Bruce Bent II is a successful entrepreneur and business executive who led the successful growth of The Reserve and FDIC. He is recognized for his asset management skills and also for offering cash-related solutions to banks, retail markets, broker-dealer and qualified plan. Through his inventions, Mr. Bent has transformed FDIC- Insured cash management portfolio into approximately $1 trillion industry. He has held numerous executive roles at Double Rock’s and its subsidiaries Access control Advantage LLC and Island Intellectual Property LLC. The two affiliates are today recognized as innovation leaders in their respective sectors.
Before the 208 global financial crisis, Bruce Bent II served as the President at The Reserve. Under his leadership, the firm expanded its products range and also diversified its assets under management, which grew from $4 billion and exceeded $130 billion. The Reserve had a team of over 300 employees including sales professionals. After the Lehman Brothers were declared bankruptcy in September 2008, Bruce Bent II led The Reserve to an orderly winding down of some product lines. The executive team at the firm decided to voluntarily close the product line, and shareholders of the Reserve Primary Fund were paid 99 cents on their initial investment and 100 cents on all other funds.
Things You Know about Bruce Bent II
Bruce Bent II believes that an idea can be generated by a single individual, but making it a reality would involve a team of individuals. He usually involves smart persons into his team and in some instances professionals. As an entrepreneur, Mr. Bent does not fear to fail, and when it happens he tries another route. His advice to emerging entrepreneurs is to meet and engage other individuals as they will be able build strong network of potential business partners and customers. Bruce says that entrepreneurs should be flexible and have faith in their own vision. Furthermore, they should be innovative and have expertise to divert from obstacles they face along the way.
The strategy that helps Bruce Bent II to grow and expand his business is by creating value to his customers. The executive is advising entrepreneurs to look for opportunities to exploit ways of doing business. For instance, he is encouraging homeowners to rip up their lawns and plant vegetables and fruits, or rare chickens and keep bees. This is an excellent way to start a business that can eventually grow and expand and become a source of live to many.
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