Barcelona, Catalonia, Spain
Financial Director of a hospitality company in Barcelona. Its flagship, Two Schmucks, was ranked the #7 cocktail bar in the world in 2022 by “The World’s 50 Best Bars” (Perrier): - I came in to manage the company’s finances in June 2022, after its sales had almost doubled from 2021, with no clarity on profits or cash flow. It was being managed by the founder, whom the majority owners wanted to replace with another partner. - We found that everything was managed informally, little historical information was being tracked / reported, and that there were no forecasts. Immediate shutdown costs were approximately -€450,000, based on outstanding Accounts Payable and Taxes due. - We managed a constant cashflow-negative, near-bankruptcy situation from October 2022 as sales declined 75% from then to early 2025. - We sold 50% control to new partners in H1 2025, reducing the shutdown cost (now split) to shareholders from -€600,000 in October 2022 to -€150,000 in April 2025. I consider this aspect a success, but overall the project was a failure (with lessons learned).
Managed family investment office that included more than 5% of M&T Bank equity: - Reported to late M&T Chairman & CEO Robert G. Wilmers - Portfolio included US bank stocks and other equities, hedge funds, private equity, misc. - Met with funds held, evaluated performance, made recommendations whether to maintain - Evaluated new investments - International trust and tax domain issues - Cash management - Back office functions / contacts; accounting-like role (balance sheet, Δ in net worth) - Estate wrap-up
Head of Upstream Investment Analysis Department 2005-2007