SENIOR EXECUTIVE - FINANCIAL SERVICES
Wealth Management - Insurance - Benefits - Private Banking - Private Equity - M&A - Commercial Banking
Visionary leader with a record of success in building profitable and scalable institutions through organic and acquisition-led growth, process improvement, and/or organizational turnaround. Proven ability to formulate and articulate an organization's mission, vision, and values - creating a unified purpose and culture that delivers consistent profitability.
FIRST NIAGARA FINANCIAL GROUP - Buffalo, NY Mar 2010 - Jul 2014
First Niagara Financial Group (NASDAQ:FNFG), through its wholly owned subsidiary, First Niagara Bank, N.A., is a regional commercial bank with 430 branches, $35 billion in assets, $28 billion in deposits, and 6,000+ employees providing financial services across New York, Pennsylvania, Connecticut and Massachusetts.
Group Manager - Financial Services Group (Wealth Management & Insurance)
Managed the bank's primary non-credit fee businesses including Insurance Brokerage and Benefits Consulting (First Niagara Risk Management), Wealth Management (First Niagara Private Client Services), with responsibility for 435 employees in New York, Pennsylvania, Connecticut and Massachusetts and served on the bank's Operating Committee.
Functional Areas of Responsibility:
* First Niagara Operating Committee - Elected Member of the bank's 12-person Operating Committee responsible for establishing the long term strategy and setting the tactical direction for the institution.
* First Niagara Risk Management - Property & Casualty, Health & Welfare, Worker's Compensation, Surety Products, Personal Lines, Captive Insurance Programs, Self Insurance Programs, International Risk Management, Claims Management, and Loss Control. The group produces over $70 million of recurring fee revenues, employs 375 associates, and is one of the nation's 30 largest insurance brokerages.
* First Niagara Benefits Consulting - Defined Benefit and Defined Contribution Services, Actuarial Services, Executive Compensation, Executive and Voluntary Benefits, Health & Wellness, and Group Life & Disability. The group was successfully spun off to its (then) current management in 2013.
* First Niagara Private Client Services - Wealth Planning Services, Investment Management, Trust & Estates, Private Banking and Credit services, and Personal Insurance Services. The group produces $15 million of recurring fee revenues, employs 60 associates and maintains approximately $2 billion of AUM.
* Set strategies as part of 12-person Operating Committee, enabling growth of First Niagara to a $35 billion full-service regional commercial bank, from a $10 billion community bank / thrift.
* Turned around a loss-producing wealth management group, inherited as part of FNFG's acquisition of Harleysville National Bank. The group was operating under a Consent Decree issued by the OCC. Within 3 months, sufficiently improved operations to earn a satisfactory rating from the OCC, with the execution of a 2-year plan of action. Built a profitable, scalable organization; increased NIBT five-fold to $5 million.
* Successfully acquired and integrated 4 regional insurance agencies and 1 trust department, complementing the bank's regional expansion strategy.
* Transformed 19 independently managed insurance agencies into a single agency with a unified operating structure and culture. Identified root-cause inefficiencies brought about by rapid expansion and lack of integration. Designed solution and led implementation of automated production workflows which increased consistency, reduced complexity, raised productivity, and reduced headcount by 20%. In 4 years, increased NIBT 151% and increased NIBT margin from 15% to 26%.
* Designed and implemented the bank's Cross-Solve Program to address clients' needs by creating individualized financial solutions derived from the bank's entire product and service array. This rapidly growing program, established in 2012, encompassed all client-facing representatives' education, sales training, incentive compensation, and management of the sales process, particularly activity management using CRM. Cross-Solve generates 500+ internal referrals and an additional $5 million of recurring income per quarter.
BNY MELLON WEALTH MANAGEMENT - Philadelphia, PA Jul 2009 - Mar 2010
Developed client base of high net worth individuals for the bank's proprietary investment management (wealth management) program. In Q1 2010, new business production included 4 individuals and 2 companies with $170 million of assets under management, an additional $250 million of assets in custody and $60 million of credit facilities.
* Ranked nationally as the No. 1 producer for Bank of New York Mellon Wealth Management in Q1 2010.
WILLOW FINANCIAL BANK - King of Prussia, PA Jun 2007 - Dec 2008
Executive Vice President, Commercial Banking Manager
Hired to motivate and profitably grow a banking group that had contracted during the 2005-2007 period. Oversaw and developed the bank's Commercial Banking, Commercial Real Estate, Private Banking, Wealth Management, Trust & Estate and Cash Management Divisions. Through 5 direct reports, managed 80 employees.
* Earned, for each division, an Office of Thrift Supervision rating of 1 or 2 by systematically implementing organizational workflows and individual accountability protocols.
* Reduced headcount by 14 individuals, and expenses by more than $1 million while achieving strong growth rates in loans and deposits.
* Instrumental in successfully positioning the bank for its sale to Harleysville National Corporation at a 33% premium to its market price.
BROWN BROTHERS HARRIMAN & CO. - Philadelphia, PA Nov 1996 - Jun 2007
Senior Vice President and Manager - Business Development and Marketing (2001 - 2007)
Developed new business for the firm by offering financial solutions customized to clients' requirements. Coordinated and implemented solutions to complex requests for senior, mezzanine or equity capital; derivative hedging strategies; mergers and acquisitions advisory services; traditional investment advisory services; alternative investment solutions; or trust & estate strategies. Developed an integrated, lifecycle approach to deliver combinations of these services to the firm's target market, the high net worth owner-managers of privately held corporations.
* One of a small group of officers in the firm who had the experience, licenses and the approval of the partners to provide customer solutions across all product platforms.
* While in this position, generated at least $2.4 million in annual net income and fees. In last year of tenure, generated $3.51 million in net income and fees. Each year, $1 million of this income was reoccurring.
Senior Vice President and Manager - Corporate Finance Group (1998 - 2001)
Co-Head of the Firm's Philadelphia corporate finance practice. The practice provided mergers & acquisitions advisory services, capital structuring and capital sourcing services to clients and prospects. Responsible for developing transactions within the existing client base and originating transactions with prospects.
Senior Vice President and Manager - Banking Group (1996 - 1998)
Individual contributor, responsible for originating, structuring and maintaining commercial banking, and investment advisory, with owner-managers of substantial, privately held companies
FIRST FIDELITY BANK - FIRST UNION BANK (WELLS FARGO BANK) - Philadelphia, PA Sep 1993 - Nov 1996
Commercial Market Manager
Managed the bank's suburban Philadelphia Commercial Banking Group. The group was responsible for credit origination, relationship management and the cross-selling of the bank's nascent capital markets products (primarily derivatives, private placements and subordinated debt).
CHEMICAL BANK (JP MORGAN, CHASE & CO.) - New York, NY Jul 1986 -Aug 1993
Senior Vice President - Manager, Loan Production Office (1990 - 1993)
Managed the bank's Hartford Connecticut Loan Production Office. The office was responsible for developing credit, foreign exchange, interest rate hedging, investment banking (principally M&A advisory and valuation services) and investment advisory relationships with Fortune 1000 and upper middle market corporations located in northern Connecticut, Massachusetts and southern New Hampshire.
* Led a group of 6 professionals through a tumultuous period in the bank's operations and through a significant regional economic collapse without sustaining any credit losses.
Senior Vice President - National Expansion Group (1988 - 1989)
Participated in the bank's national expansion group focused on expanding the bank's highly successful middle market banking services to New England.
Credit Trainee, Analyst, Junior Account Officer (1986 - 1988)
Participated in Chemical bank's 18 month credit training program and worked as a credit analyst in the bank's middle market leveraged buyout group. Became a junior account officer responsible for a small portfolio of existing credit relationships.
STRAWBRIDGE & CLOTHIER - Philadelphia, PA Jul 1983 - Jul 1986
Trainee and Manager
Quickly promoted from Management Trainee to Manager of key men's and women's clothing departments in flagship store of Philadelphia-based department store chain.
EDUCATION AND LICENSES
AB, Economics and Public Policy, The University of Chicago, Chicago, IL, 1983
Diploma, The Brooks School, North Andover, MA, 1979
FINRA Series 7 and Series 63
Member, University of Chicago Alumni Schools Committee
Co-Founder, Afinitas, a local philanthropic and community building organization.
Member of the Board of Directors of the Association for Corporate Growth.
Former Board Member and Officer, The Bucks County Historical Society, the Mercer Museum, the Fonthill Museum and the Spruance Library (archeological and cultural museums), the Ann Silverman Community Health Clinic, and the Bucks County Audubon Society.