Jason Goldberg is a Senior Vice President and Senior Research Analyst at Lehman Brothers covering the Regional Banking industry. He joined Lehman in July 2000. Jason began covering the banking industry in June 1995 at Smith Barney and then at Salomon Smith Barney. Jason was named to the Institutional Investor magazine's All-American Research Team for Mid-Cap Banks, ranking #1, in both 2002 and 2003. He also place second among all bank analysts in the 2002 StarMine/ NASDAQ annual survey for earnings estimate accuracy. Jason received a Bachelor of Business Administration from the University of Michigan and is a Chartered Financial Analyst. He has been in the investment business for over seven years. His current coverage universe encompasses 20 S&P 500 components and includes AmSouth, BB&T Corp, Charter One Financial, Comerica, Compass Bancshares, Fifth Third Bancorp, First Tennessee National, FleetBoston Financial, KeyCorp, M&T Bank, Marshall & Ilsley National City, National Commerce Financial, North Fork Bancorp, Regions Financial, SouthTrust, SunTrust Banks, Synovus Financial, TCF Financial, U.S. Bancorp, Union Planters, Wachovia, Wells Fargo and Zions Bancorp.
Eugene A. Ludwig
Mr. Ludwig is the Managing Partner of Promontory Financial Group. Prior to founding the firm, Mr. Ludwig was Vice Chairman of Bankers Trust / Deutsche Bank. In this role he was responsible for legal, credit, risk management, and compliance activities, as well as regulatory and legislative affairs. From 1993 to 1998, Mr. Ludwig headed the Office of the Comptroller of the Currency (OCC), the federal agency responsible for supervising federally chartered commercial banks and federal branches and agencies of foreign banks. In his role as Comptroller of the Currency, Mr. Ludwig spearheaded efforts to modernize the agency's supervisory activities, creating and adopting the first risk-based regulatory and supervisory system, a system that has later been adopted by all other federal supervisors and several foreign supervisors, including the Bank of England and later the FSA in England. In addition, Mr. Ludwig spearheaded efforts to modernize and reform the nation's banking industry and reform the Community Reinvestment Act. Prior to becoming Comptroller he was a partner at the law firm of Covington & Burling, where he specialized in financial services regulatory matters. Mr. Ludwig has also served as the Chairman of the Federal Financial Institutions Examination Council (FFIEC), member of the Basel Committee on International Bank Supervision, Director of the Federal Deposit Insurance Corporation (FDIC) and Chairman of the Neighborhood Reinvestment Corporation.
Mr. Ludwig has written numerous articles on banking and finance for both scholarly journals and business publications and has served as a guest lecturer at Yale and Harvard law schools and Georgetown University's International Law Institute. Mr. Ludwig graduated from Yale University with a J.D in 1973, where he was editor of the Yale Law Journal. He received a Masters as a Keasbey Fellow from Oxford University in 1970 and graduated magna cum laude from Haverford College in 1968.
Thomas D. McCandless
Thomas D. McCandless is a Director of Deutsche Bank Securities, Inc. and the team leader for the commercial banking sector in equity research in North America.
From 2001-2003, he was a Senior Vice President and the senior large-cap bank analyst for Keefe, Bruyette & Woods, Inc., where he played an integral role in rebuilding the firm's research efforts after the tragic events of September 11, 2001. During his tenure there, he played a critical role in improving KBW's research ranking to all-time record levels (#2 in Greenwich and #1 in Institutional Investor's Best of Boutiques category in 2002). From 1998-2001, he was an Executive Director and the senior bank analyst for CIBC World Markets. During this time he was recognized repeatedly by BulldogResearch.com as one of the top five stock pickers for the major regional banks, ranked #1 for two- and three-year returns, as well as by the annual Reuters survey. In 1999, following his extensive work in uncovering material nonrecurring gains at First Union Corp., Mr. McCandless was the only bank analyst on Wall Street chosen to assist the FASB in preparing its three-volume Improved Business Reporting research project. During 1996 and 1997 he served as co-head of an institutionally recognized global bank research team (12 members) at NatWest Securities Corp. Prior to joining NatWest, he successfully re-established a major institutional bank research effort for PaineWebber, Inc. between 1993 and late 1995. From 1989 to 1993 he was part of the #1-rated Greenwich Associates research team of U.S. banking analysts at Goldman Sachs & Co. He was also responsible for the development of that firm's extensive equity research efforts on the Canadian banking system. From 1985 to 1989, he provided comprehensive analytical coverage of the Financial Services sector for The Private Bank of Bankers Trust Co. and served on the Private Bank's Fixed Income Strategy Committee.
Tom began his analytical career with Folger Nolan Fleming Douglas, Inc. in Washington D.C. in early 1983. He received an M.B.A degree from the University of North Texas in 1982 and earned his B.B.A. degree, magna cum laude, from Texas Wesleyan University in 1980. Tom is also a member of the New York Society of Security Analysts and the Association for Investment Management and Research, and is a Chartered Financial Analyst. Mr. McCandless is a past President, Treasurer and Director of The Bank and Financial Analysts Association.
Ms. Miller started her career with the FDIC in 1989 in the Wayne, New Jersey Field Office as a bank examiner trainee. In 1994, she transferred to the Talleyville, Delaware Field Office as a trust specialist. . From 1996 to 1998, she served as Special Assistant to the Deputy to the Chairman and Chief Operating Officer in Washington, D.C. Ms. Miller returned to bank supervision in March 1998 as the Manager, Risk Management and Application Section in Washington, DC. In March 2000, she was promoted to Assistant Director, Supervision and Applications, Operations Branch. In this capacity, she was responsible for overseeing Washington, D.C.'s supervisory activities related to problem banks, enforcement actions, applications, and anti-fraud/money laundering efforts. In 2002, Ms. Miller was promoted to her current position as Associate Director, Regional Operations Branch with the Division of Insurance and Research. In this position, Ms. Miller oversees banking and economic analysis activity in the FDIC's six regions. She is also responsible for production of the FDIC Outlook and FDIC State Profiles.
Moshe Orenbuch is a Managing Director of Credit Suisse First Boston, based in New York. He is responsible for research in the Specialty Finance sector.
Mr. Orenbuch joined CSFB in November 2000 when the Firm merged with Donaldson, Lufkin & Jenrette where he was a Managing Director in the financial services team. In January 1999, Mr. Orenbuch formed part of the DLJ financial services team covering specialty finance companies. Before joining DLJ, Mr. Orenbuch was a senior research analyst at Sanford C. Bernstein, where he covered credit card issuers and regional banks. While there, he authored two editions of The Future of the Credit Card Industry, as well as numerous other industry and company reports. Prior to his work at Sanford C. Bernstein, Mr. Orenbuch worked as an auditor and management consultant at Deloitte Haskins & Sells. He was also a past president of the Bank and Financial Analysts Association. In each year beginning with 1993, Mr. Orenbuch has been a highly ranked analyst on Institutional Investor's All-America Research Team. In 2001 and 2002, he achieved the #1 ranking for his coverage of Specialty Finance Companies advancing from his #2 position in 2000. He was also ranked as part of the No. 1 financial services team by the Reuters survey in 1998, both for large-cap companies and for mid- to smaller-cap companies.
Gary Townsend covers regional mid-cap and small-cap community banks throughout the United States and Puerto Rico. Mr. Townsend joined FBR & Co. in March 1998 after a long career in Federal regulation of government-sponsored enterprises. He is a certified public accountant, (District of Columbia) and received his M.B.A. from The George Washington University.
Mr. Townsend has nearly 20 years of experience in the analysis of financial institutions. Between 1990 and 1997, Mr. Townsend was the director of the Office of Examination and Supervision, Federal Housing Finance Board, and regulator of the Federal Home Loan Bank System. Prior to 1990, Mr. Townsend was an examiner of the Federal Farm Credit Bank System and was an economic consultant in private practice.
Outside the office, Mr. Townsend serves on various community and corporate boards of directors.