Stephen Rotella, the CEO of StoneCastle Cash Management LLC, is a well known businessman with many interest. Rotella not only serves as the CEO of StoneCastle, he is also the chairman of LIFT’s National Board and a renowned philanthropist. He is devoted to the community, serving on many Boards such as YouthCare and and The Seattle Foundation. By working with LIFT he will be assisting communities even further by helping to combat poverty cycles in the US. He has an abundance of ties and experience in banking, retail, marketing, and development.
Stephen Rotella has been involved in business his entire adult life. He earned his Bachelors degree in Economics from State University of New York at Stony Brook in 1975, going on to earn his MBA in Information Systems/Finance from State University of New York in 1978. Although he is best know for his role as CEO of StoneCastle Cash Management LLC, Rotella is affiliated with several other well known businesses including WMIH Corporation, JP Morgan Chase and Company, and even his alma mater State University of New York and Stony Brook.
Stephen Rotella is well established now, however, there was a time when he faced quite a bit of controversy. In 2011 Rotella was serving as the COO and President of Washington Mutual Inc. when the company was sued for by the FDIC for gross negligence. In their official complaint the FDIC stated that Rotella and CEO Kerry Killinger “focused on short-term gains to increase their own compensation, with reckless disregard for WaMu’s longer term safety and soundness.” While Killinger was irate and released several public statements to express his distaste, Rotella only commented on his dismay that his wife and family would now be drug through the media. Eventually, Rotella along with Killinger and business partner, David Schneider, agreeded to a $64 million settlement. This amount was a far cry from the $125 million that the FDIC had sued for originally.
After moving past the incident with Washing Mutual Inc. Rotella went on to continue his career in the business field. He was elected to LIFT’s National Board in 2015 and still holds the position of CEO for StoneCastle Cash MAnagement LLC. He devotes his free time to helping those under privileged with special interest in home ownership and the arts.