ValueScope, Inc. is excited to announce that Tom McNulty joined the firm on April 27, 2020 as a Principal and Managing Director who will launch our Houston Office. Tom’s responsibilities include financial consulting, valuation analysis, transaction and dispute advisory, and expert testimony. In addition to serving as the Managing Director of the Houston office, Tom will assume the position of Energy Practice Leader.
Tom McNulty has 25 years of experience working across numerous industries as well as the entire energy value chain. He draws on a rare combination of industry, banking, consulting, and government experience to provide his clients with transaction, financial advisory, litigation, and valuation opinion services. Tom is a nationally recognized energy industry expert and is a frequent contributor on CNBC, Fox Business, and Bloomberg TV. In addition to his deep knowledge and experience in the energy industry, Tom is well respected for his expertise in derivatives pricing and valuation. As an advisor, and in his corporate career, Tom has delivered more than $52 billion in transaction, valuation, restructuring, and litigation projects, much of which is energy related. He has also advised on, or executed, $13 billion in M&A and principal investment deals, and executed or valued more than $14 billion notional in derivative instruments. His expert litigation work has included shareholder disputes, business valuation, derivatives and hedging, bankruptcy and restructuring matters, and economic damages assessments.
Tom holds the prestigious CQF (Certificate of Quantitative Finance) and FRM (Financial Risk Management) designations and received his BA from Yale University and MBA from Northwestern’s Kellogg School with various honors.
Mr. McNulty has delivered more than $52 billion in energy-related transaction, valuation, restructuring, and litigation projects. He has advised on, or executed, $13 billion in M&A and principal investment deals, and executed or valued more than $14 billion notional in derivative instruments. As a merchant banker, he helps management teams grow businesses through acquisitions. He provides introductions to private capital sources, including family offices, and advises clients on valuation, risk management, and transaction structuring issues.
Transaction Advisory Services: Mr. McNulty's corporate, banking, legal, and private capital clients benefit from his broad and deep Energy M&A Experience and Expertise. He delivers services customized to the transaction at hand. He and his team expertly provide appraisals and valuations that are essential for the financial reporting and taxation requirements that all transactions generate. All segments of the Energy Complex are covered.
Fairness Opinions and Solvency Opinions
Buy-side, Sell-side, and Merger advisory services
Deal Screening and Target Identification
Quality of Earnings analysis and reports
Market-sizing and commercial due diligence
Appraisal and Valuation
Operational, financial, and technical due diligence
Complex financial modeling
100-day operating plans
Valuation Services for GAAP Application and Taxation
Interim management (CEO/CFO/CRO/COO)
Transaction Support (“arms and legs”)
Commercial Analytics - Mr. McNulty works closely with energy clients to help them solve the business, competition, market, performance, and strategy challenges that they face in a rapidly changing global energy environment. Given the volatile nature of energy commodity businesses, he often helps his clients to implement Predictive Analytics and Probabilistic/Stochastic Modeling for their strategy and transaction work.
Feasibility Studies for Energy Capital Investments
Stochastic Analysis-Portfolio Optimization
Advanced Statistical Analysis for Project Evaluations
PHDWin analytics for investing, hedging, lending, and for M&A deals
Commodity Curve Development
Business Case Analysis
Market and Strategic Assessments
Red Team Studies
Predictive Analytics with @RISK
Background Experience - Mr. McNulty studied military and diplomatic history at Yale, where he was a varsity football letterman. Following graduation, he went to work on Wall Street with Brown Brothers Harriman and Co. (“BBH”), the nation’s oldest private bank. He was a Federal funds and Eurodollar trader, and also worked in the bank’s international treasury department. During his time with BBH he was selected for training in the elite US Foreign Service, and was commissioned a Foreign Service Officer in November 1990. Volunteering for critical threat postings, Mr. McNulty served tours of duty in Southeast Asia and in Russia. He was a Staff Officer at headquarters in Washington DC, where he worked on energy security issues. He left the Foreign Service to pursue his MBA at Northwestern University, where he studied Analytical Finance and Accounting.
Following business school, Mr. McNulty moved to Houston and worked with three Fortune 100 energy companies: Enron International, Duke Energy, and Plains All American. At all three companies he worked on the M&A teams and in Corporate Treasury. These roles involved transaction due diligence, strategic planning, corporate finance, risk management, and market analysis responsibilities. Mr. McNulty's career has also included substantial cross-border work in Asia, Europe, and in Latin America. His corporate experience, in particular, enhances his ability to advise clients with complex transaction, litigation, valuation, and business strategy challenges. More specifically, Mr. McNulty is an expert in treasury operations, post-merger integration, and value harvesting.
Mr. Campbell has over 30 years of financial industry experience. He is the principal of a financial litigation and investment management consulting firm, Kerry Campbell LLC, where he serves as a financial expert witness during litigations and provides consulting services to financial institutions and investors.
He has worked in investment research and portfolio construction, as a Managing Director at Arden Asset Management, and as a Senior Vice President at Guggenheim Partners. He has worked in prime broker risk management as a Managing Director at Bear Stearns. Prior to that he worked as a commissioned registered representative, a funding officer and as a credit analyst/loan officer.
He is an Approved FINRA Dispute Resolution Arbitrator, a Chartered Financial Analyst®, a CERTIFIED FINANCIAL PLANNER™, an Accredited Investment Fiduciary Analyst™ and a Securities Experts Roundtable Member. He has held the following licenses: Series 7 – General Securities Representative, Series 55 – Equity Trader Representative, Series 63 – New York Uniform Agent and Series 65 – Uniform Investment Advisor.
Daniel Reser has been a Corporate Fiduciary for corporate securities and reorganization transactions as well as Trustee and Custodian of Retirement Plans for over 25 years. Mr. Reser is considered a highly effective and capable trust fiduciary due to his legal training, his extensive experience as a fiduciary for corporate reorganizations and retirement plans as well as his reputation for ethical business practices and pragmatic management style.
Prior to his role at Fiduciary Services, Inc., he served as Vice President and Manager for Wilmington Trust based in Santa Monica, CA, also of Bank of America, and Security Pacific Bank. Mr. Reser also has a JD from Southern Methodist University. In 1989, he graduated from the UCLA John Anderson Graduate School of Management Executive Program. During his career, Mr. Reser has administered and managed a wide variety of Governmental, Corporate and Union Retirement Plans as plan trustee. His current role as principal of an investment advisory firm includes acting as Fiduciary for Company Stock in Retirement Plans including ESOPs.
Independent Fiduciary Consulting Transactions:
Mergers and Acquisitions
Restructuring of Capital and/or Debt of the Company
Leveraged, Un-Leveraged and Multi-Investor ESOP Buy-Outs
Fiduciary Roles and Responsibilities:
Determine Fair Market Value of a Company's Shares
Evaluate Transactions from a Financial Point of View
Advise the Fiduciary During Negotiations and Structuring of Transactions
Render Necessary Opinions of Fair Market Value and Fairness and Provide Suitable Documentation
Centennial Advisory Group is a boutique consulting firm specializing in Investment Management and Financial Services. They are a member of the Professional Association of Resume Writers and Career Coaches and hold the Certified Professional Resume Writer designation. Their goal is to enhance the career success and earnings potential of investment industry executives.
Career Path Advisory
Frank Carr is a Certified Professional Resume Writer, a former Hedge Fund Chief Financial Officer, a Corporate Banker and a 20-year executive search veteran for the Financial Services and Investment Management industries.
Mr. Carr has advised thousands of junior, mid-level and senior executives on how to position and maximize their careers within the financial world. With over 4,800 investment industry connections on Linked In, his reach throughout the financial services world is extensive. He has written articles for and has been frequently quoted by publications such as Bloomberg News, CNN Money, Fund Fire, Ignites, Absolute Return, Hedge Fund Alert, and Hedge Fund Manager Week.
Prior to forming Centennial, Mr. Carr had been a Managing Director in the Global Asset Management practice at A.T. Kearney Executive Search, a top 10 U.S. search firm. He began his search career at LAI Ward Howell which was later acquired by TMP Worldwide (owners of Monster.com).
Prior to entering executive search, Mr. Carr was Chief Financial Officer of a Connecticut-based equity long-short hedge fund. He managed investor relations, accounting and compliance, including registration with the Commodity Futures Trading Commission. Frank had spent eight years in commercial bank lending, initially with Citibank in their Wall Street Commodities division and later was a banker to the feature film and TV industries.
Barrington Capital Management, Inc. provides customized financial solutions for unique financial challenges and objectives. Their expertise is in the development, implementation and ongoing management of a customized and diversified investment strategy. Barrington's mission is to assist in building, enhancing, and protecting personal wealth and maintaining financial security.
President and Chief Executive Officer, Bob Lawson, has over 35 years of financial services experience as an Investment Advisory and Insurance Agency Executive, Securities Principal, and Options Principal. Bob proudly serves as an industry arbitrator for the Financial Industry Regulatory Authority (FINRA) and the National Futures Association (NFA), a Certified Fraud Examiner (CFE), ERISA (3)-21 Fiduciary, Master Registered Financial Consultant, and an Accredited Investment Fiduciary. In addition to teaching advanced investment strategies and Retirement Planning classes throughout the year.
Bob Lawson has special expertise in stock options and has presented the following Options Industry Council (OIC) seminars to retail and industry professionals throughout the United States:
In the securities brokerage industry, "selling-away" refers to the prohibited practice of an Associated Person effecting or soliciting the sale of securities or investment products not held or approved with whom the broker is affiliated without prior written consent. FINRA regulators have seen a steady flow of selling-away cases over the years involving registered representatives who are being targeted by issuers, promoters and marketing agents to sell their nontraditional investment products to their retail customers. In many instances, promoters of these products are marketing them as non-securities products that do not have to be sold through a broker-dealer by a registered person. In a significant number of cases, associated persons have sold these investments to their customers away from the broker-dealer and without firm approval as required by FINRA Rule 3270. Selling-away often occurs in an independent branch or a satellite office, where Associated Persons are removed from the day-to-day oversight and supervision of their brokerage firm's compliance department.
I receive phone calls throughout the year from attorneys who have taken on their first FINRA case and they frequently are unaware how the FINRA Dispute Resolution process differs from other venues. I thought it would be helpful to provide a quick overview for new participants and a refresher for those more experienced securities attorneys on how the FINRA Arbitration and Mediation process works.
In FINRA-related cases many attorneys see discovery requests objected to by opposing counsel. Typically, opposing counsel objects to discovery requests citing that items requested are either "overly broad, vague, or ambiguous", or "impermissible per FINRA's Code of Arbitration Procedure". However, despite opposing counsel's reasoning, many objections to discovery requests are irrelevant and do not hold up in regard to FINRA's Code of Arbitration Procedure. Attorneys should not be intimidated or discouraged by these objections, but rather should understand that FINRA's guidelines concerning arbitration allow for most applicable and reasonably obtainable discovery information to be delivered.
MCS Associates is a nationally recognized consulting group that has provided financial, operations and regulatory/compliance consulting services nationwide to financial institutions, insurance companies and regulatory agencies as well as real estate and financial services organizations for over 40 years. Expert Witness and Litigation Consulting are a primary focus of our services. We undertake expert witness assignments throughout the United States and our clients include several hundred leading law firms around the country, working on behalf of both plaintiff and defendant financial institutions, borrowers, depositors, investors, developers, insurance companies and their insured, securities/insurance/real estate brokers/agents, regulators and government agencies, and individuals.
Together with MCS Associates’ specialized resources in banking, financial services and real estate, we also draw on key strategic alliances in insurance, economics, academia and the securities industry to meet a wide range of expert witness needs. Our litigation experts include experienced bankers, lenders, consultants, regulators, managers, brokers & agents in insurance, real estate, and securities; insurance claims and underwriting managers; economists, accountants, appraisers, real estate analysts, and academics.