Nate Stulman is a Managing Director and leads Solomon Partners’ Financials & FinTech sector. He joined the firm in 2020.
Nate previously served as a Managing Director at Moelis and Greenhill. He advises established and emerging financial services, commerce and technology companies, as well as financial sponsors and SPACs, on mergers & acquisitions, capital raising and major strategic partnerships. Core areas of expertise include banking, credit cards, digital assets, lending, loyalty, point of sale and the underbanked.
2021 announced transactions (all as sole financial advisor) include:
- Gap on its movement of its $3.8B credit card program to Barclays and Mastercard from Synchrony and Visa
- Bakkt, a subsidiary of Intercontinental Exchange, on its $2.7B merger into VPC Impact Acquisition Holdings, a SPAC associated with Victory Park Capital
- CIBC on its C$3.0B acquisition of the Costco Canada credit card portfolio from Capital One
- BJ’s Wholesale Club on its movement of its $1.5B credit card program to Capital One from Alliance Data Systems
- A leading Point of Sale consumer lending platform on a $1B forward flow agreement with a top 15 US bank holding company
- Aries I Acquisition Corp. on its $700M merger with InfiniteWorld, a leading Metaverse infrastructure platform for brands
- PayBright on its C$340M sale to Affirm
- Stoic Lane on a $175M capital raise anchored by Oaktree in conjunction with the acquisition of Interfirst Mortgage
Nate is a leading investment banker to the North American credit card sector, having advised on more than $50B in transactions over the past decade. He advised Walmart on the movement of its $8B credit card business to Capital One from Synchrony; Aimia on its sale of Aeroplan to Air Canada and the renegotiation of credit card partnerships among TD Bank, CIBC, Visa and American Express; L.L.Bean on the movement of its multi-billion dollar credit card business to Citi and Mastercard from Barclays and Visa; Dillard’s on the movement of its multi-billion dollar credit card business to Wells Fargo from GE Capital; and TD on its acquisitions of $2B of credit card assets associated with Nordstrom and $6B of credit card assets associated with Target. He has relationships with issuers, networks and merchant partners as well as with Fintechs seeking to transform the credit card ecosystem.
In addition to credit cards, Nate has substantial experience in consumer finance, including bank, nonbank and captive; traditional and tech-enabled; unsecured and secured; and prime and nonprime.
Outside of lending, he has leading expertise in banking, digital assets, loyalty, point of sale and the underbanked. He also advises retail, commerce and technology companies on their ambitions in finance.
Over the years Nate has advised such major players as American Express, Alliance Data, Bank of America, CIBC, Citi, Citizens, ECN, FNBO, First Republic, GoodLeap, GreenSky, ICE, LendingClub, Synchrony, TD, Wells Fargo and Zip Pay.
Nate holds an MBA from Harvard Business School and a BA in Economics and Political Science from Swarthmore College.
Served as financial advisor to CIBC on its acquisition of the Costco Canada credit card portfolio from Capital One
Served as sole financial advisor to BJ’s Wholesale Club on its agreement to move its credit card program and portfolio to Capital One from Bread Financial
Serving as sole financial and capital markets advisor to Aries I Acquisition Corporation on its merger with Infinite Assets, Inc
Served as sole financial advisor to StoicLane on its capital raise anchored by Oaktree Capital Management in conjunction with its acquisition of Interfirst Mortgage Company
Served as sole financial advisor to Gap on its agreement to move its credit card program and portfolio to Barclays and Mastercard from Synchrony Financial and Visa
Served as sole financial advisor to Bakkt on its merger with VPC Impact, a SPAC sponsored by Victory Park Capital
Served as sole financial advisor to PayBright on its sale to Affirm
Served as sole financial advisor to Mattress Firm on its amendment of its consumer financing partnership with Synchrony Financial