AltsOps 2023 Q&A: Glen Carballo, Valley Bank
Glen Carballo of Valley Bank will be speaking at AltsOps 2023, on both the private markets and hedge funds days. AlphaWeek’s Greg Winterton caught up with Glen to learn more about Valley’s presence in the alternative investment industry and to get his thoughts on the year in the space so far.
GW: Glen, first of all, tell us a little bit about where Valley Bank plays in the alternative investment industry.
GC: Valley Bank started back in 1927 and is a leading regional bank in the United States. We’re listed on the NASDAQ (Ticker: VLY) and we have more than 200 offices across six states. In terms of the alternative investment industry, our National Deposits Group focuses on delivering banking deposit solutions for investment management firms. We offer a “Private Bank” feel for commercial clients across all asset classes, whether that be hedge funds, private debt firms, private equity firms, real estate firms and venture capital firms. We work with other groups at Valley Bank including lending, FX or consumer products to deliver a holistic relationship experience to our asset management clients.
GW: What’s your view on how the hedge fund industry has done so far this year?
GC: I think we’ve seen an incredible amount of resilience in the Hedge Fund Industry this year given the economic climate. I am seeing new fund launches, even if they are moving slightly more cautiously. I am always inspired by managers who bet on themselves and bring their ideas and models to market.
GW: Same question, but for private markets.
GC: I have the same sentiment in Private Markets. I am seeing a fair amount of activity although access to capital has puckered a bit in the last 6-9 months. I think there is patient capital on the sidelines and there is still access to it given the right strategy.
GW: Lastly, Glen, what about Valley Bank? Any specific plans for the coming 12-18 months?
GC: We continue to move forward as a regional bank with 230 locations across our six state Footprint. We are in the midst of implementing technology upgrades to better serve our clients, which remains at the heart of everything we do as an organization. In the next 12-18 months I plan to use our recent experience and successes to enhance Valley’s brand recognition in the alternative arena as we remain a well-suited provider for Hedge Funds, Private Equity Groups, Venture Capital, and Family Offices. There is tremendous opportunity in the marketplace, and I am confident that Valley can deliver world class solutions for our clients.
Glen Carballo is Vice President – Business Development, National Deposits Group, Valley Bank
Asset/investment managers: request your complimentary ticket for AltsOps 2023 using the links below.
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