As a Series 8 and 23 Licensed Principal, Michael held the titles of Branch Manager, Regional Manager, Managing Director, and North American Leadership Team Member. He managed private bankers and institutional brokers. Responsible for syndicate allocations on a regional basis.
• Management of up to 110 registered representatives, compliance and operational staff.
• Supervised agency & principal transactions and fee-based discretionary investment management accounts.
Michael had overall regional responsibility for the oversight and compliance regarding multiple internal and external audits. Supervised an Office of Supervisory Jurisdiction (OSJ) and three branch offices. Consistently noted in audit findings for a “high level of compliance awareness with regulatory rules and firm policies” – Barclays Wealth Audit.
• Successfully passed 5 unannounced SEC & NASD audits
• Successfully passed 17 unannounced internal audits
Michael met or exceeded budget expectations as well as annually exceeded regional management goals.
• Assets under management exceeded $6.5B.
• Annual revenues under supervision at $110MM.
• Mix of revenues was UHNW ($25MM+ net worth) individuals and institutional clients.
• Lending obligations exceeded $2.5B.
PRODUCTS & SERVICES EXPERTISE
International as well as U.S. equities, both common and preferred stock. Transactional agency and principal business, as well, block trading and algorithimic trading. Prepaid forward transactions and installment sales.
Municipal, corporate and government bonds of all ratings, maturities and structures, including bond funds and ETF's. Municipal bond experience includes escrowed to maturity, pre-refunded, general obligations, revenue and callable/kicker bonds. Structured customized portfolios of ladders, barbells, state specific, etc. Corporate bond experience includes callable and putable bonds, equipment trust certificates, asset-backed securities and extensive high-yield experience. Government and agency bonds of all types, including foreign bonds and related FX conversions.
Actively used all classes of mutual funds including: Front-end sales load, CDSL, 12b-1 fees and institutional class. Supervised mutual fund switching. Active user of FINRA Mutual Fund Analyzer
Actively involved in servicing and supervision of descretionary fee based investment portfolios. Cutomized portfolios using assest allocation models and investment manager selection.
Naked put writing, covered call writing, spreads, hedging, speculative put / call purchases, and leaps.
Active and sizable trades in S&P Futures, Treasury Bond Futures, Metals and Agricultural Futures.
Experience includes all types of underlying primary securities, such as equities, bonds, loans, currencies, etc. Collateralized mortgage obligations (CMO's), Collateralized debt obligations (CDO's), Principal exchange rate linked securities (PERLS), structured equity index baskets. Derivative structures of all types.
Restricted Stock Transactions
Affiliates and insiders, including Rules, 10b5-1, 144, 145 and 13D transactions.
Extensive lending experience with both cash and securities. Highly active in margin lending (Regs T, U & X), including non-purpose loans; in addition to repurchase and reverse-repurchase transactions involving government bonds. Collateralized lending including: Residential Mortgages, Commercial Real Estate, Artworks, Aircraft, Sports Franchises (teams & stadiums) Limited Partnerships and Hedge Funds. Actively involved in unsecured lending.