Privateer Holdings Hires Federal Reserve Bank Official
Dante Tosetti appointed Director of Treasury Compliance
SEATTLE–(BUSINESS WIRE)–Privateer Holdings, the world’s leading investment firm shaping the future of the global legal cannabis industry, today announced the appointment of Federal Reserve Bank Examiner Dante Tosetti as Director of Treasury Compliance. At Privateer, Tosetti will lead the development of new financial solutions for the cannabis industry while also continuing to strengthen Privateer’s commitment to the highest level of compliance with the complex financial laws and regulations governing the rapidly evolving legal cannabis industry.
“It’s no secret that banking is one of the legal cannabis industry’s biggest challenges,” said Michael Blue, founding partner and Chief Financial Officer of Privateer Holdings. “We are thrilled to welcome Dante to our industry-leading team of professionals. His hiring is another strategic milestone for us and a reflection of our commitment to operating with the highest standards of compliance while forging new ground in accelerating the development of the cannabis industry globally.”
Tosetti comes to Privateer with more than 18 years of commercial banking experience, including credit underwriting, business development, portfolio management, loan production and regulatory safety and soundness. Tosetti joined Privateer from the Federal Reserve Bank of San Francisco where he was a commissioned bank examiner. In addition to his work at the Fed, Tosetti has held numerous senior leadership positions at banks across California, including: Vice President of Sterling Savings Bank (now Umpqua Bank), Vice President of Heritage Bank of Commerce, Managing Director at First Republic Bank, and Vice President at Borel Private Bank & Trust Company (now Boston Private Bank & Trust).
“Privateer Holdings is a leader in the legal cannabis industry thanks to its commitment to compliance, starting with a strong tone at the top, along with a team of driven, distinguished professionals,” said Tosetti. “I am excited to work alongside Privateer’s expert team, including former federal law enforcement officials and Ph.D. scientists, to set new standards of excellence in the legal cannabis industry.”
Tosetti is the second former U.S. federal official to join Privateer Holdings’ team. In December 2013, Patrick Moen joined Privateer Holdings as Managing Director of Compliance and General Counsel. Prior to Privateer, Moen spent over 15 years in law enforcement, including more than 10 years as a highly-decorated criminal investigator and supervisor for the U.S. Drug Enforcement Administration (DEA). During his time with the DEA, Moen focused on complex criminal conspiracies involving large-scale drug trafficking organizations, and was responsible for overseeing a multi-agency task force. Moen was the first DEA official to leave for a position in the cannabis industry.
Based in Seattle, Washington, Privateer Holdings was founded five years ago as the world’s first cannabis industry private equity firm. Its portfolio of companies includes Leafly, the world’s leading cannabis information resource; Tilray, a global leader in medical cannabis research and production currently operating a state-of-the-art, federally-licensed cultivation facility in Canada; and Marley Natural, the official Bob Marley cannabis brand being developed in collaboration with the family of global cultural icon Bob Marley.
Privateer Holdings employs a team of more than 250 professionals across its portfolio companies, including investment bankers, venture capitalists, former federal law enforcement officials, Ph.D. researchers and chemists, horticulturalists, and marketers from world-leading brands like Starbucks, Microsoft, and Amazon. Meet Privateer’s entire team here.
About Privateer Holdings
Privateer Holdings is the world’s leading investment firm shaping the future of the legal cannabis industry. Visit www.privateerholdings.com to learn more.
Zack Hutson, +1-206-402-9122