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Jacqueline Reses

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Jacqueline Reses
Born
Atlantic City, New Jersey
CitizenshipAmerican
EducationWharton School of the University of Pennsylvania
Peddie School
OccupationBusiness executive
Known forChair and CEO of Lead Bank; Executive Chairman of Square Financial Services and Capital Lead at Square Inc.
SpouseMatthew Apfel
Children3

Jacqueline (Jackie) Reses (born 1969) is an American businesswoman, investor, author and philanthropist. She is the chair and CEO of Lead Bank, a state chartered bank in Kansas City, Missouri,[1] and the CEO of Post House Capital, a private investment firm and family office.[2] She is a member of the Kansas City Federal Reserve's Community Depository Advisory Council[3] and the former chairman of the Economic Advisory Council of the San Francisco Federal Reserve.[4]

Early life and education

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Reses was born in Atlantic City, New Jersey to Ronnie and Stephen Reses. Her father owned Reses Pharmacy in nearby Margate.[5] In 1988, she graduated early from the Peddie School in New Jersey, spending her senior year at George Washington University.[6] She attended the Wharton School of the University of Pennsylvania where she earned a Bachelors of Science degree in economics with honors.[7]

Career

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Reses began her career at Goldman Sachs, working in the mergers and acquisitions department and later as an investor in the principal investments area between 1992 and 1999.[8][9] Later she served as CEO for iBuilding, Inc., a real estate software business.[10]

After iBuilding's sale to Realeum Software in 2001,[11] Reses joined Apax Partners, a private equity firm with headquarters in London, England, where she ran the firm's U.S. media group.[12] At Apax, Reses served on the boards of Cengage Learning, Intelsat, HIT Entertainment and NEP Broadcasting.[10]

In 2012, Reses joined Yahoo! as Executive Vice President of people and development, leading hiring and HR for the company.[13] That same year, she was appointed to the board of directors of the Alibaba Group, where she helped lead Alibaba's IPO in September 2014.[14][15] As Chief Development Officer at Yahoo!, Reses led forty-one transactions between 2012 and 2014.[16]

In October 2015, Reses joined Square, Inc. to head Square Capital,[17] the company's small-business lending program and was appointed as the Chief Human Resources Officer.[18][19] In March 2020, Square became the first U.S. fintech company to receive an Industrial Loan Company charter, the first charter approved by the FDIC in over a decade.[20] At the beginning of the COVID pandemic in 2020, Reses encouraged Treasury Secretary Steve Mnuchin to expand the U.S. government's Paycheck Protection Program to allow fintech companies like Square to give out loans to small businesses.[21]

In 2022, Reses co-authored the book Self-Made Boss with Lauren Weinberg.[22]

In August 2022, Reses led the acquisition of Kansas City based Lead Bank, a state regulated bank that specialises in business and personal banking, with a focus on lending and banking as a service for consumer fintechs. At the time of purchase it held $778.9 million in assets. After the acquisition Reses was named Chairman of the organisation.[23] Lead Bank's investors include Andreessen Horowitz, Khosla Ventures, Coatue, Ribbit Capital, and Zeev Ventures. [21]

In 2024, Lead Bank was named to the CNBC Disruptor 50 list.[24]

Boards

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Reses served on the board of trustees and investment committee for Peddie School and the investment committee for Brearley School in New York. She has also served on the boards of Good+Foundation (formerly Baby Buggy), Citymeals-on-Wheels, and Springboard Enterprises, a non-profit networking platform for businesswomen.[19] Reses has been on the board of the Wharton School since 2015.[25]

In July 2020, she joined the board of Pershing Square Tontine Holdings, a special-purpose acquisition company.[26]

As of 2021, Reses served on the boards of Nubank, Affirm Holdings, and entertainment company Endeavor.[27]

References

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  1. ^ "Jacqueline Reses". Forbes. Retrieved 2024-01-22.
  2. ^ "Endeavor Adds Tech Executive Jacqueline Reses To Board Of Directors". Deadline. 18 August 2021.
  3. ^ "Community Depository Institutions Advisory Council". www.kansascityfed.org. 2024-01-23. Retrieved 2024-03-27.
  4. ^ "Jacqueline D. Reses joins Federal Reserve Bank of San Francisco's Economic Advisory Council". March 31, 2015.
  5. ^ "Jacqueline Reses To Wed This Year". The New York Times. 3 February 1991. Retrieved 4 October 2020.
  6. ^ "Jackie Reses '88 and Other Business Leaders are Steering California's Economic Recovery". Peddie Chronicle. Retrieved 3 October 2020.
  7. ^ Scholars, Rob (31 March 2015). "Jacqueline D. Reses joins Federal Reserve Bank of San Francisco's Economic Advisory Council". Federal Reserve Bank of San Francisco. Retrieved 3 October 2020.
  8. ^ Cohan, William (6 July 2020). "In Bill Ackman's New Megadeal, a Cut for Minority-Owned Wall Street Players". Vanity Fair. Retrieved 1 October 2020.
  9. ^ Rojo, Hugo (7 November 2016). "Square Capital's Jacqueline Reses Elected To NPR Board Of Directors". NPR. Retrieved 1 October 2020.
  10. ^ a b Rao, Leena (5 September 2012). "Yahoo CEO Marissa Mayer's Newest Hire: Jacqueline Reses, EVP Of HR And Talent Acquisition". TechCrunch. Retrieved 1 October 2020.
  11. ^ "Jacqueline Reses, Capital Lead of Square, to Keynote 2016 Wharton MBA Program for Executives Graduation at Wharton, San Francisco". Wharton News. 13 April 2016. Retrieved 4 October 2020.
  12. ^ "Most Powerful Women: Jacqueline Reses". Crain's New York Business. 21 July 2018. Retrieved 4 October 2020.
  13. ^ "Yahoo Dealmaker Reses Targets Mobile Talent in M&A Spree". Bloomberg.com. 2013-04-10. Retrieved 2020-11-19.
  14. ^ Shu, Catherine; Lunden, Ingrid (5 December 2012). "Yahoo's Not Quite Done With Alibaba: Its People Person Jacqueline Reses Just Joined The Board". TechCrunch. Retrieved 1 October 2020.
  15. ^ Bort, Julie (19 September 2014). "The Woman Who Protected Yahoo's $27 Billion Windfall From Alibaba Cried With Joy Last Night". Business Insider. Retrieved 1 October 2020.
  16. ^ Bort, Julie (16 July 2014). "Yahoo Has Bought 41 Companies In Two Years: This Is How It Decides Who To Buy, What To Pay". Business Insider. Retrieved 1 October 2020.
  17. ^ "Square's head of lending thinks the PPP still needs more changes to help the smallest businesses". Fortune. Retrieved 2020-11-19.
  18. ^ MacMillan, Ezequiel Minaya and Douglas (2015-10-19). "Square Names Yahoo's Jackie Reses to Head Its Lending Business". The Wall Street Journal. ISSN 0099-9660. Retrieved 2020-11-19.
  19. ^ a b "Jacqueline D. Reses, Head of Square Capital & CHRO, Square". American Banker. Retrieved 4 October 2020.
  20. ^ LLP, Anthony Le, Molly M. White, McGuireWoods (2020-03-20). "Square Obtains FDIC Charter To Operate Its Own Bank As An Industrial Loan Company". Consumer FinSights. Retrieved 2024-06-20.{{cite web}}: CS1 maint: multiple names: authors list (link)
  21. ^ a b "A Fintech Titan in Community Banker's Clothing". Forbes. 22 November 2023.
  22. ^ "5 Reasons It May Be the Right Decision to Keep Your Business Small". Inc. 22 March 2022.
  23. ^ "Former Square exec leads acquisition of community bank". americanbanker.com. 3 August 2022. Retrieved 19 May 2023.
  24. ^ "34. Lead Bank". CNBC. May 14, 2024. Retrieved October 11, 2024.
  25. ^ Wylie, Melissa (3 December 2015). "Square executive joins board of this mobile startup". BizJournals. Retrieved 4 October 2020.
  26. ^ Squire, Kenneth (22 July 2020). "Bill Ackman and Tontine Holdings rewrite the terms for SPACs". CNBC. Retrieved 3 October 2020.
  27. ^ "Former Square Executive Becomes Billionaire As Stock Surges". Forbes. 25 August 2021.
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