Expert Details
Restructuring, Repositioning, and Relaunching Organizations
ID: 737110
Connecticut, USA
He started his career in large organizations including UBS/Swiss Bank/O’Connor, Goldman Sachs, and Accenture with a significant portion of that time on the international side (working in Europe, Asia, and South America). In those organizations he concentrated on merger integration, re-engineering, technology and strategy.
Over the last 15+ years he has focused on restructuring and restarting a series of firms including Forstmann-Leff, W.P. Stewart and Anchor Capital. These efforts included succession planning, marketing & sales team redesign, new technology & operations implementation, acquisitions, launching funds in the US & Luxembourg and employee buyouts.
Education
| Year | Degree | Subject | Institution |
|---|---|---|---|
| Year: 1979 | Degree: MBA | Subject: Finance | Institution: University of Illinois - Urbana |
| Year: 1977 | Degree: BS | Subject: Finance | Institution: University of Illinois - Urbana |
Work History
| Years | Employer | Title | Department |
|---|---|---|---|
| Years: 2019 to Present | Employer: Undisclosed | Title: Owner | Department: Consulting |
Responsibilities:Launched an LLC to be available on a consulting basis between interim and full-time roles. Can apply over 30 years of experience in asset & wealth management, capital markets and client service to assist companies with strategic growth plans, project management, product development and expansion. Work with buy-side and sell-side financial services firms, service providers and consultants in Strategy Development, Merger Management & Integration, Restructuring & Re-engineering, Succession Planning, Crisis Management and Sales Team Realignment. |
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| Years | Employer | Title | Department |
| Years: 2013 to 2019 | Employer: Self Employed | Title: President / Chief Operating & Financial Officer | Department: Management |
Responsibilities:Responsible for day-to-day management of a privately held RIA. A $9b+ value manager to the institutional, retail and wealth management channels using WRAP/UMA and separate accounts. Introduced a multi-year growth plan. BUYBACK: Led a complex negotiation to buy back a majority interest in Anchor from our parent, a mid-tier commercial and private bank. Relocated the firm. DISTRIBUTION EXPANSION: Grew the team from 4 to 8 wholesalers. Realigned teams to enhance productivity. Restructured compensation to create sales incentives. Implemented an internal sales desk to support the field force and target under-covered regions. Developed reporting to track progress. MARKETING & BRANDING: Established a marketing function resulting in new website, targeted outreach to clients and prospects through market commentaries and perspective pieces with focused campaigns. SUCCESSION: Successfully implemented a senior management succession plan that transitioned key roles to the next generation with no loss of assets. Implemented a messaging and client outreach campaign. INSTITUTIONAL SALES: Hired a head of sales to begin the firm’s first systematic outreach to key clients and consultants, to develop new business and to improve retention. PRIVATE CLIENT: Appointed a head of private client tasked with transitioning one-off accounts to full wealth planning relationships. TECHNOLOGY & OPERATIONS: Implemented CRM, billing, on-line statement and portfolio analytics software. Implemented disaster recovery and support plans, outsourcing key elements. |
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| Years | Employer | Title | Department |
| Years: 2010 to 2013 | Employer: W.P. STEWART & CO., LTD. | Title: Chief Operating & Financial Officer | Department: Management |
Responsibilities:Responsible for day-to-day management of international publicly traded RIA. Firm had $1.6b in AUM providing concentrated Large, US Mid-Cap, Global and International strategies to high-net-worth individuals and institutions through separate accounts and funds. RESTRUCTURING & REPATRIATION: Completed a restructuring that included re-domestication from Bermuda; E&P (tax) analysis of the restructuring; delisting; closing the U.S. broker-dealer; consolidating legal entities; restructuring fees; and selection of new auditors, tax and insurance providers. OFFSHORE TAX: Identified and addressed key legacy issues, including delinquent tax and regulatory filings in the UK, Luxembourg and Curacao along with tax audits by the IRS and NYS/NY UCITS FUND LAUNCH: Worked with third-party providers in Luxembourg to register and launch two UCITS IV funds. Served as UCITS Fund Board member (Luxembourg) for WPS Holdings & the WPS UCITS IV funds. HONG KONG ACQUISITION: Coordinated the acquisition and integration of Bowen Asia Limited, a Hong Kong based investment management and research firm covering China, India, Japan and South Korea. GIPS COMPLIANCE: Initiated and managed a successful multi-year effort to reconstruct the firm’s 30+ year track records and achieve verified GIPS compliance. PARTNER SEARCH: Coordinated the search, investment banker selection, due diligence, evaluation and negotiations, which ultimately led to firm’s sale to Alliance Bernstein L.P. |
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| Years | Employer | Title | Department |
| Years: 2005 to 2010 | Employer: AG (Angelo Gordon) ASSET MANAGEMENT LLC | Title: Chief Operating & Financial Officer | Department: Management |
Responsibilities:Served as COO/CFO of a privately held RIA with responsibility for all day-to-day management. The firm (then Forstmann-Leff) was a $4.7b boutique serving institutional and WRAP clients specialized in Small, Mid and Large Cap long and short equity strategies. Served as member of the Board and chaired multiple Committees. PARTNER SEARCH: Teamed with CEO to negotiate the sale of a 60% interest to Old Mutual. Coordinated negotiations, financial analyses, due diligence, employee ownership structures, and integration planning, . EMERGENCY RESTRUCTURING: Assumed management of firm after the Old Mutual deal collapsed due to the Refco scandal and the CEO’s resignation: • Orchestrated the purchase of majority owner’s interest by employees. • Downsized and restructured to avoid bankruptcy as clients left due to the Refco association. • Stabilized the firm and client base over a six-month period and sold a 60% interest to Angelo Gordon – a transaction listed on Deal Magazine’s 2005 Top 100 List. PRODUCTS: Introduced 130/30 active extension portfolios in 2007 and a mutual fund family in 2008. |
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| Years | Employer | Title | Department |
| Years: 2002 to 2005 | Employer: UBS GLOBAL ASSET MANAGEMENT | Title: Executive Director | Department: Sales & Distribution |
Responsibilities:Served as Business Manager to the America’s Head of Wholesale Distribution covering mutual fund and managed account distribution through PaineWebber & third-party sub-advisory advisor networks (2004 sales $10b). |
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| Years | Employer | Title | Department |
| Years: 2000 to 2002 | Employer: GOLDMAN, SACHS & Co. | Title: Vice President | Department: Internal Consulting |
Responsibilities:Joined a dedicated group working with senior management, compliance and the risk committee leading cross-divisional initiatives to improve efficiency and controls. |
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| Years | Employer | Title | Department |
| Years: 1989 to 2000 | Employer: UBS INVESTMENT BANK | Title: Executive Director | Department: See Responsibilities |
Responsibilities:Played a continuous role in the evolution of Swiss Bank / O’Connor & Associates into the global investment bank UBS.Served in key global roles based in Chicago, Zurich, London and New York including: + Business Planning - leading the planning process across all areas of the International Bank, + Chief of Staff to the Global Head of Operations – restructuring & unifying the Global Operations Group (2,000 staff) + Project Management Office – leading key cross-divisional and cross-border projects, including the Paine Webber Integration, Y2K Americas and Euro. |
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| Years | Employer | Title | Department |
| Years: 1979 to 1989 | Employer: ACCENTURE / ANDERSEN CONSULTING | Title: Senior Manager | Department: Consulting |
Responsibilities:Assisted clients with strategic planning; merger and acquisition management; reengineering; and systems planning, design, and implementation. Led all aspects of the client relationship, including direct business development, proposal preparation and project management. Served clients across multiple industries, including government, telecommunications and healthcare, with a primary focus on financial services. |
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International Experience
| Years | Country / Region | Summary |
|---|---|---|
| Years: 1989 to 2000 | Country / Region: Switzerland | Summary: Played a continuous role in the evolution of Swiss Bank / O’Connor & Associates into the global investment bank UBS. Served in key global roles based in Chicago, Zurich, London and New York including: Business Planning - leading the planning process across all areas of the International Bank, Chief of Staff to the Global Head of Operations – restructuring & unifying the Global Operations Group (2,000 staff) and the Project Management Office – leading key cross-divisional and cross-border projects, including the Paine Webber Integration, Y2K Americas and Euro. |
| Years: 1989 to 2000 | Country / Region: United Kingdom | Summary: Played a continuous role in the evolution of Swiss Bank / O’Connor & Associates into the global investment bank UBS. Served in key global roles based in Chicago, Zurich, London and New York including: Business Planning - leading the planning process across all areas of the International Bank, Chief of Staff to the Global Head of Operations – restructuring & unifying the Global Operations Group (2,000 staff) and the Project Management Office – leading key cross-divisional and cross-border projects, including the Paine Webber Integration, Y2K Americas and Euro. |
Additional Experience
| Training / Seminars |
|---|
| Taught multiple classes as part of the Andresen Consulting / Accenture global training center. |
| Vendor Selection |
|---|
| Implemented CRM, billing, on-line statement and portfolio analytics software. Implemented disaster recovery and support plans, outsourcing key elements. |
| Marketing Experience |
|---|
| MARKETING & BRANDING: Established a marketing function resulting in new website, targeted outreach to clients and prospects through market commentaries and perspective pieces with focused campaigns. SALES & DISTRIBUTION EXPANSION: Grew the team from 4 to 8 wholesalers. Realigned teams to enhance productivity. Restructured compensation to create sales incentives. Implemented an internal sales desk to support the field force and target under-covered regions. Developed reporting to track progress. TEAM MANAGEMENT: Served as Business Manager to the America’s Head of Wholesale Distribution covering mutual fund and managed account distribution through PaineWebber & third-party sub-advisory advisor networks (2004 sales $10b). |
Language Skills
| Language | Proficiency |
|---|---|
| English | Native |