President of Double Rock Corporation, Bruce R. Bent II is a longstanding leader in the financial services industry. He works with retail markets, broker-dealers, qualified plans and banks to provide solutions for managing cash and short-term assets. Mr. Bent serves as the senior executive for each of Double Rock’s subsidiary and affiliate companies, including Access Control Advantage, Intrasweep, Island Intellectual Property, Landing Rock Group and LIDs Capital, each of which the corporation wholly owns. Bent also serves on the Double Rock board of directors as Vice Chairman.
Bruce Bent II is widely considered a pioneer in the cash-related solutions industry, catalyzing a multitude of relevant and influential technologies and products in retirement services and management of cash and short-term assets. He played an instrumental role in developing cash sweep programs and in expanding existing FDIC-insured sweep programs. He holds more than 60 different patents for breakthrough procedures he’s developed that have not only become mainstays at Double Rock but have helped the financial services industry in general to evolve into a $1 trillion marketplace. He also helped developed a loan solution with an automated defined contribution plan, which served to cut down by 1/4 the amount participants borrowed from their plans.
As of 2005, Bruce R. Bent II has been Senior Vice President and Co-chief Executive Officer of two Hallmark Investment Series Trusts: Hallmark Convertible Securities Fund and Hallmark First Mutual Fund. Prior to that, he was Treasurer of those two funds. He is a former finance chairman of the Manhattan-based Gotham chapter of the Young Presidents’ Organization, to which he still belongs. He has also served on the Entrepreneur’s Organization in New York and the President’s Advisory Council of Scenic Hudson.
Before the 2008 financial crisis, Bent was President of The Reserve, one of the world’s biggest private money-market institutions, offering the world’s second-biggest money-market fund. Over a 17-year period, the company’s assets expanded from $4 billion to $130 billion, with annualized revenue reaching $155 million. The book “Leadership Secrets of the World’s Most Successful CEO” featured Bent. He holds a B.S. in Philosophy from Northeastern University.
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