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R&T Deposit Solutions Appoints Tom Ormseth as Executive Vice President, Head of Banking

April 10, 2023

New York, New York – Reich & Tang Deposit Networks, LLC (d/b/a R&T Deposit Solutions) (R&T), a leading deposit, liquidity and cash management solutions firm, announced today that Tom Ormseth has joined the firm as EVP, Head of Banking.

“We are thrilled to welcome Tom to our executive leadership team. With over 29 years in the banking industry, he is a tremendous asset to R&T.” expressed Joe Jerkovich, CEO of R&T. “Tom’s deep knowledge of our products and his extensive experience in the banking industry, including treasury management and digital banking, will be a huge benefit for our clients and the firm”.

Prior to joining R&T, Mr. Ormseth held management roles at Wintrust Bank for 17 years. In his most recent role of EVP, Digital Channels and Transaction Banking, Tom managed all digital channels for both retail and commercial banking, product management, Treasury Management, International Banking and payment capabilities. He was also a member of the Asset/Liability Committee and instrumental in the funding of the bank during a major growth period. His background includes roles in asset liability management modeling and managing Information Technology groups. Prior to joining Wintrust Financial, Tom led Digital Commercial Product Management for ABN Amro North America. Tom was recognized for his contributions to the industry in 2015, being named Digital Banker of the year by the American Banker.

“We look forward to the valuable insights and guidance Tom will provide to our banking team as we continue to strengthen our position in the industry”. Said Steve Genereau, R&T’s EVP and Chief Deposit Officer. “His appointment reflects our commitment to delivering exceptional value to our clients, and we are confident that his deep understanding of emerging digital banking technologies will help drive growth and take our organization to the next level”.

Media Contact

Teresa Murphy, VP Marketing