Key Takeaways
- • Cascadia Capital, an Austin, Texas-based independent investment bank serving middle-market companies, appointed Rhett Thurman as Chief Financial Officer, according to a Business Wire release.
- • Thurman will oversee finance, strategic planning, human resources, technology, and operations at the firm.
- • Thurman previously spent 16 years at Cain Brothers, the healthcare-focused investment bank, where he served as Managing Director, CFO, Chief Administrative Officer, and board member until its 2017 acquisition by KeyBanc Capital Markets.
- • The hire follows 16 senior additions over the past 18 months, including 13 Managing Directors, as Cascadia pursues growth since Atlas Merchant Capital's 2022 investment.
Summary
Cascadia Capital, an independent investment bank serving middle-market companies, has named Rhett Thurman as Chief Financial Officer, the firm announced in a Business Wire release. Thurman brings more than four decades of experience in financial services and a track record of helping investment banking and financial services businesses scale, expand their capabilities, and execute long-term strategic initiatives. In the role, he will oversee finance, strategic planning, human resources, technology, and operations, working with Cascadia's senior leadership.
Chairman and CEO Michael Butler said the appointment reflects the firm's commitment to building the leadership and infrastructure needed to support its long-term ambitions. Butler said the firm has deliberately invested in experienced bankers and expanded its expertise in the middle market. Since Atlas Merchant Capital made a significant investment in Cascadia in 2022, the firm has added 16 senior-level professionals over the past 18 months, including 13 Managing Directors, strengthening coverage across Technology, Healthcare, Industrials, and Consumer. The firm also established a Silicon Valley office and launched Equity Capital Solutions and Restructuring & Special Situations offerings. Bob Diamond, Founding Partner and CEO of Atlas Merchant Capital, said the firm has made tremendous progress and that the appointment reinforces Atlas's confidence in Cascadia's future.
Thurman spent 16 years at Cain Brothers, where he served as Managing Director, Chief Financial Officer, Chief Administrative Officer, and a board member. He helped lead strategic planning, corporate development, and financing and treasury activities as the firm evolved from its hospital municipal finance roots into one of Wall Street's largest middle-market healthcare boutique M&A advisory firms, before its 2017 acquisition by KeyBanc Capital Markets. Most recently, Thurman served as CFO of Angle Health, an AI-native health insurance company serving the US small and medium-sized business market, where he led strategic finance, capital formation, and financial operations. Earlier, he was Managing Director and CFO/CAO at Prager & Co., where he led recapitalization and restructuring efforts and helped guide the firm's combination with Hilltop Securities.
Thurman said he has known Cascadia's leadership for many years and was attracted by the strength of the team, its accomplishments, and its vision. Cascadia describes itself as a pure advisory firm that is not conflicted by trading, lending, research, or cross-selling business, and says it has operated for over 25 years serving middle-market entrepreneurs, family-owned businesses, and private equity firms.
Chairman and CEO Michael Butler said the appointment reflects the firm's commitment to building the leadership and infrastructure needed to support its long-term ambitions. Butler said the firm has deliberately invested in experienced bankers and expanded its expertise in the middle market. Since Atlas Merchant Capital made a significant investment in Cascadia in 2022, the firm has added 16 senior-level professionals over the past 18 months, including 13 Managing Directors, strengthening coverage across Technology, Healthcare, Industrials, and Consumer. The firm also established a Silicon Valley office and launched Equity Capital Solutions and Restructuring & Special Situations offerings. Bob Diamond, Founding Partner and CEO of Atlas Merchant Capital, said the firm has made tremendous progress and that the appointment reinforces Atlas's confidence in Cascadia's future.
Thurman spent 16 years at Cain Brothers, where he served as Managing Director, Chief Financial Officer, Chief Administrative Officer, and a board member. He helped lead strategic planning, corporate development, and financing and treasury activities as the firm evolved from its hospital municipal finance roots into one of Wall Street's largest middle-market healthcare boutique M&A advisory firms, before its 2017 acquisition by KeyBanc Capital Markets. Most recently, Thurman served as CFO of Angle Health, an AI-native health insurance company serving the US small and medium-sized business market, where he led strategic finance, capital formation, and financial operations. Earlier, he was Managing Director and CFO/CAO at Prager & Co., where he led recapitalization and restructuring efforts and helped guide the firm's combination with Hilltop Securities.
Thurman said he has known Cascadia's leadership for many years and was attracted by the strength of the team, its accomplishments, and its vision. Cascadia describes itself as a pure advisory firm that is not conflicted by trading, lending, research, or cross-selling business, and says it has operated for over 25 years serving middle-market entrepreneurs, family-owned businesses, and private equity firms.
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