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Checkpoint Capital appoints new President and Head of Financial Strategies

By Leandra Monteiro

August 09, 2022

  • Asset Liability Management
  • Capital Markets
  • Cash Flow Management

Checkpoint CapitalCheckpoint Capital, LLC, a FinTech capital markets specialist firm supporting depository institutions, has named John C. “Jack” Stimac, Jr. as President and Head of Financial Strategies, effective immediately.

Working alongside Checkpoint Capital Founder and Chairman Jon Virostek and CEO Billy Weber, Jack will focus on the expansion and implementation of the firm’s premier fixed income price transparency model at community banks across the U.S.

He joins the firm with an extensive background in financial services of nearly 20 years. Most recently he was at Baird, serving as Director, Fixed Income Capital Markets, in Memphis, TN, and prior to that, at Wells Fargo Securities as Director, Fixed Income Market & Portfolio Strategy. His responsibilities have included advising depository institutions on product selection, curve positioning, and cash flow management to best meet their obligations and maximize income. In previous roles, Jack reviewed portfolios for swap ideas that helped customers enhance performance or improve the overall liquidity profile of their bond portfolios and recommended and executed over $10 billion in ALM asset repositioning transfers to improve capital treatment.

“Jack is a talented and highly skilled executive with a deep understanding of fixed-income market dynamics,” said Jon Virostek. “His proven expertise in financial strategies, combined with our technology platform and suite of services, will enable us to pursue new relationships in community banking while continuing to provide the outstanding service our valued clients have come to expect from us.”

“We have embarked on a strategy to empower community banks with fixed income price transparency and are gratified by the increasing acceptance and adoption of our insights, processes, and tools,” said Billy Weber, CEO, Checkpoint Capital, LLC. “This is a significant and complementary hire for Checkpoint and its client base, adding to our existing deep bench of talent, which includes regulatory, investment banking, capital markets, and trading expertise. With Jack joining as head of financial strategies, we are well situated to further expand our capabilities in the community banking industry.”

Checkpoint Capital’s transparency model is resonating with the depository industry. The firm has continued to capture market share, with its quarterly growth rates as high as 500% since inception in late 2018. Community banks working with Checkpoint benefit from transparent transaction costs for their fixed income portfolios, trading platforms, Asset Liability Management (ALM), and portfolio analytics, which have been the primary performance drivers for the firm.

“I think our fixed income price transparency model is already changing the way community banks buy bonds,” said Jack Stimac, President, Checkpoint Capital. “By helping financial institutions improve returns with better execution in their bond portfolios, we are delivering a legitimate, quantifiable value-add to our customers.”

Jack graduated from the University of Richmond with a Bachelor of Science in Business Administration, with concentrations in Finance and Economics. He is a Chartered Financial Analyst (CFA), is a member of the CFA Institute and CFA Memphis, and holds FINRA Licenses Series 7, 63, 86 and 87.

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