Profit Producing Planning and Development
Needs Driven and Researched Based Solutions for Risk
Financial Services Projects & Risk Manager
Twenty Years: Risk Assessment, Mitigation and Process Designs. Tenacious and Thorough.
Develops New Product. Manages Underwriting, Servicing, and RAROC Enhancement Teams.
Highly Praised by Money Center Blue Chips for Analytics, Due Diligence and Staff Development.
Allocate Credits / Risk to BIS II Capital Limits Lead Workout & Repackage: Syndicates / ABS
Develop Risk and Management Scoring Matrices Series 3: Control Traded Risk / Counterparts
Set Best Practice Systems for Marketing and Risk Audit Operational Risk & Process Review Teams
Experience
SQUIRE-ROBERTSON GROUP Ltd., 1995-2004
Engagement Manager-Private Equity
Analyze and Execute Capital Facilities: Boutique advisor to principals and sponsors to finance troubled situations or research promoted investments. Source transactions domestically and internationally building network of private clients and brokers. Identify constraints and opportunities through research, benchmarks and stress testing. Direct due diligence and close by coordinating resources, creating solutions.
Advised principals on $30 MM Chapter 11 buyout bid for environmental firm. Plan confirmed 3/03.
Sold "first loss" position by swap of contingent note for GIC, on highly discounted mortgages to a servicer with $110 MM new equity and capacity. Also, preserved $55 MM impaired value for originating bank.
Negotiated 35 percent premium on sale of superconductivity company for German chemical group. Assessed R &D, operational plan and time to profit markets. Valued patents. Retained for other sales.
Pre-tested underwriting and servicing by NYSE lessor before Agency Rated securitization effort.
Saved cost of carry and loss by working out non-performing portfolio of commercial mortgages.
Enabled almost nine percent excess income growth for financial firm by increasing regulatory capital through OTC credit derivative as Contingent Equity.
CITIGROUP, 1989-1995
Vice President, North American Global Investment Bank - AAA Sureties / Securitization, 1993-1995
Group Risk Management: Maintained a Zero Loss Standard with $ 2 MM budget and seven headcount. Underwrote first loss insurance on rated prime and sub-prime portfolios, on organized exchanges and on other obligations.. Coordinated financing through CP conduits or term markets. Responsible for documentation, servicing, monitoring and reporting.
Approved real time counterparty risk for 25+ trading clients. Reviewed risks and insured nearly 100 debt, lease and mortgage originators, of registered broker/dealers and of funds. Won Board approval for “scored” risk control process, reducing headcount and expense. BIS Tier 1/ 2 Economic Capital issues.
Developed first guaranteed futures contract and equity insurance. Modeled and monitored various risks, applying VAR, historical data, and Monte Carlo. Considered cash flow and liquidity at risk measures for stand alone entities, consortia and other concentrations of corporate or market risks.
Found systemic lapses at various corporations and asset originators, often in management process and collateral control. Efforts led to new line of consulting assignments in risk management, as well as incremental income of $500 M on first contract. Follow-on contracts resulted.
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CITIGROUP, 1989-1995
Vice President, North American Global Investment Bank - HLT/ABL Industrial Credits, 1989-1993
Team Leader to Manage Portfolio, Underwrite, Originate:
Broad relationship and credit responsibility for regional, national and international credits in North East: some classified others AAA. Established new financing, syndicated, recapitalized, cross-sold treasury services. Negotiated distressed exchanges, supported M & A and off balance sheet solutions. Bankruptcy knowledge. Worked directly with companies or sponsors. Developed Department’s marketing system.
Coordinated underwriting of $B’s of structured credits based on borrowing base, cash flow, or third party support. Direct exposures $5 MM to $750 MM / revolvers to equity linked mezzanine tranches.
Identified and led recovery of most valuable collateral in $200 MM syndicate, obviating equity call. Increased loss recovery 20% during distressed exchange with unique covenant, exposing fraud.
Represented syndicates in defunct manufacturer, telecommunications firm, and retail chain in Spain. Verified claims. Hired counsel. Negotiated standstill and plans of reorganization.
Directed merger of three under performing telecom prospects, to create fourth largest long line carrier. Received written commendation from client for mediating and resolving conflicts.
Devised computer model for “Optimizing Equity Returns” based on market, credit and operations risk.
GRUNTAL & CO., INC., 1986-1988
Business Development Associate, Corporate Finance Department
Originated, then Distributed Mezzanine Funding: Focused on technology, healthcare, IT and manufacturers. Tripled deal flow through internal broker network. Formulated restructuring plans for four firms in Chapter 11 and equity committee of an international steel producer. Concluded IPO's.
BOOZ • ALLEN & HAMILTON, INC., 1985
Consultant (MBA Associate)
Strategies for two Fortune 50: a consumer media product company and captive finance company.
BANKERS TRUST COMPANY, 1977-1984
Vice President, International Corporate Finance Department
Global Relationship Manager: Asia (BT Futures Corp: Series 3.)
Group's Specialist to sell futures and first asset participations. Offered cash mgt. services, FX loans, and more to banks corps. and gov’ts. from Asia. Allocated credit/market risks: advances, various LOCs and other exposures. Used export programs (EXIM, COFACE,) for projects, durables and commodities. Credit training. Exceeded sales plan yearly. Youngest field-rep. Postings in Jakarta, Manila, Seoul, Hong Kong.
Initiatives and Achievements
Manhattanville College, 2003 Professional Development P.M.C. - G.P.A. 4.0 (39 credits)
University of Pennsylvania, 1986 The Wharton School M.B.A. - Finance/Strategy
Brown University, 1977 Honors Program B.A. - Economics/Technology
Published: "Probabilities & Risks of Political Regime Change" Carthage Foundation, Pittsburgh, Pa. (CIA)
Licenses: Professional Educator: Business & Computers, Calculus, Statistics, Social Science
Certificates: Letter of Credit, ICC, Broker/Dealer Analysis, NYIF, Series 3 NASD / CFTC (expired)
Also: “Ranked #1” for Relationship Management and sales skills by Bankers Trust Company.
“Special Mention” by internal audit for skilled diligence and early problem spotting: Citigroup
Awarded Harvard Book Prize for outstanding academics and athletics. Lacrosse All-American.
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Verifiable Personal Reference Excerpts
"The purpose of (the) unsolicited call was to express his appreciation regarding Dave's negotiating sensitivities and ability to head off diverging communication ...had it not been for Dave's actions, it would have been very unlikely that the discussions during the course of three days would have concluded successfully."-DCO, Regional Executive Citibank. (Call from the Director of a $3 billion NYSE firm.)
"Dave made this the most creative and productive meeting I've had in a long time." -C.O.O. & GP, Trian Group, L.P. (Company completed major LBO/Equity transactions with Uniroyal, National Can, MountLeigh and Pechiney among others.)
"You are at the forefront of a whole new approach that could easily be adopted bank wide."
-DCO, Sr. Banker, Executive Region Head, Citibank. (In response to an analysis of strategies for a $1 billion, international, NYSE company)
"Your greatest strength is your thoughtfulness which you apply by coming up with different ideas so you've received a 4 rating (the highest and equivalent to "Walks On Water") for creativity."
-DCO, Sr. Banker, Executive Region Head
"Your particularly strong work across-the-board was noted in the new (XYZ) transaction. The analysis was exceptionally well done. Due diligence was very thorough. The effort showed good coordination with several areas of the bank, as well as careful and thoughtful use of two outside consultants."-Internal Audit Report by Risk Management
"He has strong corporate finance skills which he uses well to identify and evaluate opportunities.... Excellent understanding of corporate valuation and the motivations of equity investors."-Sr. Banker, Area Head
“You're very quick to conceptualize a situation and come up with a different approach."- SCO, Sr. Banker
"In closing (ABC Corp) he was responsible for the development of a very complex credit package and syndication with a high degree of completeness and accuracy. His persistence helped bring the company and the bank together on this highly profitable deal."- Sr. Banker, Area Head, Citibank, Bonus Recommendation
". . . detail oriented and precise. I've been able to rely on you for these discussions." SCO, Sr. Banker
"Excellent organization against targeted prospects. (PQR) transaction has overshadowed needed personal priorities. Good attention to internal commitments and requirements."- Sr. Banker, Area Head
"Good client rapport which facilitates good option development and negotiations. Proven ability to land transaction."- Sr. Banker, Area Head
"Exceptional commitment to use of resources and getting the job done personally and as a team member."- Sr. Banker, Area Head
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-Landscape Table Headings-
Situation
Self- Initiated Project
Results and Continuing Business Impact
Skills
Interim-Corporate Representative in Jakarta, Indonesia.
Conceived , researched and wrote "Guide to Secured Lending in Indonesia"
Opened foreign market for lending to local corporations on a secured basis against real estate and collateralized guarantees. First transaction was an office building in Jakarta. Ongoing business segment established.
Product Devel.
Research
Risk Mgt.
Best Practices
Interim-Bank Branch Manager, South Korea.
Re-stated Korean based financial statements of "General Trading Companies" (e.g. Hyundai, Daewoo) so they more closely reflected U.S. GAAP and customary U.S. credits risks.
Doubled average credit limits approved under guiding constraints. Thereafter increased transaction service business (operational risk) and funded outstandings (credit risk) accordingly, to raise Group profits. Hyundai credit lines rose from $30 MM to $60 MM.
Research/GAAP
Risk Mgt.
Relationship Mgt.
Sales
Profits
Country Desk Officer, NY, NY.
Instituted short-term trading strategy at the Group level for portfolio of Banker's Acceptances: market risk, based on maturity mis-match. (In terms of risk management this should not have been permitted.)
Gained credit spreads over funding rates as short-term yield curve dropped. Group profits increased as interim funding commitments were rolled-over to match final maturity on actual BA's.
Trading
Best Practices
Sales
Risk Mgt.
Profits
Corporate Finance Department transaction analyst.
Internal marketing campaign using print and on-site presentations to promote restructured Corporate Finance Department capabilities: a.) full line of advisory and transactional services for brokerage clients; b.) referral fees for brokers
Tripled the number of deals presented on a year over year basis thereby filling pipeline for business reviews and approvals. In addition, up-tiered corporate image internally and presumably externally from "wire house" to small-cap investment bank. Action led to increases in advisory fees, engagement proposals, Reg. D private placements and an IPO in first year.
Marketing
Communications
Roll-out
Relationship Mgt.
Business Devel.
Profits
After a "notional" and a bit vague "Senior Officer"
Seminar titled "Optimal Debt for Maximum Shareholder Value."
Developed diagnostic computer model: "Capital Utilization and Efficiency" linking yield curves across the ratings spectrum to dynamically calculate optimal debt structure for changing credit market and "distress cost" conditions.
Created standardized pitch book for prospective restructuring clients. Marketing campaign kicked off by Division. Format used extensively adding some measure of incremental business, which we might not have executed otherwise.
Design Analysis
Data Integration
Product Devel.
Communication
Roll-Out
Relationship Mgt.
Sales/Syndication.
Credit Analyst
Sub-Investment Grade banker promoting LBO, ABL and bank services
Expanded customary section on Management to incorporate a management "scoring" system correlating management performance against stated goals, as well as financial aggregates and ratios.
Further supported my reputation for creativity and thorough analysis. Cemented my image as Analyst Mentor. Methodology was a proxy for what we call operational risk today. Adding concepts of financial risk and business risk, one could make judgements about an overall risk profile and flexibility. As well as Risk Capital Allocation.
Design Analysis
Data Mining
Risk Mgt.
Ratings
Relationship Mgt.
Best Practices
RORAC
Credit Area Manager
Team Management
Collected and analyzed historical data to determine employee turn-turnover patterns within the firm in an effort to develop employee retention
policies.
Assigned employee turn-over probabilities by Area Manager. Collected "Best Practice" information and directed brainstorming session to formulate a set of suggestions.
Design Analysis
HR Planning
Staff Devel.
Supervision
Cost Reduction
Credit Area Manager
Structured Finance
Response to Client Request.
Designed analytical approach to measure historical market volatility over various time horizons of equity and bond markets.
Developed in house databases and policies for VAR and zero-loss level of confidence. Sold insurance on the future price of a set of mutual funds, i.e. a Guaranteed Futures Contract
Relationship Mgt.
Customer Service
Product Design.
Data Mining
Design Analysis
Profits
Credit Area Manager
Pro-Active Business Management.
Re-designed credit review and approval paradigm for mortgage originators needing warehouse lines of credit, liquidity and securitization services.
Won approval by the Board. New "scoring" system was based on discernable patterns in size and in performance. Reduced Area head count and related expenses .
Risk Mgt.
Best Practices.
Cost Savings
Sub-Investment Grade banker promoting LBO, ABL and bank services.
Designed and produced target market study and marketing plan. Linked various data sources to sort based on pre-defined criteria likely to identify needs based companies in local areas.
Identified high potential needs based prospects with "inter-linking" board level contacts. Networking webs were defined and assigned within Division territory. System adopted by Divisions throughout Eastern Region.
Marketing
Data Mining
Research
Design Analysis
Roll-out
Sub-Investment Grade banker promoting LBO, ABL and bank services.
Conceived and developed marketing tools: "Client Management Process and Incentive Grid"
Stimulated new marketing initiatives against pre-qualified prospects. Measured progress by measuring efforts and results against stated goals.
Marketing
Supervision
Cross-Selling
Training
Profits
Sub-Investment Grade banker promoting LBO, ABL and bank services.
Developed new product guides for Private Bank clients in conjunction with estate and tax law firm. Produced desk guide for "Strategies for Ownership Transfer."
Distributed desk guide to bankers for providing strategies for corporate succession under various customary and specialized circumstances. Unmeasurable Incremental business.
Cross-Selling
Product Devel
Project Mgt.
Training
Profits
Credit Area Manager
Financial Institutions Group Competitor and Market Analyst.
Extensively researched the "new emerging markets" for: a.) "high yield investment trading protocols" using MTN's and other obligations; and b.) leasing of U.S. Treasuries or buying them at discounts to widely quoted markets.
Despite high volume of bids and offers, there is little basis for these markets, to be sustainable. Moreover, many quotes are eventually linked to allegations and court proceedings of laundering and racketeering.
Risk Mgt.
Market Aware
Research
Analysis
Project Mgt.
Product Devel.
Best Practices |
