Alex Tsarnas Joins Bridge Bank Team to Lead Its Newly Established Banking Group, Business Escrow Services
San Jose, Calif. - Feb. 23, 2021
Bridge Bank today announced it has broadened its capabilities, to serve the private equity and venture capital communities – particularly those focused on mergers and acquisitions – by establishing a new banking group, Business Escrow Services (BES). Led by Alex Tsarnas, senior managing director, BES will focus on providing M&A services and solutions, as well implementing a newly developed paying agent platform to manage transactions and shareholder distributions.
The BES group is a highly experienced resource for M&A attorneys, private equity firms and strategic acquirers nationwide, as well as for existing clients when they reach the merger and acquisition phase of their exit strategy.
“The BES team has decades of experience in the escrow and payments space,” said Tsarnas. Combined with our client-focused approach and solutions, we can offer a higher level of service to the deal parties we work with.”
BES is uniquely positioned for sellers and acquirers who would otherwise utilize a third party service during the business escrow process. By offering a full complement of depository solutions and banking services, along with a newly developed paying agent platform, the Business Escrow Services group at Bridge Bank is an end-to-end solution for managing shareholder distributions.
“Alex and the BES team bring tremendous value to our existing PE/VC and professional service provider relationships,” said Dan Myers, chief executive officer at Bridge Bank. “Their extensive experience in managing M&A distributions, along with their new digital platform, designed with the shareholder in mind, helps to further position Bridge Bank as a holistic solutions provider for all who participate in the vibrant innovation sector.”
A seasoned financial professional with 30 years of industry experience, Alex has held positions at PNC Bank, BNY Mellon and JP Morgan. Tsarnas has extensive experience in M&A transactions, trust and escrow, and custody and security services. Based in New Jersey, he will bring his experience in global compliance, risk and regulatory requirements to the wide range of tailored offerings the Business Escrow Services group provides, including a new soon-to-be released paying agent platform for M&A paying agent services.
Bridge Bank, a division of Western Alliance Bank, Member FDIC, helps business clients realize their ambitions. Founded in 2001 in Silicon Valley, Bridge Bank offers a better way to bank for small- to mid-market businesses across many industries, as well as emerging technology companies and the private equity community. Geared to serving both venture-backed and non-venture-backed companies, Bridge Bank delivers a broad scope of financial solutions including capital, equipment and working capital credit facilities, venture debt, treasury management, asset-based lending, SBA and commercial real estate loans, ESOP finance and a full line of international products and services. Based in San Jose, Bridge Bank has 16 offices in major markets across the country along with Western Alliance Bank’s powerful array of specialized financial services. Western Alliance Bank is the primary subsidiary of Phoenix-based Western Alliance Bancorporation, with approximately $50 billion in assets. Western Alliance is again #1 best-performing of the 50 largest public U.S. banks in the new S&P Global Market Intelligence listing for 2020 and ranks high on the Forbes “Best Banks in America” list year after year.