SUMMARY
Over 16 years of financial services experience. Executed broad array of corporate and M&A financings for investment banks, large corporations, and private equity portfolio companies. Product experience includes mortgage and asset-backed securities, broadly-syndicated and middle-market CLOs, structured corporate credit facilities, high-yield bonds, and equity issuance.
PROFESSIONAL EXPERIENCE
PRIVATE EQUITY FIRM, Arlington, VA, 1/08 - Current
Senior Vice President, Corporate Finance
Report to the CFO. Lead corporate finance / treasury, investor relations, and financial planning for a $1 billion middle-market private equity firm and business development company.
Corporate Finance:
- Lead all capital-raising activities to support corporate growth, liquidity, and continued access to low-cost funding.
- Build relationships with banks, insurance companies, and investment funds to build a network of capital sources.
- Manage $768 million in credit facilities, including a $393 million middle market CLO securitization, $150 million SunTrust warehouse credit line, $75 million debt private placement, and $150 million SBIC facility.
- Optimize collateral in structured debt facilities to maximize net interest spread while ensuring compliance with pool criteria (overcollateralization, interest coverage, concentration limits, ratings, liquidity, average life, etc.)
- Create deal structures to support the sale of portfolio investments. Sold $423 million in debt and equity investments in 29 transactions.
- Raised $58 million in a secondary equity offering with lead investment banks J.P. Morgan, SunTrust, and RBC.
- Restructured $395 million in corporate debt with seven lender institutions. Negotiated covenant relief and improved term flexibility.
- Raised a $70 million revolving credit facility with SunTrust, Bank of Montreal, Sovereign, and Chevy Chase.
- Obtained multi-year renewals of SunTrust warehouse credit line at below-market rates.
- Sourced a $100 million asset management vehicle with Barclays that provided recurring fee income, significant performance fee incentives, and revenue diversification.
- Structured a $75 million credit facility with AXA that enabled the firm to borrow against equity investments.
- Sourced and repurchased $23 million in CLO debt at discounted prices, resulting in significant EPS accretion.
Investor Relations:
- Serve as key point of contact to retail and institutional investors, equity research analysts, lenders, rating agencies, and the media.
- Analyst coverage includes BB&T, BMO, CompassPoint, FBR, Jefferies, KBW, and Stifel Nicolaus.
- Institutional investor coverage includes American Century, Blackrock, Fidelity, Putnam, Wellington, and Wells.
- Developed a new external strategy to better communicate the firms investment value proposition.
- Transformed the investor relations function from a reactive, passive approach to a proactive, targeted build-up of a long-only, fundamental investor base.
- Assess patterns in stock trading and ownership composition to better understand and manage the investor base.
- Built an extensive competitor comparables database to analyze and compare performance versus the peer group.
Financial Planning and Analysis:
- Meet weekly with the executive committee to review business performance and propose specific action items to drive portfolio and earnings growth.
- Implemented an asset-liability duration matching model to better manage risk and ensure continued liquidity.
- Designed and built a fully integrated portfolio and treasury funding model to strengthen visibility into key profitability drivers. Model delivers a bottoms-up asset forecast for 150 investments in 60 portfolio companies.
- Create executive committee and board packages that analyze key performance indicators, risks, and opportunities.
- Serve on Disclosure Committee; draft, review, and approve public financial filings within Reg FD guidelines.
E*TRADE FINANCIAL CORPORATION, Arlington, VA, 1/07 1/08
Senior Vice President, Finance
Reported to President, Capital Markets. Recruited in to build a new Finance Group for this $1 billion revenue segment.
Identified acquisition and divestiture opportunities to increase risk-adjusted profitability for a $60 billion asset portfolio that included Treasuries, mortgage whole loans, MBS, ABS, and municipal bonds.
Ran performance scenarios (loss severities, foreclosure frequencies, prepay speeds, yield curve shifts) across the loan portfolio to identify opportunities to strengthen the balance sheet and increase earnings.
Developed balance sheet optimization models to maximize portfolio income within target risk parameters (capital ratios, duration targets, leverage, asset diversification, risk-weighted return hurdles, etc.).
Created strategies to lower interest costs and optimize funding sources that included retail deposits and wholesale borrowings.
Designed a new, comprehensive Asset-Liability Committee (ALCO) analytical package that delivered critical insights for the firms risk management and portfolio strategy.
COUNTRYWIDE FINANCIAL CORPORATION, Los Angeles, CA, 2/03 1/07
First Vice President, Finance
Organization Profitability Group:
- Reported to the Head of Corporate Finance Group.
- Led M&A modeling and due diligence on over $250 billion in loan acquisition and joint venture opportunities.
- Developed valuation models to recommend where to invest the firms capital at the business, product, channel, and customer level to maximize risk-adjusted returns.
- Coverage areas included mortgage origination, loan servicing, and capital markets ($460 billion annual loan volume with a $1.2 trillion loan servicing portfolio).
Full Spectrum Division:
- Reported to Divisional CFO. Led all financial planning and analysis for this retail home loan division ($26 billion annual volume on 165,000 loans, $1.2 billion revenue, and 270 branches).
- Structured deal economics and negotiated terms for over $20 billion in joint venture loan origination partnerships, including BankOne, Capital One, Fifth Third, KB Home, MBNA, NatCity, Ocwen, and Quicken.
- Developed and executed a plan for build-out of prime loan origination channel. Annual prime loan origination increased from $600 million to $12 billion and prime profit per loan increased 114%.
- Built loan origination models for new channels, including internet, realtor, and home builder channels. Created $8 billion in incremental new annual loan origination.
- Identified expense reduction opportunities for branch loan origination; dollar cost per loan reduced 34%.
- Created lead management model to optimize customer acquisition costs and improve channel profit margins; model analyzed over $144 million in annual marketing expenditures from over two million consumer leads.
EFINANCE CORPORATION (CREDIT SUISSE PORTFOLIO COMPANY), San Francisco, CA, 6/99 - 12/02
Vice President, Finance and Business Development
Asked to join eFinance, an equipment loan originator and provider of loan technology, to raise growth capital and build origination partnerships. Company acquired by IdenTrust in 2004.
Reported to CEO; raised and managed investment capital to finance the growth of the business:
- Sourced venture capital firms for equity investment; delivered investor presentations.
- Negotiated investor terms and agreements; managed all financial, operational, and legal due diligence.
- Raised $20 million in equity from Credit Suisse, Digital Ventures, Sanchez Capital, and NIF Capital.
- Secured $190 million in warehouse credit facilities from Credit Suisse and Deutsche Bank.
Led all corporate finance, investor relations, and financial planning and analysis functions:
- Built external relationships with investors, research analysts, and investment banks.
- Maximized cash flow generation and balance sheet liquidity through cash investment programs.
Structured business development partnerships with Fortune 500 firms, financial institutions, and start-ups:
- Prepared return-on-investment analysis; created deal pipeline of over 200 companies.
- Signed and deployed partnerships included ADP, Costco, Equifax, HP, NEC, Norwest, and TransUnion.
Developed business plans for new market entries, including asset securitization, trade credit, and commercial finance.
CREDIT SUISSE FIRST BOSTON, New York, NY, 6/98 5/99
NATIONSBANC MONTGOMERY SECURITIES, New York, NY, 6/97 - 6/98
Associate, Leveraged Finance Groups
Joined NationsBanc Montgomery out of business school (MBA). Joined Credit Suisse with lead members of the NationsBanc Montgomery leveraged finance team.
Developed financial structures for corporate acquisitions, leveraged buyouts (LBOs), and recapitalizations; originated and executed over $6 billion in transactions.
Product experience included revolving credit facilities, structured senior term debt, high-yield bonds, bridge debt, IPOs, and secondary equity offerings.
Prepared valuation models, including comparables analysis, discounted cashflow, and M&A premiums paid analysis.
Implemented financing strategies for portfolio companies within financial sponsor client base.
Managed the due diligence, underwriting, and roadshow marketing process for debt and equity issuance.
Prepared pitch books, investment memorandums, and prospectuses for acquisition-related financings.
KIDDER, PEABODY & CO., INC., New York, NY, 7/92 - 7/95
Associate and Financial Analyst, Mortgage-Backed Securities and Real Estate Group
Promoted to Associate from Financial Analyst after two years; left the firm to attend business school (MBA).
Structured and executed over $4 billion in transactions, including residential MBS (agency and private-label), mortgage whole loan acquisition, and credit card receivable securitization.
Conducted originator due diligence and loan-level analysis to prepare whole loan pool bids and MBS offerings.
Analyzed credit support alternatives for loan securitizations with rating agencies.
Structured warehouse credit facilities for residential mortgage and specialty finance companies.
Prepared bond return analysis for hedge fund clients based on yield curve forecasts and economic scenarios.
EDUCATION
THE UNIVERSITY OF TEXAS, Austin, TX, 9/95 - 5/97
Master of Business Administration (MBA) in Finance
Texas Investment Fund, LLC; Portfolio Manager
- Managed the equity research activities for a $15 million real-dollar private investment fund.
- Selected by Fund Board to join equity research team based on prior achievement.
- Fund outperformed S&P 500 benchmark over investment cycle tenure.
Amoco Corporation, Houston, TX (Summer Associate MBA Program), 5/96 - 8/96
- Developed option pricing models to value global energy development projects.
- Implemented real-options methodologies to measure, price, and hedge project risk.
WASHINGTON AND LEE UNIVERSITY, Lexington, VA, 9/88 - 6/92
Bachelor of Science with Special Attainments in Commerce, Cum Laude, Deans List.
Business Administration Major with academic scholarship awarded by faculty based on achievement. |
