IntraFi, a leading fintech that specializes in providing cash and liquidity management solutions to financial services firms, announced today it has hired Diane Ellis as a senior managing director.
Ellis retired from the FDIC on May 31 as director of the division of insurance and research following a 34-year career at the agency.
“I’ve known and respected Diane for years for her work,” said Mark Jacobsen, Cofounder and CEO of IntraFi. “It’s terrific to be able to bring her on board, where her vast experience will be a significant asset as we offer new products and seek to grow further.”
Ellis will start in September, helping to lead new initiatives under development.
Ellis recently capped off a long and storied career at the FDIC. She was appointed to lead the agency’s insurance and research arm in 2013, a division with more than 200 employees, including economists and financial and policy analysts. As part of that role, she was responsible for macro risk and regulatory analysis, banking data and statistics, risk-based deposit insurance pricing, and management of the Deposit Insurance Fund.
Ellis previously served in several other critical roles at the FDIC, including as deputy director of financial risk management and research and deputy to the vice chairman. In the aftermath of the 2008 financial crisis, she led the development and implementation of the Temporary Liquidity Guarantee Program and helped implement new authorities granted to the FDIC by the Dodd-Frank Act. She joined the FDIC in 1988 as an examiner during the savings and loan crisis.
Additionally, Ellis has twice been elected to serve as a member of the Executive Council for the International Association of Deposit Insurers, an association of deposit guarantee systems around the world.
“I’ve long admired IntraFi for the innovative work it does around deposits and providing liquidity to banks large and small,” said Ellis. “I’m excited to work on new products and services to help support the banking industry.”
Chosen by thousands of banks since its founding more than two decades ago, IntraFi has assembled the nation’s largest bank deposit network. Its solutions connect financial institutions of all sizes to help each build stronger relationships with its customers, fund more loans, seamlessly manage liquidity needs, and earn fee income. As the nation’s #1 provider of reciprocal deposits solutions and a leading provider of overnight and term funding options, IntraFi has the scale to be a strategic partner for even the largest bank’s funding and capital management needs, or for the smallest.
