THIRTY YEARS OF FIDUCIARY & FINANCIAL SERVICE EXPERIENCE
Over thirty years management and client advisory experience in the fiduciary trust and financial services industries, encompassing more than twenty-five years representing large regional trust companies and another six years with prominent investment services firms - having spent the last fifteen years specializing in employer securities and ESOP fiduciary services.
REPRESENTATIVE EXAMPLES OF EXPERIENCE
Provided services to more than a hundred ESOP formations, ongoing assignments and sales transactions in the following industries:
· Architectural, Engineering and Construction Firms
· U.S. Federal Agency Contractors and Service Providers
· Insurance Carriers and Agencies
· Retail Grocery, Convenience and Fuel stores.
· Automobile and Component Parts
· General Manufacturing, Distribution and Supply
· Professional Consulting Services
· "B" (or "Benefit") Corporations
Worked on many specialty assignments including:
· Monitored ESOP participant "pass-through" voting for private and publicly-traded companies.
· Served one of the largest professional employer organization’s (PEO) multiple-employer 401(k) plans.
· Provided specialized services to the largest automobile club and insurance company’s 401(k) plan’s stable value portfolio.
· Assigned to replace enjoined plan trustee pursuant to a Department of Labor agreement.
· Participated in Unrelated Business Income Tax allocation negotiations for the Medical Benefits Trust of an auto union.
EXPERT WITNESS EXPERIENCE
· Plaintiff's expert supporting ESOP trustee's claim for breach of fiduciary duty against former trustee.
· Supported defendant's decision to engage in one of the largest ESOP transactions in history.
· Defendant's fiduciary expert supporting the prudent process leading to the independent fiduciary's decision to divest employer stock in a landmark stock-drop case.
PUBLICATIONS, PRESENTATIONS AND LECTURES
“Valuation and Communications”, Annual ESOP Association meeting, Washington, DC, May 2017
“Is an ESOP Right for Your Engineering Firm”, American Counsel of Engineering Companies Conference, Washington, DC April, 2017
“A Year in the Life of an ESOP Trustee”, ESOP Association Conference, Las Vegas, NV, November 2016
“Is an ESOP Right for You?”, American Counsel of Engineering Companies Annual Conference, Hawaii, October 2014
“Case Study on Expanding Corporate Governance: Appvion” NCEO Conference, April 2104
“ESOPs and B Corps” ESOP Association Conference, November 2012
“Appointing an Institutional Trustee – Best Practices*” New South ESOP Conference, October 2012
“Duties of an ESOP Trustee” Annual ESOP Association Conference, May 2012
“ESOP Valuation Basics”, NCEO Conference, April 2012
“Internal vs. External Trustee – Crossfire”, ESOP Association Conference, November 2011
“Who Should Act as Your ESOP Trustee?” NCEO Annual Conference, April 2011
“Uses of Company Stock in Qualified Plans” ASPPA Benefits Conference of the South, May 2010
Contributing Author of ESOP Association Fiduciary Handbook Chapter “The Decision to Terminate an ESOP,” 2010
Co-Editor of ESOP Association Fiduciary Handbook, Released 2010
“Employee Participation in Formal Governance: Ideas and Practices”, ESOP Association Conference, November 2009
Featured Speaker at the ESOP Association Annual Board of Directors of ESOP Companies Retreat, September 2009
“Trustee’s Annual ESOP Checklist”, ESOP Association Conference, May 2009
“Internal vs. External ESOP Trustee: Cross-fire”, ESOP Association Conference, November 2008
“Internal vs. External ESOP Trustee: Overview and Potential Conflicts”, ESOP Association Conference, November 2007
“Company Stock: From Tittle to DeFelice”, Reliance Trust Advisor Symposium, August 2007
“Governance and Fiduciary Overview: Potential Conflicts” ESOP Association Conference, May 2007
“The New Investment Advisor Paradigm; Fiduciary Outsourcing”, FEI Employee Benefits Group Meetings, December 2006
“Fiduciary Responsibility; A Corporate Trustee’s Perspective” DAC Conference, April 2003
Also lectured on various course curricula at the Cannon Institute’s Employee Benefits Schools primarily focused on fiduciary, investment and administrative topics relating to trust administration of qualified retirement plans, 1992 to 1996.
MEMBERSHIPS AND AFFILIATIONS
· The ESOP Association (TEA): Interdisciplinary Committee on Fiduciary Issues, Legislative and Regulatory Committee, Ownership Culture Committee and the Valuation and Appraisal Committee*
· Employee-Owned S Corporations of America* (ESCA)
· The National Center for Employee Ownership* (NCEO)
· American Society of Pension Professionals & Actuaries (ASPPA)
· American Bankers Association (ABA)
· Foundation for Fiduciary Studies (now FI360)
· Society of Professional Asset-Managers & Record Keepers (SPARK)
· Society of Certified Retirement Plan Specialists (CRPS)
· Cannon Financial Institute, Trust School
· Georgia State Soccer Foundation
· Mosaic Outdoor Hiking Club of Georgia