Trevor Burgess is an American entrepreneur. He was an investment banker and CEO of C1 Financial.[1] He is the founder of TRB Development and the president, majority shareholder and CEO of Neptune Flood Insurance.[2]
Burgess has been openly gay since his teenage years.[3] He graduated in 1994 from Dartmouth College.[4] He was a management consultant at Monitor Company, a Cambridge, Massachusetts firm, associated with Michael Porter.[5] Burgess spent ten years at Morgan Stanley as an investment banker in New York, Los Angeles and London, including "executing more than $50 billion in transactions for major clients, including Chipotle Mexican Grill, which he helped take public in 2006."[4] His last appointment was as a Managing Director in Global Capital Markets leading over 100 investment banking transactions such as the IPO for Chipotle.[6][5] He then went on to be a partner at Artesia Capital Management, a private equity firm with investments in Brazil and the U.S."[5]
Industry environment for LGBT workersEdit
In 2012 the Human Rights Campaign noted it was still an issue to be LGBT in the workplace as there were no openly gay CEOs in the Fortune 1000 and "U.S. Companies can still legally fire a worker for being gay in 29 states, and many subtle biases remain in the workplace."[7] Former BP chief John Browne noted that homophobic corporate cultures and board of directors keep people in the closet with corporations level of conservativeness rising with the company's size.[7] Todd Sears, founder of an annual LGBT leadership summit for the finance industry noted it was common for executives to not come out until they retired, or even be outed when they died.[7] The 'Wall Street journal' reported in March 2014 that it was still common for LGBT workers to stay closeted.[8]
On becoming the first openly gay banking CEO, Burgess told CNBC, “If that can help the next generation of leaders come out and feel comfortable being authentic, like kids who are in college and considering careers in finance or being entrepreneurs, I’m really lucky.”[9]
BusinessesEdit
Burgess is the founder and CEO of the former C1 Bank, and its bank holding company, C1 Financial (NYSE: BNK). Burgess served as a director of C1 after acquiring control of C1's predecessor bank, Community Bank of Manatee, in December 2009.[10]
C1 Bank was a $1.7bn bank[11] focused on the needs of entrepreneurs, and had 31 offices throughout Florida. Burgess was named the 2014 American Banker Community Banker of the Year [12] and was recognized as the 2013 Ernst & Young Florida Entrepreneur of the Year in the financial services category.[13] In 2014 SNL named C1 the 6th fastest growing bank[14] in the country over the prior five years. C1 Bank was acquired by Bank OZK in July 2016 generating a 47% return for its IPO investors in less than 24 months.[15][16]
After selling C1 Bank in 2016, Burgess formed TRB Development with his business partner, Jon Carlon. TRB Development is focused on "acquiring and developing residential home sites to deliver great value-priced, move-in-ready new homes."[17]
In 2018, Burgess purchased a controlling stake in Neptune Flood Insurance.[18] Burgess and co-founder Jim Albert offer residential and commercial flood insurance.[19] Neptune filed a patent for its Artificial Intelligence engine in 2019 for which it was awarded the Novarica Impact award for Data & Analytics.[20] Neptune has grown from 50 policies in January 2018 to over 35,000 in 2020. "It had $17 million in premium at the end of 2019, and Burgess projects $40 million to $50 million in premium, by the end of 2020 — even with the coronavirus-based business slowdown."[2] Neptune Flood Insurance was named to the CNBC Upstart 100 in 2018 of 100 promising start-ups to watch.[21] In August 2022, Neptune Insurance ranked 205 out of 5,000 on Inc. Magazine's fastest growing company list.[22]
In May of 2023, Burgess's company Neptune Insurance sold a minority stake to private equity firms Bregal Sagemount and FTV Capital.[23]
Personal lifeEdit
Trevor Burgess became the first openly gay CEO of a bank on the New York Stock Exchange when C1 Financial, which is based in St Petersburg, Florida, made a $44.7 million public offering in August 2014.[1][6][24] In the company's initial public offering filing to the Securities and Exchange Commission he disclosed that his husband, Gary Hess, held some shares thus confirming his sexuality in the disclosure.[3] Burgess and Hess have a daughter, Logan.[4][25]
He has been featured in Bloomberg Businessweek's "Out on the Street" and in the book, "The G Quotient-Why Gay Executives are Excelling as Leaders."[5] In 2013 he won Ernst & Young's Entrepreneur of the Year award in Florida's financial services category.[4] In 2015 the Financial Times in conjunction with OUTstanding, named Mr. Burgess one of the leading global LGBT executives.[26] In 2016, NBC News named Trevor one of "11 Out Business Leaders You Should Know."[27] In 2019, OUTstanding and Yahoo! Finance listed Trevor as one of the top 100 global LGBT+ executive role models.[28]
^ abMcCormick, Joseph Patrick (15 August 2014). "Wall Street welcomes first openly gay bank CEO on New York Stock Exchange". Pink News. Retrieved 17 August 2014.
^ ab"Flood insurance firm grows 366%, hits $7M in sales | Business Observer". Business Observer. 2020-05-08. Retrieved 2020-07-09.
^ abIvory, Danielle (15 August 2014). "A Gay Chief Makes History as His Bank Goes Public". New York Times. Retrieved 17 August 2014.
^ abcdKurpiela, Heidi. "Ask the Locals: Trevor Burgess of C1 Bank". CL Tampa Bay. Retrieved 17 August 2014.
^ abcd"C1 Bank Trevor R. Burgess Chief Executive Officer". Equality Florida & the Equality Florida Institute. Retrieved 17 August 2014.
^ abFeintzeig, Rachel (13 August 2014). "Openly Gay CEO Sets Milestone as Bank Goes Public". Wall Street Journal. Retrieved 17 August 2014.
^ abcKwoh, Leslie (24 July 2012). "A Silence Hangs Over Gay CEOs". Wall Street Journal. Retrieved 17 August 2014.
^FEINTZEIG, Rachel (6 May 2014). "Why Gay Workers Decide to Stay in the Closet, Employers Are More Supportive Than Ever, but Some Workers Still Worry About Negative Perceptions". Wall Street Journal. Retrieved 17 August 2014.
^Scipioni, Jade (8 June 2021). "Trevor Burgess, first openly gay CEO of public bank: 'Success is the best revenge'". CNBC. Retrieved 2022-08-17.
^"See one bank | Business Observer". Business Observer. 2015-04-10. Retrieved 2020-07-09.
^"Bank of the Ozarks to acquire C1 Financial for $402.5m". NS Banking. 2015-11-10. Retrieved 2020-07-09.
^Bank, C1. "C1 Bank CEO, Trevor Burgess, named American Banker's Community Banker of the Year". www.prnewswire.com (Press release). Retrieved 2020-07-09.
^LLP, Ernst & Young (2013-06-14). "Ernst & Young Announces Entrepreneur Of The Year(R) 2013 Award Recipients in Florida". GlobeNewswire News Room (Press release). Retrieved 2020-07-09.
^"For CEO of C1 Bank, a bonanza payout from sale to Bank of the Ozarks". Tampa Bay Times. Retrieved 2020-07-09.
^"Local Entrepreneurs to Transform Medical Building into Trendy Office and Restaurant". St. Pete Rising. 31 October 2019. Retrieved 2020-07-09.
^"Burgess Returns to St. Pete with Disruptive InsurTech Enterprise". St Pete EDC. 2018-10-16. Retrieved 2020-07-09.
^Manning, Margie (2019-12-23). "Big changes ahead for St. Pete insure-tech Neptune Flood". St Pete Catalyst. Retrieved 2020-07-12.
^"Neptune Flood wins insurtech award". St Pete Catalyst. 2020-07-08. Retrieved 2020-07-12.
^staff, CNBC com (2018-10-09). "CNBC unveils its annual list of 100 promising start-ups to watch". CNBC. Retrieved 2020-07-12.
^"Neptune Flood Incorporated is a 2022 Inc. 5000 honoree". Inc.com. Retrieved 2022-08-16.
^Ben-Hutta, Avi (2023-05-11). "Bregal Sagemount and FTV Capital invest in Neptune Flood". Coverager - Insurance news and insights. Retrieved 2023-05-12.
^Cohn, Emily (15 August 2014). "Meet The First Openly Gay CEO Of A Publicly Traded Bank". Huffington Post. Retrieved 17 August 2014.
^Stewart, James B. (2014-09-05). "Corner Closet Opens Up a Bit Wider". The New York Times. ISSN 0362-4331. Retrieved 2020-07-12.
^"The 100 out and proud heroes of the business world who have risen above barriers to success". www.ft.com. 2014-10-08. Retrieved 2020-07-12.
^"11 Out Business Leaders You Should Know". NBC News. 22 June 2016. Retrieved 2020-07-12.
^"The OUTstanding Top 100 Role Model LGBT+ Executives 2019". finance.yahoo.com. 30 October 2019. Retrieved 2020-07-12.
^"Dear St. Pete, help bring 30,000 more free masks to the Sunshine City". I Love the Burg. 2020-06-15. Retrieved 2020-07-09.
trevor, burgess, pseudonymous, elleston, trevor, american, entrepreneur, investment, banker, financial, founder, development, president, majority, shareholder, neptune, flood, insurance, nationalityamericanoccupationentrepreneurknown, forfirst, openly, bank, c. For the pseudonymous Trevor Burgess see Elleston Trevor Trevor Burgess is an American entrepreneur He was an investment banker and CEO of C1 Financial 1 He is the founder of TRB Development and the president majority shareholder and CEO of Neptune Flood Insurance 2 Trevor BurgessNationalityAmericanOccupationEntrepreneurKnown forFirst openly gay bank CEOSpouseGary HessChildren1 Contents 1 Early life 2 Industry environment for LGBT workers 3 Businesses 4 Personal life 5 ReferencesEarly life EditBurgess has been openly gay since his teenage years 3 He graduated in 1994 from Dartmouth College 4 He was a management consultant at Monitor Company a Cambridge Massachusetts firm associated with Michael Porter 5 Burgess spent ten years at Morgan Stanley as an investment banker in New York Los Angeles and London including executing more than 50 billion in transactions for major clients including Chipotle Mexican Grill which he helped take public in 2006 4 His last appointment was as a Managing Director in Global Capital Markets leading over 100 investment banking transactions such as the IPO for Chipotle 6 5 He then went on to be a partner at Artesia Capital Management a private equity firm with investments in Brazil and the U S 5 Industry environment for LGBT workers EditIn 2012 the Human Rights Campaign noted it was still an issue to be LGBT in the workplace as there were no openly gay CEOs in the Fortune 1000 and U S Companies can still legally fire a worker for being gay in 29 states and many subtle biases remain in the workplace 7 Former BP chief John Browne noted that homophobic corporate cultures and board of directors keep people in the closet with corporations level of conservativeness rising with the company s size 7 Todd Sears founder of an annual LGBT leadership summit for the finance industry noted it was common for executives to not come out until they retired or even be outed when they died 7 The Wall Street journal reported in March 2014 that it was still common for LGBT workers to stay closeted 8 On becoming the first openly gay banking CEO Burgess told CNBC If that can help the next generation of leaders come out and feel comfortable being authentic like kids who are in college and considering careers in finance or being entrepreneurs I m really lucky 9 Businesses EditBurgess is the founder and CEO of the former C1 Bank and its bank holding company C1 Financial NYSE BNK Burgess served as a director of C1 after acquiring control of C1 s predecessor bank Community Bank of Manatee in December 2009 10 C1 Bank was a 1 7bn bank 11 focused on the needs of entrepreneurs and had 31 offices throughout Florida Burgess was named the 2014 American Banker Community Banker of the Year 12 and was recognized as the 2013 Ernst amp Young Florida Entrepreneur of the Year in the financial services category 13 In 2014 SNL named C1 the 6th fastest growing bank 14 in the country over the prior five years C1 Bank was acquired by Bank OZK in July 2016 generating a 47 return for its IPO investors in less than 24 months 15 16 After selling C1 Bank in 2016 Burgess formed TRB Development with his business partner Jon Carlon TRB Development is focused on acquiring and developing residential home sites to deliver great value priced move in ready new homes 17 In 2018 Burgess purchased a controlling stake in Neptune Flood Insurance 18 Burgess and co founder Jim Albert offer residential and commercial flood insurance 19 Neptune filed a patent for its Artificial Intelligence engine in 2019 for which it was awarded the Novarica Impact award for Data amp Analytics 20 Neptune has grown from 50 policies in January 2018 to over 35 000 in 2020 It had 17 million in premium at the end of 2019 and Burgess projects 40 million to 50 million in premium by the end of 2020 even with the coronavirus based business slowdown 2 Neptune Flood Insurance was named to the CNBC Upstart 100 in 2018 of 100 promising start ups to watch 21 In August 2022 Neptune Insurance ranked 205 out of 5 000 on Inc Magazine s fastest growing company list 22 In May of 2023 Burgess s company Neptune Insurance sold a minority stake to private equity firms Bregal Sagemount and FTV Capital 23 Personal life EditTrevor Burgess became the first openly gay CEO of a bank on the New York Stock Exchange when C1 Financial which is based in St Petersburg Florida made a 44 7 million public offering in August 2014 1 6 24 In the company s initial public offering filing to the Securities and Exchange Commission he disclosed that his husband Gary Hess held some shares thus confirming his sexuality in the disclosure 3 Burgess and Hess have a daughter Logan 4 25 He has been featured in Bloomberg Businessweek s Out on the Street and in the book The G Quotient Why Gay Executives are Excelling as Leaders 5 In 2013 he won Ernst amp Young s Entrepreneur of the Year award in Florida s financial services category 4 In 2015 the Financial Times in conjunction with OUTstanding named Mr Burgess one of the leading global LGBT executives 26 In 2016 NBC News named Trevor one of 11 Out Business Leaders You Should Know 27 In 2019 OUTstanding and Yahoo Finance listed Trevor as one of the top 100 global LGBT executive role models 28 Burgess and Hess are involved with multiple charities In 2020 during the COVID 19 pandemic they donated 30 000 masks to the city of St Petersburg 29 References Edit a b McCormick Joseph Patrick 15 August 2014 Wall Street welcomes first openly gay bank CEO on New York Stock Exchange Pink News Retrieved 17 August 2014 a b Flood insurance firm grows 366 hits 7M in sales Business Observer Business Observer 2020 05 08 Retrieved 2020 07 09 a b Ivory Danielle 15 August 2014 A Gay Chief Makes History as His Bank Goes Public New York Times Retrieved 17 August 2014 a b c d Kurpiela Heidi Ask the Locals Trevor Burgess of C1 Bank CL Tampa Bay Retrieved 17 August 2014 a b c d C1 Bank Trevor R Burgess Chief Executive Officer Equality Florida amp the Equality Florida Institute Retrieved 17 August 2014 a b Feintzeig Rachel 13 August 2014 Openly Gay CEO Sets Milestone as Bank Goes Public Wall Street Journal Retrieved 17 August 2014 a b c Kwoh Leslie 24 July 2012 A Silence Hangs Over Gay CEOs Wall Street Journal Retrieved 17 August 2014 FEINTZEIG Rachel 6 May 2014 Why Gay Workers Decide to Stay in the Closet Employers Are More Supportive Than Ever but Some Workers Still Worry About Negative Perceptions Wall Street Journal Retrieved 17 August 2014 Scipioni Jade 8 June 2021 Trevor Burgess first openly gay CEO of public bank Success is the best revenge CNBC Retrieved 2022 08 17 See one bank Business Observer Business Observer 2015 04 10 Retrieved 2020 07 09 Bank of the Ozarks to acquire C1 Financial for 402 5m NS Banking 2015 11 10 Retrieved 2020 07 09 Bank C1 C1 Bank CEO Trevor Burgess named American Banker s Community Banker of the Year www prnewswire com Press release Retrieved 2020 07 09 LLP Ernst amp Young 2013 06 14 Ernst amp Young Announces Entrepreneur Of The Year R 2013 Award Recipients in Florida GlobeNewswire News Room Press release Retrieved 2020 07 09 6th fastest growing bank www bizjournals com Retrieved 2020 07 09 a href Template Cite web html title Template Cite web cite web a CS1 maint url status link 47 return www bizjournals com Retrieved 2020 07 09 a href Template Cite web html title Template Cite web cite web a CS1 maint url status link For CEO of C1 Bank a bonanza payout from sale to Bank of the Ozarks Tampa Bay Times Retrieved 2020 07 09 Local Entrepreneurs to Transform Medical Building into Trendy Office and Restaurant St Pete Rising 31 October 2019 Retrieved 2020 07 09 Burgess Returns to St Pete with Disruptive InsurTech Enterprise St Pete EDC 2018 10 16 Retrieved 2020 07 09 Manning Margie 2019 12 23 Big changes ahead for St Pete insure tech Neptune Flood St Pete Catalyst Retrieved 2020 07 12 Neptune Flood wins insurtech award St Pete Catalyst 2020 07 08 Retrieved 2020 07 12 staff CNBC com 2018 10 09 CNBC unveils its annual list of 100 promising start ups to watch CNBC Retrieved 2020 07 12 Neptune Flood Incorporated is a 2022 Inc 5000 honoree Inc com Retrieved 2022 08 16 Ben Hutta Avi 2023 05 11 Bregal Sagemount and FTV Capital invest in Neptune Flood Coverager Insurance news and insights Retrieved 2023 05 12 Cohn Emily 15 August 2014 Meet The First Openly Gay CEO Of A Publicly Traded Bank Huffington Post Retrieved 17 August 2014 Stewart James B 2014 09 05 Corner Closet Opens Up a Bit Wider The New York Times ISSN 0362 4331 Retrieved 2020 07 12 The 100 out and proud heroes of the business world who have risen above barriers to success www ft com 2014 10 08 Retrieved 2020 07 12 11 Out Business Leaders You Should Know NBC News 22 June 2016 Retrieved 2020 07 12 The OUTstanding Top 100 Role Model LGBT Executives 2019 finance yahoo com 30 October 2019 Retrieved 2020 07 12 Dear St Pete help bring 30 000 more free masks to the Sunshine City I Love the Burg 2020 06 15 Retrieved 2020 07 09 Biography portal Florida portal Retrieved from https en wikipedia org w index php title Trevor Burgess amp oldid 1156585142, wikipedia, wiki, book, books, library,
