Evan Russo Appointed President of Cross River Bank
Veteran banker Evan L. Russo will become President of Cross River Bank on October 1, 2026, bringing decades of financial services leadership to strengthen the bank's digital infrastructure.
Evan L. Russo has been named President of Cross River Bank, effective October 1, 2026. The appointment brings a veteran financial executive with more than two decades of experience to lead the bank's strategic operations.
Russo joins from the board of Cross River, where he served as Lead Independent Director since April. His extensive career includes serving as CEO of Lazard Asset Management, where he led the global asset-management business. Before that, he was Chief Financial Officer of Lazard Ltd. and Lazard Group, and co-head of the firm's Capital Markets and Capital Structure Advisory practice. Russo previously held investment banking roles at Goldman Sachs and Barclays Capital, advising corporate clients on strategic mergers, restructuring, and financial transactions.
Role and reporting structure
In his new role, Evan Russo will report directly to Gilles Gade, the Founder, CEO and Chairman of Cross River. Russo will also continue to serve on the company's Board of Directors. Following his move, Shimshon Gross has been appointed as the new Lead Independent Director. Gross has served on the Cross River Board since the company's inception in 2008.
Cross River’s strategic position
Cross River Bank is a US-chartered bank that operates as a technology infrastructure platform. It provides core banking services like payments, credit, and digital asset solutions to over 100 technology firms. The company aims to be a trusted infrastructure layer for embedded financial services. Its partners include major names such as Affirm, Stripe, Coinbase, Upstart, and Plaid.
The bank's international presence is currently much smaller than its domestic operations, which presents a clear opportunity for global expansion. The parent company, CRB Group, Inc., is pushing to deepen institutional capabilities across payments, banking, and digital assets.
Industry context on digital-asset integration
Banks face significant hurdles in scaling new financial technologies like digital assets. A recent industry study highlighted that skill gaps are a major barrier. Forty-two percent of banks cite a lack of expertise as a hurdle to digital-asset adoption.
The integration work for such services is extensive. Industry estimates suggest that selecting a digital-asset custodian accounts for only 10% to 15% of the total effort. The remaining 80% to 85% involves linking the provider to the bank's own systems and meeting complex regulatory requirements. This process spans technology, payments, compliance, governance, and existing banking infrastructure. Success requires combining digital-asset expertise with deep knowledge of core banking systems, settlement, and operational controls within a regulated framework.
Russo’s vision for the role
Evan Russo stated that Cross River is well-positioned to support the next generation of financial services. He expressed excitement about working with Gilles Gade and the team to scale the platform. His focus will be on strengthening institutional capabilities and positioning Cross River as the preferred partner for companies shaping the future of finance. Russo will work alongside Gade and the Cross River team to scale the platform and strengthen institutional capabilities.
