Veteran banking executive brings decades of financial leadership, risk management and institutional governance experience as Cylerity expands nationally.

MADISON, WI — November 3, 2026 — Cylerity, a healthcare financial technology company transforming how providers access working capital, today announced the appointment of David Stein to its Board of Directors. Stein, a former executive vice president at Associated Bank and former chairman of the State of Wisconsin Investment Board (SWIB), brings more than three decades of banking leadership, financial oversight and institutional governance experience.
The appointment comes as Cylerity expands its healthcare financing platform nationwide, deepening relationships with healthcare providers, health systems and financial institutions. Stein will provide strategic guidance on strengthening the company’s internal controls, enterprise risk management, regulatory compliance and governance infrastructure as it scales.

“Building a national healthcare finance platform requires more than innovative technology. It requires the discipline, controls and institutional trust that underpin the financial system,” said Ryan Wheeler, co-founder and CEO of Cylerity. “David has spent his career leading complex banking organizations and overseeing significant financial assets. His experience will be invaluable as we strengthen our governance and build a platform that healthcare providers and financial institutions can rely on.”

Stein spent more than 20 years at Associated Bank, where he served as executive vice president and head of Consumer and Business Banking, overseeing a broad portfolio of banking operations, products and services. Earlier in his career, he spent 16 years at JPMorgan Chase and its predecessor, Bank One.
In 2014, Wisconsin Governor Scott Walker appointed Stein to the State of Wisconsin Investment Board, which manages investments supporting Wisconsin’s public retirement system and other state trust funds. Stein was subsequently appointed chairman in 2016, serving in that capacity until 2023. His tenure included board-level oversight of investment policy, institutional risk management and fiduciary governance for one of the nation’s largest public pension investment organizations.

“Cylerity is addressing a fundamental inefficiency in healthcare: the time between delivering care and receiving payment,” said Stein. “The opportunity to apply advanced technology and financial intelligence to that challenge is compelling. Equally important is building the governance, controls and risk management capabilities necessary to support responsible growth. I’m excited to help Cylerity advance both.”

Cylerity uses machine learning and healthcare reimbursement data to predict the value and timing of insurance payments, enabling healthcare organizations to access working capital against submitted medical claims. As the company expands its financing capabilities and banking partnerships, institutional-grade governance and risk management will remain central to its long-term strategy.