Commerce Street Investment Advisor said Monday that it has hired Richard Jakob as an MD. He will work with Kurt Plumer, who recently joined CSIA earlier this year. Jakob and Plumer had both worked at Highland Capital Management.
Commerce Street Investment Advisor LLC (CSIA), an asset management firm with private equity and credit opportunity funds that invest in bank and financial institution-related products, recently hired Richard C. Jakob as a managing director. Jakob, a 25-year veteran in the investment management business, will work with Kurt Plumer who joined CSIA earlier this year to build out CSIA’s asset management business. This announcement was made today by Dory A. Wiley, managing partner of Commerce Street Holdings, LLC, the parent company of CSIA.
Jakob and Plumer had previously worked together at Highland Capital Management, LP. At Highland, Jakob contributed to the early launch of Highland’s product offerings. Plumer raised and managed two multi-strategy hedge funds, one of which was named Best Credit Opportunity Fund of 2007 and another was named Best New Fund of the Year (2006) by Absolute Return magazine. The duo plans to leverage the firm’s deep knowledge of the banking industry and an extensive network of financial institution clients across the United States.
“Rich brings client relations experience that will be of great benefit to our firm,” said Wiley. “This hire reflects our continuing commitment to further develop our asset management platform, and we are pleased to have him join us to continue the expansion of our business.”
Prior to joining CSIA Jakob was chief marketing officer with Cedarview Capital Management LP, a registered investment advisor of below-investment grade assets. Prior to joining Cedarview, he was a managing director at NewOak Capital in New York. He received a master of business administration degree from the Villanova School of Business and a bachelor of science in business administration from Villanova University.
About Commerce Street Investment Advisor, LLC
Commerce Street Investment Advisor LLC is an SEC-registered investment advisor headquartered at 1445 Ross Avenue, Suite 2700, Dallas, TX 75202. The firm provides asset management services for private equity and credit opportunity funds which invest in bank and financial institution-related transactions. For more information contact Mr. Wiley at 214-545-6805.