An executive at Square 1 Bank who has helped others finance startups is now launching his own business.
Alan Spurgin is stepping down as executive vice president at Square 1 Financial, and is leaving the company to pursue his own startup, which is “still in pre-launch,”Spurgin tells WRALTechWire.
The startup, is a “boutique advisory and consulting firm focusing on emerging and lower middle-market growth companies,” according to Spurgin.
Though the firm will be “national in scope,” Spurgin says that it will “have a particular focus on the Southeast.
Spurgin, who joined Square 1 Bank in October of 2009, plans to stay engaged in the Triangle’s entrepreneurial community.
This includes maintaining a position on the board of directors for CED, the council for entrepreneurial development.
Miriam Wilson, development director at CED, says that Spurgin intends to stay active in the community through his involvement with the board of directors and that “his new company will be joining CED.”
Square 1 Bank has not commented on plans to replace Spurgin, who was responsible for the Bank’s activities in the Eastern U.S.
“Al has been a great leader for Square 1 Bank, and we appreciate his many contributions to our growth and success,” said Doug Bowers, CEO and president of Square 1 Bank.
“Al has decided to leave to pursue an exciting new venture, providing consulting services to high-growth companies,” he added. “We look forward to working with Al again in the future, as activities from his new venture ensue.”
