Corp America July

CORP

JUly 2016

AMERICA

ANN KAYMAN

THE BUSINESS ELITE CEO OF THE YEAR - NEW YORK Forming The New York Grant Company in 2002, Ann shares her success behind the company and what makes her a visionary in business.

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RISE IN US EXISTING HOME SALES Existing-Home Sales Ascend Again, as First-Time Buyers Provide Spark.

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PAYPAL AND VISA

42 ENTER PARTNERSHIP Companies Collaborate to Accelerate the Adoption of Digital Payments.

ISACA CHALLENGES

38 MOBILE PAYMENT SECURITY PERCEPTIONS

New Guide Shows Mobile Security Advantages over Traditional Payment Methods.

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REPUBLIC SERVICES

50 AND MAS ENERGY

UNVEIL LATEST RENEWABLE ENERGY PROJECT Facilities Capable of Powering over 15,000 Households.

www.corporateamerica-news.com

EDITOR'S NOTE Welcome to the July 2016 edition of Corporate America Magazine.

Picking up on trends in the world’s largest economy is no enviable task. Nonetheless, it is the one that we are obliged to explore. In doing so, we might be tempted to describe the American economy to be a multi-faceted, ever-changing ecosystem.

That would be an understatement. In reality, it has grown to take on a life of its own.

Whether it is the cheese factories of Tillamook County, Oregon, the prestigious South Florida car showrooms of the Warren Henry Group, or the pioneering role of Atomic Data & the Foundation in outsourcing essential IT services on the Cloud, there is always a deal to be done.

Covering such a vast range of industries, and cataloguing the changes that they represent in the fluctuating economy, is our goal here at Corporate America, and we are proud to have been working alongside some of the leading voices in their industries.

We hope that you enjoy reading this issue.

George Millar Contact Corporate America at: george.millar@ai-globalmedia.com 212 618 1855

CONTENTS

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THE BUSINESS ELITE CEO OF THE YEAR -NEW YORK

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ISACA CHALLENGES MOBILE PAYMENT SECURITY PERCEPTIONS

ANN KAYMAN

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CEO 100 – MINNESOTA JIM WOLFORD

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NUANCE TO ACQUIRE TOUCHCOMMERCE, ACCELERATE GROWTH OF ENTERPRISE BUSINESS

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HEDGE FUND MANAGER OF THE YEAR– CALIFORNIA

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PAYPAL AND VISA ENTER PARTNERSHIP TO EXTEND CONSUMER PAYMENT CHOICE

AMERICAFIRST CAPITAL MANAGEMENT

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CEO 100 - NORTH CAROLINA KEITH EADES

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PNC BANK’S “TINY BRANCH” DEBUTS IN MORGANTOWN

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EXPERT WITNESS OF THE YEAR - CALIFORNIA

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QUVA PHARMA ACQUIRES BIOTECH PHARMACEUTICAL FACILITY IN NEW JERSEY REALTYMOGUL.COM CLOSES ANOTHER $8.49 MILLION IN TRANSACTIONS

KAYCEA T CAMPBELL

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CEO 100 - GENE SAUNDERS PROJECT LIFESAVER

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2016’S MOST INNOVATIVE HEDGE FUND MANAGER: USA/EUROPE

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REPUBLIC SERVICES AND MAS ENERGY UNVEIL LATEST RENEWABLE ENERGY PROJECT

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RISE IN US EXISTING HOME SALES

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CFOS NEED TO BECOME ‘DIGITAL PIONEERS’ TO ELEVATE THEIR POSITION AND LEAD BUSINESS CHANGE

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CEO 100 - LISTINGS

DENNIS KLEMMING

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TURNAROUND AND CORPORATE RENEWAL

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BEST ERP SYSTEM IMPLEMENTATION CONSULTANTS

SURPLUS ASSET MANAGEMENT (SAM AUCTIONS)

PROFESSIONAL PLUS SOLUTIONS

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THE BUSINESS ELITE - CFO OF THE YEAR – OREGON

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THE BUSINESS ELITE - CFO OF THE YEAR - FLORIDA

TILLAMOOK COUNTY CREAMERY ASSOCIATION

WARREN HENRY AUTOMOTIVE GROUP

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CORP NEWS

ON SEMICONDUCTOR EXTENDS TENDER OFFER TO ACQUIRE FAIRCHILD Extension of Tender Offer Pursuant to Previously Executed Merger Agreement ON Semiconductor Corporation has announced that it has extended its previously announced tender offer to purchase all of the outstanding shares of common stock of Fairchild Semiconductor International Inc. (Nasdaq: FCS) (“Fairchild”) for $20.00 per share in cash (the “Offer”) pending the satisfaction of the conditions to the Offer set forth in the merger agreement entered into on November 18, 2015 between ON Semiconductor and Fairchild.

The Offer will now expire one minute following 11:59 p.m., New York City time, on August 4, 2016, unless further extended as required or permitted by

the merger agreement. All other terms and conditions of the Offer remain unchanged. Computershare Trust Company, N.A., the depositary for the Offer, has advised ON Semiconductor that as of the close of business, New York City time on July 21, 2016, approximately 60,947,806 shares of common stock of Fairchild (not including 6,336,913 shares tendered by notice of guaranteed delivery for which shares have not yet been delivered) have been validly tendered and not properly withdrawn pursuant to the Offer, representing approximately 53.1% of the outstanding shares of common stock of Fairchild.

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Pending satisfaction of the conditions to the Offer, the merger agreement requires successive 10-business day extensions of the Offer, and ON Semiconductor currently intends to continue making such successive extensions, subject to the other terms and conditions of the merger agreement. This press release is being issued under applicable securities laws in order to notify Fairchild’s stockholders of the extension.

CORP NEWS

OPUS BANK ANNOUNCES EXPANSION OF ITS MERCHANT BANKING TEAM Raed Alfayoumi Appointed Managing Director, Head of Financial Sponsors Group Opus Bank has announced that Raed Alfayoumi has been appointed as Managing Director – Head of the Financial Sponsors Group, a new and synergistic focus within Opus’ Merchant Banking division.

Mr. Alfayoumi, a 24-year banking veteran, and already a proven leader at Opus, is responsible for developing and maintaining relationships and providing the capital funding, tailored solutions, and strategic advice necessary to maximize value and achieve successful outcomes for middlemarket private equity firms and sponsorbacked portfolio companies.

Dale Cheney, Senior Managing Director, Head of the Merchant Banking division, stated, “We are enthusiastic to welcome Raed to lead this important sponsor

coverage focus for the Merchant Banking Division. Our one-stop principal investing and advisory model is complimentary to financial sponsor clients as they focus on adding value to portfolio companies through equity co-investment, debt financing, M&A, and other strategic initiatives provided by the Merchant Banking Division. Raed’s successful experience of working with private equity funds and portfolio companies will enable us to be a more effective strategic partner to our existing broad base of financial sponsor clients and relationships.”

Mr. Alfayoumi joined Opus earlier this year in January 2016 as Managing Director, Technology Banking. From 2012 to 2015, Mr. Alfayoumi served as Senior Relationship Manager, Director within the Technology, Media, and Telecommunications Group of

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MUFG Union Bank. From 2011 to 2012, Mr. Alfayoumi served as Global Relationship Manager, Vice President of the Corporate Banking Group at HSBC Bank USA. From 2006 to 2011, Mr. Alfayoumi served as Senior Portfolio Manager, Vice President – Debt Capital Markets within the Technology Group of KeyBank. From 2004 to 2006, Mr. Alfayoumi served as Vice President within the Technology and Life Sciences Division of Comerica Bank. From 2000 to 2004, Mr. Alfayoumi served as Vice President within the Global Telecommunications Group of ABN AMRO Bank. Earlier in his career, Mr. Alfayoumi served in banking and finance roles at Silicon Valley Bank, BNP Paribas, Sumitomo Bank, and Union Bank.

Mr. Alfayoumi holds a B.S. in Business Administration from the University of Montana.

CORP NEWS

TII COMPLETES ADD-ON ACQUISITION OF JONES An Affiliate of Transport Holdings, LLC a Portfolio Company of Revelstoke Capital Partners LLC (“Revelstoke”), a Denver-Based Private Equity Firm, Has Completed the Acquisition of Jones Motor Group, Inc. And Its Affiliated Companies.

Based in Limerick, PA, Jones is an asset-light transportation and logistics company with a diversified freight profile that includes flatbed, heavy-haul, dry van, refrigerated, as well as LTL. Jones is the oldest common carrier in the U.S., with operations dating back to 1894.

The combination of TII and Jones will create a leader in the industry with over $350 million in revenue and approximately 350 agents and 1,400 owner-operators handling approximately 170,000 loads, annually.

“In addition to greater scale and capabilities, Jones will further expand our services across end-markets and freight types,” said Douglas McAdams, President, CEO and Co-Founder of TII. “Jones has developed a strong reputation in the industry and is an excellent fit with the TII family of companies. Ken Lacey, formerly the Senior Vice President, and has been with Jones for over 20 years has been appointed President of the Jones division within TII. James Koegel, formerly the President of Jones, will assume the role of Chairman of the Jones division within TII. We are pleased to have Ken and James join our team and look forward to continuing to provide high quality service to our agents, owner-operators and customers.”

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With this investment, Revelstoke has now completed 22 acquisitions totaling over $1 billion in enterprise value since the firm’s inception in 2013.

Winston & Strawn LLP acted as legal advisor and The Clarendon Group II, LLC acted as financial advisor to TII in the transactions. Drinker Biddle & Reath LLP acted as legal advisor to Jones.

CORP NEWS

TODD MARSHALL JOINS PATTERSON COMPANIES AS CHIEF MARKETING AND DIGITAL OFFICER Consumer Marketing Veteran Will Drive Innovation in the Overall Patterson Customer Experience Patterson Companies, Inc. has announced that Todd Marshall will join the organization as chief marketing and digital officer. As a member of the company’s executive team, Marshall will play a role in shaping corporate strategy and will be responsible for overseeing the company’s marketing strategy, business intelligence and customer experience, including its industry-leading technology support center.

“As we continue to grow and find new opportunities for Patterson, we recognized the importance of establishing a senior marketing executive role to expand our capabilities around the customer experience, including e-commerce and digital marketing,” said Scott Anderson, chairman, president and chief executive officer of Patterson Companies. “Todd is an exceptional, innovative leader with a track record of success in using insights and analytics to drive marketing and customer experience strategies.”

Marshall’s background includes serving as a management consultant with McKinsey & Company before moving into a variety of leadership roles with Target Corporation throughout his 14-year career there. In his most recent role, he was a senior vice president of marketing at Target, responsible for driving customer-centric strategies through insights and analytics, strengthening the company’s loyalty marketing strategies and building a multiyear technology roadmap.

“Patterson has been a pioneer in bringing advanced solutions to dental and animal health professionals, and I’m confident that leveraging

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insights, analytics and effective marketing strategies will allow us to deliver a world-class integrated end-to-end customer experience,” said Marshall.

FEATURE

CHARLES CLOWDIS: REACHING FOR THE SKY The New York Grant Company, an award-winning woman-owned, private consulting business founded in 2002 and specialized in helping businesses, not-forprofits, and entire communities obtain grants and other economic incentives primarily from government.

Ann Kayman, CEO, has been at the helm since the company’s inception 14 years ago.

“As CEO, owner, and founder of the company, I am responsible for overall leadership, vision, and management,” she begins. “I determine and guide the company’s direction and serve as the primary voice and face of the business.

“Our niche is highly specialized. Not a lot of people do what we do. As such, our business by its own nature is highly innovative: we navigate the maze of economic incentives available to forprofit and not-for-profit enterprises. These include grants, tax breaks, energy discounts and rebates, loans, and other forms of benefits designed to stimulate economic growth. We navigate federal, state, county, and local programs, bundling these wherever possible to maximize our clients’ rewards while minimizing their hassle.

We handle the process of winning these awards from beginning to end -- from initial research and pre-screening, collection of documents and data, preparation of applications, negotiation of awards contracts, and compliance with ongoing program reporting and requirements to keep benefits flowing. The better we are able to master each step, and the more programs we are able to master in every jurisdiction, the more successful and valuable we become as a service to our clients and as a business overall.”

The firm is small and Ann works hand-inhand with her staff daily matters, as well as handling important client assignments, serving on various Boards and working committees as part of the company’s public role, and making critical decisions for the company, including financial decisions, significant hiring and HR decisions, matters of compensation, and public relations.

Company: Clowdis Name: Charles W. Clowdis Jr: Logistics Cost Specialist, Transportation Management Consultant Address: 2320 Clifftops Avenue Post Office Box 1178 Monteagle, TN 37356 Phone: 931.927.7280 Fax: 931.924.7279 Mobile/Cell: 704.578.4066 E-mail: chuckclowdis@aol.com

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“Over time, as we have evolved and matured, I have been able to delegate more and more responsibilities to my executive team and managers. I took on the role of CEO from day one and I aspired to be an entrepreneur when I started the business - I am still learning and growing to this day.”

Ann began her career in 1985 as a lawyer in New York City, working for a mid-sized international boutique law firm which represented primarily Japanese companies entering the US market. She worked as a commercial litigator - the only female litigator in the New York office for many

FEATURE

years, before moving to another firm in the City, again practicing corporate litigation for large, primarily international clients.

“It was great, challenging work,” she enthuses. “I learned a lot and got to work alongside some of the best minds in the country. In 1998, I was invited to serve in the administration of Mayor Rudolph Giuliani as Senior VP for economic development at the NYC Economic Development Corporation. My job was to recruit businesses to the City from all around the world, and it was both an honor and a labor of love. After 9/11, I worked at NYCEDC to help direct aid to more than 20,000 businesses affected by the terrorist attacks on the World Trade Center. In 2002, I left public service to forge my own path as an entrepreneur, while staying closely tied to the world of economic development, working this time on the client side. So in a way, my role as advocate came full circle.” Today, Ann’s work integrates all of her professional experiences - as lawyer, activist, advocate, and economic developer.

As CEO, Ann manages her staff in terms of providing direction, vision, and guidance without micro-managing. “I troubleshoot issues as they arise. I also manage some key client relationships and keep ‘my hands dirty’ by handling actual files, although the vast majority of our client matters are handled directly by my team.”

Ann describes her team as outstanding, and claims they make it possible to handle a great volume of work with exceptional skill and client service. “We have key principles, these being: 1) The client comes first. 2) The team is everything in terms of doing our work. We honour, support, and respect each other in all that we do. 3) We stay hungry and curious. We are constantly learning and adapting. 4) We grow organically and strategically at every step. 5) We take joy in what we do.

6) We maintain a good sense of humour and humility, not taking ourselves or anyone else too seriously!”

As can be expected, there were countless bumps along the way, but Ann can now appreciate these as rites of passage. “Even now, 14 years later, I am still learning, making mistakes, changing course upon lessons learned, and searching for that damn manual! (Note to self: write entrepreneurial manual.)”

Ann states her key strengths are her drive and her passion. “When I take on a task, I want to achieve the best results possible, to excel for the client, for my team, and for myself, and to prove that I am up to the job at all costs!” This kind of determination often requires dauntless energy, zeal, and stick-to-it-ness. “It’s a fire in the belly that’s hard to describe,” she ponders. “I am also patient and loyal, and I totally get that as much as I think I know, there’s so much more that I don’t. A good sense of humour is also important for me. It keeps me grounded and sane, plus it makes life a lot more fun!”

As well as a good sense of humour, it is crucial for Ann to have a breadth and depth of understanding in her field, and it comes in very handy when meeting prospects and generating new business. She always has our eyes out on competitors and keeps a database of them just to keep tabs and assess where her firm is relative to any competition.

“As Guy Kawasaki advises, I “eat like a bird,” consuming as much information and gathering as much market intelligence as I can on a constant basis,” says Ann. “This includes intelligence on the market and the economy in general, down to specific projects, such as developments in Long Island City and movements of particular clients.”

Ann stays motivated by constantly learning new things and taking on bigger tasks with greater challenges. “We set the bar higher

For Ann to dive off the proverbial cliff and become an entrepreneur at the ripe age of 42 was a big deal. “I had no clue what to expect, and there was no manual to follow!” she laughs. “I had to take it on faith that I would be able to make it work, and every six months when I would look back over my shoulder, I would think, “Hey, I guess it’s working so far!”

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for ourselves every year, and the drive to get there acts as a strong motivator. We can do it!”

She is also highly motivated by the people around her particularly her staff who she states are highly professional. “We surround ourselves with enlightened and inspiring mentors, many of whom I have known since the early days of my career.

Our clients are also strong motivators, because they set challenges for us on a daily basis and entrust in us such great work that we have to meet and exceed expectations at all times.”

Despite her overwhelming success to date, Ann still firmly believes she has at least two or three careers ahead of her. “I want to write books and teach. I will continue to mentor young people, entrepreneurs, and women. I will continue to serve my community and pay it forward. I am also striving to build up capacity among my team to take over the work and leave a legacy. I see this as highly doable, and at this phase of life, one of my biggest jobs is empowering others.”

And Ann’s final pearls of wisdom to ensure better sales revenue and continued success?

“Practice, practice, practice!

“Learn through doing in terms of vetting prospects, setting fees, negotiating contracts. Learn my true value proposition and be able to sell it with great enthusiasm and confidence. Take on more services and more complex assignments with higher fees attached.

“Keep clients forever! This was a huge and driving principle and philosophy of my first law firm - a reflection of Japanese culture - and it has stayed with me indelibly to this day as an abiding business principle.”

FEATURE

CEO 100 – MINNESOTA

JIM WOLFORD

®

Company: Atomic Data Email: Info@AtomicData.com Phone: 001 612.466.2000 or 1.800.285.5179 Web Address: www.atomicdata.com Address: Atomic Data North Loop, 615 North 3rd Street Minneapolis, MN 55401

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Company: The Foundation Email: info@fndtn.com Phone: 612.465.0700 Web Address: www.fndtn.com Address: 807 Broadway Street NE, Suite 285, Minneapolis, MN 55413

FEATURE

Based out of the North Loop and Northeast Minneapolis, Atomic Data and its sister company The Foundation are, first and foremost, IT services firms. Having each been in business for 16 years, their firm understanding of everchanging computing technology has led them to touch virtually everything in the corporate IT environment; they manage a client’s helpdesk all the way to the Cloud and everything in-between; they are also involved in creating custom software and web applications as a complement to their extensive IT services.

In 2002, companies still had to spend a considerable amount of money, and maintain a considerable level of in-house IT talent to accomplish what one person can do today in what we know as the Cloud. CEO and cofounder Jim Wolford started Atomic Data with the idea in mind that he would build out the infrastructure of the data centre, wrap it with 24-7 support, and help companies utilise new technologies without them having to spend an inordinate amount of money.

As CEO, Jim still holds the responsibilities of the Director of Operations, as well as those of the CFO. “As such, I still manage the executives as well as the daily operations and the financial picture of the company.”

Detailing his firm’s position in the wider, competitive market, he says, “We find ourselves in the unique position that our competition generally does one thing, whereas we do that in addition to 14 other things – these 15 things are within what we consider to be the remit of an IT services provider.

“We service everything from a small tenperson law firm, to professional services organisations, and even all the way up to a Fortune 500 or Fortune 100 company; generally, we service clients that place heavy reliance upon using IT. Most of our clientele are U.S.-based companies that have a global reach. Even our smaller firms, the ones with less than 100 employees, are multi-location. Many of our clients have to be able to compute on a daily basis as an integral part of their business, so transferring data should not and cannot be an issue in doing so.”

The international reach of his clients is a challenge that Jim comfortably incorporates into his company’s attitude towards data transfer.

“We have clients including the American Refugee Committee, who are spread across 40 countries, and we have the job of constantly processing all sorts of financial requests for them, from their field offices back to

corporate headquarters. We’re also constantly taking helpdesk calls from their field agents, regarding a variety of incidents – these calls need an immediate response, and we need to be on hand to tackle those as they come. In so doing, we have gained enormous experience in dealing with demanding clients that have that sort of urgent, around-the-clock need that has to be fulfilled.

“In a similar vein, we also have contracts with insurance companies that have agents spread out across the world, so we are seeing a constant stream of data being uploaded 24 hours a day. The fact that our clients have agents across multiple time zones means that their financial picture is based on a network that runs on a 24-hour cycle; because of that, our business model likewise has to revolve around this daily cycle, so that we can deal with this data stream no matter when or where in the world it is coming from.”

Another important side to Atomic Data rests in educating clients to use new technologies.

Jim stresses that this is down to the interests of the customer.

“The premise of what we do is based around reacting to the clients with the appropriate technology – we are not selling them the latest, most cutting-edge technology. Rather, we are giving them the support that they require with whatever technology they wish to work with. It’s a very nimble and flexible approach to business that prevents us from riding the technology wave; it is quite fun to see just how much impact we have on their business.

“Of course, we are educating ourselves on these new technologies, but we don’t have to force ourselves to evolve our products to compete, because that might go against the interests of the client. The only thing that we are constantly evolving is our engineering staff and their education, and that will be nothing but beneficial to us. Because of this, we really are a services business, which is delivering technology services based entirely upon the wishes of the client.”

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Establishing secure data networks is an issue that Jim and the rest of Atomic Data take very seriously, and this has inspired them to create a business ethos, which has since reverberated with clients as an assurance of professionalism.

“We undertook a big study of our clients a few years ago, with the overall goal being to come up with three tenants by which we could conduct our business in the future.

What we came back with at the end of it was the following: ‘safe, simple and smart’.

“In the first instance, everybody should be familiar with the fact that in today’s world, data has to be handled safely. This is especially a concern with the growth of technology since 2002 and the advent of the Cloud. This goes hand in hand with a certain degree of compliance that we have to maintain with our clients, the American Refugee Committee being a particular example.

“We felt it important to embrace simplicity, so that we have the option of boiling the technical side of things down to something that our clients will always be able to understand and feel comfortable with. This is especially important given how complex modern computing technology can be and the nuance around the subject. In our conversations and our communications with the client, we take that extra step to keep everything on a level of business discussion rather than complex technical explanation from experienced engineers. This is paramount to what we do.”

“Finally, our clients not only come to us for products, but they are also after quality service. If we do not offer them the very best in the business, then we do not retain their business. To make this vision a reality, we have very intelligent and experienced individuals on our staff, all of whom have been trained for at least a year before we even let them talk to a client; this is another staple in our business.”

FEATURE

Jim cites his own background as a reason for his success in establishing a flourishing company with a strong business ethic. The youngest in a family of seven hard-working Irish Catholics, Jim learnt from an early age the importance of maintaining a positive outlook, but also a sense of charity. “We donate roughly 20 per cent of our profits to a group of 30 non-profit organisations, with whom we maintain close ties. We as a company get a lot of positive direction from these philanthropic activities.”

Charting his career progression, from US Army Officer to insurance risk assessor to e-manager, it is evident how the stability of his company has come from the acquisition of dynamic leadership abilities. He nonetheless finds himself engaging in a highly competitive industry, and one that comes with its own unique set of challenges. “We have certainly faced our fair share of challenges to making our business a successful one. We have faced growth challenges in the past; we got through initial funding difficulties at the very beginning of the company.”

“Probably the biggest single challenge that we have to regularly face today is employee management. Every day, we might expect to see some employee issue going on, whether it’s in HR or Training or Communications.”

Another significant challenge facing Jim and Atomic Data is the fact that, despite the corporate environment’s increased reliance on technology, their industry is still somewhat subject to the whims and fluctuations of the wider economy. Expanding on this, Jim details how prospective clients tend to behave when faced with this kind of macroeconomic downturn, and how it impacts directly upon his business model.

aspirations for the future of Atomic Data are clear and direct. “We are set upon continuing to do what we have been doing so well for the last 16 years. It is indisputable that we have come a long way in that time. Right now, we are positively humming – we want to stay right where we are, having hit the profit targets that we aspired to. The only job left to do now is to ensure that we manage ourselves and our business properly within those zones.

“We have built a solid practice around the idea that if things are going down, prospective clients will be less inclined to outsource their work, and that could lead to labour shortages in our industry. If, however, things are growing fast, they will outsource. Those same companies will be in a position to buy new products; they may balance between capital and monthly expenses, but we operate in both of those markets very well. We acknowledge that bad times are going to come, but they won’t stick around forever; eventually, things will improve. For any company looking to make headway in this kind of unpredictable economic situation, success rests upon how you balance your own work life and how you deal with these situations.”

“Currently, we are growing at a rate of somewhere between 25 and 40 per cent every year. Nothing seems to be changing that – within the next five years, there do not seem to be any major obstacles to maintaining that high level of growth.

With his present situation built upon firm foundations and a loyal clientele, Jim’s

Jim also explores the impact that his life outside of Atomic Data can have on his business. While this is by no means a unique problem, his take on it proves enlightening.

“What you have to realise there is that, once you get into this position, and you set yourself down the path of wanting to grow a company, you are going to have to embrace the fact that there will be challenges, as they are somewhat of an uncontrollable factor, and you have to be resolute in finding ways to deal with them as they crop up. By eating right, working out regularly, spending plenty of time with my family, and achieving a workable balance between dealing with my clients and my employees, I have successfully found ways to defuse a situation and overcome these workforce challenges.”

“Ultimately, your life has to be balanced – you need personal time as much as you need professional time; overworking, to me, is an additional burden that is going to destabilise your life somehow. When work and personal life are well-balanced, we find that we can react better to things like that.”

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“With this kind of expansion very achievable and sustainable, we see ourselves as retaining our status as a private company, serving the market as best we can. We could potentially see ourselves moving up the food chain a bit and taking on new contracts from the middle market, and possibly even higher than that. As our client base grows and taps into more affluent circles, we can also look to expand our employee base, and continue to provide them with training that places them on the frontier of technological understanding.”

FEATURE

HEDGE FUND MANAGER OF THE YEAR – CALIFORNIA

AMERICAFIRST CAPITAL MANAGEMENT

Company: AmericaFirst Capital Management Email: rgonsalves@afcm-quant.com Phone: 001 916 787 9940 Web: www.americafirstfunds.com Address: 8150 Sierra College Boulevard, Roseville, 95661, California

AmericaFirst Capital Management, LLC. is a privately-held boutique investment firm, specializing in the creation of Quantitative Investment strategies and products that seek to rely on consistent and reoccurring historical trends to increase the odds of achieving positive returns for the future.

Emerging in 2007 from the team behind Investment professionals, AmericaFirst’s running start was guaranteed by inheriting a team of people with experience in successfully managing investment portfolios since the early 1990s. In the two decades since then, the strategies adopted by Rick Gonsalves and his team have been further improved upon and enhanced, until the company stands on the cornerstone of the industry.

Today, AmericaFirst holds a prestigious place as advisor to nearly 20 series of Unit Investment Trusts, and manages a suite of Mutual Funds. Their process in managing these responsibilities is driven by a process that is both methodical and devoid of emotional judgements. AmericaFirst’s business practices thus reflect upon the company’s dedication to continuously improving its research philosophy, and keeps its investment strategies so far ahead of the curve that they stand at the forefront of their respective field.

Carrying forward a strong philosophy is key to Rick’s business stratagem, and to the company’s wider ethics. Greed, fear, comfort and complacency can all exert unwanted and negative repercussions upon an already risky line of work – buying stocks at too high a level, or failing to take advantage of low stocks, can cripple a business, but AmericaFirst has pushed through these potential roadblocks, leading by example through rigorous testing

of the markets, dividing ownership among its employees and pioneering work in developing proprietary software designed to enable a quantitative approach in data-sifting.

AmericaFirst’s efforts have not gone unnoticed.

Scooping up recognition as the Best Alternative Multi-Strategy Fund over a three-year period in Sacramento in 2013 was a major achievement for Gonsalves. Hailing the accomplishment, he professed the company’s unique market position and unscrupulous work ethic. “We focus our resources on comprehensive research to develop our models and various investment strategies. We believe that comprehensive research combined with our investment management process has allowed AmericaFirst to outperform so many mutual funds in this category.” In fact, AmericaFirst outperformed 106 other competitive firms to reach this crowning achievement.

From its headquarters in Roseville, California, Gonsalves’ company is ready to further expand and make its presence truly felt. Having just increased its stake in Verizon Communications by over 9,000 shares, AmericaFirst looks set to expand its operations, providing investment advisory services to more customers than ever, whilst holding true to its proactive principles and looking for new ways to expand its assets to new horizons.

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FEATURE

1606JL19

CEO 100 - NORTH CAROLINA

KEITH EADES

Company: Sales Performance International Name: Keith Eades, CEO Email: keades@spisales.com Web Address: www.spisales.com Address: 6201 Fairview Rd Suite 400, Charlotte, NC 28210 Telephone: 1.704.227.6500

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FEATURE

Keith Eades, CEO of Sales Performance International, speaks to Corporate America about what makes his business so successful, and what makes him tick.

Sales Performance International (SPI) is the world leader in sales performance improvement. Founded in 1988, SPI has assisted more than 1,100,000 sales and management professionals in more than 50 countries and 14 languages, and more than 45 industries - to achieve independently verified performance improvements.

Headquartered in Charlotte, North Carolina, with offices in Brussels, London, and Shanghai, SPI provides the industry's only full customer life-cycle improvement solution that encompasses the four key pillars of sales performance: creating demand, winning deals, growing accounts, and managing effectively.

A key enabler for customer success is the SPI1 sales performance platform, which empowers sales organizations to drive continuous, data-driven sales improvement and offer sales managers greater insight and control over performance.

The firm’s extensive sales performance expertise, deep industry knowledge, global resources, and technology innovation uniquely position SPI as the go-to partner for organizations that need to rapidly transform sales in a disruptive and increasingly competitive world.

Keith Eades is Founder and Chief Executive officer of the company and has been in the role since its inception in 1988. “Over the last few years, I have transitioned out of the dayto-day operations to focus more on developing our people, important client relationships, and our future strategic direction,” he says of his role. “I divide my time equally across these three areas, and spend a great deal of time traveling internationally to support our business. I’m very fortunate to have a very experienced and capable management team that I trust to operate the business on a dayto-day basis.”

“When I started the company, I could not have imagined that it would grow into the successful, global business that it is today. I started the company because I thought that I could elevate the professionalism of the sales function. This was driven by my personal passion, and I envisioned that it would be more of a lifestyle business for me and a few close associates. However, we were wildly successful

and grew through sharp client focus and outstanding people.

“Over the years at SPI, we have continuously developed new solutions to meet the evolving needs of our clients, and we have added leading industry experts and grown our global presence to help some of the world’s largest and most sophisticated companies.”

Keith graduated from Clemson University in 1976 with a degree in Management. It was around this time, he tells us, that technology began to emerge to support organizations.

“I was fortunate to take a sales position with a pioneer in the technology industry called Management Science America (MSA). It was there that I really honed my skill as a salesperson, because the product we sold was so new and so different and required us to create a new market and new categories.

Through this experience, I developed an appreciation for the need for process and consistency to scale a sales force and grow profitably. The techniques that we developed and used at MSA formed the foundation for much of the training that we delivered in the early stages at SPI.” When it comes to staff management, Keith states that there are key principles which must be adhered to, especially in such a highly professional organization that serves sophisticated clients. “I believe in hiring bright people who have a passion for solving client challenges, and have the drive to stay at the top of their profession,” he comments.

“I’ve been fortunate because smart, clientfocused people seldom require heavyhanded management. I work hard to foster a collaborative work environment and encourage continuous development in our people to serve our clients to the best of our abilities.

One final value that I insist on is the need for absolute honesty and integrity.”

The business world is constantly evolving, as are the needs of SPI’s clients, as Keith states: “Even in very good times when we’ve grown very quickly, we have had to challenge ourselves to avoid complacency and improve our ability to solve problems for our clients.

This requires tremendous investment and commitment in developing our people.”

“Through difficult times, such as the dotcom implosion of 2001 and the global financial

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meltdown of 2007, we kept good people and continued to invest in them. This loyalty ensured our clients that we would continue to service them at a very high level, even if it meant negatively impacting our profitability.”

Indeed, the industry is changing so quickly that it is essential to keep up with trends and competitors. “We do this through our Voice of the Buyer programs, relationships with industry analysts, and our involvement in our industry ecosystem. Even more importantly is how we incorporate this information to continuously update our strategy and improve our competitiveness.”

One of SPI’s core principles is to understand its clients and how they buy, at a very deep level which, Keith tells us, requires actual, live conversations with clients to understand the challenges and the real life constraints that they face. Then, quickly developing and testing solution prototypes to gauge their effectiveness and viability. It is this which Keith attributes to the success of the business.

“When you understand what clients need, how clients buy, and why they choose you over your competitors, then you can align your sales and marketing strategies and investments accordingly. We also take great measures to understand what our salespeople are doing to win business, and then replicate that success across the sales force through training and enablement.”

Keeping yourself motivated in a position such as Keith’s is vital in order to maintain a positive attitude. Keith’s recent venture into grandparenthood is what makes him tick.

“I love spending time with my grandchildren and family. They remind me that life is about people and can be enjoyed in the simplest of ways. I also love giving back to my community and my school.”

Keith has future aspirations in abundance, both for himself and for SPI. “I want our firm to continue to separate itself as a leader in our industry by providing outstanding solutions and services to our clients. We have been investing heavily in technology to help us do this better, faster, and cheaper.”

“In five years, I hope to be retired and pass ownership of the company to our next generation of leaders.”

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EXPERT WITNESS OF THE YEAR - CALIFORNIA

KAYCEA T CAMPBELL

Company: Strategic Economic Analysis Address: 4170 Elm Avenue, #113, Long Beach, CA, 90807 Email: kaycea@strategiceconomicanalysis.com Telephone: 323-404-7799 Website: www.strategiceconomicanalysis.com

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Strategic Economic Analysis is an economics consulting firm specializing in loss analysis in civil litigation.

The firm is run and operated by economist Kaycea Campbell, who provides economic reports and advise to both plaintiff and defense attorneys on cases in a variety of fields; these include personal injury, wrongful death, employment disputes, healthcare loss analysis, and lost profits from business cases.

Exploring her own career milestones, Kaycea exemplifies the level of professional quality and sought-after expertise that has made the firm a recognised champion in economic consultancy. With an M.A. in Economics from University of Southern California alongside a Ph.D. in Economics/Management from Claremont Graduate University, she has numerous publications under her belt on economic theory and public policy. She has since gone on to achieve a number of privileged positions including Associate Professor of Economics at Pierce College. Now with 10 years of economics and statistical experience to her name, her expansive credentials alone are what she believes singles her firm out as the best option for clients looking for economic consultancy in civil litigation.

Kaycea also actively engages in research on how an economy changes during periods of economic stagnation and or prosperity.

“I am currently a Research Associate for the Claremont Institute for Economic Policy Studies. I review economic texts for publications and collaborate on projects and conferences related to economic issues. For the last five years I have been conducting healthcare economic analysis on a consulting basis to firms that require technical research on healthcare costs and finances. As such I have direct knowledge in healthcare economics. It is this specialized expertise that makes me fitting for calculations of lost profits within the healthcare field.

“I have also worked as an economics expert and consultant on civil litigation loss analysis related to personal injury, wrongful death, business profits, and employment disputes.”

With a resume like this, Kaycea is well placed at the head of Strategic Economic Analysis.

Welcoming clients from all over the country, depending upon the nature of the case, she provides services reflecting the best that the industry can provide, bringing the full weight of her academia, and the professionalism of her employees, to bear. Whether engaging in expert testimony, suggesting questions for testimony, evaluating adverse economic reports, or helping to construct interrogatories and cross-examination of opposing experts,

Kaycea maintains the highest levels of professionalism and discretion.

Regarding the manner in which she conducts her business, Kaycea remarks, “I do not delegate analysis to assistants, so every client has my full attention and commitment. I also belong to a national network of experts that I can draw upon for consultation, if needed.”

Having faced challenges in her own career, Kaycea explores the wider difficulties faced by the industry at present.

“Lawyers need results—and, often, these results depend on economic analysis.

Economists are called into service by lawyers all the time, whether as consultants or witnesses, to answer important questions that can arise in a variety of court cases, such as: How much is a party in a divorce case really worth? What’s a fair calculation of long-term losses due to injury? What do certain financial records mean?

“There are numerous contexts in which economists’ testimony is relevant to courts.

However, in many cases, economists are called upon specifically to determine economic damages. In some other scenarios, calculating tortious damages is a relatively simple matter; for example, someone whose negligence results in the destruction of a car is likely to be found liable for paying the owner of the car fair market value for the car. However, in personal injury and wrongful death cases, the calculation of damages is considerably difficult.

“As if these considerations were not enough, the calculation of economic damages becomes even more difficult given that ‘in the United States a presentation of economic damages by a forensic economist is unique to each personal injury or death case, and is also unique to each jurisdiction’.”

Building upon this, Kaycea demonstrates how Strategic Economic Analysis fits into this dynamic, and how she continues to strive for motivation in a challenging market.

“The calculation of economic damages in the United States is complicated by jurisdictional

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differences. The central premise of economic damages is the determination of ‘but-for’ earnings, that is, earnings that would have achieved but for some intervening attempt such as personal injury, wrongful death, or copyright violation. The expertise contributed by the forensic economist lies in applying theories and methodologies to arrive at the most accurate, often year-by-year calculation of but-for earnings that can be used as the basis for awarding damages.

“These factors render the work of forensic economists highly important in American court settings. Staying active in research, leading seminars, writing textbooks, and collaborating on relevant academic and professional projects keep me motivated.”

Kaycea’s deep understanding of the industry also allows her a clairvoyant insight into the challenges that the industry will face in the near future.

“All of the signs indicate that lawyers need to deepen relationships with economic expert witnesses and consultants. Obtaining the correct economist’s services, whether in testimony or any other component of litigation, could be the difference between winning and losing.

“Economic pressures on certain industries nearly always alter the legal landscape.

For lawyers who work in the fields of entertainment and intellectual property in particular, underlying the relationship between economic and litigation can confer an analytical and strategic advantage. Lawyers with an appreciation of the relationship between economic changes and trends in litigation can, for example, be more adept in identifying expert economic witnesses or in challenging economic assumptions put forward in court.

“The major challenge is that not all aspects of the legal profession embrace this notion. For any lawyers, having a basic understanding of the economic impact of changes in technology and markets might represent the difference between having a firm grasp of a case and not understanding what is truly at stake.”

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CEO 100 - GENE SAUNDERS

PROJECT LIFESAVER

Company: Project Lifesaver Address: (501C3, non-profit) 201 SW Port St. Lucie Blvd Suite 202 Port St. Lucie, Florida 34984 Telephone: 772-446-1271 Website: www.projectlifesaver.org

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Project Lifesaver is a 501 (C) (3) community based, public safety, non-profit organization that provides law enforcement, Fire & Rescue, caregivers and other first responder agencies with specialised equipment and training, the main function of which is to quickly locate and rescue individuals with cognitive disorders, who are prone to the life-threatening behaviour of wandering, including those with Alzheimer’s disease, autism, and Down’s syndrome.

Gene Saunders is the Chief Executive Officer and founder of Project Lifesaver International; after a long career in the police force, it became apparent to Gene that there was a major void that needed to be filled in providing search, rescue and protection for “At Risk” individuals who are prone to the life-threatening behaviour of wandering away from the safety of their homes. He talks through the way in which Project Lifesaver operates in its mission to protect its enrolees.

“At-risk individuals enrolled in the Project Lifesaver program wear a personalized wristband that emits an exclusive radio frequency tracking signal assigned only to the bracelet wearer. Once the local Project Lifesaver agency is notified of the missing person, a search and rescue team responds to the wanderer’s last know location and searching commences using the Project Lifesaver receiver and antenna.

“Project Lifesaver was the first organization to apply tracking technology for the search and rescue of individuals with cognitive disorders and we have remained the leader, the Gold Standard, in this field for the past 16 years.”

Another important function of Project Lifesaver, Gene explores, is also what makes it stand out so dramatically from the wider competition within the market.

As well as supplying the technology and the materials necessary for first responders to carry out a job, Gene places high value in educating his clients on not only the newest tracking techniques, but also on the latest health information related to the disorders that they may be working with, all of which has further improved the quality of care when dealing with emergency situations.

“Project Lifesaver provides training programs that help public safety officers better understand the symptoms and behaviours of the individuals that they are recovering. These training programs give first responders the tools to assess and effectively manage the safe and comfortable return of the at-risk individuals they encounter.

2015 saw Project Lifesaver green-light an initiative of working with the states of New York, Minnesota, Wyoming, Virginia, Massachusetts, and Florida on grant programs to educate the public, train and equip local first responders, and provide support for families and caregivers of individuals with cognitive conditions who are prone to the life threatening symptom of wandering.

These grants have, on occasion, been essential for Project Lifesaver to be able to educate the families of affected clients.

While Lifesaver provides instruction for families and caregivers on the locating technology and reporting protocol when their loved one is missing, the associated costs has prevented many families affected by autism from adding this level of protection to their already complex and multi-faceted plans. To combat this, the Autism Speaks grant provides Project Lifesaver with funds to increase these families’ access to the essential, life-saving technology.

A successful rescue operation, with the support of Project Lifesaver tracking technology, sees a first responder locating the at-risk wandered, approaching them, gaining their trust and putting them into a state of ease, before transferring them home to safety.

Given this, the figures speak for themselves. Since the founding of Project Lifesaver 18 years ago, Project Lifesaver’s 1,600 nationwide agencies have conducted over 3,100 successful rescues. Most of those who wander have been found within a few miles from home, and Gene has seen search times be reduced from days and hours to mere minutes. Recovery times for Project Lifesaver’s at-risk clients average out to 30 minutes, an astonishing 95% less time than standard operations.

This task has been growing steadily over the years, as the reported and diagnosed cases of patients, young and old, cognitive conditions such as autism or Alzheimer’s disease, increases in line with an aging population. This is an encroaching societal problem, and without effective procedures

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and equipment, searches could potentially spiral to involve multiple agencies, enormous costs and wasted hours. This is especially important when every second spent looking for an at-risk invidual increases the chance of an unpleasant outcome For the past 18 years, to combat this, Gene’s focus has been on delivering the tools and training to public safety agencies that are responding to individuals with cognitive disorders who tend to wander, and in so doing providing these vulnerable groups of society with robust support, protection, and peace of mind.

Among the many partner organisations that are involved in collaborations with Gene and Project Lifesaver, there is a stellar list of recognisable and acclaimed foundations, all of whom have benefitted from the industrial support of a more situationally-aware and better-equipped response service. These partners include Autism Speaks, the Alzheimer’s Foundation of America, the Council for Autism and Neurodiversity, and the Unicorn Children’s Foundation.

As the profile of Project Lifesaver has continued to escalate, they have been drawn into new, ground-breaking projects aimed at further increasing the efficiency of at-risk wanderer search operations.

Last year, for instance, the Project collaborated with Lockheed Martin and Loen Engineering Inc. to bring advanced unmanned aerial technology to first response agencies. The result of this venture was the Unmanned Aerial System – UAS – designed to locate special needs individuals that have wandered from their homes, though it is also versatile enough to be used in a number of other critical situations.

“Using the Project Lifesaver location device with aviation assets will extend search areas from approximately one and a half miles to well over seven miles,” said Gene Saunders. “Integrating Lockheed Martin’s Indago with the Project Lifesaver capability is a game changer for Project Lifesaver agencies because it offers an

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affordable alternative to manned aviation assets and can be used by any first responder agency.”

This innovation has already proven itself as a useful asset to first responders, who have come to increasingly rely upon manned aircraft to conduct aerial search and rescue operations; the Indago reduces the response time and increases the efficiency of search efforts when time is critical.

This kind of work highlights the impact that Project Lifesaver’s innovative solutions have upon people’s lives; to Gene, “seeing the impact that the organisation has on the lives of so many individuals – caregivers, family members, first responders, and individuals with cognitive conditions” – is a hugely inspiring and rewarding outcome.

On the subject of his own leadership of the company, Gene remarks upon the qualities that have made Project Lifesaver a breakaway success in the industry.

“As the CEO, I have the responsibility of demonstrating persistence and passion about everything I do. I have a clear vision for our organization, as I implement current and long-term plans whilst managing the financial and physical resources of the organisation.

I am able to deal with many different types of people and personalities, and am often involved in representing the company to communities and stakeholders. I have also built a strong team and none of us are afraid to make difficult decisions.

“Most importantly I am continually assessing my own character and never stop growing, personally or professionally.”

Gene’s past is illuminating, cataloguing his dedicated career in service of his country in the Chesapeake Police Department, Virginia, which ended upon retirement in 2001, but which extends back over 33 years prior Serving in the 43rd Virginia Search-AndRescue (SAR) Company before leaving the position as Chief in 2009, including a stint as Shift Commander at the 1996 Atlanta Olympics, he commanded National and State Guard Aviation and Ranger Units, attaining the rank of Major.

pursuing his goals in this direction ever since. Indeed, Project Lifesaver is the logical brainchild to a lifetime spent protecting the livelihoods of American citizens; this innovative program has employed creative strategies developed through decades of experience in law enforcement, and the application of state-of-the art electronic transmitter technology, to swiftly locate and rescue persons enrolled in the project, speaks volumes for his insight into forward-thinking solutions and strong business ethics.

“As the Founder and CEO of Project Lifesaver I insist on us ‘walking the talk’ of good ethics.

As an organization and as individuals, we aspire to the highest ethical standards and will only work with partners who share our commitments.

“And yes, we thoroughly research and test every product before recommending it to our agencies.”

Gene speaks highly of his employees in Project Lifesaver, citing their hard work as the source of many of the company’s successes since its inception. “My management approach and principles entail motivating my team, consistently instilling a desire to improve, and cultivating employee loyalty.

“My key management principles include consistent, straightforward and honest communicates, delegation, accepting responsibility, and acknowledging all who contribute to successful projects.”

The future of Project Lifesaver is not a prospect that daunts Gene. Even after three decades in such a fast-paced career he has lost no pleasure in the work that he is doing.

His prospects seem humble in comparison to the feats that he has already achieved, simply stating that wishes Project Lifesaver “to be in a position to provide, at no cost, protecting and locating technology and special needs emergency response training to every individual and public safety agency that need it.”

Subsequently, he founded Chesapeake PD’s SWAT Team, and during his 23-year tenure as its head was involved in large scale tactical operations involving criminal manhunts as well as hostage situations.

Project Lifesaver was first established 18 years ago, in October 1998, and in retirement from the force, Gene has been diligently

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2016’S MOST INNOVATIVE HEDGE FUND MANAGER: USA/EUROPE

DENNIS KLEMMING

Company: The Prudent Group Name: Dennis Klemming Email: Dennis@prudentgroup.us Web: www.prudentgroup.us

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The Prudent Group are a highly innovative company who provide working capital to the small and midsize corporate market segment sector. We spoke to Dennis Klemming, Chairman of Prudent Group, to find out more about their firm and the solutions they offer.

Can you introduce me to your company and what it strives to achieve?

The Prudent Group strive to provide the very best supply chain financing solutions to suppliers of well established, often globally, recognised companies. The firm’s ambition is to create long-term relationships with counterparties that allow for highly predictable transaction patterns.

How long has the firm been going for and where are your offices based?

Since the firm’s inception, the Prudent Group has remained focussed on Brazil, where the firm has operational offices in Sao Paulo and Porto Allegre. The team has been built up over many years with a lot of our colleagues bringing in more than 25 years of industry experience. During this time, different departmental teams have joined forces to form the firm’s current corporate family culture built up throughout 20092016. Although Brazil is our prime area of interest, the administrative support functions and investor relations are spread out in Luxembourg, Vienna, Miami and New York.

As a company working in highly competitive industry, how do you stand out from the crowd?

What make us different boils down to a few basic assumptions. Firstly, the Prudent Group believe that the alpha pockets in the traditional investment segments are already overcrowded. Secondly, our focus is to create repeatable proprietary value added transactions by exploring the unique set of circumstances that exist in certain low risk market segments, within specific industries for short-term financing of commercial transactions.

Thirdly, the Prudent Group are focussed on the shadow banking area, where we see plenty of opportunities to take advantage of.

Traditional banks generally are too large and bureaucratic and often too slow to adapt, which leaves many excellent companies without traditional bank financing to meet all of their financial needs. Lastly, we emphasise different forms of collateral to back up the underlying commercial transactions.

Can you go into more detail about the areas your company specialises in?

Our company is firmly focussed on transaction flows that have predictable transaction patterns, such as a food supplier delivering truckloads of pasta every week to a chain of supermarkets. In general, Consumer Staples is a preferred sector over a heavily cyclical occasional delivery pattern. We

prefer suppliers that have a proven long-term track record and who are familiar to our key team members. As such, clients that have better balance sheets, better payment track records and provide a good collateral are preferred.

What kind of clients do you serve and how do you approach them?

There is a market of about 150,000 companies in Brazil alone that use a product such as ours in one way or another. Our strong commercial team with 20 specialists is always out looking for new candidates.

The Prudent Group are fortunate to have experienced colleagues with excellent networks to build from across most sectors, and geographical areas in Brazil. Typically, a client is a family-run business second or third generation with 50 to 2000 employees, and a long-term history that is familiar to our team.

On the subject of people, what role do your staff play in the successes of your firm?

The Prudent Group’s business model is built around the concept of a process type of operation, where each part plays a very important role. The different parts can be described as: commercial client acquisition, data review, credit analysis, transaction monitoring and collection. If one department fails, the whole process lingers.

This is very much a people business where experience counts while we at the same time use sophisticated electronic transaction systems to handle the large volume of transactions. At the Prudent Group, we are however very fortunate to benefit from highly predicable and repetitive transaction patterns, which makes the task easier for our teams.

According to the Barclays Hedge Fund Index, 70% of hedge funds grew within March 2016, with an average growth of just under 2.5%. Why is now the perfect time for the major players in the industry to showcase their services?

From our experience, there will never be a better time than right now for any type of value added product to deliver excess performance! The global pension system is starved for investment products that can meet the increasing saving demands. The current experiment with negative rates in many countries is a dangerous one, at best with yet unforeseen negative consequences.

The key to resolving the problem lies, in the Prudent Group’s opinion, to provide easier access to capital for smaller entrepreneurial companies. No one can run a business at full

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speed without access to sufficient working capital! This is a time when we all need to participate in the best we can to avoid major financial headaches later on. The Hedge Fund industry plays a vital role in ameliorating these global economical misalignments in the financial system.

Can you give examples of any successes your company has had lately?

The Prudent Group recently set up a real time direct electronic link up with the ordering system for GPA. GPA (Grupo Pao de Acucar) is one of the world largest retailers, listed at NYSE with a Global AA investment grade rating. This allows us to select certain orders and help the supplier to get quicker access to more working capital. In addition, the Prudent Group recently signed an agreement with Petrobras, where this aforementioned firm now offer our services on their website to their suppliers. Every new client that we can help generate more business transactions, leaves us with a sense of satisfaction.

We work with over 200 different suppliers and generate 1000’s of transactions each month.

The Prudent Group purposely try to avoid maximising margins on each transaction. In the long run, the client and ourselves benefit, if we are both reasonable. The client does not need to look elsewhere for working capital and we do not need to chase new clients as often. In our opinion, each transaction should have two winners!

Can you tell us about your career background prior to attaining your current position?

I studied law and business and worked as a financial analyst, but over the years I have worked with different financial products, spanning from corporate finance, institutional sales and international fund distribution. I have had Brazilian exposure over the last 16 years and much financial market experience during the last 30 years.

As a hedge fund manager, what opportunities and challenges do you encounter in a daily basis?

None of us considers ourselves to be hedge fund managers to start with, which might help us to approach the challenge differently. Most of the operational people involved have never worked in the so-called Wall Street or London City financial industry. The opportunities that present themselves have been there for a long time, but we simply did not connect the dots. Now, we do!

Each transaction leads to another opportunity through references and word of mouth.

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Every satisfied customer knows at least one more potential client! As time goes by, the Prudent Group is becoming better and better in our execution and more accepted as an investment alternative, and therein lies the opportunity. Hard work and attention to detail is key to the firm’s future success!

The recent crisis in Brazil has been a great opportunity for us. Good companies have a hard time getting the service they need from the banking system. Instead they bring excellent business opportunities to us. As a consequence, the firm’s current local single A investment grade rating will hopefully improve as the quality of our portfolio is gradually improving.

The challenges that the Prudent Group face on a daily basis are several, often related to maintaining focus on the task at hand and minimising distractions. A concrete challenge is to ensure that the financial information available on our borrowers reflect the true conditions. We have an extremely talented chief credit officer, as well as a separate head of credit research, leading this important work. In addition, the ongoing efforts to expand the firm’s research competence in order to establish the financial standing of our borrowers and the financial soundness of the collateral we accept, is a critical task we believe.

It also means that the Prudent Group puts significant emphasis on keeping the channel of communication open between credit and commercial officers who bring in the business. We are putting emphasis on incentivising the commercial officers to prepare standardised call reports when they visit the client and more importantly incentivising the commercial officers to care about loan quality and collateral quality.

Thus, to overcome this challenge, that of having insufficient accurate financial data and achieve the excess returns available in financing short-term commercial transactions, we are investing heavily in our operating staff and human capital.

The good news for the firm’s business model in general is that there are very few unknown variables to deal with. If we fail to deliver our target returns, the Prudent Group has no one else to blame other than ourselves, which is wonderful!

Germany and Sweden to well-informed investors. In addition, the Prudent Group are opening up a new sub-fund, entitled the Prudent Enhanced Yield Fund, that will have an insurance wrapper from a leading Global AA- rated insurance company. This product will target very large corporate payees, often with their own investment grade ratings.

This implies that we will provide investors with a chance to benefit from a more secure transaction model. Our target is to generate close to double digit annual interests on an unleveraged basis with a global investment grade receivable (Payee) backed by a global AA- insurance company guaranteeing the payments.

Lastly, how does it feel to have been awarded 2016’s Most Innovative Hedge Fund Manager: USA/Europe?

Here at the Prudent Group, we are extremely surprised! While the financial industry worldwide is filled with clever people delivering great products, the Prudent Group is simply running an operational business providing working capital to smaller companies.

Ultimately, the Prudent Group sincerely appreciate the recognition on behalf of its 65-man strong team. It would be a pleasure to welcome any enquiries from Corporate America’s readers to see if this investment product is right for them.

“This award is not only for our investment team, represented by some of our colleagues in the picture such as our local head Giovanni Cataldi, Edivaldo Albuquerque, Edson Luis Paulino, Mario Delbianco, Ralph Levy, Jacob Gitman, Luciano de Claro, Jon Malmsater, Isaias Melo, Alfred Neimke and David Kallus, but for all of the hard working team members in Brazil and elsewhere.

Please note that the firm’s investment product is registered in Luxembourg and is focused towards professional investors, family offices or high net worth individuals. The investment products are not offered for sale to any retail investors. Feel free to reach out to info@ prudentgroup.us for more information about the Prudent investment family. So on behalf of the Prudent investment family, thank you!

Looking ahead, do you have any plans for 2016 and beyond that you would like to share?

Yes, we have recently been approved to distribute our fund products locally in

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TURNAROUND AND CORPORATE RENEWAL

SURPLUS ASSET MANAGEMENT (SAM AUCTIONS)

Company: Surplus Asset Management (SAM Auctions) Name: Ben Smith - Chief Strategy Officer Email: ben@surplusassetmanagement.com Web: www.surplusassetmanagement.com Address: 4111 W. Clarendon Ave., Phoenix, AZ 85019 Phone: +1 602 442 4554

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Surplus Asset Management works with hotels, casinos, grocery stores, restaurants, and retail at times of closures, remodels, and liquidations. With an extensive and targeted database of buyers, it converts FF&E from landfill waste to sales and leaves properties broom swept for new tenants.

With the current round of retail, grocery, and restaurant closures, Surplus Asset Management (SAM) has seen an uptick in growth as these businesses consolidate and cut out non-performing locations within chains. Often in this process, inventory is redistributed or liquidated, leaving the locations filled with furniture, fixtures, and equipment (FF&E). That is where SAM comes in. Specialising in FF&E, from appraisals and valuations, to sales and removal strategies, SAM is the industry go-to for companies of all sizes throughout North America. With 29 years of experience and deep pricing knowledge, SAM is able to efficiently and accurately discern scrap from saleable equipment, not only producing revenue, but also offering green alternatives diverting equipment and recyclables from landfills.

“Marketing is a huge key and SAM has focused on developing a database and segmenting specific buyer personas so that each sale is maximised based on the equipment up for sale, Smith explained. “With over 26,000 active buyers and state-of-the-art digital resources, SAM is able to efficiently advertise, market, and attract buyers in any region.”

FF&E may always be an afterthought in a merger or acquisition, but with SAM partnering on a project, it can become a profit centre – not a loss. For companies expanding or resizing on any scale, that’s a major benefit to the bottom line. To learn more, you can contact them at www.surplusassetmanagement.com

SAM’s team of seasoned professionals work throughout North America on closures, remodels, and liquidations across multiple verticals, including hotels, casinos, grocery stores, restaurants, and retail. They quickly establish price points and develop logistics plans, securing a path for the chain to vacate the property.

SAM’s breadth of services, aggressive timelines, and ability to leave properties “broom swept” for the next tenant have built their reputation on getting projects done on-time and on-budget.

SAM manages not just liquidations and auctions, but is also called in to assist in inventory removal, warehousing, and logistics by turnaround managers, bankruptcy courts, and fiduciaries of all sizes.

With facilities and partnerships throughout the United States, Canada, and Mexico, SAM continues to grow and has seen their revenues double from last year. This aggressive growth in the “shut down” field is fuelled by the current state of mergers and subsequent closures based on bottom lines.

We caught up with Ben Smith, SAM’s Chief Strategy Officer, and he outlined some of these trends and shared his vision on the company’s extraordinary growth. “The face of retail and restaurants has been changed by e-commerce,” Smith explained. “The trend is to evolve and test various footprints and begin to create distribution points instead of straight retail environments. This change means both closures and major changes to remaining locations.

That’s where our team at SAM comes in. We take the guesswork out of the process of by changing out assets and get the maximum value while selling them on our client’s behalf. Bottom line, we maximise value and minimise risk.”

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BEST ERP SYSTEM IMPLEMENTATION CONSULTANTS

PROFESSIONAL PLUS SOLUTIONS

Company: Professional Plus Solutions Limited Email: info@professionalplussolutions.com Phone: + 44 871 237 9412 Web Address: www.professionalplussolutions.com Address: 84th Floor, 233 S. Wacker Drive, Chicago, IL 6060

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FEATURE

Professional Plus Solutions is a niche consulting firm, providing consulting services to law firms in the areas of accounting, practice management, workflow, and CRM systems. Despite the nature of their market, the services they provide within that niche are very broad. Under the direction of Niamh Eadie, they have provided services across the entire spectrum from system selection, through strategy, vision, project management, implementation, training, support and technical and development services.

IT is at the heart of providing a legal service, whatever size a law firm happens to be. The applications that lawyers use are not strictly about IT, but are very much about the business of supporting the practice of law. Any IT solutions provider that taps into this market has to therefore consider the gravity of the service that they are providing, in enabling law firms to practice their business to the best of their abilities, perhaps having a substantial difference on altering the progress made on cases now and in the future.

As Niamh Eadie explores the company’s ethics, business conduct and emphasis on employees’ continuing development, Professional Plus Solutions are certainly in an optimal place to benefit from an industry that is beginning to demand more from IT providers.

“Our mission,” as Niamh says, “is to provide innovative solutions to law firms. We form close partnerships with our strategic application partners and with our clients to enable us to deliver these solutions to clients. We uphold a strong commitment to delivering value to our clients, whilst we assist them in implementing some very major changes within their business. We are there for the long haul.”

As a part of upholding this core business objective, Professional Plus takes pride in a long history of product and software development – they offer two flagship products to their clients, as a means of providing them with the necessary tools to optimise their practice management and use of CRM technology. InfoPlus, driven by a wizard interface, is designed to give law

firms the ability to access any ad-hoc information from their underlying business applications that they need.

BCon, meanwhile, is a communication and compliance framework that enables firms to keep everyone informed of the status of the key elements within their business, whatever they may be.

To Niamh, none of this would be possible without the input of a team of IT aficionados, who make it their business to have as rounded and comprehensive a knowledge as possible. The outcome of this helps to overcome the challenge of spiralling costs and drawn-out processes, as Niamh explains “Our law firm clients will typically implement several ‘best of breed’ applications to deliver on their strategic vision. This can lead to expensive and complex implementation projects. We de-risk these change programs for our clients by having a team of consultants conversant in all of those products. This leads to huge savings for our clients, both in time and money. After all, why employ several single dimensional consultants when you can employ one multi-faceted expert?

“We have a very ‘can do’ culture within the firm. We like to see solutions, not problems. Our consultants are always learning new skills, as we encourage them to become conversant in as many applications and disciplines as possible. This approach leads to multi-skilled consultants that can provide a broad service to our clients.”

This especial focus on training and learning is a cornerstone of the business, Niamh explains -employees are rewarded for the time that they spend on training and

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enhancing their skillsets. This approach, as Niamh details, has been incredibly important for Professional Plus to deliver on projects. For many of their clients, who do not have the luxury of maintaining an in-house IT department – at least on a full-time basis – utilising the Professional Plus IT department service enables law firms to pick and choose the type of service that suits their needs the best.

This leads Niamh to conclusions about her staff that reflect upon her own approach to leadership, as well as the philosophy and wider work ethic behind the company.

“Everyone within our organisation is a leader, and is responsible for the success of this firm. If you enable your people at every level, to be responsible for their own success and the success of the clients they work for, you will deliver success as a firm.”

Strategic partnerships and multi-skilled consultants makes Professional Plus Solutions unique in their marketplace.

“None of our competitors approach delivery of a law firm’s technology strategy in quite the same way that we do.” Backed up by the strong array of products and services, tailored to give law firms a technological edge in structuring their business, Professional Plus is justified in claiming to be a leading force in the market.

Professional Plus Solutions is currently in a period of rapid growth; with offices in the UK, Europe and the US, Professional Plus plan to continue to expand their offerings in line with client demand.

FEATURE

THE BUSINESS ELITE - CFO OF THE YEAR – OREGON

TILLAMOOK COUNTY CREAMERY ASSOCIATION

Company: Tillamook County Creamery Association Email: lpearce@tillamookcheese.com Phone: +1 503-842-4481 Web Address: www.tillamook.com Address: 4185 N Hwy 101, Tillamook, OR 97141

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FEATURE

Set against the backdrop of the rainy west Oregon coastline, an historic partnership of dairy farmers has benefitted greatly from their environs, known pseudo-officially as the Land of Cheese, Trees, and Ocean Breeze.

The Tillamook Valley in Oregon has been ideal for dairy cattle since the mid-19th Century. With a climate more partial to rain, the rich quality of the grass is prime real estate upon which to build a pasture and rear cattle. As it happens, this area has been cultivated by American entrepreneurs since 1854. The only problem facing these frontiersmen was how to properly transport their high-quality milk and butter produce over the mountains to be sold. Innovation and determination prompted the introduction of the schooner Morning Star, whose mission was to ferry the produce up the coast to Portland.

Jack, mozzarella, and Swiss. The Tillamook Cheese Factory in Tillamook welcomes more than one million visitors per year, and offers them a chance to watch cheese production and packaging from a viewing deck, as well as sample and purchase every variety of Tillamook cheese made.

This story is engrained into the legend of the modern Tillamook County Creamery Association (TCCA), which grew out of a partnership between ten independent dairy farmers in 1909. The Morning Star is immortalised on the modern co-op’s logo, and a replica of the original ship, built by master shipwright Richard Miles of Aberdeen, Washington, is on display at the Tillamook Cheese Factory in Tillamook, Oregon.

These cheeses are very much the flagship line of Tillamook’s produce, owing to the long list of accolades and awards that they have received over the years. Aided by the construction of a second facility devoted to cheese production in Boardman, Oregon, the production capacity of TCCA’s cheese lines has doubled since 2001, and the Association has routinely won awards from the American Cheese Society and other groups, owing to the hundred years of experience and uninterrupted business in the area. In March 2010, Tillamook’s Medium Cheddar cheese scored 99.6 out of 100 points possible, beating 59 other entries to win the gold medal in the 2010 World Cheese Championship Cheese Contest, hosted by the Wisconsin Cheese Makers Association in Madison, Wisconsin.

Today, the TCCA is a vast cooperative of nearly 100 dairy farming facilities, who remain guided by their century-old values of quality, cooperation, integrity, stewardship and responsiveness. Their production across a large range of facilities churns out a comprehensive range of well-made dairy products: ice cream, butter, sour cream, and yogurt. Most of the Association’s production, however, is devoted to their award-winning cheeses, particularly cheddar, but also including Colby, Monterey Jack, Pepper

This recognition by a leading authority in their industry has given the TCCA a major spur to keep building their dairy enterprise, and has also paid off through the steady dissemination of their products across not only the Northwest states, but across the rest of the country. The factory now plays host to a number of events aimed at attracting new local business, while cementing its place at the centre of their community. Every summer in Oregon sees the company open its doors to take on a wave of

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summer staff, all the better for facilitating a surge in demand for freshly-made ice cream, while giving opportunities for young locals to contribute to a staple of the regional economy.

Even today, the rugged isolation of the Oregon coastline lends itself to the family business’s continued success in the area. The 2010 U.S. census did not measure the number of cows in Tillamook County – which the TCCA think is a tremendous shame – but if it had, it would have recorded that they outnumber the people that live there. Maintaining such a balance of nature, with the veritable rainforest of Douglas Firs that make up the Tillamook State Forest right on their doorstep, the TCCA has been blessed to achieve so much in their remote area.

With the TCCA’s main facility, the Tillamook Cheese Factory practically straddling Route 101, the logistical nightmares that once beset their forefathers have been laid to rest thanks to modern transport economics. As such, Tillamook cheese, ice cream, yogurt, sour cream and butter can be found in refrigerators and freezers across the U.S., but there is still so much wilderness here that the family business has a guaranteed future as producers of high-quality dairy products for years to come, uninterrupted by the pace of more industrious lifestyles in Portland and elsewhere.

As long as it continues to rain in Oregon, the TCCA story will continue.

FEATURE

THE BUSINESS ELITE - CFO OF THE YEAR - FLORIDA

WARREN HENRY AUTOMOTIVE GROUP

Tofudevil / Shutterstock.com

Company: Warren Henry Automotive Group Phone: 888-856-3113 Web Address: www.warrenhenryauto.com Address: 20800 NW, 2nd Ave. (Hwy 441), Miami, FL 33169

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FEATURE

Now in its fourth decade, Warren Henry is a byword for luxury in South Florida. The Warren Henry family of dealerships includes a variety of premium automotive brands and features the region’s most exceptional customer service. Most prominent among these are Lamborghini, Jaguar, Land Rover and Infiniti.

In 2016, Warren Henry marks celebrations of 40 years of service to the community. With customers in Miami, Miami Beach, Coral Gables, Coconut Grove, Aventura, Sunny Isles Beach, Hallandale, Miami Lakes, and Hialeah making up their domestic reach, the Group have also been able to carve a presence online, which has facilitated the growth of their brand to overseas markets, touching customers around the world.

Through it all, they maintain a distinguishable amount of pride in being one of the largest dealership groups in South Florida, with their Infiniti dealership an out-andout flagship of theirs.

When Warren Henry opened its Infiniti dealership in 1989, it made a dramatic statement as one of the very first Infiniti dealerships in the state. Since then, the dealership has continued to grow, as customers have come to expect the highest degree of service, unmatched value, and a truly unrivalled integrity from the Warren Henry brand. As such, Warren Henry offers its clientele the latest in Infiniti’s range, including the Q50 Sedan and its hybrid cousin, as well as SUV models in the robust QX range, including the beastly QX80.

In addition to their bespoke brands, Warren Henry also offer a range of fully certified pre-owned vehicles.

The mass consumerism of the automotive industry can present a challenge in the sheer rate by which car models can become obsolete year upon year, but the Warren Henry Group have found lasting success in their pre-owned range, benefitting from the higher values of their resales. A more refined palette might consider the 2013 Ferrari California Convertible, while petrolheads with the money to spend could opt instead for the brash but jaw-dropping 2015 Chevrolet Camaro SS Convertible, or the Chevrolet Corvette Stingray.

Limited edition models such as these lend real resale value to pre-owned cars, as Warren Henry has found for themselves through years of trading in this market.

For the breed of car collector that can find a good home for a fleet of sports cars, the odds are good that Warren can be your one-stop shop for such an array of horsepower.

Warren Henry has also taken extensive steps to provide incentives for its customers, enhancing their access to the best cars in the American market. This has taken the form of a comprehensive package of benefits that truly raises the bar for premium value in the luxury car market. The Warren Henry ADVANTAGE program includes complimentary dent repair, key replacement, a personal assistant, 72-hour exchange policy, and more besides. Further to this, they make a bold guarantee: that a customer will not find the same model with the same features and benefits at a better price anywhere.

in Italy; visiting the factory was an experience that Zinn describes as akin to “going to Car Guy Heaven”.

Taking between three and four days to complete a single car, and with a process involving hours upon hours of devoted, precise handiwork, the increasing appeal of such bespoke, lovingly-crafted vehicles is abundantly clear. In comparison, domestic American car manufacturers can churn out a vehicle inside of 20 hours with the use of modern machinery and robotics, equating to one vehicle coming off the production line every 21 seconds.

This steady growth has been marked by prestigious recognition in national pundits. In 2013, Automotive News unveiled their nationwide pick of the best automotive dealerships to work for. Of the five on the shortlist from within the state of Florida, four were associated with Warren Henry. This announcement gave a huge impetus to the company, spurring them on they continued to bring first-class service and a reputation for employee satisfaction to the automotive dealership industry.

Warren Henry’s tastes move in different circles to the mass market. It is not only a matter of prestige to be seen selling such high-end sports car as the Aventador, Huracán, and the Centenario. With car models on offer with a starting price tag of around $200,000 and extending upwards of $600,000 – some limited edition models can reach “into the millions”, Zinn adds – the potential to take advantage of a discerning local market, with a tailored eye for such a price tag, is a tangible vision of Warren Henry’s immediate future.

Considering that Lamborghini dealerships elsewhere in the USA see at least one new Lamborghini sold every month – with some reporting five a month – there is heavy suggestion that investing a future in Lamborghini is a discerning business move by the group.

Three years later, Warren Henry is going from strength to strength. The company has developed an exotic rental car company, a luxury car transport company, a dealer intelligence platform and even its own production company. Towards the end of 2015, it was announced that the group would continue to explore more luxurious brands, by opening a new Lamborghini dealership in Fort Lauderdale, Broward County. With a soft opening in December, the 28,000-square-foot space came amid a boom in automotive sales across the American market, especially within the luxury category.

As such, Warren Henry are ideally situated to take advantage of this latest market trend. South Florida is a gleaming hub for luxury auto sales – according to Larry Zinn, general manager and partner in the Auto Group, “it is a very image-conscious area, where people like to drive nice cars and to be seen driving them.”

Lamborghini cars gain enormous value on the American market, owing to their exclusive production

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Looking into the near future, the Warren Henry Group looks well prepared to expand their business further still, broadening their influence in the industry by opening a new Audi showroom in Gainesville, in Northern Florida, towards the end of 2016.

Supplementing snug Italian luxury with German reliability, this expansion is set to make further headway in a domestic auto market that is gaining increasingly foreign appetites.

If recent trends are anything to go by, then Warren Henry have every reason to be emboldened and ready to extend their reach. The spurring effect of nationwide economic growth, incentives from manufacturers and dealers, plus extra selling days in December based on accounting within the industry, has provided enough momentum for Warren Henry to build upon.

FEATURE

ISACA CHALLENGES MOBILE PAYMENT SECURITY PERCEPTIONS New Guide Shows Mobile Security Advantages over Traditional Payment Methods

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FEATURE

Advancements in mobile payment security technology are curbing risks and improving consumer trust beyond levels traditionally associated with plastic payment cards, according to new research from global IT association ISACA. The firm’s complimentary guide, “Is Mobile the Winner in Payment Security?,” outlines several advantages of mobile payments relative to physical and e-commerce transactions. Tokenization, device-specific cryptograms and two-factor authentication are described as key improvements positioning mobile payments appeal to both consumers and vendors.

“Mobile payments, with embedded, improved and transparent security controls, are a great example of how security can act as a business enabler, contributing to the creation of end-user trust,” said Christos Dimitriadis, Ph.D., CISA, CISM, CRISC, who is ISACA Board chair and group director of information security for INTRALOT. Some of the mechanisms empowering advancements in mobile payment technology include the notion of tokenization and the idea that secure mobile payment applications—or mobile wallets—do not transmit a card’s primary account number (PAN), instead sending a randomly generated token to the point of sale (POS) terminal and payment network.

This token safeguards the consumer’s data while in transit. “Tokenization is the security solution that is pushing mobile payments ahead of card payments in consumer sensitive financial information protection in the continuous race to stay ahead of hackers and other threats,” according to the ISACA guide. The tokens can be configured to only work for transactions that match specific criteria for an exact period of time, specific retailer and certain monetary amount. Only the issuing bank and authorized entities can securely map tokens back to the original payment card data.

Additionally, device specific cryptograms ensure that the payment originated from the card-holder’s device. If a hacker obtains mobile payment transaction data, the cryptogram that is sent to the POS terminal with the token is unable to be used on another mobile device. This helps render any stolen data unforgeable and useless.

Finally, two-factor authentication provides an additional layer to guard against mobile payment fraud by utilizing two independent mechanisms for authentication. Among the common credentials used are something the user knows (such as a password), something physical that the user has (such as a payment card or phone) and a biometric such as a fingerprint, voice print or facial recognition.

If a mobile device containing a mobile wallet is lost, the mobile device can be remotely erased. And since the consumer’s payment card information is not on the mobile device, the payment cards do not need to be replaced.

Like consumers, merchants stand to benefit from mobile payments in many instances. “A key benefit for merchants is that enhanced security should lower fraud and thereby lower costs,” according to the guide. The report also notes that integrating mobile payments into a merchant’s business creates opportunities for more robust customer loyalty programs and allows for purchases in circumstances when customers do not have access to their physical payment card.

The security advantages of mobile payments may surprise the public as well as security experts who perceive mobile payments as risky. ISACA’s 2015 Mobile Payment Security Study shows that only 23 percent of IT and cybersecurity professionals said they believe mobile payments keep personal information safe.

Still, the global number of mobile payment users is expected to reach 1.09 billion by 2019, according to Ovum, up from 44.55 million in 2014.

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While modern mobile payment methods offer many benefits, the guide also notes some potential vulnerabilities, including during the one-time enrollment when users register a payment card in the mobile wallet application. Mobile wallet providers use methods such as sending payment card data and a device’s geographical coordinates to issuing banks, and any discrepancies can result in a call seeking additional verification.

The guide encourages vendors that adopt mobile payment options to regularly re-evaluate risk control measures to ensure any new scenarios that could emerge are sufficiently addressed.

ISACA helps professionals around the globe realize the positive potential of technology in an evolving digital world.

By offering industry-leading knowledge, standards, credentialing and education, ISACA enables professionals to apply technology in ways that instill confidence, address threats, drive innovation and create positive momentum for their organizations. Established in 1969, ISACA is a global association with more than 140,000 members and certification holders in 187 countries. ISACA is the creator of the COBIT framework, which helps organizations effectively govern and manage their information and technology.

Through its Cybersecurity Nexus (CSX), the firm helps organizations develop skilled cyber workforces and enables individuals to grow and advance their cyber careers.

FEATURE

NUANCE TO ACQUIRE TOUCHCOMMERCE, ACCELERATE GROWTH OF ENTERPRISE BUSINESS Expands Nuance Cloud Portfolio with Digital Customer Engagement Solutions and Enhances AI Capabilities

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FEATURE

Nuance Communications, Inc. has announced that it has signed a definitive agreement to acquire TouchCommerce, a technology partner and leader in digital customer service and engagement solutions. Used by leading enterprises, TouchCommerce’s customer engagement cloud platform increases eCommerce sales and improves the customer service experience.

The addition of TouchCommerce will help accelerate Nuance’s Enterprise business and expand its customer care solutions with a range of new digital engagement offerings, including live chat, customer analytics and personalization solutions.

For large enterprises around the world, customer service interactions are accelerating toward more pervasive digital engagement across web, mobile and social platforms. Consumers today want to choose how they interact or transact, and to move effortlessly between the efficiency of web chat, the connectivity of social media, the independence of self-service, and the convenience of human interaction.

In order to acquire and retain customers, enterprises need to be able to provide a customer service experience when and how the customer desires. This is creating a growing market opportunity for Nuance’s Enterprise business, and a combination with TouchCommerce will provide an end-to-end engagement platform that merges intelligent self-service with assisted service to increase customer satisfaction, strengthen customer loyalty and improve business results.

With TouchCommerce, the Nuance Enterprise business gains: • The Best of Self-Service and Best of Assisted-Service Solutions: The powerful merging of live chat, selfservice guides and data-driven personalization has established TouchCommerce as a leader in digital customer engagement across mobile, web and messaging channels. The TouchCommerce assisted-service platform is the perfect addition to Nuance’s AI-powered customer selfservice solutions, providing enterprises with the ability to efficiently and effectively engage with customers across all channels – phone, web, mobile, social, and more.

• Strong Customer Relationships and Synergies: The acquisition of

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TouchCommerce is a natural extension of Nuance’s Enterprise business and is expected to add attractive revenue streams and incremental organic growth. TouchCommerce has built and maintained strong customer relationships with premier businesses that include AT&T, Citizens Bank, DirectTV, Dixons, eHarmony, Panasonic, Telefonica and T-Mobile. While a majority of TouchCommerce customers already use Nuance solutions, less than 10% of Nuance enterprise customers currently use TouchCommerce, which is expected to create a significant growth opportunity for Nuance. In addition, the company expects to accelerate global reach for TouchCommerce through Nuance’s extensive distribution capabilities in EMEA and Asia Pacific regions.

Expanded Addressable Market Opportunity: The combination of TouchCommerce digital assisted service and Nuance AI-powered solutions comes at a time when consumer preferences for customer service engagements are accelerating toward digital web and mobile services. A recent Forrester study (“Brief: Don’t Make Your Customers Call You For Service,” Forrester Research, Inc., May 16, 2016) found that consumers are increasingly using self-service channels for customer service, with 66% engaging in digital self-service.

The acceleration of digital customer service solutions is expected to expand Nuance’s opportunities in the Customer Engagement market, a $3.7 billion market that is growing at 17% (RnR Market Research, December 2015).

Enhanced Nuance Analytics and AI Differentiation: Nuance and TouchCommerce collectively enable billions of customer interactions each year, generating powerful data assets that, when combined with Nuance’s artificial intelligence technologies, will increase the automation and accuracy levels for a wide range of customer service applications. Nuance will also leverage TouchCommerce’s agent desktop to enable seamless escalation from virtual assistant to human-assisted service, with the system learning through every customer engagement.

Finally, TouchCommerce’s real-time data and targeting technologies will be leveraged to deliver higher levels of

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personalization and proactive service across the platform.

“The combination of Nuance and TouchCommerce promises to disrupt the customer service industry by bringing together the best of self-service and the best of assisted-service solutions, each magnified by the power of artificial intelligence,” said Robert Weideman, executive vice president and general manager for Nuance Enterprise Division. “The result provides enterprises with a customer engagement solution that connects with consumers anytime and anywhere, across voice, digital and mobile devices – delivering superior customer experiences and business results.”

“We are thrilled to join forces with our technology partner Nuance and to integrate our respective capabilities to deliver to our enterprise customers the best omnichannel customer engagement technology and solutions in the industry,” said Bernard Louvat, president and chief executive officer of TouchCommerce. “Our respective capabilities are so complementary and our strategies so similar that it became obvious to both parties that joining forces was the logical next step beyond our existing technology partnership.”

The transaction has been approved by both companies’ Boards of Directors and is expected to close by the end of Nuance’s fiscal year 2016. Total consideration is $215 million. At closing, Nuance will pay $110 million in cash and $85 million in a combination of cash and Nuance common stock determined by Nuance, and the remaining $20 million will be paid at the conclusion of an indemnity period.

It is not expected to have a material impact on Nuance’s fiscal 2016 revenues. In fiscal 2017, TouchCommerce is expected to add at least $60 million in GAAP revenue and at least $70 million in non-GAAP revenue, and add at least a percentage point to overall corporate organic growth. In fiscal 2016, Nuance expects the transaction to be accretive to GAAP EPS by $0.07 and neutral to non-GAAP EPS. In fiscal 2017, Nuance expects the transaction to be dilutive to GAAP EPS by $(0.07) and neutral to nonGAAP EPS.

FEATURE

PAYPAL AND VISA ENTER PARTNERSHIP TO EXTEND CONSUMER PAYMENT CHOICE Companies Collaborate to Accelerate the Adoption of Digital Payments

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FEATURE

Leading payment specialists PayPal and Visa have announced a U.S. strategic partnership that will result in an improved and more seamless payment experience for Visa cardholders and will offer greater choice in how consumers pay with the PayPal and Venmo wallets.

The partnership puts PayPal and Visa on a new path, with the companies working more collaboratively to accelerate the adoption of safe, reliable and convenient digital payments for consumers and merchants. Further, the arrangement is designed to carry significant benefits for issuing financial institutions, acquirers, and merchants. For issuing institutions, these include a better customer experience, more spending volume on their credit and debit cards, lower operational costs, and improved security. Merchants will also benefit from the improved customer experience, efficiency, and security, which together will help drive increased sales.

Details of this agreement include: •

• • •

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Enhanced Consumer Choice and Improved Experience for Visa Cardholders: PayPal will make it easier for new and existing customers to choose to pay with their Visa cards and ensure a more seamless experience: ◦ Visa cards will be presented as a clear and equal payment option during enrollment and subsequent payments, with an easy ability for consumers to set as their preferred payment method Visa digital card images will be incorporated into payment flows PayPal will not encourage Visa cardholders to link to a bank account via ACH PayPal will also support and work with issuers to identify consumers who choose to migrate existing ACH payment flows to their Visa cards PayPal will Join the Visa Digital Enablement Program (VDEP) to Expand Point of Sale Acceptance: PayPal will join VDEP, a commercial framework for Visa partners to access Visa’s token services and other digital capabilities in the United States. This will enhance

•

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transaction security and expand acceptance for PayPal’s digital wallet to all physical retail locations where Visa contactless transactions are enabled.

Consistent with VDEP, issuers will be able to choose whether to participate and retailers can expect to pay fees that are consistent with other contactless transactions they accept today.

Instant Withdrawal of Money: Consumers will be able to instantly withdraw and move money from their PayPal and Venmo accounts to their bank account via their Visa debit cards leveraging Visa Direct – providing an experience that offers speed, security and convenience.

Enhanced Data Quality: PayPal will ensure that data provided to issuers and their cardholders for Visa-funded transactions will be consistent with the information that is received with traditional Visa card transactions.

This will ensure a better consumer experience, reduce cardholder confusion, ensure proper application of rewards, and reduce costly and timeconsuming disputes.

Economic Incentives: The agreement affords PayPal certain economic incentives, including Visa incentives for increased volume, and greater long-term Visa fee certainty.

“Giving consumers choice in how and where they pay is essential to our goal of being a customer champion and we welcome the opportunity to work with more partners like Visa who share our vision,” said Dan Schulman, president and chief executive officer, PayPal. “This agreement opens new avenues for PayPal to collaborate with Visa, financial institutions, and others in the payments ecosystem to deliver greater value, more choice, and new experiences for our joint customers wherever they transact online, in-app or in-store.”

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“We are excited to begin a new chapter with PayPal. Our agreement provides a framework for our companies to work together collaboratively,” added Charlie Scharf, chief executive officer, Visa. “PayPal has built industry leading capabilities which complement those of Visa and our clients, and working together, we will be able to deliver better solutions for consumers and merchants.

At Visa, we are focused on growth by providing our issuer and acquirer clients – and their clients, merchants and consumers – with the best way to pay and be paid everywhere and this agreement supports this approach.”

Ken Wolter Shutterstock.com

FEATURE

PNC BANK’S “TINY BRANCH” DEBUTS IN MORGANTOWN Portable, Temporary Bank Is Just 20x8 Feet

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FEATURE

PNC Bank has revealed its portable “Tiny Branch” on the campus of West Virginia University. Measuring 20 x 8 foot, or 160 square feet, the converted steel container brings PNC’s newest concept branch to Morgantown consumers along with the ease of drive-up service.

The branch’s location on Van Voorhis Road raised to four the number of full service PNC branches serving WVU, with which PNC has a banking agreement serving students, faculty and staff.

PNC Bank, National Association, is a member of The PNC Financial Services Group, Inc. PNC is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking; residential mortgage banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management.

Alongside the new portable bank, PNC has made a $10,000 donation in support of university students affected by June’s devastating floods. The grant to Kenneth D. and Carolyn T. Gray Emergency Fund, operated by the university, aligns with WVU’s efforts to assist flood victims and PNC’s long history of supporting the communities in which it operates.

banking. Financial services consultants, who will focus on in-depth conversations, will staff the branch. Instead of waiting behind a counter, they will approach customers and use iPads to help with a full range of services, including new accounts and personal loans along with referrals for PNC mortgage, investments, business banking and other products. They will also demonstrate innovative online and mobile services, such as PNC Virtual Wallet for consumers and Cash Flow Insight for small businesses.

For routine transactions, customers have access to a DepositEasy “smart” ATM, which will be available 24/7 to withdraw cash in increments as small as $1, cash checks, and deposit checks or cash into their accounts. In addition, an Instant Card Issuance Printer on site allows consumers to leave the branch with an activated PNC Visa debit card or WVU co-branded check card.

“Branch convenience to home remains the number one consideration when consumers choose their primary bank,” said Jim Balouris, Southwest Pa. market manager, PNC Bank. “This tiny branch is like a pop-up installation. It is a fun, creative way to bring a host of services that help customers discover ways to enhance their financial wellbeing.”

The branch offers free parking and joins existing PNC staffed locations at Mountainlair, Evansdale Crossing and Suncrest Town Centre. In addition, the branch raises the number of ATMs serving the Morgantown community to 23, which includes those found at all area Sheetz locations. The new branch will serve customers Monday through Friday from 9 a.m. to 5 p.m. In late August, it will move one mile to a second location near Evansdale Crossing, where it will remain until mid-December of this year.

More than half (56 percent) of PNC’s customers now use non-branch channels, e.g., online, mobile and ATM, for the majority of their transactions. This compares to 38 percent just three years ago. In addition, deposit transactions via ATM and mobile channels increased to 47 percent of total deposit transactions in the first quarter 2016 compared with 38 percent in the 4th quarter of 2014.

PNC continues to make investments in the customer experience. It now has more than 350 branches operating with the universal model, or 14 percent, out of a total branch network of 2,613 and 8,940 ATMs. The five-year strategy will result in two thirds of branches converted to the new model.

“Working with PNC to open this ‘tiny branch’ is an example of how West Virginia University works with its business partners to bring convenience, high levels of customer service and innovation to campus as a way to enhance the student experience,” said Daniel A. Durbin, senior vice president of finance. “You’ve heard it said that Mountaineers go first, so it is only appropriate WVU be the site of PNC’s first ‘tiny branch’ on a college campus.”

The branch addresses the increasing customer preference to opt for self-service

Aspen Photo Shutterstock.com

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FEATURE

QUVA PHARMA ACQUIRES BIOTECH PHARMACEUTICAL FACILITY IN NEW JERSEY New 160,000-Square-Foot Facility Will Significantly Expand Company’s Reach into Key Market

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FEATURE

QuVa Pharma, Inc., a recently formed national platform for sterile compounding pharmacy services, has announced that it has signed an agreement to acquire an FDA approved biotech pharmaceutical facility in New Jersey. QuVa Pharma currently operates two Texas-based 503B registered manufacturing facilities.

Financial terms of the private transaction were not disclosed. In August 2015, the company received a majority equity commitment from Bain Capital Private Equity to support creation and expansion plans.

Once the facility is operational, QuVa Pharma expects to hire more than 100 new employees. Comprising two interconnected buildings, QuVa Pharma anticipates the state-of-the-art 503B manufacturing facility will commence operations in mid2017. The buildings will be modified to meet or exceed the FDA’s requirements for sterile manufacturing in the 503B setting. The site will include complete inhouse product and environmental testing capabilities, both of which support a major industry quality initiative that QuVa Pharma is leading.

The 160,000 square-foot pharmaceutical facility will enable QuVa Pharma to significantly extend its production capability and capacity to deliver highquality, ready-to-use compounded sterile drug preparations to hospitals in key markets in the eastern half of the US. Located near Route 78 in western New Jersey, and in close proximity to the I-95 corridor and Newark Liberty International Airport, the strategically located facility is a gateway to major distribution hubs and opens significant expansion opportunities for QuVa Pharma with access to Pennsylvania and Ohio to the West, New York to the East, New England to the North, in addition to DC and key Southeastern markets.

“QuVa leads the industry in only releasing product that is fully tested to USP standards for sterility, potency, and endotoxins,” said Peter Jenkins, co-founder and Chief Development Officer of QuVa Pharma. “With the added capability of in-house laboratories, we can ensure timely delivery of product at competitive prices. We believe this will be a significant advantage relative to our competitors.”

“When we complete modifications, this facility will be the country’s premier outsourced sterile compounding site, purpose-constructed to comply with FDA regulations and meet the most stringent state and regulatory requirements,” said Stuart Hinchen, QuVa Pharma’s cofounder and Chief Executive Officer. “By deliberately establishing our presence at the confluence of robust interstate commerce, we are ensuring that major hospitals and health systems have access to a high-quality alternative for compounded drugs. The purchase allows QuVa to continue setting a new standard for safety, in addition to ensuring a reliable supply.”

QuVa Pharma will continue to leverage the healthcare investment experience and deep resources of Bain Capital Private Equity to actively expand its current operations and open additional locations.

“This large facility is a key component of the QuVa expansion strategy,” said Chris Gordon, a Managing Director of Bain Capital Private Equity. “We are pleased to support the QuVa Pharma management team as they continue to acquire, build and operate quality-focused compounding

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facilities. We are encouraged by the strong market demand for their innovative, safety-oriented approach and will continue to commit significant resources in backing this industry-pioneering venture.”

QuVa Pharma is a recently formed company emerging as the leading industry 503B platform and partner of choice for compliance-oriented healthcare facilities looking to ensure a quality, safe and consistent supply of medications.

The company is committed to having a patient-first orientation, as well as a robust product portfolio, leading safety standards, and collaborative, partnership-oriented customer service. For more information, visit www.quvapharma.com.

Bain Capital, LLC is one of the world’s foremost private investment firms, with more than $75 billion under management across several asset classes including private equity, venture capital, public equity, credit products and absolute return. Founded in 1984, Bain Capital’s more than 400 professionals are collectively the single largest investor in all of its funds and are dedicated to investing in and building its portfolio companies.

Bain Capital Private Equity has a long history of investing in leading healthcare companies such as HCA, Quintiles, Warner Chilcott, Emcure Pharmaceuticals, Bio Products Laboratory, Beacon Health Options, Physio-Control, CRC Health, Grupo Notre Dame Intermedica, Navicure, and Air Medical Group Holdings, and across a broad range of sectors including service providers, facilities, life sciences, devices, and distribution.

FEATURE

REALTYMOGUL.COM CLOSES ANOTHER $8.49 MILLION IN TRANSACTIONS Online Crowdfunding Platform Helps Finance Multifamily Property Investments and Completes Additional Raises for Residential and Manufactured Housing Funds

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FEATURE

After becoming the first U.S. real estate crowdfunding platform to fully fund $200 million in transactions earlier this year, RealtyMogul.com has announced the closing of six recent transactions, including equity investments in commercial properties, mezzanine financing for an industrial conversion project and equity raises for two real estate funds.

“Our mission has always been to give regular investors broader access to the world of real estate investing,” said Jilliene Helman, CEO of RealtyMogul.com. “With each additional transaction, we’re opening the door a little wider.”

RealtyMogul.com is an online marketplace for real estate investing, giving individual investors real-time access to commercial real estate and professional real estate companies easier access to capital.

Through crowdfunding, RealtyMogul.com gives investors tools to browse investments, do due diligence, invest online and have 24/7 access to an investor dashboard to watch how their investments are performing. RealtyMogul.com partners with professional real estate companies to source investment opportunities and underwrites all of the investments. For these real estate companies, RealtyMogul. com offers JV and preferred equity as well as mezzanine and first position debt.

The firm’s latest transactions include the firm’s investment in the Georgia multifamily complex with appreciation potential.

During this transaction the firm’s investors provided $950,000 in financing for the acquisition of Westchester Apartments in Decatur, GA. The property is comprised of 24 units of 840 square feet each, distributed across six buildings. The sponsor for the investment has over $300 million in assets under management, focusing on student housing, residential development and apartment buildings across the Southeast and Midwest. The sponsor plans to undertake renovations and capital expenditures on the property that are to coincide with rent increases.

The firm also worked on the two additional raises of joint venture equity for singlefamily fund RealtyMogul.com invested an additional $900,000 into a single-family fund over two funding rounds. These are RealtyMogul’s third and fourth rounds of investment in the fund, bringing the total amount invested by RealtyMogul. com investors to over $4.4 million.

The fund currently owns single-family residential homes (SFRHs) throughout Southern California, Nevada and Georgia and intends to leverage the additional investment to acquire SFRHs under both “rent and hold” and “fix and flip” strategies. The sponsor of the fund has previously invested more than $1 billion in over 6,000 SFRHs on behalf of institutional clients and private investors.

Another key deal was the firms $1.3 million in joint venture equity in Beechmill Apartments, acquired for $15.8 million by the sponsor earlier this year. The Indianapolis-area property consists of 256 apartments ranging from 661 square feet to 905 square feet. This is RealtyMogul.com’s fourth equity transaction with the sponsor, which has managed over $230 million in multifamily assets across the country. The sponsor has determined that the property is currently renting at below-market rates, and it intends to implement an improvement plan aimed at bringing rents in line with the market.

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Another key deal was when the firm worked on the debt financing for California property acquisition and conversion providing $3.9 million in mezzanine financing for the acquisition and conversion of an industrial property in Garden Grove, CA. After the acquisition, the property is to be converted into an 896-unit self-storage facility for a total cost of $15.1 million. This sponsor has designed, developed, owned and managed over 100 self-storage facilities.

Finally, RealtyMogul.com invested $1.44 million in a mobile home park fund. The fund plans to invest in a diversified portfolio of cash-flowing manufactured housing communities (MHCs) across the country.

The fund’s manager, a top-five owner and manager of MHCs in the United States, sees this as an opportunity with the potential for immediate cash flow as well as capital appreciation. The manager has identified 18 geographically diverse, undervalued MHCs for potential acquisition. This investment is still open for funding through our platform at RealtyMogul.com.

“We’re always excited to see the kind of potential we can unlock through crowdfunding,” added Helman.

“Opportunities like these, which resulted from our ongoing collaboration with sponsors and investors, are testaments to what’s possible in a democratized real estate investing landscape.”

FEATURE

REPUBLIC SERVICES AND MAS ENERGY UNVEIL LATEST RENEWABLE ENERGY PROJECT Facilities Capable of Powering over 15,000 Households and Represents One of the Largest Landfill-Gas-To-Energy Portfolios in Georgia

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FEATURE

Republic Services, Inc. and Mas Energy, LLC have unveiled a new renewable energy project serving Metro Atlanta. The innovative project involves landfill gasto-energy facilities at three area landfills, located in the cities of Buford, Griffin and Winder. Together, these facilities are capable of generating 24.1 megawatts of electricity, or enough renewable energy to power 15,665 households.

“We believe in leading by example in everything we do,” said Jamey Amick, area president of Republic Services. “The modern landfill presents new opportunity to harness energy from yesterday’s waste and convert it to meet tomorrow’s energy needs. We are proud to partner once again with Mas Energy to generate a renewable energy source that makes a meaningful and lasting environmental difference in the state of Georgia.”

Nationwide, Republic Services companies send landfill gas to 69 landfill gas-toenergy projects, which taken together generate enough renewable energy to power more than 250,000 homes, or every household in the city of Atlanta.

it from here.TM, the brand’s promise, lets customers know they can count on Republic to provide a superior experience while fostering a sustainable Blue PlanetTM for future generations to enjoy a cleaner, safer and healthier world.

Other partners participating in Republic and Mas Energy’s latest renewable energy project include Georgia Power, I Squared Capital, Crowder Construction Company and Nixon Energy.

Mas Energy develops, owns and operates energy systems around the world, with a focus on renewable and clean energy— including wind, landfill gas, combined heat and power, geothermal, and district energy—as well as delivering critical energy systems in developing countries.

With more than 70 years of combined energy-development experience, the firm’s principals structure highly complex projects and transactions that mitigate risk and drive returns for some of the world’s largest companies, investors, utilities and other energy buyers.

Republic Services, Inc. is an industry leader in U.S. recycling and non-hazardous solid waste. Through its subsidiaries, Republic’s collection companies, recycling centers, transfer stations and landfills focus on providing effective solutions to make proper waste disposal effortless for their 14 million customers. The firm handle

Landfill gas-to-energy projects like these involve capturing methane, a byproduct of the normal decomposition of waste, from the subsurface and routing the methane to a series of engines. These engines convert the methane into electricity, which can be distributed to the local power grid.

According to the U.S. Environmental Protection Agency (EPA), 3 mW of renewable energy generated by landfill gas-to-energy projects is equal to preventing the carbon emissions emitted by the use 16.6 million gallons of gasoline.

Based upon EPA calculations, this project prevents carbon emissions that would otherwise be emitted by the use of more than 132 million gallons of gasoline.

Republic is dedicated to maintaining a balance between its business operations and protecting the environment and communities it serves. Known as the Blue Planet™ sustainability initiative, Republic has defined its approach to environmental responsibility through decreased vehicle emissions, innovative landfill technologies, use of renewable energy, community engagement and employee growth opportunities.

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FEATURE

RISE IN US EXISTING HOME SALES Existing-Home Sales Ascend Again, as First-Time Buyers Provide Spark

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FEATURE

Boosted by a greater share of sales to firsttime buyers not seen in nearly four years, existing-home sales maintained their upward trajectory in June and increased for the fourth consecutive month, according to the National Association of Realtors®. Only the Northeast saw a decline in closings in June, and sales to investors fell to their lowest overall share since July 2009.

Total existing-home sales, which are completed transactions that include singlefamily homes, townhomes, condominiums and co-ops, climbed 1.1% to a seasonally adjusted annual rate of 5.57 million in June from a downwardly revised 5.51 million in May. After last month’s gain, sales are now up 3.0% from June 2015 (5.41 million) and remain at their highest annual pace since February 2007 (5.79 million).

Lawrence Yun, NAR chief economist, says the impressive four-month streak of sales gains through June caps off a solid first half of 2016 for the housing market. “Existing sales rose again last month as more traditional buyers and fewer investors were able to close on a home despite many competitive areas with unrelenting supply and demand imbalances,” he said. “Sustained job growth as well as this year’s descent in mortgage rates is undoubtedly driving the appetite for home purchases.”

Lawrence is chief economist and senior vice president of research at the National Association of Realtors(r). Yun oversees and is responsible for a wide range of research activity for the association including NAR’s Existing Home Sales statistics, Affordability Index, and Home Buyers and Sellers Profile Report. He regularly provides commentary on real estate market trends for its 1 million Realtor(r) members.

He adds that caution is required going forward. “Looking ahead, it’s unclear if this current sales pace can further accelerate as record high stock prices, near-record low mortgage rates and solid job gains face off against a dearth of homes available for sale and lofty home prices that keep advancing.”

The median existing-home price for all housing types in June was $247,700, up 4.8% from June 2015 ($236,300). June’s price increase marks the 52nd consecutive month of yearover-year gains and surpasses May’s peak median sales price of $238,900.

Total housing inventory at the end of June dipped 0.9% to 2.12 million existing homes available for sale, and is now 5.8% lower than a year ago (2.25 million). Unsold inventory

is at a 4.6-month supply at the current sales pace, which is down from 4.7 months in May. The share of first-time buyers was 33% in June, which is up from 30% in May and a year ago and is the highest since July 2012 (34%).

Through the first six months of the year, firsttime buyers have represented an average of 31% of buyers; they were 30% in all of 2015.

“The modest bump in June sales to first-time buyers can be attributed to mortgage rates near all-time lows and perhaps a hopeful indication that more affordable, lower-priced homes are beginning to make their way onto the market,” adds Yun. “The odds of closing on a home are definitely higher right now for first-time buyers living in metro areas with tamer price growth and greater entry-level supply – particularly areas in the Midwest and parts of the South.”

All-cash sales were 22% of transactions in June, unchanged from both May and a year ago. Individual investors, who account for many cash sales, purchased 11% of homes in June (lowest since July 2009 at 9%), down from 13% in May and 12% a year ago. Sixtyfour percent of investors paid cash in June.

According to Freddie Mac, the average commitment rate for a 30-year, conventional, fixed-rate mortgage decreased from 3.60 percent in May to 3.57% in June. Mortgage rates have now fallen four straight months and in June were the lowest since May 2013 (3.54%). The average commitment rate for all of 2015 was 3.85%.

NAR President Tom Salomone, brokerowner of Real Estate II Inc. in Coral Springs, Florida, says Realtors® are thrilled that the U.S. Senate last week unanimously voted to pass H.R. 3700, the Housing Opportunity Through Modernization Act. “At a time of historically low mortgage rates, this is a huge win for prospective first-time and lowto moderate-income buyers interested in purchasing a condo,” he said. “Eliminating overly burdensome restrictions on condos will help more of these prospective buyers access financing and take advantage of this affordable entry point into homeownership.”

Properties typically stayed on the market for 34 days in June, an increase from 32 days in May but unchanged from a year ago. Short sales were on the market the longest at a median of 156 days in June, while foreclosures sold in 49 days and non-distressed homes took 30 days.

Forty-eight percent of homes sold in June were on the market for less than a month.

Inventory data from Realtor.com® reveals that the metropolitan statistical areas where

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listings stayed on the market the shortest amount of time in June were Wilson, N.C., and Jacksonville, N.C., both at a median of 22 days; San Jose-Sunnyvale-Santa Clara, Calif., 28 days; and San Francisco-Oakland-Hayward, Calif., Seattle-Tacoma-Bellevue, and DenverAurora-Lakewood, Colo., at 29 days.

Distressed sales – foreclosures and short sales – were 6% of sales in June, unchanged from May and down from 8% a year ago. Four percent of June sales were foreclosures (lowest since NAR began tracking in October 2008) and 2% were short sales. Foreclosures sold for an average discount of 11% below market value in June (12% in May), while short sales were discounted 18% (11% in May).

Additionally, single-family home sales increased 0.8% to a seasonally adjusted annual rate of 4.92 million in June from 4.88 million in May, and are now 3.1% higher than the 4.77 million pace a year ago. The median existing single-family home price was $249,800 in June, up 5.0 percent from June 2015.

Existing condominium and co-op sales grew 3.2% to a seasonally adjusted annual rate of 650,000 units in June from 630,000 in May, and are now 1.6% above June 2015 (640,000 units). The median existing condo price was $231,600 in June, which is 3.2% above a year ago.

Regionally, June existing-home sales in the Northeast declined 1.3% to an annual rate of 760,000, but are still 5.6% above a year ago. The median price in the Northeast was $284,800, which is 1.4% above June 2015.

In the Midwest, existing-home sales jumped 3.8% to an annual rate of 1.35 million in June, and are now 4.7% above June 2015. The median price in the Midwest was $199,900, up 5.7% from a year ago.

Existing-home sales in the South in June remained unchanged from May at an annual rate of 2.26 million, and are 3.2% above June 2015. The median price in the South was $217,400, up 5.5% from a year ago.

Existing-home sales in the West rose 1.7% to an annual rate of 1.20 million in June, but are still 0.8% below a year ago. The median price in the West was $350,800, which is 7.2% above June 2015.

The National Association of Realtors, which provided the survey, deems itself “The Voice for Real Estate,” and is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.

FEATURE

CFOS NEED TO BECOME ‘DIGITAL PIONEERS’ TO ELEVATE THEIR POSITION AND LEAD BUSINESS CHANGE

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FEATURE

Chief Financial Officers must embrace technology to future-proof their position and drive digital transformation in their organisation. This is according to a white paper, entitled the ‘The Connected CFO – a company’s secret silver bullet?’ produced by leading software provider, Advanced.

The paper highlights a recent KPMG survey* which found that 63% of CEOs believe that the CFO’s role will increase in significance over the next three years, compared to other C-suite positions.

However, only one in three of those surveyed felt that their CFO was up to this challenge.

As many finance tasks become automated, technology is changing the role of the CFO by enabling them to spend less time on gathering and comparing data, and more time on high-level, strategic activities.

Previously regarded as just the financial gatekeeper of the organisation, analytics tools and big data present CFOs with an opportunity to elevate their position by establishing themselves as digital pioneers and business enablers.

that they have the technical skills and knowledge required for their new role. A recent survey by CFO Research* of senior finance executives in the U.S. found that 93% believe the CFO of the future will need a much stronger technology skill set than at present. 64% said they had taken steps to upgrade their own skills, while 80% plan to do so in the coming year.

The white paper highlights analytics technology as being crucial for CFOs to take advantage of this opportunity. With a single dashboard of real-time data, reports can be produced more quickly and the CFO can play a major part in creating a more reactive and agile organisation.

The white paper claims that this changing role has significance for the whole business. By providing more valuable insight and analysis based on up-todate data, CFOs can strengthen their relationships with the CEO and the rest of the C-suite, as well as identify areas where improvements and efficiencies can be made.

Andrew Hicks, Chief Financial Officer of Advanced, says, “As the availability of data increases, both the business itself and its investors are becoming more informationhungry. The CFO tends to sit at that intersect point between operations and the numbers so they are ideally placed to interpret plans and improve business performance.

“Many organisations are only in the early stages of this transformation but the savvy CFO can seize the opportunity to drive real change and be seen as a leader. Businesses are crying out for that connected, end-to-end view of data across departments, and CFOs are in the position to deliver this.”

As technology and finance become more closely intertwined, CFOs must ensure

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Hicks concludes, “Technology and big data are going to play an increasingly prominent role in the CFO’s day-to-day job. This in turn gives the connected CFO greater information and power, offering them the opportunity to elevate their own position in the organisation as key strategic advisors and enablers of business change. A connected CFO can really be a silver bullet for a company.”

To read the white paper, ‘The Connected CFO – a company’s secret silver bullet? ‘, please click here.

listing

CEO 100 Osiris Entertainment LLC Name: Evan Crooke Email: evan@osirisent.com Web Address: osirisent.com State: California

Reliant Bank

Name: Devan D Ard Email: peterjehle@pjarcomet.com Web Address: pjarcomet.com State: Virginia

Pacific Clinics

Name: Janet Fischer Email: janet@pacificclinics.org Web Address: pacificclinics.org State: California

Todocast

Name: JBryan Hill Email: bryan.hill@todocast.tv Web Address: todocast.tv State: California

Travel Professional

Name: Jason Coleman Email: jason@jasoncoleman.us Web Address: jasoncoleman.us State: Ohio

Rock Valley FCU

Name: Michael T Rosek Email: mrosek@rvfcu.org Web Address: rvfcu.org State: Illinois

The Andora Group

Name: Mellanda Reese Email: mreese@theandoragroup.com Web Address: theandoragroup.com State: Georgia

Waterbury Hospital

Name: Stephen Laverty Email: slaverty@wtbyhosp.org Web Address: wtbyhosp.org State: Connecticut

Yorktel, Inc.

Name: Ronald J Gaboury Email: rgaboury@yorktel.com Web Address: yorktel.com State: New Jersey

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listing

Zhang-Sah

Name: Salvadore Sandone Email: ssandone@zhangsah.org Web Address: zhangsah.org State: Pennsylvania

Tiffany & Co.

Name: Michael J. Kowalski Email: michael.kowalski@tiffany.com Web Address: tiffany.com State: New York

Revell, Inc.

Name: George Foster Email: gfoster@revell.com Web Address: revell.com State: Illinois

OSC

Name: Larry Overby Email: larry@overby-seawell.com Web Address: overby-seawell.com State: Georgia

Performancy

Name: Ola Edvardsso Email: ola@performancy.com Web Address: performancy.com State: Michigan

Youthfront Inc

Name: Mike King Email: mking@youthfront.com Web Address: youthfront.com State: Kansas

Rockefeller Foundation

Name: Gordon Conway Email: gconway@hewittschool.org Web Address: hewittschool.org State: New York

Simulex

Name: Alok R Chaturvedi Email: alok@simulexinc.com Web Address: simulexinc.com State: Indiana

Pegasus LLC

Name: Fernando Pierio Email: fernando@pegasusbus.com Web Address: pegasusbus.com State: Florida

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FA160005

ABOUT PLAN B TECHNOLOGIES, INC. Plan B Technologies, Inc. (PBT) is an IT solutions and professional services provider headquartered in the Mid-Atlantic. From the datacenter to device, PBT’s areas of expertise include: storage area networking, backup, recovery and archiving, security and network infrastructure, Microsoft solutions and cloud virtualization solutions for infrastructure, applications, and desktops.

PBT delivers a complete lifecycle of professional services including project management, education, consultation, assessment, design, planning, deployment, support and staff augmentation.

Professional services are delivered by system consultant/integrators who are cross-trained with over 300 technical certifications. PBT listens carefully to every customer, striving to deliver the right solution – unbiased by product – enabling our customers to achieve their business objectives, stability and success.

MISSION Guided by the values of our 6 Cs (committed, competent, consistent, courageous, community, character), we will maximize the potential of IT through the power of our engineered solutions.

START WITH AN ASSESSMENT! PBT will conduct a review of your current state to proactively identify issues related to stability, performance, capacity and ease of administration.

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