Bruce R. Bent II is an entrepreneur and one of the leading experts in the field of cash management, financial and retirement services. He bears more than 25 years of experience in banking, startup oversight, and handling entrepreneurial ventures. He is currently serving as the President, CEO, and Vice Chairman of Double Rock Corporation, a provider of financial management services.
Bruce Bent II attended the Northeastern University and holds a Bachelor’s of Science degree in Philosophy from the institution. Bruce Bent II has also operated as a financial consultant and investor through B2 Consulting. He founded this entity to focus on startups in industries such as healthcare, consumer financing, digital currency, and financial technology. He has worked for Hallmark Investment Series Trust and a number of its subsidiaries.
Bruce Bent II has gained widespread recognition from peers in the financial services for his role in the development of the Reserve Fund, the world’s first money market fund. This fund was first availed to investors who wanted to maintain their money while earning returns based on a low-interest rate. He is also named as an inventor on more than 50 patents in the financial industry. This commercial product, developed in 1971, was acknowledged for its contribution to the financial history of the U.S by the American Museum of Financial History.
As stated on Wikipedia, a money market fund can be described as a mutual fund that aims to generate returns for investors while maintaining a consistent share price of $1 per share. It invests in short-term debt securities that mature in less than 13 months. Such debt securities include commercial papers and U.S Treasury bills. The SEC regulates money market funds, and generally, provides higher returns on investments with a limited risk factor.
As the Vice President of Double Rock Corporation, Bruce Bent II is tasked with the responsibility of serving as the Senior Executive if its wholly-owned affiliates including Access Control Advantage, Landing Rock Group, Island Intellectual Property, and many others. He is also responsible for product innovation, intensive decision-making, and strategic financial planning. Owing to this, Double Rock Corporation expanded to one of the largest private cash management entities, with assets under management valued at more than $130 billion.
Due to his extensive success, Bruce Bent II has been highlighted in the book “Leadership Secrets of the World’s Most Successful CEOs” and is a member of the Young Presidents’ Organization.
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