NEW YORK, April 25, 2022 /PRNewswire/ -- Reich & Tang Deposit Networks (R&T), a leading liquidity and cash management solutions firm, announced today that Sabra Baum has joined the firm as Executive Vice President and General Counsel. Ms. Baum is now a member of R&T's executive leadership team and will oversee all aspects of the company's legal functions.

Prior to joining R&T, Ms. Baum was Head of Legal, TAA at Wolters Kluwer where she led the global Legal team for the Wolters Kluwer Tax & Accounting division. In this role, she managed a team of attorneys in the US, EU and AsiaPacific regions and was a member of the Executive Committee for the TAA division.

Previously, Ms. Baum spent over 10 years at M&T Bank where she served as Deputy General Counsel.  Ms. Baum commenced her career at M&T Bank supporting the Deposits and Cash Management divisions of the bank, and then led the Legal team for the Wealth and Institutional Services Division where she oversaw all legal aspects of M&T Bank's and Wilmington Trust's personal and corporate trust, private banking and investment management departments.  She also led the Enterprise-Wide Banking Legal Division which provided legal support to the compliance, AML/BSA, risk, third-party risk management, and privacy and cybersecurity functions of the bank.  In her last position, Ms. Baum led the Corporate Legal Division where she served as a member of the Disclosures Committee and oversaw M&T Bank's corporate governance, public disclosures, M&A transactions and bank regulatory matters.

"We are delighted to welcome Sabra to R&T," said Joseph Jerkovich, President. "She brings significant experience in the banking and finance industry which is a great asset to our team and the financial institutions we serve. Her proven leadership in running legal operations and serving as a strategic business partner will be critical to R&T's future success as we continue to grow."

Ms. Baum holds Bachelor of Laws and Bachelor of Arts degrees from Murdoch University in Australia, a Graduate Diploma of Applied Finance and Investment from the Securities Institute of Australia and a Masters of Law degree from University of Toronto.  

About Reich & Tang
R&T is a registered service mark of Reich & Tang deposit Networks, LLC and offers deposit and liquidity solutions to financial intermediaries around the country. Through its Demand Deposit Marketplace program, R&T provides banks with access to billions in reciprocal deposits, and underlying customers with access to high levels of FDIC insurance through participating banks. R&T is the trusted vendor of large broker dealers and other financial institutions that administers their insured cash sweep programs.  The firm is focused on providing unmatched client service by creating, improving, and delivering smarter ideas to help banks, brokerages, trust/wealth managers, RIAs, and public and private sector companies maximize the value of their deposit, liquidity, and short-term investment programs. 

In March 2022, R&T and Total Bank Solutions (TBS) entered into a definitive agreement to combine both companies.  The combined company will have total of assets under supervision of more than $220 Billion.  The transaction is expected to close by May 2022. 

Media Contact:

Teresa Murphy, R&T Deposit Solutions                 
212.830.5240
tmurphy@rnt.com

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