mix of global
industry leaders with deep background in the payments, financial
services and technology industries who are uniquely equipped to
help guide Cross River’s future.
The three additions each bring a wealth of differentiated,
stellar experience to the Company:
- Roland Fryer is a Professor of Economics at Harvard
University and a co-founder of Equal Opportunity Ventures, an early
stage seed fund, and several start-ups. He sits on several boards
with an emphasis on business analytics, talent management and
product strategy. His research combines economic theory, big data,
AI and randomized social experiments to help design policies that
can increase social mobility in America. Roland was awarded a
MacArthur "Genius" Fellowship, the John Bates Clark Medal (given by
the American Economic Association to the best American Economist
under age 40), the Presidential Early Career Award for Scientists
and Engineers, among others. He was a member of the 2009 Time 100
(most influential people in the world) and has been twice featured
in Esquire "Genius issue." Roland earned a Bachelor of Arts degree
in Economics from the University of Texas at Arlington and a Doctor
of Philosophy in Economics from Penn State University.
- Richard A. Laxer is a veteran of GE Capital, serving the
company for 34 years before retiring in 2018 as CEO and Chairman.
Richard held a number of senior executive roles at GE Capital
across the US, Asia and Europe, and led large, multi-billion dollar
global businesses in developing and executing financing strategies
critical to the success of world-leading businesses. Richard has
extensive experience in M&A, having taken companies public and
served on public company boards. He used his experience and
expertise to advise companies which are using cutting-edge and
innovative technologies to disrupt the financial services industry.
Richard has served as a senior advisor to Warburg Pincus and is
currently a non-executive director to three of its portfolio
companies: Vodeno Technology, and Singular Bank, in addition to
Aion Bank, of which he is a Chair. He has proven experience
navigating complex market conditions, managing enterprise risk
alongside restructuring and integrating large businesses to deliver
on financial targets, and his extensive expertise of financing
strategies includes private equity, debt, corporate and commercial
finance. Richard joined GE Capital in 1984 after gaining a Bachelor
of Arts degree in Business, with a minor in Economics, from
Skidmore College, Saratoga Springs, New York.
- Gabrielle Vitale is a recently retired executive of
American Express with extensive experience in operations, corporate
governance, compliance and risk management attained throughout her
successful career of 37 years. She is a strategic leader with deep
expertise in cyber, technology, finance, operational and regulatory
risk management. In her most recent position at American Express,
Gabrielle was EVP and Global Chief Compliance and Ethics officer.
In this role she was also an Officer of American Express National
Bank and served both Audit and Risk Committees of the Bank and the
Holding Company. Other critical roles include Global Operational
Risk Officer, Chief Information Security Officer, and CFO in the
American Express Business Travel unit. Gabrielle is committed to
nonprofit service. She serves as an executive officer of the board
of trustees of the Phoenix Zoo, and Chairs the Finance and Audit
Committee. She is a member of the International Women’s Forum
including the Arizona chapter. Gabrielle earned a Bachelor of
Science degree in Finance from Arizona State University.
"Our partners choose Cross River to be able to provide their
customers great technology-driven banking products and services,
underpinned by outstanding risk management, regulatory compliance,
innovation and nimbleness," said Phillip Riese, Lead Independent
Director of Cross River’s Board. "Roland, Rich and Gabby have
everything we need to take our success to date and, working through
our great executive team, drive us further and faster. We welcome
them wholeheartedly."
Cross River’s products and clients are powering millions of
businesses and consumers across the globe, daily. The Board
announcement comes on the heels of the Company’s anniversary, of
which it marked 16 years of trailblazing growth in the financial
services industry. To date, Cross River has provided access to
credit to nearly one hundred million consumers and is nearing its
one billionth payments transaction. The Company is poised to
continue leading the way in the development of innovative solutions
with investments in infrastructure capabilities, cross border
solutions and prepaid offerings.
About Cross River
Cross River provides technology infrastructure powering the
future of financial services. Leveraging its proprietary real-time
banking core, Cross River delivers innovative and scalable embedded
payments, cards, and lending solutions to millions of consumers and
businesses. Cross River is backed by leading investors and serves
the world’s most essential fintech and technology companies.
Leading the industry, Cross River is reshaping global finance and
financial inclusion. Member FDIC. Find out more at
www.crossriver.com.
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Media Contact Cross River Mackenzie DeLuca 201-808-7000
ext. 778 mdeluca@crossriver.com