• Assistant Vice President, Banking
  • kenneth.kuveke@gardencitygroup.com
  • 631-470-5183
  • Banking
    Distribution

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Kenneth Kuveke

Kenneth Kuveke, who has worked for GCG for 10 years and has an additional 25 years of additional retail banking experience, leads GCG’s Banking & Distribution Team which is responsible for the management and distribution of funds in all GCG matters, including hundreds of active accounts. This includes class action settlement administrations, bankruptcy administrations, and mass tort programs. GCG’s clients have entrusted Mr. Kuveke’s team to distribute $55 billion in recoveries in over 50 currencies.  He has managed distributions  by check, wire, automated clearing house transactions (ACH), electronic fund transfers (EFTs), and various local distribution options – ranging from less than 100 to nearly 4 million – all timed to disburse to recipients the same day. In just the past three years, Mr. Kuveke’s team has made 8 million payments totaling $17.7 billion in distributions, including $6 billion in payments while handling every aspect of distribution in connection with the Gulf Coast Claims Facility. Other large and complicated distribution programs he has handled in recent years include the landmark $3.4 billion Indian Trust Settlement Program, the $3.2 billion Tyco Securities Litigation Settlement, and the $2.4 billion Bank of America Securities Litigation.

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Kenneth Kuveke, who has worked for GCG for 10 years and has an additional 25 years of additional retail banking experience, leads GCG’s Banking & Distribution Team which is responsible for the management and distribution of funds in all GCG matters, including hundreds of active accounts. This includes class action settlement administrations, bankruptcy administrations, and mass tort programs. GCG’s clients have entrusted Mr. Kuveke’s team to distribute $55 billion in recoveries in over 50 currencies.  He has managed distributions  by check, wire, automated clearing house transactions (ACH), electronic fund transfers (EFTS), and various local distribution options – ranging from less than 100 to nearly 4 million – all timed to disburse to recipients the same day. In just the past three years, Mr. Kuveke’s team has made 8 million payments totaling $17.7 billion in distributions, including $6 billion in payments while handling every aspect of distribution in connection with the Gulf Coast Claims Facility. Other large and complicated distribution programs he has handled in recent years include the landmark $3.4 billion Indian Trust Settlement Program, the $3.2 billion Tyco Securities Litigation Settlement, and the $2.4 billion Bank of America Securities Litigation.

When tasked with a global distribution, Mr. Kuveke employs GCG’s international banking experience and relationships to effectively connect class members with class settlement funds. For example, in the multinational, $1.1 billion Royal Ahold Securities and ERISA Litigation, Mr. Kuveke’s team caused hundreds of thousands of EFTS payments in Euros through the Dutch Equens system to claimants in the Netherlands. His team also works with international bankers and escrow agents to create any documents required for an intercontinental settlement.

Mr. Kuveke’s background of more than 25 years of financial services experience at major banks including The Bank of New York and Capital One has prepared him to anticipate and navigate unique banking challenges.  He regularly consults will clients in establishing savings and distribution and escrow accounts to maximize returns while minimizing or eliminating risk.  His expertise was critical to ensuring the protection and safe investment of settlement fund dollars during the market turmoil and economic downturn from 2008-2010.

In recognition of their wide range of experience with products and service across multiple banks, Mr. Kuveke and his team are consulted for suggestions and recommendations to improve operational functions, such as fraud prevention, on-line banking, and funds transfer origination at the various banks GCG partners with during an administration in order to meet or exceed industry standards.

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