Shah will take over for current CEO Rich Berg, who will become Executive Chairman of the Board.
Performance Trust Capital Partners announces today that its current President Chirag Shah will be transitioning into the role of Chief Executive Officer, effective October 1, 2020. Performance Trust's current CEO and Co-founder, Rich Berg, will become Executive Chairman and continue to support the organization at the board and executive level.
Since its inception over 25 years ago, Performance Trust has been steadfast in its commitment to helping community-oriented financial institutions employ data to make more fully-informed decisions and produce stronger results. Now, as the company looks to the future, Shah is well positioned to assume leadership and see the organization into its next phase of growth.
"I'm incredibly honored to step into the role of CEO of Performance Trust and to steward an organization that positively impacts businesses and communities through their local banks and financial institutions," Shah said. "From my first meeting with Rich in 2008 I was struck by the genuine passion, energy and collaborative spirit that drive the company. I'm committed to preserving the legacy built by Rich and his co-founder Phil Nussbaum, while expanding our mission with his continued support."
Shah joined the firm in 2008 trading Structured Products and has since held various roles overseeing the Financial Institutions Group, Trading, Capital Markets and Investment Banking.
An M.I.T alumnus, Shah held positions at Banc of America Securities, LLC, and Kiva prior to Performance Trust.
In his 12 years at Performance Trust Shah has been a steadying influence as the firm has expanded and become more complex. Over the past few years, Shah has worked intimately with Berg to ensure the organization is set up to thrive for decades to come. Berg's move to the board will allow him to support that continued growth and act as a mentor to the strong leadership team he has built.
"As Executive Chairman of Performance Trust I'll continue to focus on the aspects of being CEO that I loved the most - engaging with clients, building close relationships and sparking creativity across the organization," Berg said. "Chirag has an unbelievable ability to earn and inspire trust - a rare but important quality in the world of finance. I've seen Chirag grow into a tremendous leader and I cannot wait to see the successes we'll have under his guidance."
At a time when independence and relevance are more linked to financial results than ever, Performance Trust is committed to helping its clients make the decisions necessary to continue fueling their communities while remaining the largest independent investment bank focused on community depository institutions.
"Rich's mathematical mind was a driving force behind the analytics that power Performance Trust, and I look forward to continuing his legacy and advancing the core mission of the organization," Shah said. "Local banks give local businesses and local people the opportunity to live the American dream. However, there are fewer depositories in existence today than there have ever been. As a firm, we are focused on helping those banks become stronger so they can support and strengthen their own communities. We grow stronger together."