Executive Credit Officer – Managing Director
Talmer Bank and Trust
Troy, MI 11/2010 – 11/2016
Executive oversight of credit quality for commercial lending functions for this $6.7 billion asset bank’s Illinois, West Michigan and Indiana regions, and agricultural lending bank-wide. Coordinate with local market managers and regional president to help meet loan growth goals while preserving high credit quality and low credit exceptions. Supervise credit analysts for those regions. Accompany lenders on meetings with borrowers with large/complex credit needs. Member of the bank’s senior loan committee. Assist bank’s special assets team with resolution of problem loans. Member of the bank’s due diligence and integration teams for multiple FDIC-assisted and open bank acquisitions.
Chief Credit Officer
First Banking Center / First Banking Center, Inc.
Lake Geneva, WI 10/2009 – 11/2010
Hired as Chief Credit Officer of this $750 million asset troubled bank in an effort to stem mounting loan losses, correct poor credit underwriting practices, resolve problem assets, and coordinate bank’s responses to regulators. Implemented revised credit policy, created new credit approval processes, hired credit analysts and instilled rigorous underwriting standards. Hired and supervised problem asset workout staff, created formal watch list process and engaged external loan review providers. Initiated enhanced reporting to the board of directors and bank regulators for credit quality trends, loan loss reserve analysis and status of material individual problem assets. Worked closely with other senior managers, the board of directors, investment bankers and legal counsel to prepare the bank for a significant external capital raise. Met with institutional investors and private equity firms across the country to solicit capital investment. Those capital raising efforts were ultimately unsuccessful and the bank was closed in November 2010 and acquired by Talmer Bank and Trust in an FDIC-assisted transaction.
President and CEO / Chairman of the Board
Withee Bank Shares, Inc. / State Bank of Withee
Withee, WI 10/2007 – 12/2008
Executive oversight and management of $65 million asset, four-office community bank located in central Wisconsin. Focus on credit process and policy implementation resulted in sound asset quality, strong capital ratios and good earnings. Oversaw all strategic, credit, financial, personnel and regulatory-related matters. Negotiated the sale of the bank for a cash price equal to 1.5X book value and 21X earnings. Coordinated all aspects of the sale process to a successful conclusion for investors, employees and the community.
Fortress Partners Capital Management, Ltd.
Hartland, WI 2/2004 – 12/2007
Minority (49%) owner of boutique asset management firm that invested primarily in equity securities of small, publicly-traded banks. Formed two private-equity funds with aggregate commitments of $19 million to invest in established closely-held banks. Managed accounts for high net worth individuals. Total assets under management in excess of $50 million. Responsible for all accounting, compliance, investor reporting, marketing and other operational aspects of the business as well as ongoing investment research and portfolio management.
Vice President and Portfolio Manager
Ziegler Investment Services Group
Milwaukee, WI 4/2000 – 2/2004
Co-manged family of enhanced index mutual funds with aggregate assets of $600 million. Managed individual equity and balanced portfolios for high net worth individuals and institutions. Participated in the development and implementation of successful quantitative investment methodology based upon behavioral finance principles. Met with clients on a regular basis and provided support to the firm’s marketing and business development efforts. Member of the firm’s equity investment committee and Chairman of the firm’s advisory business practices committee.
Vice President and Senior Analyst
B.C. Ziegler and Company
Milwaukee, WI 2/1998 – 4/2000
Senior Analyst responsible for primary research coverage of banks and other firms in the financial services industry as well as selected companies in other industries. Researched, analyzed and marketed investment ideas to institutional clients. Provided ongoing research coverage through morning sales calls and frequent written reports.
Robert Ollech, CFA
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Senior Vice President – Financial Services Analyst
Principal Financial Securities, Inc.
Dallas, TX and Milwaukee, WI 3/1996 - 2/1998
Senior Financial Services Analyst responsible for primary research coverage of banks, thrifts and other financial services firms located primarily in the Midwest and Southwest regions of the country. Researched and analyzed investment opportunities for institutional and retail clients. Improved the quantity and quality of firm’s published research for the financial services sector, including daily sales call updates, frequent company progress reports, and comprehensive quarterly industry reports. Marketed research ideas through written reports, morning sales calls and institutional client visits. Presented at the firm’s major national retail sales forums. Collaborated with corporate finance team to develop institutional client relationships and investment banking opportunities. Assisted with due diligence and other corporate finance projects. Developed contacts with business media. Stock selections outperformed relevant index benchmarks.
First Vice President and Director of Bank Equity Research
Howe Barnes Investments, Inc.
Chicago, IL 10/1994 - 2/1996
Identified, analyzed and developed written research on a broad universe of small and mid-cap banks and thrifts located primarily in the Midwest for distribution to institutional clients. Directed the research efforts of three analysts and one technical assistant. Accompanied institutional salesmen on client calls and helped to develop corporate finance prospects. Worked with trading department to expand market-making capabilities. Expanded research coverage universe and upgraded research function to include standardized tracking of investment recommendations and process for evaluating effectiveness of research efforts.
Administrative Examiner and Manager - Supervision and Regulation Department
Federal Reserve Bank of Chicago,
Chicago, IL 8/1983 - 10/1994
Managed professionals responsible for examination and ongoing supervision of 240 banks and bank holding companies with up to $10 billion in assets, located primarily in Wisconsin and Illinois. Responsible for training, supervision and career development of department staff. Scheduled and coordinated examinations with other Federal and State regulatory agencies. Participated in on-site examinations with emphasis on problem and/or complex institutions. Performed final review of examination reports and conducted meetings with boards of directors of problem institutions. Participated in special projects and national training programs for the Federal Reserve System.
Professional Recognition and Activities
Chartered Financial Analyst (CFA) 2003, Member CFA Society and Milwaukee CFA Society.
Instructor, Federal Reserve System, Washington, DC, 1987 through 1994. Taught courses in Credit Analysis, Bank Operations and Bank Management.
Presidential Award for Excellence, Federal Reserve Bank of Chicago, 1987, 1989 and 1993.
Voting Examiner, Shared National Credit Examination Program, 1988 through 1994.
Agricultural Lending School, Iowa Bankers Association/Iowa State University, 1988.
The National Commerial Lending School, American Bankers Association/University of Oklahoma, 1987.
Faculty Member, Graduate School of Banking, Madison, Wisconsin, 1989 and 1990.
University of Wisconsin - Eau Claire, August 1978 – May 1982. BBA with major in Business Finance and minor in Accounting Magna Cum Laude. GPA 3.6. Beta Gamma Sigma national business scholastic honor society.
University of Wisconsin - Madison, August 1982 - August, 1983. 30 credits of graduate course work in Business Finance.