Spotlight – Michael J. Spatacco
Posted: March 30, 2020
Michael J. Spatacco serves Bancroft Capital as a Plankowner and Director of Cash Management. With more than 10 years of industry experience, he was previously responsible for the creation and management of the Retirement Plan Consulting Division at CFG Capital Markets. Read on to learn what inspired Michael to pursue finance and why he’s proud to work at Bancroft Capital.
Hometown
Malvern, PA
Education
Attended St. Joseph’s University with a concentration in Financial Planning.
Why did you decide to join the Bancroft Capital team?
Bancroft was a unique opportunity for me to pair my passion for work with my patriotism and desire to give back to veterans. When we set out to raise the money for Bancroft I knew I would only be fortunate to join as an employee if we were successful in that initial mission, and here we are!
Tell us about your duties/day to day experience at Bancroft Capital.
As Director of Cash Management, I help our clients access high quality money market instruments through the Bancroft Capital Money Market Portal. I work to add value for those same clients with corporate and/or municipal transactions in addition to fostering access to new investors via the commercial paper market. I am also heavily involved in the Closed End Fund business that Bancroft has built where we have been among the pioneers in the resurrection of that product after the change in fee structuring.
Why are you proud to work at Bancroft Capital?
I am proud to work at Bancroft Capital because it is an opportunity to do good by doing well. The implementation and expansion of our Veteran Training Program by way of our revenues and profits fuels me to get in front of everyone I can to tell them what we are doing.
What is your greatest professional achievement to date?
Earning the trust and support of Bancroft’s customers. The ability to work on behalf of companies like Dominion Energy, Boeing, UBS, DoubleLine and PIMCO is something I’ve dreamed of my whole life (yes, seriously). Helping those customers meet their goals is immensely satisfying.
What assets/skills do you bring to your customers?
In addition to over 10 years’ experience, I bring a dedication to getting the job done no matter what it takes. My desire to reach that endpoint, coupled with the excitement I often feel as a derivative of opportunities forged here at Bancroft, drives me to work harder than I ever knew possible in pursuit of my client’s wins while having a great time doing so.
What are your thoughts on Bancroft’s mission to hire veterans?
I always felt like I missed the bell for military service; it felt like a box unchecked. I view Bancroft as my opportunity to positively impact the veteran community in whatever small way I can. What we do at Bancroft makes me so proud. I try to honor my commitment to the program by offering guidance wherever possible while also listening and learning as often as I can. The competency, personality and professionalism of the candidates in our Veteran Training Program has been inspirational.
Do you have any ties to the veteran community? If so, please elaborate.
Both of my grandfathers served: my paternal grandfather Frank Spatacco in the U.S. Army, and my maternal grandfather Joseph Morris in the U.S. Navy.
What’s your favorite part about working at Bancroft Capital?
The people I work with. I am so fortunate to have a group of unbelievably talented and experienced professionals around me to draw upon for wisdom. Those talented professionals also happen to be good, kind, hardworking people who look out for one another and work overtime to foster knowledge and understanding in our candidates. The energy and spirit in our trading roof is palpable, and that is due in large part to our veteran employees. It is a special place to work. Late Friday afternoon name-that-tune is pretty cool, too.
How did you get into the field of finance?
My Dad was in the business and I was always drawn to it. When most toddlers were getting the ABC’s I was getting the Bears and Bulls with a side of tech troubleshooting so we could paper trade foreign markets. In the 5th grade I won the Stock Market Game for the State of Pennsylvania. From that point forward I knew without a doubt what I wanted to do.
Favorite quote?
“I am a great believer in luck, and I find the harder I work, the more I have of it”
Thomas Jefferson
When you’re not working, what are your interests/hobbies?
I am a big sports fan, and a four-for-four Philadelphia sports fan. I coach ice hockey for my two sons Michael and Steven at the Lower Merion Ice Hockey Club, and on the rare occasion I can find the time, I enjoy playing golf.