Meet Jeffrey Mercado, CFP of Sterling National Bank, a Grand Central Business Partner joining our slate of BPs this past year. Many of the members have had an opportunity to meet Jeffrey at our recent symposium, sessions and events. Let’s dive into our Q&A with Jeffrey Mercado:
Q: How would you describe yourself?
A: I enjoy meeting new people. I like to learn new things. I am hardworking and prefer cats over dogs.
Q: What do you do when you aren’t working?
A: I love spending time at home with my wife Annie and toddler son, Landon. We take advantage of what Long Island has to offer e.g., apple/pumpkin picking, going to Nassau Coliseum and the beach. For date night, my wife and I also enjoy movies and salsa dancing.
Q: What might someone be surprised to know about you?
A: I recently taught myself how to play the piano and find it very relaxing after a long day’s work.
Q: What would you tell someone who is thinking about working with you (Banking)?
A: Who you bank with should be more than just who provides the cheapest checking account or highest savings rate, your banker should be able to teach you better ways to manage your business/cash flow, operations and especially your clients’ money. A banker who knows law firms can provide advice based on how other law firms operate as well as other businesses.
Q: As a Business Partner, what sorts of trends do you see happening in your industry?
A: Greater awareness of law firms’ responsibility to protect against fraud and as a result, greater emphasis on cyber security and client data privacy. Financially, firms are looking harder at how they manage distributions and partner capital.
Q: What was your first impression of ALANYC Chapter?
A: My first impression was that the Chapter is a relationship first culture. I found the BP Relations Team was very organized, professional and willing to make themselves available to answer questions. The website is dynamic, informative, highly intuitive and easy to use. The diversity of law firm participation is great – from AM Law 100 to smaller firms.
Q: What has surprised you most about working with ALANYC?
A: The number of monthly events and touch points available for BPs to engage with the members, e.g., the Symposium, the educational luncheons, and to top it off, a number of social events to network as well.
Q: What do you wish other people knew about ALANYC?
A: That ALANYC offers BPs several opportunities to get involved, attend events and network with chapter members to promote BP branding and ensuring BPs get their ROI.
Q: What would you say are some of your strongest beliefs about Finance, Banking and Banking relationships in today’s legal industry?
A: A bank has to do more than cash checks and send wires. It is about helping our clients understand the variety of options that are available to manage their businesses for example, from who gets signing authority for banking transactions to the size and timing of distributions and best practices to safeguard client interests. There is no single way to manage the business.
Q: What else can you tell me about Sterling National Bank?
A: Not only is Sterling National the only commercial bank with dedicated law firm bankers for firms of all sizes, we’ve being doing it for decades. In addition, our Law Firm Banking team is committed to support diversity initiatives in the legal community. For example, we are a business partner to the Hispanic Bar Association of NJ; support the NYC Bar Association’s diversity initiatives; The Westchester Women’s Bar Association; and the Nassau County Women’s Bar Association.
Q: If you could be a superhero, which one would you be and why?
A: I have always been a fan of Captain America. He leads by example and makes decisions based on his personal ethical compass. He understands that by working as a team, even the most difficult challenges are possible to overcome. Plus, he proves himself worthy of carrying Thor’s hammer, so that makes him extra cool.
Jeffrey Mercado is a Senior Managing Director. Since January 2019, Jeffrey is also co-Head for the Law Firm Banking of Sterling National Bank. Prior to Sterling National Bank, Jeffrey was with Wells Fargo for nearly 20 years. Sterling National Bank is an Empire Club sponsor of ALANYC offering services in Banking, Equipment Leasing & Financing, Corporate Credit Card Program, Retirement Planning & Administration Services, Treasury Management and Escrow Services. View their profile here.