b1BANK, the banking subsidiary of Business First Bancshares, hired Gerrit van de Wetering as managing director of derivative solutions. Van de Wetering will launch b1BANK’s derivatives products and services, which will aim to provide clients with more flexibility managing interest rate risks.
“Gerrit’s expertise in capital markets, specifically in fixed income and derivatives, will provide our clients with options that can help support their interest rate risk management,” Jerry Vascocu, chief administrative officer for b1BANK, said. “Our new derivative product line will also be available to our network of commercial bank clients we serve through our financial institutions group and subsidiary, Smith Shellnut Wilson, LLC.”
Van de Wetering has held positions at Derivative Path, BMO Capital Markets, Morgan Keegan and Company, BankOne and ABN Amro. During his career, van de Wetering has covered both corporate borrowers and financial institutions (regional and community banks) for interest rate, currency and commodity hedging. While at BMO and Morgan Keegan, he founded and developed community bank outsource hedging programs and developed technology platforms to support swap business activity. He is considered an expert in FAS 133/ASC 815 derivative accounting and holds series 7 and 63 FINRA registrations.
“b1BANK is on an exciting trajectory. The energy everyone has working towards a shared goal and vision is contagious. You can’t help but want to be part of it,” said van de Wetering. “I am joining a team of knowledgeable bankers that are eager to launch an interest rate derivative product line and grow these products and services over time. I am looking forward to seeing what the bank looks like in five years.”
“We are looking forward to partnering with Gerrit,” Frank Smith III, principal of Smith Shellnut Wilson, said. “His experience in developing capital market products for commercial banks will enhance our client offerings and deepen our relationships.”
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