SFIG Announces New Board of Directors

The fledgling US securitization industry group known as the Structure Finance Industry Group, Inc. or “SFIG” announced the results of its recent board elections earlier this week.

Formed earlier this year, SFIG is attempting to right many of the mistakes that many in the industry feel the American Securitization Forum or “ASF” has made over the years.  Importantly, it seems fairly clear that the chief executive of SFIG, Richard Johns, will be fully accountable to the new Board of Directors and therefore by extension, to the membership of the SFIG.  Apparently, this wasn’t always as clear at the ASF.  Officers of the new Board include some well-known industry veterans, Reggie Imamura of PNC Financial Services Group, Christopher Haas of Bank of America Merrill Lynch,  Jordan Schwartz of Cadwalader, Wickersham & Taft LLP and Gregg Silver of 1st Financial Bank USA.

SFIG has gotten off to a fast start with a competing industry conference planned for early next year in Las Vegas and they been active in several regulatory and legislative initiatives over the last several months.  It will be interesting to see how the two trade organizations compete for the affections of the same constituents.  One gap that we have noted in ASF’s strategy over the past several years was a tendency to cater too easily to the larger and more established members and industry participants, often at the expense of the more grass-roots, organic and entrepreneurial segments of the industry.  Going back to the earliest days of the ASF, it was the most creative parts of the industry that disproportionately fueled its rapid growth and thereby the success of the trade group.  Although the current leadership of the SFIG board is made up of many of the same industry leaders, one would hope that as the recovery of the markets continues, more attention will be paid to new ideas and new strategies on a variety of fronts.

Here’s a full list of the new SFIG Board of Directors:

— Chair: Reggie Imamura, PNC Financial Services Group

— Deputy Chair: Christopher Haas, Bank of America Merrill Lynch

— Secretary: Jordan Schwartz, Cadwalader, Wickersham & Taft LLP

— Treasurer: Gregg Silver, 1st Financial Bank USA

Executive Committee

— Tom Davidson, GE Capital

— Howard Kaplan, Deloitte & Touche LLP

— Valerie Kay, Morgan Stanley

— Samuel Smith, Ford Motor Company

— Kevin Sweeney, Discover Financial Services

Board Members

— Jim Ahern, Societe Generale (AFME member)

— John Arnholz, Bingham McCutchen LLP

— Bob Behal, Vanguard

— Allan Berliant, GMO LLC

— Andy Berman, Fortress Investment Group LLC

— Christopher DiAngelo, Katten Muchin Rosenmann LLP

— Sean Dobson, Amherst Securities Group, LP

— Dave Duzyk, JPMorgan Chase & Co.

— Pat Evans, Wilmington Trust Company

— Bill Felts, Citigroup, Inc.

— Lisa Filomia, Ernst & Young LLP

— Tom Finke, Babson Capital Management LLC

— Steven Grundleger, Ocwen Financial Corporation

— Tricia Hazelwood, Mitsubishi UFJ Financial Group, Inc.

— Jay Kim, Credit Suisse Group AG

— Jason Kravitt, Mayer Brown

— Gary Horbacz, Prudential Investment Management

— Steve Kudenholdt, Dentons

— Pia McCusker, State Street Global Advisors

— Claire Mezzanotte, DBRS Inc.

— Tim Mohan, Chapman and Cutler LLP

— William Moliski, Redwood Trust, Inc.

— Doug Murray, Fitch Ratings

— Ned Myers, Lewtan

— Christopher Pink, Wells Fargo Bank N.A.

— Saul Sanders, Shellpoint Partners LLC

— Brad Schwartz, Blue Mountain Capital Management LLC

— Faith Schwartz, CoreLogic

— Susan Sheffield, General Motors Financial Company, Inc.

— Diane Wold, Two Harbors Investment Corp.

About markferraris
Managing Principal Orchard Street Partners LLC

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