International Financial Services Firm (66,000 people) (1999-Present)
Selected to start new strategic business (60+ people)
-- Established Joint Venture (JV). Developed overall structure including membership responsibilities, management control and capitalization. JV structure allowed us to quickly enter residential lending business with minimal capital, minimal loan loss risk and in compliance with all real estate laws.
-- Developed proforma P/L and balance sheet for JV incorporating start up costs, revenue and expense projections. JV was profitable in third month of operation. After 6 months, members broke even on investment exceeding initial projections.
-- Segmented client base and organized JV by region and product type to better serve clients. Current JV structure includes an Operating Committee, COO, Sales Management, Regional Supervisors, Sales, Processing, Underwriting, Closing and Post Closing Operations. Matrix support areas include Finance, Technology, Legal, Compliance and Capital Markets.
--Led product development effort of mortgage product based on 1-Month LIBOR and mortgage combined with a securities portfolio. Developing new wholesale investors for JV including ILC. Additional wholesale investors will increase volume and significantly improve overall firm profitability.
--Working with JV managers, developed process, procedures and metrics for each department to improve efficiency and the overall client experience. Significantly enhanced application, underwriting and processing process. Currently evaluating third party vendor for outsourcing of closing operations because of their expertise and efficiency.
--Led client satisfaction effort within JV. Established benchmarks for client satisfaction based on top 2 scores as well as use again statistics. Year to date JV use again score of 93% vs. industry average of approximately 85%. Significant increased from start of business in August 2002.
--Developed JV internet site which displays the JV’s products, pricing and programs. Currently working on JV internet site to allow clients to conduct home equity business online.
--Executed aggressive sales and marketing plan directed towards clients, financial advisors, regional managers and institutional accounts. Created initial positioning of JV.
--As JV operating committee member, responsible for developing yearly strategic plan as well as oversight and direction on staffing, sales, marketing, product development and service.
Managing Partner - New York City Office (1999-2001)
Recruited by CEO/CIO. Led team responsible for creating sales and prospecting tools for 1,000 Financial Advisors. (20 people)
--Developed web-based program for sales force allowing them to quickly profile prospects and provide them with a customized financial proposal.
--Created a wireless hand held solution for sales force allowing them to significantly increase their sales productivity. (Product was near Beta release when PaineWebber acquired J.C. Bradford.)
DB Alex. Brown - Baltimore, MD (1998-1999)
Vice President - Private Client Group (PCG)
Recruited by Managing Director of PCG. Responsible for implementing new web-based products for individual and institutional clients as well providing integrated web-based services for investment advisors to increase firm productivity.
--Responsible for PCG’s first Public Internet site and integrated advisor workstation. Overall advisor sales productivity increased 15+%. Responsible for the selection of market data services including Reuters, Bridge, Standard & Poor’s and the TheStreet.com. New integrated services significantly enhanced client’s perception of PCG’s products and capabilities.
--Worked with Investment Banking division to create web-based IPO service in order to attract additional underwriting business and enhance the overall efficiency of the process.
--Presidents Club member April 1999.
Automatic Data Processing, Inc. (Brokerage Division) - Jersey City, NJ (1992-1998)
Director of Account Management (1995-1998)
Responsible for incremental revenue generation and overall client relationship. Products included both front office and back office systems.
-- Front Office Market Data System: (FS Partner, Shark) Features include Real time market minder, snap quote, news, NASDAQ Level II, charts and technical analysis, option chain, third party data (Moodys, S+P, Zacks), research, alerts, link to excel, portfolio tracker, time and sales and back office access.
-- Back Office Trade Clearance/Processing (BPS - Equities, Options, Mutual Funds, Fixed Income) Features include: order management, bookkeeping, P+S, Cage, trade confirmation, margin, account management, corporate actions, compliance and statements.
-- Managed team of people responsible for $15M year in revenue. Team was consistently ranked first among ADP account management teams. Developed individual account plans to drive overall sales growth and product penetration for each account. Clients included Edward Jones, Raymond James Financial and Jack White & Company.
-- Responsible for one of the division’s largest contract extensions resulting in $50M in revenue over 5 years.
-- Selected as product manager for division’s data feed initiative. Conducted market research, developed product features list, pricing schedule, and launch plan.
-- Proposed several new business initiatives within ADP. Worked with Corporate Treasurer and Division General Manager on corporate card service. Proposed product positioning, product offering, and sales plan utilizing existing 22,000 payroll sales personnel. This business has been implemented at ADP.
Business Development (1993-1995)
Responsible for prospecting new business, products, pricing, and contracts. Target market was Correspondent Broker Dealers of Bear Stearns.
-- Closed $1M of new business within first 12 months.
Project Management (1992-1993)
Responsible for design, integration, procurement, implementation, training, budgeting, and contract implementation.
-- Successfully rolled out over 6,000 terminals. Clients included Goldman, Sachs & Co., Raymond James Financial, Inc., TD Waterhouse Group, Inc., and Tucker Anthony Sutro Corporation.
-- Achievers Club member October 1998.
Forest Datacom Services - New York, NY (1988-1990)
Sales / Engineering
Responsible for sales, analysis, design, vendor negotiation, pricing and legal contracts.
-- Salomon Brothers - 9 World Trade Center NY, NY ($20M) Voice and data infrastructure for 22-story building including research, banking, and 200 desk, multi-level trading floor.
--Canary Warf - UK ($15M) Five building complex including several large US financial firms.
--50+ midrange clients utilizing a variety of different services.
--Developed first standardized pricing practice within the firm. New methodology increased the accuracy of the proposals allowing the firm to bid more aggressively on new business.
Education
Rutgers University, Newark, NJ
MBA, (1991)
Lehigh University, Bethlehem, PA
B.S. Electrical Engineering, (1988)
Licenses |
