Bruce Bent II is a people person who likes to be out of the office making things happen. He believes performance is more important than degrees. He believes in learning as much as possible and having faith in your own vision. He says that it’s also essential to bring value to your customers.
With these precepts in mind, Bent served as CEO of money market mutual fund The Reserve, leading it through 17 years. His tenure included difficult times in 2008, when he guided the company’s course by liquidating some of its assets. In the wind-down, investors received either 99 cents or 100 cents on the dollar. Before the financial crisis, The Reserve’s assets grew from $4 billion to $130 billion in its 17 years.
Today, Bent is vice chairman and president of Double Rock Corp., a financial services and technology company. Double Rock has six wholly-owned subsidiaries. The company grew from the invention of money market mutual funds in the 1970s, which became a multi-trillion dollar industry. Double Rock manages over $130 billion in assets and gives Americans of average means a way to earn interest and grow savings.
Two of Double Rock’s subsidiaries are Access Control Advantage, LLC and Island Intellectual Property, LLC. Access Control Advantage produces a complete loan automation program that makes loan processing easier. Island Intellectual Property manages patents and other intellectual property for Double Rock and its subsidiaries. Double Rock holds over 60 financial services patents.
With all this, Bruce Bent II is not one to let the grass grow under his feet. He belongs to the Young Presidents’ Organization, a group of savvy worldwide business leaders. He’s been a member of the Entrepreneurs’ Organization in Manhattan and the President’s Advisory Council of Scenic Hudson, which is devoted to restoring the Hudson River’s riverfront. Bent is also a member of the 99 Jane Street Condominium Association.
Bruce Bent II shows his real entrepreneurial spirit with some unusual advice. He says take out your lawn and plant a garden. “Everybody loves a fresh garden tomato,” he says. “You’ll make a small fortune.”