Professional Overview: An experienced business executive who is a creative problem solver with significant business acumen and experience. Known for his leadership, organizational and planning skills and excellent analytical abilities. Thirty-four years of career experiences include positions in public accounting, banking and technology.
Strengths: Management, business deal structuring and negotiation, corporate finance, accounting, strategic planning, asset-liability management and written communication skills.
Likely Application of Skills: Deal evaluation and negotiation, determination of strategic direction, corporate financial management, process and project management, drafting of offering information and interest rate sensitivity analysis.
Relevant Career Experience:
- Broad banking industry experience
- Technology management experience
- 13 sale transactions
- Experienced negotiator
- Excellent written communicator
Banking and Related Industry Experience:
2004 - present: Executive Vice President and Senior Principal for Capital Management Associates. Presently serving as the outsourced President and CEO and as a member of the board of directors for Edge Technologies, Inc. in Ames, Iowa.
2003 - 2004: President and Chief Executive Officer for Enterprise Corporation International, a software technology and technical support company. Retained by major investors to assess the economic potential of the Company's software product offerings, strengthen corporate governance, enhance software product developement, and improve financial reporting.
2000 - 2002: Financial consultant serving in role as Chief Financial Officer for Viewpointe Archive Services, a digital check archive serving the banking industry. Provided business and financial expertise representing Viewpointe in the negotiation of joint venture, service and operating agreements in addition to managing all financial, accounting and legal functions.
1996 - 1999: Senior Vice President of Bank of America. Managed a business unit composed of 25 professionals that provided financial support for Bank of America's major business transactions. Major transactions support included a wide-range of Bank of America projects and departments such as Y2K, strategic technologies, acquisition controllership, unit costs and global finance costs.
1977 - 1996: Performed various financial roles including Senior Vice President, CFO and Treasurer from 1984 to 1996. Managed all the financial aspects of an Iowa-based publicly traded, multi-bank holding company, which was known as First Interstate of Iowa through 1992 and Boatmen's Bancshares of Iowa through 1996, including corporate finance, strategic planning, investor relations, mergers and acquisitions, SEC reporting, controllership functions, financial operations, general services, treasury, bank compliance, leasing and internal audit.
- As CFO, working with investment banker Merrill Lynch, led successful efforts to sell First Interstate of Iowa, a publicly traded, multi-bank holding company. The nine month process culminated in a sale to Boatmen's Bancshares, Inc. of St. Louis, Missouri for approximately $129 million.
- Devised a new product delivery strategy resulting in the sale of eleven banking locations of Boatmen's Bancshares of Iowa. Marketed the eleven banking locations and conducted sales negotiations that culminated in sales contracts. Sales proceeds substantially exceeded expectations.
- Designed and supervised the consolidation and centralization of the administrative and operational functions of First Interstate of Iowa's subsidiary banks. Achieved annual savings of more than $3 million. This consolidation plan was subsequently used as a model by the Boatmen's organization. The plan made a significant contribution to reducing the Iowa banking organization's efficiency ratio from more than 80% to nearly 60%.
- Initiated and then successfully negotiated and issued convertible subordinated capital notes for First Interstate of Iowa. The resulting $28.7 million public issue was used to recapitalize First Interstate of Iowa after the agricultural crisis in the late 1980s, providing a strong financial foundation resulting in the retirement of bank debt and the resumption of dividends.
- Designed and supervised cost-reduction programs and income enhancements, which resulted in $500,000 of increased annual income for First Interstate of Iowa.
Education: B.A., University of Northern Iowa, 1971
Professional Designation: Certified Public Accountant
Military Experience: US Army, 1965 - 1968, Vietnam Veteran
Capital Management Associates, Inc.
2600 Grand Avenue, Suite 410
Des Moines, Iowa 50312