A Conversation with Steven Nigro, Managing Partner of TAG Financial Institutions Group
The 61-year-old has more than three decades of experience in the investment banking for the insurance industry. He co-founded TAG in 2012, and it has since closed more than 250 deals. In a Zoom interview, he recently discussed what’s driving his firm’s success and what he plans to do next.
Nigro attributes TAG’s success in part to being a “specialist” instead of a “generalist.”
He said this approach has allowed them to be more selective and focus on deals that make sense.
“Specializing is important because we see things over and over again, we’ve recognized common issues and problems as they arise, we know how to solve them and we’re experts in the subject matter,” he said.
“Everybody in the firm here is an has significant in insurance. We have overlapping disciplines but also complementary disciplines as well. So, we’re able to approach each deal and solve problems and add certainty to close…Believe it or not, outside of the investment banking realm, we’ve helped them with their businesses by as an ancillary service by providing business and capacity for brokers or distribution for carriers. I don’t know how a generalist can approach some of our deals, especially the complex ones,” he added.
A firm’s success also depends on individual commitment at the highest level. Nigro often works on weekends and puts in long hours because he believes in his firm’s mission.
“I work all the time,” he said, “You know why? Because I love what I do. I’m in on weekends, not because it’s a chore but because it fuels me.”
He says he’s not going to retire “anytime soon” but has planned for a successful exit. He has created a perpetuation plan with his partner and others to take over his role and plans to stay on as a mentor.
“Thankfully, I have a partner and team that can take over. Maybe this happened serendipitously but I’ll take it.
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By Lou Sokolovskiy, Founder & CEO at Opus Connect