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Statement 157 Speakers
Stamos C. Nicholas
Principal, Valuation Services
Deloitte Financial Advisory Services LLP
Mr. Nicholas is a principal in the Valuation Services practice of Deloitte Financial Advisory Services LLP. He is the national leader of the Business Valuation service line practice. He has more than 25 years of experience in providing valuation and financial valuation consulting services worldwide for the purposes of accounting, tax planning, financing, bankruptcy, litigation, mergers and acquisitions, and investment. Mr. Nicholas has particular experience in the valuation of intellectual property (i.e., patents, proprietary technology, trademarks, trade names, customer intangibles, copyrights, agreements, etc.).
Mr. Nicholas has extensive experience serving national and multinational companies such as financial services, manufacturing, media/entertainment, natural resources, consumer businesses, technology and life sciences, etc.
Additionally, Mr. Nicholas has supervised large, complex multidiscipline (real estate, machinery and equipment, and financial) valuation engagements and has performed several transfer pricing studies for multinational corporations.
He has testified as a valuation expert on business enterprises and intellectual property in various courts of law (including bankruptcy court) and has extensive experience in dealing with the IRS, SEC and other regulatory and tax authorities worldwide on valuation issues.
Additionally, Mr. Nicholas has been a formal speaker and presenter to many industry organizations and professional groups such as the American Society of Appraisers, Tax Executive Institute, Emerging Issues Task Force (“EITF”) Advisor on Customer Relationships, Financial Executive Institute for Biosciences, Pharma Association, National Restaurant Association, New York State Society of CPAs, New Jersey State Society of CPAs, Deloitte Regional Bank Forum, Financial Executives International (“FEI”) Committee Member on Business Combinations, and a Private Equity Valuation and Performance Reporting conference at Dartmouth Tuck School of Business.
Richard
Marshall
Partner
Ropes & Gray, LLP
Richard Marshall is a partner in the Investment
Management and Securities Litigation groups of Ropes & Gray. Since entering
private practice, Rick has conducted compliance reviews and provided
compliance counseling for investment companies, investment advisers, hedge
funds, and broker-dealers; represented individuals and regulated entities in
inspections, investigations, and litigation against the Securities and
Exchange Commission, self-regulatory organizations, state securities
regulators, and U.S. Attorney's offices; created hedge funds; provided
advice on the creation of new products for investment companies, investment
advisers, hedge funds, and broker-dealers; and counseled investment
companies, investment advisers, hedge funds, and broker-dealers on
regulatory matters.
Before joining Ropes & Gray, Rick had been Senior Associate Regional
Administrator in the New York office of the Securities and Exchange
Commission. In that position, he supervised a staff of seventy that
conducted inspections of investment companies and advisers in the New York
region and oversaw enforcement matters related to those entities. Rick has
also been a branch chief in the Division of Enforcement of the Securities
and Exchange Commission in Washington, D.C.
Mark L. Zyla
CPA/ABV, CFA, ASA
Acuitas, Inc.
Mark L. Zyla is a Managing Director of Acuitas, Inc. an Atlanta Georgia based valuation and litigation consultancy firm. Mark has provided valuation consulting for various types of entities for the purposes of mergers and acquisitions, financial reporting, tax planning, corporate recapitalizations, as well valuing various types of intellectual property and other intangible assets for many purposes. Prior to rejoining Acuitas, he was a Principal with a national business valuation and financial advisory firm. Additionally, he was formerly a practice leader for PricewaterhouseCoopers’s Corporate Finance Consulting Group for the Southeastern U.S.
Mark received a BBA degree in Finance from the University of Texas at Austin and an MBA degree with a concentration in Finance from Georgia State University. Mark also completed the Mergers and Acquisitions Program at the Aresty Institute of The Wharton School of the University of Pennsylvania and the Valuation Program at the Graduate School of Business at Harvard University. He is a Certified Public Accountant, Accredited in Business Valuation (“CPA/ABV”), a Chartered Financial Analyst (“CFA”), and an Accredited Senior Appraiser with the American Society of Appraisers certified in Business Valuation (“ASA”).
Mark is a member of the American Society of Appraisers (“ASA”), the American Institute of Certified Public Accountants (“AICPA”), CFA Institute, and the Atlanta Society of Financial Analysts. Mark is a former member of the Business Valuations Committee of the AICPA, and a current Chairman of the ABV Examination Committee of the AICPA. He is also a former member of the Business Valuation Standards Subcommittee of the ASA. He was recently named as Vice Chairman of The Appraisal Foundation’s Business Valuation Best Practices Working Group. He is also a member of the Atlanta Venture Forum, a professional organization of the venture capital community. He is one of the authors of the International Glossary of Business Valuation Terms which has been adopted by the major valuation organizations.
Mark is a frequent presenter and author on valuation issues. He has presented to such corporations as Northup Grumman and Coca-Cola. He has taught valuation courses at the FBI Academy in Quantico Virginia, and since 2002 has been on the faculty of the National Judicial College teaching business valuation to judges. He is a co- author of two books on business valuation, Valuation for Financial Reporting: Intangible Assets, Goodwill and Impairment Analysis, SFAS 141 and 142 (2002) and Financial Valuation: Application and Models, (2003) bothpublished by John Wiley & Sons, Inc. Mark is also the co-author of the courses, “Fair Value Accounting: A Critical New Skill for All CPAs” and “Valuing Goodwill and other Intangible Assets” published by the AICPA. Mark is also co-author of Fair Value Measurements: Valuation Principles and Auditing Techniques to be published in late 2007 by Tax Management, Inc., a division of the Bureau of National Affairs.
Rick Hitt
Managing Director, Valuation Services Practice
Navigant Consulting
Richard D. Hitt is a Managing Director in the Corporate Finance practice of Navigant Consulting, Inc. and is responsible for the Financial Services Group. Mr. Hitt has provided valuation and financial advisory assistance to the financial services industry for more than 20 years. During that time, he has performed hundreds of valuations for financial services companies, including banks, thrifts, leasing companies, insurance companies, insurance agencies, investment advisors, mortgage companies, mutual fund complexes, broker-dealers and other types of securities firms, trust companies, and other financial services firms.
His valuation experience includes the valuation of equity interests, intangible assets, and financial instruments. These valuations have been performed in connection with mergers, acquisitions, divestitures, employee stock ownership plans, litigation, tax and financial reporting purposes (including SFAS 141 and 142). In addition, Mr. Hitt has advised numerous community banks on shareholder value issues. His financial advisory experience includes buy and sell-side advisory in banking, mortgage banking, insurance brokerage and professional services firms.
Travis W. Harms
CPA/ABV, CFA
Mercer Capital
Travis is a vice president of Mercer Capital. Travis’ practice is primarily concentrated in valuation for financial reporting (compliance with SFAS 123, 141, and 142). He is experienced in the valuation of various intangible assets, employee options, restricted stock, and assets subject to specific contractual restrictions. He is the co-author of Business Valuation: An Integrated Theory - Second Edition (John Wiley & Sons, Inc., 2008) with Z. Christopher Mercer and a co-author of Valuation for Impairment Testing (Peabody Publishing, LP, 2001) He is a senior member of the Valuation for Financial Statement Reporting Team. Travis is a sought-after speaker on business valuation topics.
Statement 159 Speakers
Kenneth P. Lamar
Senior Vice President
Statistics Functions,
Research & Statistics Group
Federal Reserve Board (FRB) New York
Kenneth P. Lamar is a senior vice president in the statistics function, Research and Statistics Group. He had been a vice president since January 2003 and assistant vice president since December 1995, both in the same area.
In March 1993, he was named an officer of the Bank assigned to the domestic and regulatory reports department. Mr. Lamar joined the Bank in February 1980.
Mark Northan CPA
Partner, Department of Professional Practice
Audit and Advisory
KPMG LLP
Mark A. Northan, CPA, is a partner in KPMG’s Department
of Professional Practice— Audit and Advisory in
New York City. He served a two-year appointment as a
Professional Accounting Fellow in the Office of the Chief
Accountant at the SEC (2004–2006).
His current responsibilities
include consulting with engagement
teams on complex accounting and SEC matters, develop
ment of the firm’s professional accounting literature,
development and presentation of technical training for
internal and external audiences, and focusing on financial
instruments such as securitizations, derivatives and
classification, and measurement of debt and equity instruments.
He received a BS in Accountancy from Wake
Forest University.
Mark Lamonte
Vice President - Senior Credit Officer,
Financial Institutions
Group/Accounting Specialist Group
Moody's Investor Services
Mark LaMonte is a Vice President/Senior Accounting Analyst in Moody’s Corporate Finance Group and is a member of Moody’s Accounting Specialists Group. Accounting specialists help analysts assess the credit risk of borrowers. They also publish research on complex reporting topics, including research on the quality of a borrower’s public financial reporting. Further, these specialists help educate Moody’s analysts on matters of accounting and financial reporting.
The Accounting Specialists Group is part of Moody’s broader initiative of developing groups of specialists knowledgeable in technical matters relevant to assessing credit risk. Other examples include specialists in corporate governance, derivative instruments, and off-balance-sheet financing arrangements.
Mark Joined Moody’s from KPMG LLP where he was a Senior Manager in the firm’s Department of Professional Practice. There he was responsible for consulting with audit teams on accounting, financial reporting, risk management and audit related issues. Mark also contributed to a number of the firm’s publications on various accounting and financial reporting topics.
Prior to his professional practice role, Mark was an audit Senior Manager in KPMG’s Boston and Stamford, Connecticut offices where he was responsible for managing audits for clients in the consumer and industrial products industries.
Mark is a CPA and holds an undergraduate degree from Siena College.
Sergey Volkov, CPA, CFA
Director, Structured Finance Group
PricewaterhouseCoopers LLP
Sergey Volkov is a director in the PricewaterhouseCoopers’ Structured Finance: Capital Markets Accounting Advisory Services practice. This practice advises companies on current accounting issues, developments, and the application of accounting standards. Sergey provides accounting advice on structured transactions, derivatives, transfers of financial assets, securitizations, financings and other issues. He also supports banking and other financial services clients with technical accounting support with implementing new accounting standards. Sergey has a strong background in financial services products and structures. His clients include investment and retail banks, private equity firms and insurance companies.
Sergey is a Chartered Financial Analyst (CFA) charterholder. He maintains active CPA licenses in Washington DC and Virginia. Sergey is an active member of: AICPA, CFA Institute, Virginia CPA Society and Washington DC Society of Investment Analysts.