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Pocket MBA 2018: Finance for Lawyers and Other Professionals


Speaker(s): Andrew Monroe, Anna T. Pinedo, Brittany Cadwalader, Bryan Ketroser, Catherine E. Moreno, Charmaine Wilson, David Goad, Greg Halm, Ilene K. Froom, Jack Jones, Jeremy M. Weitz, M. Todd Scott, Marvin G. Padilla, Michael Bartuska, Nina L. Flax, Rajay Desai, Rodin M. Hai-Jew, Ryan T. Miller, Seth Goldman, Subadra Rajappa, Torben Voetmann, Ph.D., Xavier Oustalniol
Recorded on: Oct. 1, 2018
PLI Program #: 219479

Anna Pinedo is a partner in Mayer Brown’s New York office and co-leader of the firm’s Global Capital Markets practice. She concentrates her practice on securities and derivatives. Anna represents issuers, investment banks/financial intermediaries and investors in financing transactions, including public offerings and private placements of equity and debt securities, as well as structured notes and other hybrid and structured products.

She works closely with financial institutions to create and structure innovative financing techniques, including new securities distribution methodologies and financial products. She has particular financing experience in certain industries, including technology, telecommunications, healthcare, financial institutions, REITs and consumer finance. Anna has worked closely with foreign private issuers in their securities offerings in the United States and in the Euro markets. She also works with financial institutions in connection with international offerings of equity and debt securities, equity- and credit-linked notes, and hybrid and structured products, as well as medium term note and other continuous offering programs.

Anna regularly speaks at conferences and participates in panel discussions addressing securities law issues, as well as the securities issues arising in connection with derivatives and other financial products. She is the co-author of JOBS Act Quick Start, published by International Financial Law Review (2013; updated 2014, 2016); a contributor to OTC Derivatives Regulation Under Dodd-Frank: A Guide to Registration, Reporting, Business Conduct, and Clearing (Thomson Reuters, first ed. 2014, second ed. 2015, third ed. 2016, fourth ed. 2017); co-author of Considerations for Foreign Banks Financing in the US, published by International Financial Law Review (2012; updated 2014, 2016); Liability Management: An Overview (2011, updated 2015), published by International Financial Law Review; co-author of Structuring Liability Management Transactions (2018), published by International Financial Law Review; co-author of Covered Bonds Handbook, published by Practising Law Institute (2010, updated 2012-2014); co-author of the treatise Exempt and Hybrid Securities Offerings, published by Practising Law Institute (2009, second ed. 2011, updated 2014, third ed. 2017); and co-author of BNA Tax and Accounting Portfolio: SEC Reporting Issues for Foreign Private Issuers (BNA Accounting Policy and Practice Series, 2009, second ed. 2012, updated 2016). Anna is also a contributing author to Broker-Dealer Regulation (2011, second ed. 2012, updated 2019), published by Practising Law Institute. She co-authored "The Approaches to Bank Resolution," a chapter in Bank Resolution: The European Regime (Oxford University Press, 2016). Anna contributed to The Future of Bank Funding and Capital: Solutions for Issuers, Opportunities for Investors (IFR Market Intelligence, 2009). Additionally, Anna co-authored "The Ties that Bind: The Prime-Brokerage Regulation," a chapter in Global Financial Crisis (Globe Law and Business, 2009); "The Law: Legal and Regulatory Framework," a chapter in PIPEs: A Guide to Private Investments in Public Equity (Bloomberg, 2006); and "The Impact Security: Reimagining the Nonprofit Capital Market," a chapter in What Matters: Investing in Results to Build Strong, Vibrant Communities (Federal Reserve Bank of San Francisco and Nonprofit Finance Fund, 2017). Anna is a contributor to Practising Law Institute’s "BD/IA: Regulation in Focus" blog.

Anna has been ranked by Chambers USA as one of America's leading lawyers for Capital Markets: Derivatives and Capital Markets: Structured Products and has been recognized as a notable lawyer for Financial Services Regulation: Broker Dealer (Compliance). Chambers Global has ranked Anna as one of the world's leading lawyers (recommended in Capital Markets: Structured Products). She also is ranked as a “Market Leader” for Capital Markets in the IFLR1000 Guide to Leading Lawyers, the highest individual distinction given by the guide. Anna is ranked as a leading lawyer for Structured finance: derivatives and structured products and listed as a recommended lawyer in Capital markets: debt, high-yield debt, equity, and global offerings, and Structured finance: securitization by the Legal 500 US.


Catherine Moreno is a partner in the Palo Alto office of Wilson Sonsini Goodrich & Rosati. Catherine specializes in securities litigation and counseling, including the defense of companies and their directors and officers in class actions, derivative lawsuits, and M&A litigation. She also is experienced with internal investigations and in defending companies and individuals in SEC enforcement proceedings involving allegations of insider trading, securities fraud, and reporting violations. In addition, Catherine is experienced in a variety of commercial litigation matters and is a frequent speaker and lecturer on issues of securities fraud, accounting misstatements, and insider trading.

Catherine maintains an active pro bono practice and has been honored for her work on civil rights impact litigation.


Charmaine Wilson is a Deloitte Advisory Senior Manager in the Deloitte & Touche LLP Internal Audit practice. Charmaine has over 14 years of experience serving the technology and media industries.  Charmaine serves her clients in various aspects, including Internal Audit, External Audit, Regulatory Compliance and SOX-Readiness, specifically focusing on the following types of engagements:

  • Building SOX programs and leading global SOX efforts
  • Performing risk assessments and executing strategic, operational and financial audits
  • Building and executing global compliance programs
  • Performing fraud risk assessments
  • Evaluating risks and exposures related to new business models
  • Enhancing the use of tools and data analytics throughout the organization

In addition to her client service role, Charmaine also facilitates Deloitte’s national technology courses, specifically for software, hardware and semiconductors.  Charmaine is also a frequent instructor nationally for the Institute of Internal Auditors (IIA) and has instructed courses related to controls for local IIA chapters and universities.

Experience

 Internal Audit

  • Leads Internal Audit engagements that involve advisory and compliance-related audits in all areas of the business (e.g., Finance, HR, Operations, Supply Chain)
  • Leads IT-Internal Audit engagements, including Cyber Security, Disaster Recovery, Intellectual Property Protection, implementation reviews, Segregation of Duties

Business, Technology and Fraud Risk

  • Works with management to perform risk assessments and evaluate potential exposures in the areas of new/changing business models and fraud risk
  • Helps management identify and implement data analytics to help enhance oversight and monitoring for identified risks
  • Works with Deloitte’s forensics team on fraud investigations

Global Compliance

  • Helps companies manage global compliance by integrating efforts between legal, finance, and other functions to evaluate compliance risk and controls

SOX and Pre-IPO Readiness

  • Leads several global SOX programs
  • Experienced in the evaluation of risk and control matrices for opportunities to improve processes, reduce SOX efforts and improve automation within systems.
  • Experienced in designing and executing global SOX training programs
  • Leads large pre-IPO engagements that involves helping management create scalable processes and establish key policies and controls.


David Goad is a Senior Director in FTI’s Corporate Finance & Restructuring practice and is based in Seattle. Mr. Goad has over 8 years of experience advising bank syndicates, private placement noteholders, creditor committees, and other stakeholders in restructuring and workout situations, including serving as liquidating trustee of bankruptcy estates. His engagements have included public and private companies in the automotive, energy, financial, grocery retail, manufacturing, mining, and telecommunications industries. Mr. Goad has diverse energy experience, including advising various stakeholders of exploration & production, onshore and offshore oilfield services, and power companies.

Mr. Goad has successfully executed numerous out-of-court workouts and amendments, as well as in-court Chapter 11, state court receivership, and international insolvency proceedings. Mr. Goad’s financial advisory experience includes evaluating strategic alternatives; negotiating with key stakeholders; assessing and setting covenant levels; preparing financial projections; conducting reviews and assessments of business plans, optimal capital structure, and liquidity needs; preparing creditor recovery analyses; and reviewing and assessing plans of reorganization and other key bankruptcy documents. Post-insolvency, Mr. Goad’s liquidating trustee experience includes claims reconciliation, preference analysis, prosecution of avoidance actions, and trust administration.

Selected recent engagements include the following: A&P, Blitz USA, Centaur, Delta Petroleum, Energy Future Holdings, Energy & Exploration Partners, GenMa, Intrepid Potash, RCS Capital Corporation, Takata, TerreStar, and numerous non-public engagements (including in the power, oilfield services, manufacturing, and death care industries).

Mr. Goad holds a B.S. in Accountancy and Finance from Villanova University. He is a member of the Association of Insolvency & Restructuring Advisors and the Turnaround Management Association.


Greg Halm specializes in providing forensic accounting, and financial and economic consulting services related to complex commercial disputes. Mr. Halm has consulted on numerous damages analysis engagements and has provided expert testimony on damages in Federal District Court. Mr. Halm has consulted on numerous disputes related to the consumer lending industry and on other financial consulting and forensic accounting engagements involving, among other things, the valuation of businesses and ownership interests, the analysis of business models and structures, forensic analysis of complex transactions, reconstruction of financial statements, and analysis of financial models.


Ilene K. Froom is a partner in the Financial Industry Group in the New York office of Reed Smith LLP. She advises on, negotiates, and structures derivatives transactions and related documentation. She represents both buyside and sellside clients and works on onshore and offshore equity derivatives transactions, including total return swaps, hedging and monetization strategies, such as collars, collar/loans, and prepaid variable forwards, volatility and variance swaps, dividend swaps, correlation, and dispersion trades; access products; and customized transactions. She also has an extensive background in fixed income and foreign exchange transactions, including repos, swaps, cross-currency swaps, swaptions, straddles, caps, floors, collars, range accruals, deliverable and non-deliverable FX options and forwards, knock-out and knock-in trades, barrier trades and customized transactions. Ilene works on global equity swap MCAs, equity option MCAs, long form Confirmations, ISDA Master Agreements, including CSAs that reflect VM and IM margin regulations, prime brokerage agreements, MRAs, GMRAs, MSFTAs, security control agreements, and other trading agreements. Ilene also drafted three Protocols for the International Swaps and Derivatives Association (ISDA): the ISDA 2013 Discontinued Rates Maturities Protocol, the ISDA 2014 Collateral Agreement Negative Interest Protocol and the ISDA 2017 OTC Equity Derivatives T+2 Settlement Cycle Protocol.

Prior to joining Reed Smith, Ilene worked at Jones Day and was also in house at JPMorgan Chase Bank.

Ilene is extremely knowledgeable about ISDA documentation and is active in ISDA working groups and committees. She participated heavily in the ISDA working groups that developed the 2002 ISDA Equity Derivatives Definitions and the 2011 ISDA Equity Derivatives Definitions.

A graduate of New York University Law School, Ilene was a former chairperson of the New York State Bar Association's Derivatives and Structured Products Committee. She is on the Board of Women in Derivatives and is a member of the New York City Bar Association‘s Committee on Futures and Derivatives.

Education

  • New York University School of Law, J.D.
  • Brandeis University, B.A.


Jeremy Weitz is a Shareholder and Co-Chair of the Firm’s Corporate Practice Group. Mr. Weitz’s expertise covers mergers and acquisitions, private equity, publicly and privately traded securities, corporate maintenance and formation, corporate finance, and licensing. He represents clients in a variety of industries, including apparel, retail, beauty, food, entertainment, computer software, e-commerce, aerospace and defense, manufacturing, and investment banking that range in size from small start-ups to multi-billion dollar publicly traded corporations. Mr. Weitz routinely serves as outside general counsel for his corporate clients.

Mr. Weitz represents both buyers and sellers in merger and acquisition transactions. Mr. Weitz’s mergers and acquisitions practice is focused on the middle market with transaction values ranging between $10 million up to $3 billion.

Mr. Weitz routinely lectures on mergers and acquisitions and the apparel industry. He has also served as a faculty lecturer for the Practising Law Institute where he has lectured on mergers and acquisitions and financing transactions.

Mr. Weitz is also Co-Chair of the Firm’s Consumer Products’ Industry Practice Group and former Chair of the Firm’s Apparel Industry Practice Group. Mr. Weitz’s apparel industry practice includes representation of manufacturers, importers and retailers. His experience in the apparel industry includes mergers and acquisitions, finance, commercial law, financial and business planning, licensing, copyright and trademark matters and corporate law.

In the community, Mr. Weitz is the former President and current Board Member of the Apparel Industries Group for the City of Hope. He has also served as both Dinner Chair and Fundraising Chair for this group. Mr. Weitz is also a past President and board member of The Professionals Club (formerly, the Textile Professionals Club or TPC) which is a networking group for professionals from a wide range of business backgrounds, including accountants, investment bankers, commercial bankers, lawyers, property agents and developers, financial advisors, and other professionals who serve the local business community.

Mr. Weitz was selected as one of Southern California’s Super Lawyers from 2018 – 2019 and was also selected as a Southern California Rising Star from 2006 – 2008, 2013.


Rodin M. Hai-Jew is a partner in the Corporate Transactional Group, where he concentrates his practice on complex business transactions, including carve-out transactions, mergers, acquisitions, divestitures, leveraged buyouts of public and private companies, debt and equity restructurings, recapitalizations, private equity and venture capital investments, minority equity investments, investment exits (including sales to financial or strategic acquirers or to the public markets), executive compensation and equity incentive arrangements, and related general corporate counseling.

Rodin has represented public and private companies and private equity/venture capital funds in transactions ranging in size from several million dollars to over $1 billion dollars, both domestically and in cross-border transactions. His practice covers a wide variety of industries, including software, food and consumer products, retail, chemicals, transportation, professional services, marketing, automotive supply, manufacturing, technology and data hosting. Representative clients include public companies, a wide range of private equity funds with hundreds of millions to billions of dollars under management and their subsidiaries or portfolio companies.


Ryan Miller is the Managing Director at Deloitte Transactions and Business Analytics LLP (“DTBA”) in the San Francisco office.  He leads the West Coast Financial Services Business Valuation practice and has over 18 years of global financial consulting and valuation experience with public and private businesses in the U.S. and UK.

Experience

Ryan’s primary focus is in the banking and financial institution industry and has provided financial consulting, financial modeling, and valuation services to national, regional, and community banks.  He has also provided services to bank subsidiaries involved in broker dealer activities, private wealth management, mortgage origination, and insurance.  While at DTBA, he has performed valuations for mergers & acquisitions, purchase price allocations, gift and estate tax planning, litigation, fresh start accounting, and other special projects.  He has extensive experience valuing banks and other financial institutions, loan portfolios, CDI, time deposits, TruPS, FHLB advances and FDIC indemnification assets.  In addition, Ryan has also developed financial and valuation models for banks for resolution planning purposes (for both 165(d) and CIDI plans).

In addition to financial services, Ryan’s experience also includes construction materials, semiconductors, telecommunications, technology, transportation, professional services, and various specialty retail and manufacturing industries.

Certification and Licensure

Chartered Financial Analyst (CFA)

Education

Texas Christian University, BA

Texas Christian University, MBA


Seth Goldman is a bankruptcy partner in the Los Angeles office of Munger, Tolles & Olson. Mr. Goldman’s practice includes representing debtors, creditors, shareholders, independent directors and special board committees, official and ad hoc committees, investors in corporate restructurings and parties in bankruptcy-related litigation.

Mr. Goldman’s public representations include:

  • iHeart Communications in its restructuring.
  • Berry Petroleum Company LLC in its bankruptcy case.
  • Payless Holdings LLC in its bankruptcy case.
  • The Gymboree Corporation in its bankruptcy case.
  • First Lien & DIP Lender in Freedom Communications.
  • Texas Competitive Electric Holdings LLC group of companies in the Energy Future Holdings bankruptcy cases.
  • Edison International in the Edison Mission Energy bankruptcy cases.
  • Berkshire Hathaway Inc. in the Residential Capital LLC bankruptcy cases.
  • The Official Committee of Syms Equity Securities Holders in the Chapter 11 reorganization of Syms Corp./Filene’s Basement.
  • Wasserstein & Co. in the Harry & David bankruptcy cases.
  • Southern California Edison in the Calpine, A123, Cal Solar 10, and Clear Peak bankruptcy cases.
  • Pasadena Playhouse, serving as debtor's counsel, in reorganizing the more than 100-year-old cultural institution.

Mr. Goldman frequently writes and lectures on issues in bankruptcy and is a contributing author to Collier on Bankruptcy, as well as a former governor and current treasurer for the Financial Lawyers Conference.

Education

  • Harvard Law School (J.D., magna cum laude, 2002); member, Journal of Law and Technology; teaching assistant, International tax program; Addison Brown Prize, 2002
  • University of Chicago (B.A., with honors, 1994) Phi Beta Kappa


Subadra Rajappa joined Société Générale in October 2014 as Head of US Rates Strategy. In her current role she is responsible for publishing thematic research on US rates markets and highlighting relevant trading opportunities. She is a frequent speaker at internal and industry conferences where she presents her broader market views to the firm’s clients. She currently represents SG at the alternative reference rate committee (ARRC) and is actively involved in discussions with industry groups around transitioning to the new reference rate.

Subadra has over 20 years of experience in the financial industry. Previous at Morgan Stanley, she was a senior rates strategist focused on macro themes in the rates markets. She was the lead strategist covering many topics and presenting in-depth research in fixed-income derivatives, inflation, money markets and the evolving regulatory environment.

Subadra has extensive experience in global fixed-income markets including positions in research, sales and strategy at Morgan Stanley and Citigroup. She has a strong quantitative background and started her career in finance at Salomon Brothers as a quantitative analyst where she focused on emerging market derivatives and credit derivatives before transitioning to rates.


Xavier Oustalniol, a Partner with StoneTurn in San Francisco, brings approximately 30 years of combined experience as an auditor, forensic accountant and litigation consultant. He has also assisted clients including the government and public defenders dealing with fraud, anti-corruption, and other Ponzi scheme issues, False Claims Act and Qui Tam cases.

Xavier has testified as an accounting expert on the application of Generally Accepted Accounting Principles and other financial issues at trial, deposition and in arbitrations. He has authored expert reports, declarations and assisted with the preparation of experts for deposition and testimony. He also assisted counsel with deposition preparation of opposing experts and fact witnesses, and responses to Wells submissions.

He has assisted clients (debtors, creditors, trustees) in a number of bankruptcy-related litigations (including Enron, Lehman, Washington Mutual) and other accounting investigations, including during settlement negotiations and mediation.

Xavier has directed complex forensic accounting investigations for boards where regulators such as the U.S. Securities and Exchange Commission (SEC), U.S. Department of Justice (DOJ) and the Financial Industry Regulatory Authority FINR”) were involved. He consulted on other cross-border disputes before the International Centre for Settlement of Investment Disputes (ICSID), the American Arbitration Association (AAA) and the International Chamber of Commerce (ICC), involving companies in Europe, South and Central America and Japan.

Prior to joining StoneTurn, Xavier was a Managing Director with the Global Forensic and Dispute Services practice of a global consulting firm. Previously, he was with two other global professional services firms. He began his career as an auditor with Deloitte.

Xavier is a Certified Public Accountant (licensed in the states of California and New York), Certified in Financial Forensics and a Certified Insolvency and Restructuring Advisor. He is fluent in French.


As comfortable arguing to a jury as he is to an appellate panel, Bryan Ketroser concentrates his practice on securities litigation, complex commercial litigation and SEC investigations.  He represents technology companies, entrepreneurs, officers, directors, employees and shareholders in high-stakes matters in California, Delaware and other courts throughout the U.S.

Prior to joining Alto Litigation, Bryan was an associate in the litigation group of Wilson Sonsini Goodrich & Rosati, and served as an Assistant District Attorney for the San Francisco District Attorney’s Office.

Benchmark Litigation has named Bryan to its 40 & Under Hot List (2018) and identified Bryan as a California Star (2019).

Education

  • Yale Law School, (J.D., 2005)
    Senior Editor, Yale Law Journal
    Submissions Editor, Yale Law & Policy Review
  • Brandeis University (B.A., summa cum laude, 2002)
    Linguistics
    East Asian Studies

Practice Areas

  • Commercial Litigation
  • Securities Litigation
  • SEC Investigations

Recent Publications

  • “10 Pitfalls For Shareholder Derivative Litigations,” Law360, November 16, 2018
  • “Demand Futility in the 9th Circuit,” Daily Journal, November 14, 2018

Professional Associations & Activities

  • Member, State Bar of California
  • Admissions:  Ninth Circuit Court of Appeals and California’s federal district courts


Dr. Voetmann is a Principal in The Brattle Group’s San Francisco office and an adjunct professor at the University of San Francisco’s School of Management. He consult on cases related to accounting, corporate finance, capital markets, financial institutions, insider trading, and internal investigations. Dr. Voetmann has testified and consulted on issues related to financial econometrics (i.e., the application of statistical methods within an economic framework), event studies, and market efficiency, damages, and materiality in securities fraud and misrepresentation cases. Dr. Voetmann has also testified and consulted on valuation issues related to mergers and acquisitions, appraisal actions, and other disputes involving valuation of private and public companies, illiquidity securities, employee stock options, and minority interests.

Dr. Voetmann has worked with multiple experts and is experienced in all phases of litigation, including deposition, mediation, arbitration, and trial. His case experience covers a range of industries, including financial institutions, consumer products, telecommunications, technology, and manufacturing. He has directed research in various prominent matters, including In re AOL Time Warner Inc. Securities Litigation, In re Xcelera Securities Litigation, Metropolitan Creditors' Trust et al. v. Ernst & Young and In re Apollo Securities Litigation.

Dr. Voetmann's securities experience includes Rule 10b-5 and Section 11/12 class actions, including those involving options and other derivative securities. In these cases, he has led large case teams that have addressed market efficiency, loss causation, and estimation of aggregate damages. His experience also includes calculating damages related to improper revenue recognition, bankruptcy, earnings restatements, material omissions, employee stock options, insider trading, private equity, and disputed merger terms. 

Dr. Voetmann has published in finance journals, including the Journal of Corporate Finance, Review of Finance and the European Journal of Finance, and has authored a chapter on event studies in Financial Modeling. He has taught undergraduate and graduate-level courses in corporate finance and security analysis at the Wharton School, University of Pennsylvania and graduate-level courses in corporate finance, managerial finance, capital markets and investment banking at the University of San Francisco.


I am a senior manager in our Financial Services practice with over six years of audit and assurance experience. I predominantly serve our financial technology (“fin-tech”) and investment management clients in the Bay Area and Los Angeles markets. I have extensive experience serving public companies within the Financial Services industry; including banking and brokerage clients, fin-tech clients, and publically traded investment funds such as business development companies or BDCs. I also spend a substantial amount of my time serving private investment funds and venture-backed fin-tech start-ups.

While on these engagement, I’ve developed a strong understanding of complex accounting issues, particularly relating to consolidation, stock-based compensation expense, business combinations, goodwill, and segment reporting. In addition, I have experience related to the offering of securities in both the private and public markets and assisting on other SEC filings.

In addition to my time at Deloitte, I recently spent two years working in the finance department of a large publically traded alternative asset management company based in Los Angeles. My focus during that time was on operational aspects of the business including cash management, treasury, and expense management.

Industry/sector specialization   

Financial Services – Investment Management

Financial Services – Financial Technology

Financial Services – Banking & Securities

Education    

Bachelor of Science in Business Administration, Emphasis in Accounting (Cum Laude)

Professional certifications          

Certified Public Accountant, California Board of Accountancy

 


I am a senior manager in our Technology and Consumer Business practices with over eight years of audit experience. I have extensive experience serving public companies within the Consumer Business industry; and—since having transferred to the San Francisco office in 2015—I have experience serving venture-backed growth enterprises within the Technology industry.

While on these engagement, I’ve developed a strong understanding of complex accounting issues, particularly relating to revenue recognition, stock-based compensation expense, and business combinations, as well as other highly subjective areas, including but not limited to self-insurance reserves and pension and postretirement benefit liabilities. In addition, I have experience related to the offering of securities in both the private and public markets and assisting on other SEC filings.

I am also an Engagement Quality Control Reviewer (EQCR) assistant for several other clients and enjoy facilitating audit training seminars for our young professionals, both locally and at Deloitte University.

In the last year, I have begun to advise client on technical matters which includes revenue recognition, business combinations, consolidation, leases, and many other topics to assist them in applying U.S. GAAP to their financial statements.

Industry/sector specialization   

Technology, Media, & Telecom – Technology

Consumer Business – Retail & Distribution

Consumer Business – Travel, Hospitality, & Services

Education    

Bachelor of Science in Accountancy, Marist College

Professional certifications          

Certified Public Accountant, California Board of Accountancy, 2016

Certified Public Accountant, New Jersey Board of Accountancy, 2013


I am an audit & assurance senior manager in Deloitte’s Investment Management practice, based in San Francisco.  I have over eight years of experience providing audit and other attestation services to investment companies, including mutual funds, hedge funds, and specialty finance companies.  Most recently I have been working with investment management firms dealing in marketplace lending, business development companies, private equity and private debt funds.

I started my career with Deloitte’s Orange County audit practice, before doing a two-year rotation in Luxembourg as part of Deloitte’s Global Deployment Program.  While in Luxembourg, I served multinational investment managers, leading audits of regulated investment funds and management companies, and participated in cross border audits with other EU and US Deloitte offices.

In addition to providing financial statement audit services, I have experience performing GIPS verifications and audits of SOC 1 internal controls reports.

Selected Experience

  • Deloitte & Touche LLP, San Francisco, CA

    June 2016 – Present

  • Deloitte Audit Sàrl, Luxembourg

    June 2014 – May 2016

  • Deloitte & Touche LLP, Costa Mesa, CA

October 2009 – May 2014

Industry/sector specialization

Financial Services – Investment Management

Education

Bachelor of Science, Accounting, Azusa Pacific University

Professional certifications

Certified Public Accountant, California Board of Accountancy, 2011


I am an audit senior manager in the investment management and financial services practice in the Bay Area.  I have nine years of international professional experience serving private equity, venture capital, hedge funds, fund of funds, multinational banks, financial technology, and asset managers throughout the San Francisco Bay Area/ Silicon Valley and across the United Kingdom. 

I have worked in both the San Francisco and London offices of Deloitte serving audit clients and specializing in valuation analysis and ensuring newly IPO’d companies are in compliance with PCAOB regulations.  My role as an auditor has been to provide unwavering client service and to protect the interests of the investing public as well as advise my clients on technical accounting matters.  I am familiar with accounting requirements under both US GAAP and IFRS / UK GAAP.

Additionally, I have worked as a consultant with Deloitte advising and assisting clients on back office finance technology implementations including assessment for automation/robotics and design of systems for target operating models.  My work as a consultant also included project managing significant internal projects to allow my clients to be in compliance with the changing regulatory landscape.

I enjoy facilitating internal trainings for our younger employees to provide them with the tools that they need to succeed and adhere to the standards that we uphold as public accountants.

Industry/sector specialization   

Financial Services – Investment Management

Financial Services – Financial Technology

Education    

Bachelor of Science in Business Administration, University of Illinois

Master of Accounting Science, University of Illinois

Professional certifications          

Certified Public Accountant, California Board of Accountancy, 2012


Marvin is the Head of Apparel & Retail at Intrepid. He has more than 17 years of experience advising entrepreneurs and middle-market companies on mergers and acquisitions transactions and other corporate finance activities. He has led transactions in a variety of industries including apparel, footwear, beauty and personal care, branded consumer products, plastics packaging, and automotive aftermarket products.

Prior to joining Intrepid, Marvin worked at the Sage Group, where he executed advisory assignments for clients in a variety of branded consumer market segments, with a particular focus on the apparel and personal care sector. Prior to joining Sage, he worked in the Los Angeles office of UBS Investment Bank, where he focused on M&A and restructuring transactions for companies in diverse industries. Previously, he was an investment banker in New York, where he worked for Salomon Smith Barney and, subsequently, Thomas Weisel Partners.

Marvin is a veteran of the United States Marine Corps and served as an infantry sergeant in Operation Iraqi Freedom. During his free time, he loves to adventure and explore, from the beaches and rain forests of Costa Rica to the Red Fort in Old Delhi, as well as local hikes in the Santa Monica Mountains.


Rajay is a Managing Director in the West Coast Investment Management group with over 13 years of experience. Rajay has served large public and private clients in the asset management and securities industries.  Rajay has extensive experience auditing investment funds, including mutual funds, business development companies, hedge funds, fund of funds, private equity and venture capital funds.

Rajay spent three years in Deloitte’s New York City office before transferring to San Francisco and serves as a leader in the Bay Area Investment Management Group.

Education & Certifications

  • Bachelor of Science – CPA Accounting and Finance; Minor: Mathematics
  • New York University
  • Certified Public Accountant (California)


M. Todd Scott, a senior associate in the San Francisco office, is a member of the Securities Litigation, Investigations and Enforcement Group. His practice focuses on shareholder derivative suits, securities class actions, other complex business litigation and corporate governance counseling.

Todd has represented numerous corporations, directors and officers in federal securities class actions, SEC enforcement actions and shareholder derivative suits, at arbitration and on appeal. Todd also regularly advises companies on questions of corporate governance, fiduciary duties and disclosure obligations, and has extensive experience in responding to shareholder litigation demands and books and records requests.

Before joining the firm, Todd was an associate at the San Francisco office of Clifford Chance US LLP. In his spare time, Todd is a musician, author and father to three amazing children.

Education

  • J.D., Northwestern University School of Law, 2003, cum laude
  • M.A., Critical Theory, Portland State University, 2000
  • B.A., English, Emory University, 1993

Memberships

  • American Bar Association
  • State Bar of California
  • Association of Business Trial Lawyers


Nina Flax is a Corporate & Securities partner in Mayer Brown's Palo Alto office. Her practice focuses on M&A, joint ventures, venture capital investing, commercial transactions and general corporate matters.

Lauded by clients as "incredibly gifted" (Legal 500 US), Nina represents buyers and sellers in connection with domestic and international stock and asset acquisitions and divestitures as well as mergers. She assists clients in negotiating and establishing domestic and international joint ventures and consortiums. She represents clients in connection with financing of startups as well as founds in the formation of startups and in exit transactions. Nina also counsels clients regarding commercial transactions, including intellectual property licenses, co-development agreements, application integration agreements and technology alliance agreements.

Nina represents US, foreign and multinational corporations, private equity firms and other public and private entities across a wide range of industries, including technology, IoT, SaaS, financial services, mobility, professional services, hospitality and leisure, gaming, agribusiness, and chemicals industries.

Nina is an active member of Mayer Brown’s Committee on Diversity and Inclusion and Mayer Brown’s Recruiting Committee.