Trevor Burgess
Trevor Burgess | |
|---|---|
| Born | United States |
| Occupation(s) | Entrepreneur, former investment banker |
| Known for | First openly gay CEO of a bank traded on the NYSE, CEO of C1 Financial, founder of TRB Development, CEO and majority owner of Neptune Flood Insurance |
Trevor Burgess is a U.S.-based entrepreneur and former investment banker who served as CEO of C1 Financial. He established TRB Development and holds the positions of president, majority owner, and CEO at Neptune Flood Insurance.[1]
Early life
Burgess has been openly gay since his adolescent years.[2] He completed his studies at Dartmouth College in 1994.[3] His career began as a management consultant with Monitor Company, followed by a decade-long tenure at Morgan Stanley spanning New York, Los Angeles, and London. During this period, he was involved in transactions exceeding $50 billion, notably leading the 2006 initial public offering for Chipotle Mexican Grill.[3] His last role there was Managing Director of Global Capital Markets, where he managed over 100 investment banking deals.[4][5] Subsequently, Burgess became a partner at Artesia Capital Management, a private equity firm with investments in both Brazil and the United States.[5]
Industry environment for LGBT workers
In 2012, the Human Rights Campaign underscored the difficulties faced by LGBT professionals: no openly gay CEOs were present among the Fortune 1000, and numerous states permitted termination based on sexual orientation.[6] Former BP CEO John Browne remarked that homophobic corporate cultures coupled with conservative boards frequently compel executives to remain closeted.[6] Todd Sears, who founded an LGBT finance leadership summit, noted that many executives only reveal their sexual orientation after retirement or posthumously.[6] A 2014 article in The Wall Street Journal confirmed that despite growing employer support, many LGBT workers continue to conceal their identities.Cite error: The opening <ref> tag is malformed or has a bad name
When Burgess became the first openly gay CEO in banking, he told CNBC, “If that can help the next generation of leaders come out and feel comfortable being authentic... I’m really lucky.”Cite error: The opening <ref> tag is malformed or has a bad name
Businesses
Burgess founded and formerly led C1 Bank along with its parent company, C1 Financial (NYSE: BNK). He assumed leadership of C1’s predecessor, Community Bank of Manatee, in December 2009. C1 Bank operated as a $1.7 billion institution targeting entrepreneurs with 31 branches throughout Florida. Burgess received accolades including the 2014 American Banker Community Banker of the Year and the 2013 Ernst & Young Florida Entrepreneur of the Year in financial services. In 2014, SNL ranked C1 as the sixth fastest-growing U.S. bank over a five-year span. The institution was acquired by Bank OZK in July 2016, providing IPO investors a 47% return within two years.
Following the sale of C1 Bank, Burgess partnered with Jon Carlon to launch TRB Development, concentrating on purchasing and developing residential land parcels that offer affordable, move-in-ready homes.
In 2018, Burgess gained majority ownership of Neptune Flood Insurance, which he co-founded with Jim Albert. The company specializes in flood insurance for both residential and commercial properties. Neptune filed a patent application for its AI-driven engine in 2019 and earned the Novarica Impact Award for Data & Analytics. Its policy count expanded from just 50 in early 2018 to more than 35,000 by 2020. Premiums reached $17 million at the end of 2019 with projections between $40 million and $50 million by year-end despite pandemic-related obstacles. Neptune was featured on CNBC’s Upstart 100 list in 2018 and ranked number 205 out of 5,000 on Inc. Magazine’s fastest-growing companies list as of August 2022.
In May 2023, Neptune Insurance sold a minority interest to private equity firms Bregal Sagemount and FTV Capital.
Personal life
Trevor Burgess made history as the first openly gay CEO of a bank traded on the New York Stock Exchange when C1 Financial, headquartered in St. Petersburg, Florida, completed a $44.7 million initial public offering in August 2014. In the company's SEC documentation, he revealed that his husband, Gary Hess, was a shareholder, thereby publicly acknowledging his sexual orientation. Together, Burgess and Hess are parents to a daughter named Logan.
His profile has appeared in Bloomberg Businessweek's "Out on the Street" feature as well as in the publication The G Quotient: Why Gay Executives are Excelling as Leaders. In 2013, Burgess was honored with the Ernst & Young Entrepreneur of the Year award for Florida’s financial services sector. Additionally, in 2015, both the Financial Times and OUTstanding recognized him among the foremost global LGBT executives. NBC News included him in their 2016 list titled "11 Out Business Leaders You Should Know," and by 2019, OUTstanding alongside Yahoo! Finance acknowledged him as one of the top 100 global LGBT+ executive role models.
Burgess and Hess are committed philanthropists supporting several charitable organizations. Amid the 2020 COVID-19 pandemic, they contributed 30,000 face masks to the community of St. Petersburg, Florida.
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