Study Group: Investment Banking Experts (US)
Council Members in this Study Group: 408
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.
Contact Gerson Lehrman Group to survey or consult with members of this Study Group
Leading institutions connect with members of this Study Group through GLG
Leading Experts in this Study Group
- John Salomone
Managing Director
Structured Finance International, LLC
John Salomone is the Founder and Managing Director of Structured Finance International, Florida based boutique investment and merchant bank, specializing in all forms of asset and corporate finance, including equipment finance, trade and receivable finance,...
- Asok Chaudhuri
Principal
Heritage Capital Group, Inc.Asok Chaudhuri, PhD, is a Principal at Heritage Capital Group, a financial services firm offering investment banking & strategy consulting on a global basis. Prior, he worked for 26 years at CSX (largest railroad in Eastern US): parent, rail, intermodal,...
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.
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Not All Real Estate Is the Same - 4 Different Issues
November 9, 2009
Analysis by: John Salomone, Managing Director,Handling real estate loans will be a tough act | www.dallasnews.com
Real estate financing and refinancing poses 4 different levels of risk for lenders and owners, based on the project life cycle and its financing and overall structure. Broad statements about the looming problems are just that "broad statements" Real estate market participants must look at each transaction within the context of the 4 kinds of Real Estate Finance Structures, if they want to properly assess financing and refinancing values, issues and risk.
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August 18, 2008
Analysis by: John Salomone, Managing Director,Bank Debt Risk Rises as Writedowns, Losses Exceed $500 Billion | www.bloomberg.com
Write downs are not actual losses and a mark-to-market loss is not a cash loss. Widening spreads in the credit default market, although real, must be recognized for what they are; namely, market monetization of perceived risks compared to recent backwards looking asset and cash flow valuations. Recovery in the general credit market should produce non-cash reported earnings increases starting in 2009 and similar narrowing of the exact credit default spreads that widened recently.
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Deeper Analysis Required - Stability Likely
April 14, 2008
Analysis by: John Salomone, Managing Director,Hotels Most Vulnerable to Recession Scenario | nreionline.com
On the surface, statements seem valid and perhaps are for individual properties and new construction plans. The structured financings inside management contracts and leases provide relatively stable cash flow for the real property owners and lenders that are the underlying financiers of the hotel industry. Hotel management companies that are the "Names" on the hotel will suffer reduced net income, but flat or slightly shrinking GDP should not cause major hotel real estate defaults. There are even one or two new hotel "Names" entering the U.S. market.
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Still Room for (ATM) Cash Flow Buyers
March 17, 2008
Analysis by: John Salomone, Managing Director,ATMs and a changing biz model | www.greensheet.com
Right if you seek only Equity Returns from an ATM Portfolio, but timing is ripe for Fixed Income investors. All the warnings and diligence advice is right on the button, but if you are looking to replace minimal returns on a portion of your fixed income portfolio, a properly structured ATM buy can produce premium returns. Buying ATM's and their cash flow, just like all business transactions, reveal their true worth on the buy side of the transaction. A properly structured set of purchase terms manages and boxes the risks and ensures a proper return. ATM's for fixed income investors may just be the right time in the right place.
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Debt Meltdown - Understanding It - "Financial Mismatching" at the Core
August 10, 2007
Analysis by: John Salomone, Managing Director,Next victims of the credit squeeze | money.cnn.com
Financial Mismatching - Without understanding the funding connections among an individual sub-prime mortgage, the securitized bond issued with the mortgage as collateral, the hedge fund or managed money sourced to purchase the bond and the commercial paper issued to on-lend into the managed money fund, one cannot understand the crisis in the debt markets. At each stage along the structured finance trail, there exists fundamental funding mismatches overlooked by analysts and more tragically ignored by the managers that made these investments. The design flaws are so fundamental that any Finance 101 student would recognize them, but for the air of sophistication that shrouds connecting financial instruments that should not be connected. Strip away the layers of obfuscating financial alchemy and you find, in essence, managers purchasing and trading fundamentally illiquid CDO's using short term funds to arbitrage interest rate and risk differentials - and they got caught.
Members in this Study Group include these company types:
- Boutique Investment Bank
- Middle-Market Investment Bank
- Bulge-Bracket Investment Bank
Members in this Study Group often have these job titles:
- Managing Director
- Director
- Vice President
- Chief Executive Officer
- President
- Associate
- Principal
- Senior Vice President
- Analyst