Source: Fortune
Summary
James Francisco Turner Lazaro describes his career in finance, starting in investment banking during the dotcom era and later working in private equity. He moved to London, where he handled debt-to-equity conversions for telcos, and later helped launch an e-money business that expanded across Europe. He joined The Bancorp, then joined Banc of California, where he helped grow the bank significantly. After leaving, he noticed a gap in financial services for creators and freelancers, leading to the founding of MAKE, a banking platform tailored for modern income streams.
Our Reading
The numbers tell one story.
Turner Lazaro built a bank from scratch, growing it to $17 billion in assets and a $1.7 billion market cap.
He saw a gap in financial services for non-traditional earners and launched a new platform.
He focused on compliance and infrastructure, not just product.
Big banks are missing a fast-growing market by sticking to old models.
Author: Evan Null
Early Career in Finance
Turner Lazaro began his career in investment banking during the dotcom boom and bust, working in private equity for a multibillion-dollar fund. He later moved to London, where he handled debt-to-equity conversions for telcos, often involving layoffs and restructuring.
Transition to Digital Finance
In the early days of digital finance, he co-founded a company that obtained one of the first E-money licenses in Europe. The company expanded to over 20 countries, offering card services, virtual bank accounts, and P2P transactions, helping southern European corporations move away from cheques.
Joining The Bancorp and Banc of California
After selling his company to The Bancorp, he moved to the U.S. and ran Institutional Banking. He later joined Banc of California, where he helped grow the bank from 60 employees to 2,000 and from $600 million in assets to $17 billion.
Observing the Creator Economy
After leaving Banc of California, Turner Lazaro noticed a shift in corporate spending from traditional media to individual creators and entrepreneurs. He saw a gap in financial services for people with non-traditional income streams.
Founding MAKE
He launched MAKE, a banking platform designed for creators, freelancers, and digital entrepreneurs. The company focused on compliance, risk, and infrastructure, building trust through technology and global transaction monitoring.
