Paul brings more than 40 years of diverse M&A, finance, capital markets, and operational experience; from large public companies to closely-held small and medium size entities, he has served as CFO, COO, CEO, Vice-President, or consultant.
A summary of highlights from his background includes:
- Vice-President & Lead Business Analyst with JP Morgan Chase Bank, N.A., as a key team member on the JPM corporate integration team which he joined during the BankOne merger in mid-2004; and in the 2007 purchase of all domestic commercial and retail banking operations of the Bank of New York by JPM; the acquisition of Bear Stearns, Inc. in March 2008; and the purchase of Washington Mutual Inc. from the FDIC in August 2008, which resulted in JPMorgan Chase & Co. becoming the largest domestic U.S. money-center bank. In his six years as Vice President & Senior/Lead Business Analyst with JPM, he led the IT integration teams (up to 900 team members from all LOB's within JPM) through the conversion of a myriad of disjointed systems within the firm, to a single national domestic platform for deposits, commercial loans, credit cards, and mortgages, that transformed the cost structures of 17 Lines of Business, and unified JPM's client base across the U.S. Paul also had a short assignment with JPM's International Operations HQ in Bournemouth, UK, to assemble the Business Requirements Documentation for the selection of a new international DDA vendor, and conversion of over 40 international JPM offices globally to a single international DDA and CIF platform with highly complex currency conversion requirements.
- After JPM's M&A and integration activities were completed (by year end 2009), Paul changed his focus to the community banking sector, and joined a 30-year financial services consulting firm as COO and Managing Partner of Southport Advisory Services. Over the past 5 years, Paul has provided M&A acquisition analysis, and non-performing asset valuation and management consulting services for community banks and financial institutions, including Portfolio Valuation, Non-Performing Asset Sales/Acquisitions, Capital Re-Structuring, Capital Raises, whole bank and A/B bank M&A transactions for clients across the U.S. with primary focus on California, Texas, Florida, Illinois, Michigan, Ohio, Virginia. Maryland, Pennsylvania, New York, New Jersey, and Connecticut.
- Paul also has broad experience in healthcare IT, and health insurance services, provider networks, and healthcare delivery facilities; he has served as CFO of two very dynamic growth healthcare IT businesses (HQ's in South Florida, and in Tulsa, Oklahoma) where he raised over $35+ Million for each firm in new equity growth capital through private placements with Accredited Investors, Strategic Partners, and PE firms. By making several acquisitions of strategic businesses as CFO & EVP, he grew each company's footprint and product offerings dramatically within a 2 year timeframe, leading to an NASDAQ/NMS listing and PIPE funding by SwissRe (Zurich, CH) in the first case, and a $75 Million private placement funding offer with a major U.S. bank in the second .
- As a Principal in the Morgan Investment Group, for just over 10 years, Paul was responsible for providing the acquisition and growth funding of many businesses across the U.S. including firms specialized in aerospace composite structures, CNC machining & components manufacturers; he also was engaged by a major commercial real estate developer to work with them on a JV with Walmart/CIFRA in their early expansion into Mexico to secure "power center" sites for the exponential growth of the joint venture throughout major cities in Mexico; other client engagements were with freight forwarding/TL trucking firms, specialized fertilizer distribution in the Midwest, and self-storage & warehousing companies. In virtually all of these engagements, Paul had direct hands-on responsibility for arranging senior debt funding, mezzanine funding, multiple classes of common and preferred stock offerings through private, and public offerings which resulted in listings on the NASDAQ NMS, American Stock Exchange, and NYSE. The total value of capital markets funding and financing for client companies that Paul raised during this time was in excess of $2 Billion with investors based in the U.S., Canada, Mexico, Western Europe, and the Pacific Rim.
Sample Case Study
From mid-1998 until the end of 2001, Paul served as Executive Vice-President, Chief Financial Officer & Corporate Secretary for eHDL, Inc., a Healthcare Information Technology business based in Miramar, FL, for Transaction Processing, Electronic Claims Administrative Systems, IT Outsourcing, Provider Network Management & Credentialing, and Real-time Healthcare Data Delivery.
- Responsibilities included preparation of financial statements and reporting consistent with GAAP, FASB and SEC accounting standards and oversight of investment bankers, auditors, financial advisors and corporate counsel.
- Teamed with CEO for all "road shows" to Venture Capital & PE firms, strategic partners, and investment bankers, and maintained commercial and investment banking relationships to meet the company's operating capital, growth capital for acquisitions, and cap-ex needs.
- Prepared and reviewed documentation for private equity placements with inside and outside counsel for financing with accredited investors (private and institutional) for $24 Million to newly formed holding corporation and acquired 3 strategic businesses within 18 months
- Established two strategic investor partnerships with Top 10 U.S. Banks and part of directing corporate merger and acquisition activities. Provided the financial analysis to evaluate acquisitions, ventures and capital expenditures; and implemented creative financing structures and alternatives to traditional bank funding which resulted in a $75 Million Private Placement funding offer in April 2000.
- Provided analysis of financial results, business plans and forecasts to investors, senior management, and the Board of Directors; and functioned as a key Member of Executive Committee, Finance Committee, Compensation Committee
- Recommended and took appropriate actions to ensure that financial forecasts reflected a sound position from an operating, marketing and financial standpoint.
- Directed new systems implementation and IT integration of 5 operating units; Managed, motivated and directed a financial team in the creation of all appropriate financial capabilities including cash management (treasury functions), accounting, accounts receivable, financial reporting, profitability analysis, risk management, taxation, planning and budgeting.
Small Business Credentials
For over 30 years, Paul has worked for small and medium size entities to help them improve cash flow and operating income, restructure their operations, and re-engineer key processes. Paul has helped these organizations refinance long-term debt, establish leasing and business lines of credit, implement process improvements, implement new operational and accounting software, improve timing and accuracy of month-end end and year-end closings, and to improve relationship with boards, audit committees, external auditors, bankers and other key stakeholders. Paul is highly experienced with accounting and internal controls in diverse and complex regulatory environments.
Paul has a passion for mergers & acquisitions, process improvement and IT systems integration, strategic planning, capital formation, and team/company building. He has helped many small, medium and large companies as a C-level executive in the most needed role, and as an advisory expert and is equally comfortable in both internal and external roles.
Paul's experience with financial, accounting, banking, and database software ranges from large ERP systems (e.g. SAP, Hyperion, and Oracle Financials) to small business software such as QuickBooks Pro, QuickBooks Online, and Intuit Payroll.
Personal and Life Information
Paul has enjoyed living in the South Florida area since 2000, and previously lived in Tulsa, Oklahoma for almost 15 years, after moving to the U.S. from Vancouver, B.C. Paul and his wife of more than 40 years, Willie, are both from the Prairies in Western Canada (Saskatchewan & Manitoba), and have always been active in their churches and local communities. Paul has held positions of leadership at his church and other non-profit organizations, and has served in the past as board member, Secretary, and Treasurer for various not-for-profits. They have two sons, Shane (married to Allison) & Scot, who both currently work in Texas (San Antonio & North Dallas). Paul is a licensed Private Pilot, and is an avid car & motorcycle enthusiast.