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Michael K. Smith

PROFESSIONAL BRIEF
Michael Smith is a highly experienced Financial Services Executive and Finance Professional with over 40 years dedicated to high-end client representation and large-scale regional management.

As Managing Director and as Regional Manager since 1997, Michael was responsible for all aspects of the securities and banking activities within the Midwest region for three major firms:  Lehman Brothers, Barclays Wealth and Citi Private Bank.

From 1982 to 1997, Michael was a dedicated Top Producer accustomed to results-based rewards for services provided to Morgan Stanley’s ultra high net worth clients (UHNW).  He specialized in developing and executing solutions to meet complex financial objectives.  This period was highlighted by providing substantial agency, principal and fiduciary related transactional and investment management business for top-tier clients with $25MM - $10B net worth.

                             Details Provided Below


ARBITRATION
Michael is a Registered Arbitrator with key industry self regulatory bodies.

    •    FINRA Non-Public Arbitrator
    •    NFA Arbitrator


 

MANAGERIAL HIGHLIGHTS
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.   

 

AUDIT COMPLIANCE
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

 


FINANCIAL METRICS
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

Equities
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.

Fixed Income
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.

Mutual Funds
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

Investment Management
Actively involved in servicing and supervision of descretionary fee based investment portfolios.  Cutomized portfolios using assest allocation models and investment manager selection.

Options 
Naked put writing, covered call writing, spreads, hedging, speculative put / call purchases, and leaps.

Futures  
Active and sizable trades in S&P Futures, Treasury Bond Futures, Metals and Agricultural Futures.

Structured Products 
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.

Lending 
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.