Cascadia Capital, an independent investment bank serving middle-market companies, announced the appointment of Rhett Thurman as Chief Financial Officer. A highly accomplished financial services executive with more than four decades of experience, Thurman brings a proven track record of helping investment banking and financial services businesses scale, expand their capabilities, and execute long-term strategic initiatives. In the middle market — a segment where independent advisory firms compete with the largest global banks on sector specialization and senior-level attention — an operational hire of this kind underscores how boutiques are building internal infrastructure to support expanding platforms.

In his new role, Thurman will oversee finance, strategic planning, human resources, technology, and operations, working closely with Cascadia's senior leadership to advance the firm's priorities and strengthen its organizational infrastructure. The breadth of the mandate consolidates the firm's administrative backbone under a single senior executive as headcount, service lines, and office footprint grow. The appointment adds a senior finance and operations executive to the firm's leadership bench as it continues to build out the platform supporting its long-term ambitions.

"Rhett is a growth-oriented leader who has spent his career helping businesses scale and evolve, and his appointment reflects our commitment to building the leadership and infrastructure to support our long-term ambitions," said Michael Butler, Chairman and CEO of Cascadia Capital. "We've been deliberate about the firm we're building, investing in experienced bankers, expanding our expertise, and strengthening our position in the middle market."

Expansion Since the 2022 Atlas Investment

Since receiving a significant investment in 2022 from Atlas Merchant Capital, a private investment firm focused on the financial services sector, Cascadia has pursued an ambitious growth strategy centered on attracting experienced senior bankers, deepening its industry expertise, and broadening its advisory platform across the middle market.

Over the past 18 months, the firm has added 16 senior-level professionals, including 13 Managing Directors, strengthening its coverage across Technology, Healthcare, Industrials, and Consumer. Cascadia has also established a Silicon Valley office and launched new offerings in Equity Capital Solutions and Restructuring & Special Situations. The Thurman appointment extends that build-out beyond revenue-generating roles into the internal functions — finance, human resources, technology, and operations — that sit underneath them.

"When Atlas invested in Cascadia in 2022, we recognized the opportunity to build on an already strong foundation," said Bob Diamond, Founding Partner and CEO of Atlas Merchant Capital and a former chief executive of Barclays. "The firm has made tremendous progress since then, attracting exceptional talent, extending its reach, and creating new opportunities for its clients. Rhett's appointment reinforces our confidence in Cascadia's future and the team leading it forward."

Sixteen Years at Cain Brothers

Thurman's background spans senior finance and administrative leadership across investment banking and healthcare. He spent 16 years at Cain Brothers, a healthcare-focused investment banking firm, where he served as Managing Director, Chief Financial Officer, Chief Administrative Officer, and a member of the Board of Directors.

During his tenure, Cain Brothers evolved from its legacy hospital municipal finance roots into one of Wall Street's largest middle-market healthcare boutique M&A advisory firms. In addition to his operational responsibilities, Thurman helped lead the firm's strategic planning, corporate development initiatives, and financing and treasury activities, culminating in Cain Brothers' 2017 acquisition by KeyBanc Capital Markets. That arc — from niche roots to acquisition by a major bank — amounts to a full corporate growth cycle Thurman helped manage from inside the finance function. Healthcare, notably, is one of the four sectors — alongside Technology, Industrials, and Consumer — where Cascadia has strengthened its coverage over the past 18 months.

Roles at Angle Health and Prager & Co.

Before joining Cascadia, Thurman served as Chief Financial Officer of Angle Health, an AI-native health insurance company offering highly customized level-funded plans to the US SMB market. At Angle Health, he was responsible for strategic finance, capital formation, and the company's financial operations.

Previously, Thurman held the roles of Managing Director and Chief Financial Officer/Chief Administrative Officer at Prager & Co., where he led recapitalization and restructuring efforts and helped guide the firm's combination with Hilltop Securities.

"I've known Cascadia and its leadership for many years and have watched the firm's progress firsthand," said Thurman, Chief Financial Officer of Cascadia Capital. "What attracted me to this opportunity is the strength of the team, what they've accomplished already, and the vision for what comes next. I'm excited to bring my experience to a firm with a solid foundation, committed financing partners, and clarity of purpose, to help build on that momentum."