Cross River Picks Ex-Lazard CEO Evan Russo as President

Cross River Bank, a major behind-the-scenes player in the consumer financing and BNPL space, has appointed Evan Russo as its new President. Russo joins from Lazard Asset Management, where he served as CEO. This move signals a significant shift toward institutional stability and growth for a bank that provides the essential regulatory and technological plumbing for many popular consumer lending apps and point-of-sale financing programs. For retailers and operators, this leadership change matters because Cross River is a primary originator for many of the financing tools you likely use in your stores. When Cross River strengthens its leadership, it improves the stability of the entire fintech ecosystem. The bank is positioning itself to be a more robust 'infrastructure layer' for the next generation of financial services, including AI-driven lending and instant payments. As the financing landscape faces tighter regulations and shifting economic conditions, having a veteran from a major global asset manager at the helm of a key partner bank suggests a focus on long-term reliability. This should give merchants confidence that their financing partners have solid backing and a clear roadmap for scaling new technology in the years ahead.

Source: PYMNTS

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