had an active portfolio, so it was a great
place to start our advisory business.
Q Has anybody been especially influential in your career?
We got those deals done based on our
leadership, advice, experience, and
relationships. We were able to do that
without capital, which is something
that I had had for my whole career,
and without the name of a big firm.
I think there’s a real rush to that.
You’re creating value for yourself
and your colleagues, and you’re
really just using your hustle and your
experience and your relationships
and your know-how to add value.
I’ve been fortunate to work
for a couple of exceptional business
leaders, both at my last job at Merrill
Lynch, with Dan Marszalek, and my
current role at Monroe Credit Advisors,
with Ted Koenig. Both are very different,
and both are very successful. One is
extremely disciplined and focused and
analytical and organized and really drives
with those attributes. The other is
incredibly entrepreneurial and creative
and tenacious. So I’ve gotten to work
with people who are successful but
leverage off of different strengths.
When you’re at a big firm it’s rewarding
to get your transactions done, but
there’s a big institution and resources
behind you. When you’re at a small
firm, and you’re not using capital to
get a transaction done, it’s incredibly
rewarding. That rewarding feeling
I feel, I think, is what drives a lot of
the turnaround consultants and
people who are in that field of doing
crisis management because if you
can be successful in that and really
create change through your own
leadership and actions, it’s really an
incredibly rewarding thing to do.
lawsuits. I was spending a lot of time out
at the company. We ended up making
a difficult loan, but when it worked out,
I remember seeing the people at the
company—the CEO and the thousands
of people that worked there. They
literally gave us an award for saving the
company and the jobs. As a banker, you
sit in your office and look at numbers
and you can forget that there are real
lives and real people who are affected
by those decisions made in the office.
Q What role has your TMA membership played in your career?
A big role. When I moved
to Chicago from Boston in early 1997 to
open an office for Bank Boston Business
Credit as head of business development
in the region, at the time I knew three
people in Chicago. I built my network
Q Do any engagements or jobs that you’ve had stand out as especially
important or as favorites?
I had been in lending for
20 years, and when I came over to the
advisory side, working on transactions as
an investment banker, I found it
incredibly rewarding, especially in the
first several engagements we closed.
Another example of the rewards
occurred earlier in my career. I was a
lender to an aluminum company that
ended up going through some tough
times. There were some shareholder
I started going to all the meetings and
became active with the group. I would
take the attendance sheet back to my
office and start going through the list
and setting up meetings with people.
It was really the way that I found to
figure out who was who and build
my network. I figured that if people
were attending those meetings, they
were interested in networking.
2013 Visit the TMA Events Calendar at turnaround.org to register and learn more. Southeast Regional
2013 TMA Southeast
May 30-31, 2013
The Westin Diplomat Resort & Spa
Ft. Lauderdale, Florida
Hosted by the Alabama, Carolinas, Florida, Atlanta, and Tennessee
TMA Chapters, the conference is an excellent opportunity to hear
from distinguished bankruptcy judges, lenders, and turnaround
practitioners regarding distressed situations. Networking
events include a golf outing and tennis tournament.