We are a value investor in growing financial services companies

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ABOUT US

BayBoston is a minority-owned private equity firm that provides sophisticated strategic advice and capital to banks and financial services companies. BANKS | We provide capital and collaborative advice to banks to help them develop their franchises and realize their value potential. FINANCIAL SERVICES COMPANIES | We support the growth of small and medium sized specialized financial services companies, particularly those that provide niche products or operate in underserved markets. INVESTORS | We provide our investors the opportunity to access niche sectors of growth and special situation opportunities in the small/middle market, in particular U.S. community banking within the larger financial services industry. 

Strategy

Portfolio

Consistent with our financial services strategy, below is a list of companies that the BayBoston fund has invested in since 2015.  We are actively seeking investments in the financial services arena, and will generally seek board representation. We support the efforts of portfolio companies’ boards and management teams to implement sound business plans that enhance their franchise values. If you would like to submit an investment proposal, please use the link above.

 

PORTFOLIO COMPANIES:

Professional Holding Corp.

Professional Holding Corp. is a single-bank holding company headquartered in Coral Gables, Florida. The Company’s wholly owned bank subsidiary, Professional Bank, was chartered in 2008 and has two branches in Miami-Dade County, Florida.

BUSINESS: Community Bank

HEADQUARTERS: Coral Gables, FL

INITIAL INVESTMENT DATE: April 2015

INVESTMENT TYPE: Growth

STATUS: Active Investment

BOARD PARTICIPATION: Yes

WEBSITE: www.professionalbankfl.com

Caribbean Financial Group Holdings, L.P.

Caribbean Financial Group is a consumer finance company operating in the Caribbean and Panama. It offers unsecured personal loans and related credit insurance products to individuals who may have limited access to consumer credit from banks and other traditional lenders. The business was established in the Netherlands Antilles in 1979 and currently provides credit to more than 130,000 active accounts through its network of over 69 stores in 7 countries.

BUSINESS: Consumer Finance

HEADQUARTERS: San Juan, PR | Aventura, FL

INITIAL INVESTMENT DATE: August 2015

INVESTMENT TYPE: Growth

STATUS: Active Investment

BOARD PARTICIPATION: Yes

WEBSITE: www.cfgcompany.com

Radius Bancorp

Radius Bancorp is a bank holding company headquartered in Boston, Massachusetts whose holding, Radius Bank, is an innovative bank offering virtual banking technologies with the personalized attention that only a community bank can provide. It offers a full complement of convenient, leading-edge personal and business products and services. Radius serves consumers, small and middle market businesses, unions, government entities and non-profit organizations as its core clients.

BUSINESS: Community/Online Bank

HEADQUARTERS: Boston, MA

INITIAL INVESTMENT DATE: June 2016

INVESTMENT TYPE: Recapitalization/Growth

STATUS: Active Investment

BOARD PARTICIPATION: Yes

WEBSITE: www.radiusbank.com

CapTex Bancshares, Inc.

CapTex Bancshares, Inc. is a bank holding company, which in 2017 purchased the First National Bank of Trenton. CapTex has locations throughout the Dallas-Ft. Worth Metropolitan area.

BUSINESS: Community Bank

HEADQUARTERS: Ft. Worth, TX

INITIAL INVESTMENT DATE: September 2017

INVESTMENT TYPE: Recapitalization/Growth

STATUS: Active Investment

BOARD PARTICIPATION: Yes

Professional Holding Corp.

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Professional Holding Corp.

Caribbean Financial Group Holdings, L.P.

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Caribbean Financial Group Holdings, L.P.

Radius Bancorp

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Radius Bancorp

CapTex Bancshares, Inc.

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CapTex Bancshares, Inc.

Carlos Garcia

CEO, FOUNDER & MANAGING PARTNER

Carlos brings over 20 years of experience in the financial industry, both in the private and public sectors. He has occupied senior leadership positions in the areas of community, commercial and investment banking, securities brokerage, and asset management, as well as with government and regulatory bodies. He has a track record of executing turnarounds and growing businesses. He served at Banco Santander in a series of executive roles, from 2011 to 2013 as Senior Executive Vice President and a board member of Santander Holdings USA and Santander Bank N.A., and from 1997 to 2008 as President and COO of Banco Santander Puerto Rico, Vice Chairman and CEO of Santander Securities, Chairman of Santander Asset Management and board member of Santander Financial Services. From 2009 to 2011, he was Chairman of the Fiscal Restructuring and Stabilization Board of Puerto Rico. He was recently appointed by President Obama to the Financial Oversight and Management Board for Puerto Rico. Carlos received a dual degree in Economics from the Wharton School and in Comparative Literature from the College of Arts and Sciences of the University of Pennsylvania. He is a former board member of the Federal Home Loan Bank of Pittsburgh, Chairman of Caribbean Financial Group, member of the Young Presidents Organization, former board member of the Make-A-Wish Foundation of Massachusetts and Rhode Island, and board member of Hyde Square Task Force in Boston.

Tel 617.607.4601

Liesl Sitton

Principal & Managing Partner

Liesl has more than 20 years of investment, finance and accounting experience working at large multi-national corporations across multiple industries including private equity, financial services and public accounting. In her roles as Portfolio Director at Boston Consulting Group and Vice President of Finance at Devonshire Investors, the private equity division of Fidelity Investments, she has established governance processes, aided in managing risk, and directed business strategy, merger and acquisition (M&A) transactions and legal entity structuring to maximize corporate value.  Mrs. Sitton began her career in Boston at Ernst & Young (EY) where she spent 11 years in the audit practice. At EY, she managed audits of public and private multinational firms in the technology, manufacturing and financial services industries and she also worked on numerous initial public offerings. She graduated cum laude from the Isenberg School of Management at UMASS-Amherst. Mrs. Sitton is a member of the EY Alumni Council in Boston, has served on the MSCPA board, and was a co-founder of the Association of Latino Professionals (ALPFA), Boston Chapter.

Tel 617.607.4602

Richard Toomey

Principal

Richard Toomey is a lawyer with over 40 years of experience in financial, commercial and securities law, including 15 years serving as the chief legal officer of retail and commercial banks, most recently as the chief U.S. legal officer of Banco Santander, one of the leading banks in the world, while also serving as general counsel of its U.S. subsidiary, Santander Bank, N.A. (formerly Sovereign Bank). He also has held senior positions with leading U.S. banks such as Fleet Bank, Shawmut Bank and Chase Manhattan Bank.

Tel 617.607.4603

Daniel Lavoie

Vice President & Head of Research

Dan brings a passion for value creation and a dedication to the thorough analysis of investment opportunities. Prior to BayBoston, he was responsible for originating and analyzing private equity transactions for Kamylon Capital, a principal investment firm. Dan earned both juris doctor and master of business administration degrees from Boston College and is also a cum laude graduate of the College of Arts and Sciences at Boston College.

Tel 617.607.4604

Eugenio Mendoza

Associate

Prior to joining BayBoston, Eugenio was an analyst in the investment banking division of BTG Pactual, an investment bank, asset manager and wealth manager with a dominant franchise in Latin America. He obtained a master of business administration degree from the University of Miami, Florida, and a bachelor’s degree from the University of Hartford.

Tel 617.607.4600
Management Team

Carlos Garcia

CEO, FOUNDER & MANAGING PARTNER

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Carlos Garcia

Liesl Sitton

Principal & Managing Partner

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Liesl Sitton

Richard Toomey

Principal

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Richard Toomey

Daniel Lavoie

Vice President & Head of Research

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Daniel Lavoie

Eugenio Mendoza

Associate

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Eugenio Mendoza

Richard W. Durkes

Senior Advisor

Rick has had an extensive career in financial services for over 40 years. He served as the CEO of a small community bank and then established a successful financial services practice at The Chicago Corporation. Subsequently, he became head of its equities and investment banking group and served as an internal advisor on its sale to ABN Amro. He then became the CEO of the North American Equities and Investment Banking group of ABN Amro and a member of its executive committee. From 2002 to 2014, Mr. Durkes served as a managing director at Sandler O’Neill, one of the most prominent financial services investment banks in the U.S. He is currently Vice Chairman – Investment Banking at Raymond James. He was a former trustee of Henderson Global’s US mutual funds and two Northern Trust funds.

Dana Callow

Senior Advisor

Dana Callow is a founder and Managing Partner of Boston Millennia Partners, a private equity firm. Prior to forming Boston Millennia Partners, Mr. Callow co-founded Boston Capital Ventures and worked as a Senior Consultant at Braxton Associates. He was the founding institutional investor in PAREXEL International Corporation, (Nasdaq: PRXL) and continues as its Presiding Director. He is a Member of the National Board of Directors of the Leukemia and Lymphoma Society, a member of the Board of Trustees and Chairman of the Investment Committee at Tufts University as well as a member of the Board of Overseers at Tufts University Medical School. Mr. Callow is a graduate of Tufts University and holds an MBA from the Amos Tuck School at Dartmouth College.

Jeffrey B. Weeden

Senior Advisor

Jeff Weeden is former chief financial officer and senior executive vice president of KeyCorp from 2002 to 2013. KeyCorp is one of the top-20 largest banks in the United States by deposits. Jeff currently serves as a board member of State Farm Bank since December 2014. He also served in different executive roles at MFN Financial Corporation from 1999 to 2002, including CEO, president, COO and CFO; and was instrumental in rehabilitating MFN Financial before it merged with Consumer Portfolio Services Inc. in 2002. Prior to MFN Financial, he served as CFO of Firstar Corporation from 1996 to 1998. He was involved in its merger and acquisition activities, including the merger of StarBanc Corporation with Firstar. Jeff holds a bachelor’s degree in Industrial Administration (accounting) and Economics from Iowa State University.

Ward W. Woods

Senior Advisor

Ward Woods is former President and CEO of Bessemer Securities Corporation and Founding Partner of Bessemer Holdings, L.P. (1989-2000), a private equity firm. He is also a former Trustee of Stanford University and former Chairman of Stanford Management Company. Mr. Woods was a senior partner and member of the Management Committee of Lazard Freres & Company. Prior to joining Lazard Mr. Woods was a Managing Director and a Partner of Lehman Brothers and was co-head of the Corporate Finance Department. He is currently Chair of the Board of Trustees of the Wildlife Conservation Society, Chair of the Advisory Council of The Woods Institute for the Environment at Stanford University, and serves as a trustee of the David & Lucille Packard Foundation. Mr. Woods graduated from Stanford University.

Investment Committee

Richard W. Durkes

Senior Advisor

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Richard W. Durkes

Dana Callow

Senior Advisor

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Dana Callow

Jeffrey B. Weeden

Senior Advisor

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Jeffrey B. Weeden

Ward W. Woods

Senior Advisor

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Ward W. Woods

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