Transparency and liquidity are often challenges for privately held banks as they interact with shareholders. My Private Shares—a Fort Lauderdale, Fla., investor relations technology and advisory firm—has been founded to ease those important touchpoints. The firm’s co-founders Pete Scully and Blue Ocean Capital partners John Antolik and Mike Christ, explain how.
Private Bank Shareholder Liquidity & Transparency
The Shareholder Liquidity Problem for Private Banks
Scully’s entry into private banking began over a decade ago. It came, in part, from his interactions with the co-owner of a North Carolina bank. Their back-and-forth conversations revealed an interesting opportunity.
Scully recalls some of those exchanges, especially one that proved to be interestingly insightful.
“The vast majority of community banks in the U.S. are privately held, and they will never go public,” Scully says, recalling the circumstances behind his big idea. “Regulators don’t like it when bankers speak directly with individual shareholders about pricing, and attorneys strongly advise against it.”
The true lightbulb moment came when the bank’s co-founder reached out to him with a pressing issue: Shareholders were struggling to find a way to sell or transfer shares without creating a compliance risk for the bank.
Scully recalls, “The CEO told me he was spending nearly a third of his time dealing with shareholder inquiries, and it was taking away from his ability to run the bank effectively. I realized there had to be a better way.”
How My Private Shares Solves the Shareholder Liquidity Challenge
Recognizing this challenge, Scully was intrigued when approached by John Antolik about his plan to create My Private Shares, a simple to use, yet sophisticated bulletin board system where banks could facilitate shareholder transactions without taking direct involvement. “It saves time, mitigates risk, and offers a structured solution for investors looking to buy or sell shares,” Antolik explains. “Bank executives no longer have to spend countless hours navigating these complex interactions.”
My Private Shares’ Expertise in Banking & Investor Relations
Pete Scully: Private Bank Investor Relations
Scully’s background in corporate finance—including time at PwC in New York and later with a bank services startup—prepared him well for the new venture. “I caught the community bank bug earlier in my career and never looked back,” he admits. “I wanted to build a better solution, and when I met John and Mike, we knew we could create something impactful in this market.”
John Antolik: Expertise in Asset Management & Private Equity Investing
Antolik and his 15-year Blue Ocean Capital partner Mike Christ came to My Private Shares from a background in asset management and private equity investing.
“I spent years raising capital and investing in small to mid-sized companies,” Antolik says. “I worked with numerous firms where the challenge wasn’t just raising money but also managing investor relationships and liquidity after the investment was made.”
Before joining My Private Shares, Antolik spent a significant portion of his career in banking, holding key positions at First Union and Wachovia before its merger with Wells Fargo. “I was fortunate to work in institutions that were instrumental in shaping the banking landscape,” Antolik explains. “At First Union, I saw firsthand how community and regional banks operate, because of acquisition heavy First Union. Later, at Wachovia, I was part of the team focused on capital management and financial strategy.”
Mike Christ: Private Bank Investment & Bank Strategist
Christ is the former Deputy Chief Investment Officer at Guggenheim and current board member of Parkside Financial Bank and Trust. “Over the years, I’ve spoken with countless bank executives, directors, and investors. From those conversations, I’ve heard that, in the privately held bank space, investor-to-investor communication has always been a big concern that has been sidestepped in the industry.”
Solving Shareholder Communication Challenges for All Private Companies
When Antolik and Christ were introduced to Scully, they were immediately intrigued and later saw the potential of My Private Shares. “This communications challenge wasn’t just a problem for banks—it was a problem for many private companies,” Antolik recalls. “Executives are often so focused on raising capital that they don’t have a clear plan for handling their investors post-raise. This platform provides a way to manage those relationships and offer structured liquidity options.”
User-Friendly Shareholder Management
Together, they nurtured the fledgling business idea.
“It started as a simple listing service but evolved into a full investor relations and liquidity management system,” Scully remembers. “We made sure it was user-friendly, especially for older shareholders who may not be as tech-savvy.”
When asked how the platform works, Scully responds, “It’s pretty simple to use, but if your investors are technology-challenged, we love holding their hands.
“Investors can log in and see a list of all current posts—sometimes anonymous—indicating that shareholders are looking to buy or sell. The moment a post is created, investors receive an instant alert. They can then respond with a private message, negotiate terms, and finalize the transaction directly.”
He emphasizes that the process provides not only transparency but also helps avoid bank compliance risks associated with direct shareholder interactions.
As for cost, Antolik clarifies: “Unlike a broker-dealer, we don’t complete transactions on the platform. Nor are we paid on their success.
“Our pricing strategy is a subscription model comprising an annual fee, determined by shareholder count and specific needs, plus a small startup fee. But there are no long-term contracts,” he concludes.
Innovation in Shareholder Management
Looking to the future, they envision significant expansion. With a growing team and increasing demand, they see My Private Shares on an upward trajectory.
“We’re constantly improving the platform, adding new features, and ensuring top-tier security,” Antolik says. “We didn’t just set out to build a better mousetrap, we are building the best mousetrap. Our clients keep bringing us excellent ideas to help enhance the product, and we listen to them.
“We are a company that has a product built around communication and trust. What we’ve built here not only solves problems for investors and bank executives but also enhances trust within financial institutions.”
He continues: “That’s the goal. We want to make investor relations and liquidity seamless, transparent, and secure. And we’re just getting started.”
Enhance Shareholder Value & Liquidity
Their impact is already being felt across the private banking and investment landscape. My Private Shares is not just a business—it’s a solution to a long-standing industry challenge, and its potential is only growing.
With an upcoming webinar on February 25th, My Private Shares continues to educate and expand its reach. Banking+ readers interested in learning more can join their webinars or schedule a demo on the My Private Shares website.
