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Study Group: Former C-level Executives in the Financial & Business Services Councils in Member Programs

Council Members in this Study Group: 436

This study group may include experts knowledgeable on commercial banking, retail banking, asset management, mortgages, consumer finance, exchanges, capital markets, transaction processing, credit cards, insurance, and business services.

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Leading Experts in this Study Group

Sanjay Bharwani, Founder & President, Risk Advisors Inc.Sanjay Bharwani

Founder & President
Risk Advisors Inc.
What is a GLG Scholar?|GLG Scholar denotes Council Members with a CouncilRank(SM) in the top 20%.

Sanjay Bharwani is the Founder and President of Risk Advisors, an Alternative Investments risk management consulting firm in New York. Prior to this, he was the Chief Information Officer at M. Safra & Companyulti-strategy hedge fund focused on global...

Dennis Sheehan, Consultant, Dennis SheehanDennis Sheehan

Consultant
Dennis Sheehan
What is a GLG Leader?|GLG Leaders are a separate tier of Council Members with a Council Rank in the top 5%. These GLG Member Program participants are eligible for ongoing, in-depth consultative relationships with GLG clients.

Dennis Sheehan is an independent consultant to the mortgage industry. Previously, he was Senior Managing Director for GMAC-RFC Europe Mortgage Banking until December, 2007. There he served as Chief Executive Officer for the start-up of mortgage conduit...

1 event(s)
Aron Miodownik, President, Cambrian Associates Aron Miodownik

President
Cambrian Associates
What is a GLG Leader?|GLG Leaders are a separate tier of Council Members with a Council Rank in the top 5%. These GLG Member Program participants are eligible for ongoing, in-depth consultative relationships with GLG clients.

Aron Miodownik is the Founder of Cambrian Associates, a New York-based advisory firm focusing on the intersection of the technology and financial markets. He has over 20 years of experience in the financial services industry specializing in sales, research,...

John McNamara

President and Founder
Fidelis Recovery Solutions, Inc.
What is a GLG Leader?|GLG Leaders are a separate tier of Council Members with a Council Rank in the top 5%. These GLG Member Program participants are eligible for ongoing, in-depth consultative relationships with GLG clients.

John McNamara is the President of Fidelis Recovery Solutions, an advisory firm offering customized solutions for debt buyers and original creditors; he founded the firm in 2006. Mr. McNamara is the former Chief Operating Officer of Asset Management Outsourcing...

David McCain

Partner
MPKA, LLC
What is a GLG Leader?|GLG Leaders are a separate tier of Council Members with a Council Rank in the top 5%. These GLG Member Program participants are eligible for ongoing, in-depth consultative relationships with GLG clients.

David McCain is a Partner of MPKA,LLC an advisor and consultant to the homebuilding industry and related financial institutions. Mr. McCain is a former Senior Executive of Lennar Corp., one of the nation's largest homebuilders. He last served as President...

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GLG NewsSM Analyses by this Study Group's Leading Experts(?)

Opinions and analyses expressed in GLG News are solely those of the author. See the Terms of Use for details.

Low Loan Loss Reserves at Banks Could Cause Problems Ahead

September 20, 2007

Analysis by:Raj Mehra, President & Founder,

E*Trade Hit By Mortgage Turmoil | online.wsj.com

Loan loss reserves at banks are at historic lows. At the same time, the credit cycle has turned viciously negative, particularly for mortgages. Banking regulators are likely to ratchet the pressure up on banks to raise their loss reserves. The most vulnerable are banks with outsized exposure to the mortgage lending business

Countrywide Spells Out Its Strategy to Manage Credit Market Crisis

September 10, 2007

Analysis by:Raj Mehra, President & Founder,

Countrywide Communicates Staff Reductions to Employees | online.wsj.com

Countywide's announcement late last Friday and Angelo Mozilo's letter to employees provide a unique window into CFC's strategy for addressing the impact of the credit crisis on its business. The letter provides details on the steps that CFC is taking to shelter itself from the fallout. Unfortunately, the strategy, while undoubtedly aggressive, may not be enough.

Writedowns of Retained Interests Could be Next Shoe to Drop for Subprime Lenders

September 5, 2007

Analysis by:Raj Mehra, President & Founder,

NovaStar to Slash Lending and Cut Jobs | www.nytimes.com

Retained interests from securitizations made up more than 75% of the shareholder's equity at NFI. Also, the company has elected to finance these securities. Demand, never very strong to begin with, has deteriorated severely in the last month. The company could be forced to recognize a sizeable writedown in its retained interests, which will reduce book value. Other lenders that have sizeable retained interest holdings include Countrywide Financial ('CFC') and Rescap Holdings (a subsidiary of GMAC).  

Thoughts on the impact on third quarter earnings from the crisis in subprime mortgages

August 27, 2007

Analysis by:Raj Mehra, President & Founder,

Bank Profits May Well Suffer, but Credit Crisis Hardly Leaves Them Defenseless | www.nytimes.com

Several banks will be closing their third quarter soon. The credit crisis intensified in the third quarter - what impact should we expect to see from the bankruptcies, plummeting market values, the virtual demise of the collateralized debt obligations market etc. - Some banks will write down goodwill related to acquisitions of mortgage companies, and book charges to earnings.  Market capitalization of typical subprime mortgage company is about a third of the book equity, so the impairment could be sizeable - The rating agency downgrades of residential and asset backed securities will cause some banks to write down the book value of their investment securities. For the banks that were also warehouse lenders for failed CDO deals, this charge could be significant

Some of the Red Flags to look out for

August 20, 2007

Analysis by:Raj Mehra, President & Founder,

How Missed Signs Contributed to a Mortgage Meltdown | www.nytimes.com

       The debacle in subprime bonds was side stepped by some investors. They were able to spot warning signs while others ignored or missed them. A lot of this information was in plain sight. Others could have found the same red flags, if only they knew what to look for

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Members in this Study Group include these company types:

  • Consulting Firm
  • Independent Consulting Firm

Members in this Study Group often have these job titles:

  • Principal
  • President
  • Director
  • Managing Director
  • Consultant
  • Owner
  • Board Member
  • Partner

Related Study Groups

Study Group Name No. Members
Former C-level Executives in Member Programs 2249
Former C-level Executives at Large Companies ($500M+ in Sales) Who Are in Member Programs 2542
CIOs, CTOs, and CISOs within past 2 years in GLG Member Programs 242
Credit Card Experts 792
Sub-Prime Lending Experts 590
Business Process Outsourcing Experts 1415
Subprime Mortgage Experts (US) 531
US P&C Insurance Pricing Trend Experts 1858

GLG Live Meetings with this Study Group's Leading Experts (?)

Upcoming Seminars

Leading Experts in Former C-level Executives in the Financial & Business Services Councils in Member Programs Study Group have not participated in any upcoming seminars.

View All GLG Live Meetings in Financial & Business Services

Teleconference: Residential Mortgages and Mortgage-Backed Securities in Europe (10:00 AM EST)

11/03/2009