Wintrust Creates Innovation Focused Business Unit
January 12 2015 - 6:00PM
Wintrust Financial Corporation ("Wintrust") (Nasdaq:WTFC) announced
the creation of Wintrust Ventures, a business unit developed to
meet the needs of Chicago's burgeoning innovation community,
including start-ups, established businesses, incubators, angel
investors and venture capitalists.
This new unit will expand the base Wintrust has already built
within this segment in Chicago. With established relationships with
incubators like Catapult, The Coalition and The Bunker, Wintrust
Ventures will grow the portfolio using a mix of traditional banking
and lending tools, venture financing, investment advice, networking
events, educational opportunities, personal connections and even
equity investments in select companies.
"This space isn't new to us," said Edward Wehmer, Wintrust
President and CEO. "As Chicago's Bank, we feel it is important to
build a specialized team to approach this community and bring a
different perspective. You can't approach it like traditional
bankers. Standard banking services may work for some, while others
are looking for advice or equity partners. All are looking for
connections and customers."
Like others in this space, Wintrust will segment the market, but
through a Chicago-specific lens, using the Chicago flag as a
vehicle to illustrate an individual company's stage. A Single Star
denotes a start-up, with the initial focus on advice, networking
and basic banking services. Four Stars is for established
mid-market companies, with Two and Three Stars representing those
companies in-between where networking, venture financing and equity
investing become the most important.
"Keeping this local will be a key differentiator for Wintrust,"
stated Jason Blumberg, CEO and Managing Director of Energy Foundry.
"Banks coming in from outside the market don't seem to understand
that these companies want to build their businesses and help build
Chicago. You have to be from here to get that."
Wintrust already counts nearly 200 high-tech companies among its
clients with approximately 40% of those starting in the last five
years. Of all the businesses that bank with Wintrust, more than 30%
have been operating for five years or less.
"Wintrust already serves as an engine for early stage business
growth, "observed Todd Connor, Founder and CEO of The Bunker, the
nation's first veteran-focused incubator. "This new team is a
logical extension of their capacity and desire to work with
promising entrepreneurs to enable the growth of promising
companies. I have seen first hand Wintrust's commitment to
investing in new businesses and local communities."
Like Wintrust's other business units, Wintrust Ventures will
take a consultative approach to each individual relationship,
building a financial package that best fits the immediate and
long-term needs of each company or organization.
"In our three year relationship with Wintrust, we've seen them
approach every company with an open mind and complete flexibility
in designing financial packages," commented Galen Mason, Founder of
Catapult Incubator. "They don't believe in cookie cutter solutions.
Bankers need that kind of mind-set to succeed in this space."
Wintrust Ventures will be coordinated by Bailey Moore with a
team of Wintrust corporate executives and seasoned commercial
bankers, including Katina Panagopoulos and Tim Irwin. The team will
be initially housed at Wintrust Commercial Banking's facilities at
190 South LaSalle and move to Wintrust's new facilities at 231
South LaSalle next year.
About Wintrust
Wintrust is a financial holding company with assets of
approximately $19 billion whose common stock is traded on the
NASDAQ Global Select Market. Built on the "HAVE IT ALL" model,
Wintrust offers sophisticated technology and resources of a large
bank while focusing on providing service-based community banking to
each and every customer. Wintrust operates fifteen community
bank subsidiaries, now with over 135 banking locations located in
the greater Chicago and southern Wisconsin market areas.
Additionally, the Company operates various non-bank business units
including one of the largest commercial insurance premium finance
companies operating in the United States and Canada, a company
providing short-term accounts receivable financing and value-added
out-sourced administrative services to the temporary staffing
services industry, a business unit engaging primarily in the
origination and purchase of residential mortgages for sale into the
secondary market throughout the United States, and companies
providing wealth management services.
Forward-Looking Information
This press release contains forward-looking statements within
the meaning of the federal securities laws. Investors are cautioned
that such statements are predictions and actual events or results
may differ materially. Wintrust's expected financial results or
other plans are subject to a number of risks and uncertainties. For
a discussion of such risks and uncertainties, which could cause
actual results to differ from those contained in the
forward-looking statements, see "Risk Factors" and the
forward-looking statement disclosure contained in Wintrust's Annual
Report on Form 10-K for the most recently ended fiscal year and in
any of the Company's subsequent SEC filings. Forward-looking
statements speak only as of the date made and Wintrust undertakes
no duty to update the information.
CONTACT: Edward J. Wehmer, President & Chief Executive Officer
David A. Dykstra, Senior Executive Vice President
& Chief Operating Officer
(847) 939-9000
Website address: www.wintrust.com
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