Reich & Tang Deposit Networks

Reich & Tang Deposit Networks, LLC.
Industry Financial Services
Founded 2005
Headquarters New York City, United States
Key people
 Michael P. Lydon (President & Chief Executive Officer)
Tom Nelson (Chief Investment Officer)
Joseph Jerkovich (Chief Operating Officer)
Andrew Mintz (Chief Information Officer)
Steve Genereau (Chief Deposit Officer)
Products FDIC-insured sweep accounts, bank funding programs

Reich & Tang Deposit Networks, LLC. (also known as Reich & Tang) is a firm based in New York City specializing in FDIC insured deposit investment and funding programs.

History

Reich & Tang Inc. was founded as an investment management firm in 1970 by Joseph Reich and Oscar Tang, both former heads of research at Donaldson, Lufkin & Jenrette. Originally covering equity accounts, Reich & Tang entered the money market mutual fund space in 1974 with the creation of the Daily Income Fund. The firm merged with The New England Investment Companies in 1993[1] and was bought as part of Nvest L.P. by CDC Asset Management[2] in 2007,which became Natixis in 2008.[3] Reich & Tang liquidated its money fund business in July 2015 and took the firm private in August 2015.[4] [5]

Today

Reich & Tang is a deposit and liquidity specialist for banks, trust/wealth managers, brokerages, and public and private entities. The firm also provides total balance sheet management and funding solutions for community banks and private institutions. The firm is also involved in the administration of expanded programs insured by the Federal Deposit Insurance Corporation, typically offered through banks, broker-dealers, and clearing firms.[6] The firm's subsidiaries include Reich & Tang Deposit Solutions, LLC., Stable Custody Group, II, and together with Reich & Tang Deposit Networks, LLC., they are collectively known as Reich & Tang.

References

  1. ↑ Quint, Michael. "New England Company Sets Reich Merger". The New York Times.
  2. ↑ Hanna, Sean. "Nvest Sold!". The Mutual Fund Wire.
  3. ↑ "Our History". Natixis Global Asset Management. Retrieved 31 July 2012.
  4. ↑ http://www.zacks.com/stock/news/189598/federated-fii-to-acquire-11b-money-market-assets
  5. ↑ http://www.reichandtang.com/news/article/reich-tang-announces-management-buyout-agreement
  6. ↑ "Demand Deposit Marketplace". Reich & Tang. Retrieved 23 February 2014.
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