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TRENDS IN FAMILY OFFICES
JUNE 28TH
On August 17th we will host a full day seminar on Trends in Family Offices. This event is oriented towards persons in the Family Office
industry working primarily for single family offices as well as multi-family offices. We will spend the day reviewing trends in
family offices with leading experts on the subject matter. This event is for people who presently run or are involved in
Family Office business related info. To get through security, you must register. The event starts at 8 a.m. and ends at 5:30 p.m. A reception will follow.
DONNA PULINI, SENIOR MANAGER - ABERDEEN ASSET MANAGEMENT
At Aberdeen Asset Management , Donna Pulini is a Senior Business Development Manager in the Financial Institutions Group, responsible for working with Single Family Offices. Donna joined Aberdeen in September 2010 after serving 3 years in Istanbul with Global Investment Holdings where she was Head of Institutional sales in their brokerage subsidiary and in charge of Institutional Corporate Communications. Prior to that she worked for Bloomberg in New York City and was the Regional Vice President at Schwab Institutional in Radnor PA for four years. Donna graduated with a BA from Long Island University and has done graduate work at The Fletcher School of Law and Diplomacy at Tufts University. Donna holds the Six Sigma Green and Black Belt certifications from Villanova University.
DAMON HEMMERDINGER, SENIOR VICE PRESIDENT - ATCO PROPERTIES AND MANAGEMENT
Mr. Hemmerdinger is Senior Vice President of ATCO, where he is in charge of acquisitions and development, as well as overseeing the operations and accounting departments. Damon is also developing ATCO’s Street Retail Fund, an investment vehicle focused on commercial condominium units in mixed-use buildings in America’s best cities. Damon is passionate about the environment, and that passion shows in his work. His two brownfield cleanup projects were honored with the 2007 Region 2 Phoenix Award and the 2010 NYC Brownfield Partnership Open Space Award, and for solar systems, he earned the 2010 Energy Consumer’s Council Leadership Award. Damon also serves on the New York State Brownfield Advisory Panel, the State’s official policy-making body. Previously, Damon was the Development Director for The Shops at Atlas Park, a 400,000, 12-acre mixed-use development in Queens, NY, and as the Director of Real Estate Development for the New London (CT) Development Corporation. His public sector experience includes work for the Connecticut Attorney General’s Office, the Clinton White House Chief of Staff’s Office, and the US Department of Defense. Damon is currently Chairman of the Board of Directors of AmericaSpeaks, and is a member of the Board of Governors of the Real Estate Board of New York (REBNY) and the Open Air Committee of the International Council of Shopping Centers (ICSC). He is a graduate of the Yale Law School and Williams College.
ANDREW MITCHELL, CEO & CHIEF INVESTMENT OFFICER - PACIFICOR
Prior to joining Pacificor, Mr. Mitchell was Vice President and Co-Portfolio Manager of high yield and convertible funds at ING. Previously Mr Mitchell was Senior Mr.Vice President and High Yield Analyst at Merrill Lynch Asset Management. At Merrill Lynch Mr. Mitchell and his team managed over $6 Billion in High Yield bonds, and also earned distinction by taking 1st place in Merrill’s industry wide bankruptcy prediction competition
From 1994 to 1998 Mr. Mitchell was Senior High Yield Analyst with Wertheim Schroder Investment Services in New York and Los Angeles. He started his career as a research analyst with Wallington Asset Management in 1992. Benefiting from a diverse career, Mr. Mitchell has experience working with mutual funds, institutional accounts, CDO’s, and high net worth investors. In addition to his investment experience, Mr. Mitchell has an operational background in the oil refining industry with Exxon and in the mining and industrial construction industries with Chevron Resources.
Mr. Mitchell has earned the CFA (Chartered Financial Analyst) designation and holds a Masters in Business Administration in Finance from the Kelley School of Business at Indiana University.
BRENT FYKES, SENIOR INVESTMENT PARTNER - GENSPRING FAMILY OFFICE
Brent joined GenSpring Family Offices in 2002 as a Family Investment Officer (FIO) and is responsible for the introduction, implementation, and management of GenSpring's investment process. Brent's responsibilities as FIO include investment policy formation, client asset allocation and portfolio management, investment manager selection, and client portfolio performance reviews. His role as Investment Partner is to act as a mentor to GenSpring investment professionals, ensure consistent investment advice delivery and client investment experiences, provide guidance on client communications, and represent GenSpring at industry and marketing events. His role as Director of Portfolio Implementation expands his responsibilities related to ensuring consistency of client experience as it relates to investment portfolios. Additionally, he supervises GenSpring’s client-facing investment professionals providing them with guidance, communication, and implementation tools that can be utilized with all GenSpring clients.
Prior to joining GenSpring, Brent was Team Leader for the Southeast Division of AXA Client Solutions managing investment portfolios and creating asset allocations for high net worth clientele. He performed due diligence on traditional and hedge fund investment managers as well as individual equity, fixed income, and real estate securities. Brent developed client investment portfolios around the principles of diversification through the use of optimal asset classes. He received the AXA Heart award for his dedication to client service in 2001.
Brent spent several years as Senior Associate with Homrich & Berg, a premier investment management and financial planning firm in Atlanta, Georgia. He was responsible for managing high net worth client relationships as well as client investment portfolios.
Brent earned his bachelor's degree in finance with a concentration in investments from the University of Alabama. He received his master's degree in financial planning from Georgia State University. He is a Chartered Financial Analyst and a Certified Financial Planner. He is a member of the CFA Institute as well as the South Florida Society of Security Analysts.
CHARLES MCDONALD, INVESTMENT CONSULTANT - TOWERS WATSON
Towers Watson is a global consulting firm that provides investment advisory services to large corporations, insurance companies, endowments and foundations, and sovereign wealth funds advising on more than $2 trillion of assets. Charles develops the U.S. market for TW’s hedge fund consulting services. This is a newly created position, which includes internal education, hedge fund research of both single strategy funds and funds of funds, new client development, and assisting in contract negotiations on behalf of clients. He also acts as a resource to general investment consultants who are trying to determine how best to implement hedge fund strategies within institutional investment portfolios.
Prior to that he worked with Mercer Advisory as a consultant to corporate and public pension plans. He has an MBA from Cornell University.
STEVE SOLYS, PARTNER, LEGACY PRIVATE CAPITAL (MULTI-FAMILY OFFICE)
Steve Solys is the founder of Legacy Private Capital, a firm focused on working with High Net Worth Families as the guardian of their objectives. It is a family office in the areas of estate, business, charitable, life insurance and wealth management
HENLEY SMITH, CHIEF INVESTMENT OFFICER - COMMON WEALTH ASSET MANAGEMENT LLC (GABELLI FAMILY OFFICE)
Henley serves as Chief Investment Officer and Fixed Income Portfolio Manager of Commonwealth. He is charged with initial oversight responsibilities, as well as direct involvement of all client, and portfolio investment involving CAMLLC fixed income products. Prior to joining CAMLLC, Henley served as Chief Investment Officer and senior portfolio manager of Castleton Partners LLC, a New York City based wealth management firm specializing in high grade municipal bond investing. Prior to Castleton, Henley served as CIO of Gabelli Fixed Income LLC with primary responsibility for implementing market strategy and investment policy since that firm's inception in 1987.
Henley chaired Gabelli's Fixed Income Investment Policy Committee, and served as Vice President of the Treasurer's Fund, a family of money market and fixed income mutual funds. In addition, Henley has managed various public and private investment portfolios ranging state sponsored investment pools (New Hampshire Public Deposit Investment Pool) to short duration and core fixed income mandates for Fortune 5000 companies, unions and various other institutions including hospitals and chartable foundations. Henley was also instrumental in the design marketing and implementation of the Cooperative Liquid Asset Security System (CLASS) currently being administered in several states.
Henley has been cited in various industry publications and participated in numerous investment forums championing a safe, straight forward and understandable strategy for achieving one's investment objectives. Henley brings a client centric focus to CAMLLC whose mission is to design/manage customized solutions for capital and wealth creation, enhancement and preservation. He was graduated from St. Lawrence University with a Bachelor of Science degree in economics.
MARK BLUMENTHAL, PARTNER AND CHAIRMAN OF THE FAMILY OFFICE SERVICE GROUP - BLACKMAN KALLICK
Mark Blumenthal, CPA, is a Partner and Chairman of the Family Office Service Group at the accounting and business advisory firm Blackman Kallick in Chicago. He is also the Co-Chairman of the Private Equity Venture Capital group and the senior real estate tax partner of the firm.
Mark serves as a strategic advisor to ultra affluent families, family offices, private equity/venture capital funds and mature private businesses. He advises clients on buying, selling and investing in private businesses and real estate; the formation of family and investment limited partnerships, family offices and private foundations; and income tax and transaction planning.
Mark has written articles for numerous publications, including The Illinois Institute for Continuing Legal Education, The Tax Advisor, Taxation for Accountants, The Journal of Property Management, The Real Estate Securities Journal, The Journal of Real Estate Development, Taxation for Lawyers, Real Estate Forum and The New York State Bar Association Partnership Handbook.
Mark’s most recent article entitled “Extreme Makeover” appeared in Worth discussing the need for family offices to embrace best-in-class management and organizational standards.
Mark has been on the speaker faculty for the Investment Management Consultants Association (IMCA), The Family Office Forum, Illinois Venture Capital Association (IVCA), the Family Succession Planning Institute, the Family Office Exchange, the Family Office Management Conference, Family Office Symposium, the Illinois Institute for Continuing Legal Education, the Chicago Bar Association, IIIR’s Mastering Tax & Estate Planning Conference, the Center for Professional Education, and others. He has also been quoted in Bloomberg Wealth Manager, The Chicago Tribune, The Los Angeles Times, The Arizona Republic, The Philadelphia Inquirer, Washington City Paper, Accounting Today and The Family Wealth Report.
Prior to merging his practice with Blackman Kallick, Mark was a tax partner at Deloitte.
Mark received both his Bachelor of Science and Master of Business Administration degrees from the University of Illinois. He is a member of the Chicago Estate Planning Council, the Illinois Venture Capital Association, the American Institute of Certified Public Accountants, the Illinois CPA Society, and the JUF Professional Advisory Committee serving as chairman.
KRIS CARNEY, DIRECTOR INVESTMENTS AND CIO - PRIVATUS
Kris Managed the investments for a family office (100+ trusts) as it transitioned to a private trust company. In process he analyzed over 300 equity holdings - high concentration of technology, healthcare and energy; liquidating 75% from ’07 - early ’08. Reinvested proceeds into multiple asset classes, managers and structures in ’09. He analyzed and funded multiple private equity and venture backed tech, healthcare and energy investments. He diversified assets into a multiple asset class open architecture structure adding active equity managers, alternative investments, taxable fixed income and real assets. He also led the investment committee in setting investment policy, asset allocation, risk parameters, benchmarks, performance, due diligence, manager selection and buy and sell recommendations. He also built new family office investment and operations platforms, including research, banking, technology, trading relationships and selection of investment consultant; negotiated contract terms and fees; responsible for committee meeting agendas and presentation materials, client statements, portfolio reviews and client meetings. Participated in creation of common trust funds, internal and external fund accounting, audits and trust review committee.
He has series 7 and 63 licenses and is a Registered Investment Advisor. He has a degree from the University of Wisconsin at Madison in Economics.
JC KANE, MANAGING DIRECTOR - LIGHTHOUSE POINT ADVISORS
Lighthouse Point Advisors advises families on alternative and investment decisions and advise investment managers on marketing, advisory, and strategic positioning. JC Kane is a highly accomplished investment executive with more than 30 years of hands on experience on Wall Street. From the mid 1980's, he built a successful career of managing assets and private investment funds for individuals and private families worldwide. He has been a Managing Director at Morgan Stanley and Laidlaw. He was CEO of SB Group and SBGAM a $900 million asset manager which he sold in 2006. He has an MBA from Tuck / Dartmouth and a PMC from Wharton.
MIKE DEVLIN, DIRECTOR - SPRUCE PRIVATE INVESTORS
As Director of Portfolio Management, Michael is responsible for business development and managing client relationships. Michael’s focus is to work with clients to ensure they receive the level of service and transparency they require to affirm their individual investment strategy.
Michael joined Spruce Private Investors in March 2010 bringing with him close to two decades of experience helping family offices and high net worth individuals navigate the issues associated with personal wealth tied to corporate success. Over the years Michael has worked closely with clients to identify their unique investment challenges and to develop tax efficient investment strategies utilizing a full range of derivative products.
Prior to joining Spruce, Michael worked and consulted with family offices and high net worth individuals to create customized investment strategies through the use of a broad range of equity derivatives and derivative products. Michael spent five years in the Private Client Group at Lehman Brothers focused on the unique investment needs of clients who held large concentrated stock positions. He continued to build his derivatives expertise in sales roles at both Commerzbank and Merrill Lynch. Michael then joined BNP Paribas where he was responsible for developing tax efficient investment strategies for family offices through the creation of structured products.
Michael earned his M.B.A. in Finance from the Robert H. Smith School of Business at The University of Maryland. Lighthouse Point Advisors advises families on alternative and investment decisions and advise investment managers on marketing, advisory, and strategic positioning.
RICHARD SELVALA - CHIEF EXECUTIVE OFFICER AND CO-FOUNDER, HARVEST VOLATILITY MANAGEMENT
Rick Selvala is the Chief Executive Officer and Co-Founder of Harvest Volatility Management. Since inception in April 2008, Harvest has grown its strategy notional AUM from $1mm to $1,106mm via 76 separately managed accounts (as of 5/1/11) which includes the Harvest Volatility Alpha Fund (HVAF). We are targeting ~8-12% annualized returns over time (on cash invested/posted or on the cash equivalent margin release capacity on your underlying securities/collateral). Harvest was positive in 2008, 2009, 2010 and 2011 YTD. Our annualized return since inception is +9.4% net of fees and has outperformed the S&P 500 by 21.6% with less than ½ the standard deviation and a correlation to the S&P 500 of about 0.2.
Prior to founding Harvest, Rick was the Head of Client Strategy, Marketing and Sales for Volaris, a volatility management unit of Credit Suisse. He was responsible for managing the private banking, institutional and third party distribution channels and relationships. He was also actively involved in the development of new Volaris products and strategy offerings. Prior to joining Volaris he was a Director in Credit Suisse’s Equity Derivatives group responsible for marketing and structuring hedging solutions for ultra high net worth clients and third party intermediaries.
Prior to joining Credit Suisse, he spent eight years at UBS advising the firm’s top corporate, institutional and high net worth clients regarding FX and equity derivative hedging solutions. He won the firm’s top cross product marketing award in 1998. He also won Global Finance’s award for the most innovative corporate FX hedging strategy in 1999. He has spoken at numerous derivatives and risk management conferences and contributed many articles concerning risk management practices.
Rick also spent four years with General Motors’ N.Y. Treasurer’s Office in Capital Markets and Fixed Income assignments. His most recent position was Manager of GM’s FX & Commodities Hedging group in New York.
Rick graduated from the University of Michigan with a Bachelor’s Degree in Mechanical Engineering in 1985 where he was a member of Pi Tau Sigma and Sigma Alpha Epsilon. He received an MBA from the Harvard Business School in 1990 where he was a General Motors’ Fellow and a writer for the Harbus.
DONNA PULINI, SENIOR MANAGER - ABERDEEN ASSET MANAGEMENT
At Aberdeen Asset Management , Donna Pulini is a Senior Business Development Manager in the Financial Institutions Group, responsible for working with Single Family Offices. Donna joined Aberdeen in September 2010 after serving 3 years in Istanbul with Global Investment Holdings where she was Head of Institutional sales in their brokerage subsidiary and in charge of Institutional Corporate Communications. Prior to that she worked for Bloomberg in New York City and was the Regional Vice President at Schwab Institutional in Radnor PA for four years. Donna graduated with a BA from Long Island University and has done graduate work at The Fletcher School of Law and Diplomacy at Tufts University. Donna holds the Six Sigma Green and Black Belt certifications from Villanova University.
DAMON HEMMERDINGER, SENIOR VICE PRESIDENT - ATCO PROPERTIES AND MANAGEMENT
Mr. Hemmerdinger is Senior Vice President of ATCO, where he is in charge of acquisitions and development, as well as overseeing the operations and accounting departments. Damon is also developing ATCO’s Street Retail Fund, an investment vehicle focused on commercial condominium units in mixed-use buildings in America’s best cities. Damon is passionate about the environment, and that passion shows in his work. His two brownfield cleanup projects were honored with the 2007 Region 2 Phoenix Award and the 2010 NYC Brownfield Partnership Open Space Award, and for solar systems, he earned the 2010 Energy Consumer’s Council Leadership Award. Damon also serves on the New York State Brownfield Advisory Panel, the State’s official policy-making body. Previously, Damon was the Development Director for The Shops at Atlas Park, a 400,000, 12-acre mixed-use development in Queens, NY, and as the Director of Real Estate Development for the New London (CT) Development Corporation. His public sector experience includes work for the Connecticut Attorney General’s Office, the Clinton White House Chief of Staff’s Office, and the US Department of Defense. Damon is currently Chairman of the Board of Directors of AmericaSpeaks, and is a member of the Board of Governors of the Real Estate Board of New York (REBNY) and the Open Air Committee of the International Council of Shopping Centers (ICSC). He is a graduate of the Yale Law School and Williams College.
ANDREW MITCHELL, CEO & CHIEF INVESTMENT OFFICER - PACIFICOR
Prior to joining Pacificor, Mr. Mitchell was Vice President and Co-Portfolio Manager of high yield and convertible funds at ING. Previously Mr Mitchell was Senior Mr.Vice President and High Yield Analyst at Merrill Lynch Asset Management. At Merrill Lynch Mr. Mitchell and his team managed over $6 Billion in High Yield bonds, and also earned distinction by taking 1st place in Merrill’s industry wide bankruptcy prediction competition
From 1994 to 1998 Mr. Mitchell was Senior High Yield Analyst with Wertheim Schroder Investment Services in New York and Los Angeles. He started his career as a research analyst with Wallington Asset Management in 1992. Benefiting from a diverse career, Mr. Mitchell has experience working with mutual funds, institutional accounts, CDO’s, and high net worth investors. In addition to his investment experience, Mr. Mitchell has an operational background in the oil refining industry with Exxon and in the mining and industrial construction industries with Chevron Resources.
Mr. Mitchell has earned the CFA (Chartered Financial Analyst) designation and holds a Masters in Business Administration in Finance from the Kelley School of Business at Indiana University.
BRENT FYKES, SENIOR INVESTMENT PARTNER - GENSPRING FAMILY OFFICE
Brent joined GenSpring Family Offices in 2002 as a Family Investment Officer (FIO) and is responsible for the introduction, implementation, and management of GenSpring's investment process. Brent's responsibilities as FIO include investment policy formation, client asset allocation and portfolio management, investment manager selection, and client portfolio performance reviews. His role as Investment Partner is to act as a mentor to GenSpring investment professionals, ensure consistent investment advice delivery and client investment experiences, provide guidance on client communications, and represent GenSpring at industry and marketing events. His role as Director of Portfolio Implementation expands his responsibilities related to ensuring consistency of client experience as it relates to investment portfolios. Additionally, he supervises GenSpring’s client-facing investment professionals providing them with guidance, communication, and implementation tools that can be utilized with all GenSpring clients.
Prior to joining GenSpring, Brent was Team Leader for the Southeast Division of AXA Client Solutions managing investment portfolios and creating asset allocations for high net worth clientele. He performed due diligence on traditional and hedge fund investment managers as well as individual equity, fixed income, and real estate securities. Brent developed client investment portfolios around the principles of diversification through the use of optimal asset classes. He received the AXA Heart award for his dedication to client service in 2001.
Brent spent several years as Senior Associate with Homrich & Berg, a premier investment management and financial planning firm in Atlanta, Georgia. He was responsible for managing high net worth client relationships as well as client investment portfolios.
Brent earned his bachelor's degree in finance with a concentration in investments from the University of Alabama. He received his master's degree in financial planning from Georgia State University. He is a Chartered Financial Analyst and a Certified Financial Planner. He is a member of the CFA Institute as well as the South Florida Society of Security Analysts.
CHARLES MCDONALD, INVESTMENT CONSULTANT - TOWERS WATSON
Towers Watson is a global consulting firm that provides investment advisory services to large corporations, insurance companies, endowments and foundations, and sovereign wealth funds advising on more than $2 trillion of assets. Charles develops the U.S. market for TW’s hedge fund consulting services. This is a newly created position, which includes internal education, hedge fund research of both single strategy funds and funds of funds, new client development, and assisting in contract negotiations on behalf of clients. He also acts as a resource to general investment consultants who are trying to determine how best to implement hedge fund strategies within institutional investment portfolios.
Prior to that he worked with Mercer Advisory as a consultant to corporate and public pension plans. He has an MBA from Cornell University.
STEVE SOLYS, PARTNER, LEGACY PRIVATE CAPITAL (MULTI-FAMILY OFFICE)
Steve Solys is the founder of Legacy Private Capital, a firm focused on working with High Net Worth Families as the guardian of their objectives. It is a family office in the areas of estate, business, charitable, life insurance and wealth management
HENLEY SMITH, CHIEF INVESTMENT OFFICER - COMMON WEALTH ASSET MANAGEMENT LLC (GABELLI FAMILY OFFICE)
Henley serves as Chief Investment Officer and Fixed Income Portfolio Manager of Commonwealth. He is charged with initial oversight responsibilities, as well as direct involvement of all client, and portfolio investment involving CAMLLC fixed income products. Prior to joining CAMLLC, Henley served as Chief Investment Officer and senior portfolio manager of Castleton Partners LLC, a New York City based wealth management firm specializing in high grade municipal bond investing. Prior to Castleton, Henley served as CIO of Gabelli Fixed Income LLC with primary responsibility for implementing market strategy and investment policy since that firm's inception in 1987.
Henley chaired Gabelli's Fixed Income Investment Policy Committee, and served as Vice President of the Treasurer's Fund, a family of money market and fixed income mutual funds. In addition, Henley has managed various public and private investment portfolios ranging state sponsored investment pools (New Hampshire Public Deposit Investment Pool) to short duration and core fixed income mandates for Fortune 5000 companies, unions and various other institutions including hospitals and chartable foundations. Henley was also instrumental in the design marketing and implementation of the Cooperative Liquid Asset Security System (CLASS) currently being administered in several states.
Henley has been cited in various industry publications and participated in numerous investment forums championing a safe, straight forward and understandable strategy for achieving one's investment objectives. Henley brings a client centric focus to CAMLLC whose mission is to design/manage customized solutions for capital and wealth creation, enhancement and preservation. He was graduated from St. Lawrence University with a Bachelor of Science degree in economics.
MARK BLUMENTHAL, PARTNER AND CHAIRMAN OF THE FAMILY OFFICE SERVICE GROUP - BLACKMAN KALLICK
Mark Blumenthal, CPA, is a Partner and Chairman of the Family Office Service Group at the accounting and business advisory firm Blackman Kallick in Chicago. He is also the Co-Chairman of the Private Equity Venture Capital group and the senior real estate tax partner of the firm.
Mark serves as a strategic advisor to ultra affluent families, family offices, private equity/venture capital funds and mature private businesses. He advises clients on buying, selling and investing in private businesses and real estate; the formation of family and investment limited partnerships, family offices and private foundations; and income tax and transaction planning.
Mark has written articles for numerous publications, including The Illinois Institute for Continuing Legal Education, The Tax Advisor, Taxation for Accountants, The Journal of Property Management, The Real Estate Securities Journal, The Journal of Real Estate Development, Taxation for Lawyers, Real Estate Forum and The New York State Bar Association Partnership Handbook.
Mark’s most recent article entitled “Extreme Makeover” appeared in Worth discussing the need for family offices to embrace best-in-class management and organizational standards.
Mark has been on the speaker faculty for the Investment Management Consultants Association (IMCA), The Family Office Forum, Illinois Venture Capital Association (IVCA), the Family Succession Planning Institute, the Family Office Exchange, the Family Office Management Conference, Family Office Symposium, the Illinois Institute for Continuing Legal Education, the Chicago Bar Association, IIIR’s Mastering Tax & Estate Planning Conference, the Center for Professional Education, and others. He has also been quoted in Bloomberg Wealth Manager, The Chicago Tribune, The Los Angeles Times, The Arizona Republic, The Philadelphia Inquirer, Washington City Paper, Accounting Today and The Family Wealth Report.
Prior to merging his practice with Blackman Kallick, Mark was a tax partner at Deloitte.
Mark received both his Bachelor of Science and Master of Business Administration degrees from the University of Illinois. He is a member of the Chicago Estate Planning Council, the Illinois Venture Capital Association, the American Institute of Certified Public Accountants, the Illinois CPA Society, and the JUF Professional Advisory Committee serving as chairman.
KRIS CARNEY, DIRECTOR INVESTMENTS AND CIO - PRIVATUS
Kris Managed the investments for a family office (100+ trusts) as it transitioned to a private trust company. In process he analyzed over 300 equity holdings - high concentration of technology, healthcare and energy; liquidating 75% from ’07 - early ’08. Reinvested proceeds into multiple asset classes, managers and structures in ’09. He analyzed and funded multiple private equity and venture backed tech, healthcare and energy investments. He diversified assets into a multiple asset class open architecture structure adding active equity managers, alternative investments, taxable fixed income and real assets. He also led the investment committee in setting investment policy, asset allocation, risk parameters, benchmarks, performance, due diligence, manager selection and buy and sell recommendations. He also built new family office investment and operations platforms, including research, banking, technology, trading relationships and selection of investment consultant; negotiated contract terms and fees; responsible for committee meeting agendas and presentation materials, client statements, portfolio reviews and client meetings. Participated in creation of common trust funds, internal and external fund accounting, audits and trust review committee.
He has series 7 and 63 licenses and is a Registered Investment Advisor. He has a degree from the University of Wisconsin at Madison in Economics.
JC KANE, MANAGING DIRECTOR - LIGHTHOUSE POINT ADVISORS
Lighthouse Point Advisors advises families on alternative and investment decisions and advise investment managers on marketing, advisory, and strategic positioning. JC Kane is a highly accomplished investment executive with more than 30 years of hands on experience on Wall Street. From the mid 1980's, he built a successful career of managing assets and private investment funds for individuals and private families worldwide. He has been a Managing Director at Morgan Stanley and Laidlaw. He was CEO of SB Group and SBGAM a $900 million asset manager which he sold in 2006. He has an MBA from Tuck / Dartmouth and a PMC from Wharton.
MIKE DEVLIN, DIRECTOR - SPRUCE PRIVATE INVESTORS
As Director of Portfolio Management, Michael is responsible for business development and managing client relationships. Michael’s focus is to work with clients to ensure they receive the level of service and transparency they require to affirm their individual investment strategy.
Michael joined Spruce Private Investors in March 2010 bringing with him close to two decades of experience helping family offices and high net worth individuals navigate the issues associated with personal wealth tied to corporate success. Over the years Michael has worked closely with clients to identify their unique investment challenges and to develop tax efficient investment strategies utilizing a full range of derivative products.
Prior to joining Spruce, Michael worked and consulted with family offices and high net worth individuals to create customized investment strategies through the use of a broad range of equity derivatives and derivative products. Michael spent five years in the Private Client Group at Lehman Brothers focused on the unique investment needs of clients who held large concentrated stock positions. He continued to build his derivatives expertise in sales roles at both Commerzbank and Merrill Lynch. Michael then joined BNP Paribas where he was responsible for developing tax efficient investment strategies for family offices through the creation of structured products.
Michael earned his M.B.A. in Finance from the Robert H. Smith School of Business at The University of Maryland. Lighthouse Point Advisors advises families on alternative and investment decisions and advise investment managers on marketing, advisory, and strategic positioning.
RICHARD SELVALA - CHIEF EXECUTIVE OFFICER AND CO-FOUNDER, HARVEST VOLATILITY MANAGEMENT
Rick Selvala is the Chief Executive Officer and Co-Founder of Harvest Volatility Management. Since inception in April 2008, Harvest has grown its strategy notional AUM from $1mm to $1,106mm via 76 separately managed accounts (as of 5/1/11) which includes the Harvest Volatility Alpha Fund (HVAF). We are targeting ~8-12% annualized returns over time (on cash invested/posted or on the cash equivalent margin release capacity on your underlying securities/collateral). Harvest was positive in 2008, 2009, 2010 and 2011 YTD. Our annualized return since inception is +9.4% net of fees and has outperformed the S&P 500 by 21.6% with less than ½ the standard deviation and a correlation to the S&P 500 of about 0.2.
Prior to founding Harvest, Rick was the Head of Client Strategy, Marketing and Sales for Volaris, a volatility management unit of Credit Suisse. He was responsible for managing the private banking, institutional and third party distribution channels and relationships. He was also actively involved in the development of new Volaris products and strategy offerings. Prior to joining Volaris he was a Director in Credit Suisse’s Equity Derivatives group responsible for marketing and structuring hedging solutions for ultra high net worth clients and third party intermediaries.
Prior to joining Credit Suisse, he spent eight years at UBS advising the firm’s top corporate, institutional and high net worth clients regarding FX and equity derivative hedging solutions. He won the firm’s top cross product marketing award in 1998. He also won Global Finance’s award for the most innovative corporate FX hedging strategy in 1999. He has spoken at numerous derivatives and risk management conferences and contributed many articles concerning risk management practices.
Rick also spent four years with General Motors’ N.Y. Treasurer’s Office in Capital Markets and Fixed Income assignments. His most recent position was Manager of GM’s FX & Commodities Hedging group in New York.
Rick graduated from the University of Michigan with a Bachelor’s Degree in Mechanical Engineering in 1985 where he was a member of Pi Tau Sigma and Sigma Alpha Epsilon. He received an MBA from the Harvard Business School in 1990 where he was a General Motors’ Fellow and a writer for the Harbus.
DATE:
Tuesday, June 28th, 2011
Tuesday, June 28th, 2011
TIME:
* 8 AM to 5:30 PM
* Lunch, administrative preceding presentations, presentations, round table, reception.
* 8 AM to 5:30 PM
* Lunch, administrative preceding presentations, presentations, round table, reception.
VENUE:
THERE IS NO WALK IN REGISTRATION.
* Allegro Hotel
* 171 W. Randolph Street
* Chicago, IL
* Tel: (312) 236-0123
THERE IS NO WALK IN REGISTRATION.
For more information contact us