Alan Weichselbaum
About Alan Weichselbaum
Alan Weichselbaum, age 61, is a Class I director of FinWise Bancorp. He first joined the Board in May 2015, served until May 2021, and was reappointed in October 2022. He began his career at Price Waterhouse and became a Certified Public Accountant, later working as a sell-side analyst and hedge fund manager. He founded The Wexus Group, a financial consulting firm to small and mid-sized businesses, in 2010 and currently serves as its CEO; he holds an MBA from New York University (1999) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Price Waterhouse | Certified Public Accountant | Not disclosed | CPA credential; foundational financial reporting expertise |
| Wall Street (sell-side/hedge fund) | Sell-side analyst and hedge fund manager | Not disclosed | Capital markets, research, and investment acumen |
| The Wexus Group | CEO & Founder | 2010–present | Financial consulting to SMEs; founder leadership |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| — | — | — | No other public company directorships disclosed in the 2025 proxy for Weichselbaum . |
Board Governance
| Attribute | Detail |
|---|---|
| Board Class | Class I director; term expires at 2027 annual meeting |
| Director Since | 2015; served until May 2021; reappointed October 2022 |
| Age | 61 |
| Independence | Board identifies seven independent directors; Weichselbaum is not listed among them (i.e., not designated independent) |
| Committee Assignments (2024) | Audit: No; Compensation: No; Nominating & Corporate Governance: No |
| Board Meetings (2024) | 17 meetings |
| Attendance (2024) | Each incumbent director attended at least 75% of Board and applicable committee meetings |
| Executive Sessions | Independent directors generally meet in executive session at least twice annually |
| Annual Meeting Attendance (2024) | All directors in attendance |
| Committee Meeting Counts (2024) | Audit: 8; Compensation: 4; Nominating & Corporate Governance: 4 |
Fixed Compensation
| Year | Cash Retainer ($) | Stock Awards ($) | Other ($) | Total ($) |
|---|---|---|---|---|
| 2024 | 67,650 | 40,005 | — | 107,655 |
Director compensation structure (2024 program):
- Approximately 35% of non-employee director compensation paid in restricted shares of common stock .
- Retainer schedule: Normal outside director monthly $5,833 / annual $70,000; Lead Independent Director monthly $7,083 / annual $85,000; Committee Chair fee $9,000; Committee member fee $3,600 .
Performance Compensation
| Component | Structure | Metrics/Conditions |
|---|---|---|
| Director equity (restricted stock) | ~35% of director pay delivered in restricted shares; grant-date fair value accounting | No performance metrics for director awards disclosed in proxy; program described as retainer-based |
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Current public company boards | None disclosed for Weichselbaum |
| Committee roles at other companies | None disclosed |
| Potential interlocks | None disclosed involving Weichselbaum |
Expertise & Qualifications
- Certified Public Accountant; prior roles in sell-side research and hedge fund management, indicating strong financial, analytical, and capital markets expertise .
- CEO/founder of The Wexus Group (financial consulting), suggesting operational and advisory experience with SMEs .
- MBA (NYU, 1999) .
Equity Ownership
| As-of Date | Shares Beneficially Owned | Percent of Class | Shares Outstanding Reference |
|---|---|---|---|
| April 21, 2025 | 53,342 | <1% | 13,214,827 shares outstanding |
Notes:
- No options or warrants are footnoted for Weichselbaum in the beneficial ownership table; vested/unvested breakdown not disclosed for him .
- Company hedging/pledging policy: Board discourages derivative/speculative transactions in unvested stock, but has not implemented a prohibition for directors and officers .
Governance Assessment
- Independence and oversight: The Board identifies seven independent directors; Weichselbaum is not listed among them. He holds no standing committee assignments (Audit, Compensation, Nominating & Corporate Governance), limiting direct involvement in key oversight channels .
- Attendance and engagement: Board held 17 meetings in 2024; each incumbent director met the ≥75% attendance threshold, and all directors attended the 2024 annual meeting—baseline engagement is acceptable .
- Ownership alignment: Beneficial ownership of 53,342 shares (<1%). Alignment exists but is modest relative to total shares outstanding; no pledging disclosed, though company policy does not prohibit director hedging, which is a governance risk factor .
- Compensation structure: 2024 director compensation comprised $67,650 cash and $40,005 in stock awards (total $107,655); program is retainer-based with ~35% equity, and no performance conditions are disclosed for director equity—neutral alignment signal versus performance-tied structures .
- Related-party/conflicts: Proxy outlines robust related-party review via Audit Committee and notes ordinary banking relationships with no director/officer indebtedness as of year-end 2024; no related-party transactions disclosed involving Weichselbaum (e.g., The Wexus Group) .
RED FLAGS
- Not designated independent and no committee roles—reduced direct oversight exposure on core governance committees .
- Hedging/derivatives not prohibited for directors/officers—potential misalignment risk under adverse scenarios .
Potential Positives
- CPA and capital markets background could support board financial literacy and strategic finance discussions .
- Baseline attendance compliance and annual meeting participation support engagement standards .