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SUMMARY OF PREVIOUS ASSIGNMENTS
* Advisor to a group seeking to establish an advanced, more efficient financing
program for manufactured housing, with take-out funding via a private mortgage-backed
securities conduit to be created. Orchestrated a commitment from a venture capital
company to provide start-up financing of $10 million upon the completion of an
operating infrastructure for the firm.
* Start-up consulting for public
housing agencies in forming a unique low-to-moderate income housing program financed
with tax-exempt bonds. For the public agencies, formed a mortgage banking company
with full operating capabilities and warehouse lines to originate and service
the special lease/option real estate transactions generated by the program. Over
two-years, funded $20 million in bonds, sold monthly as the transactions were
originated, an approach implemented by Mr. Struck that eliminated warehousing
and pipeline management risks. Upon conclusion of the program, transferred a fully
operational and current servicing system for the outstanding transactions and
bonds to a traditional mortgage servicing firm.
* Turn-around consulting
to a securities broker-dealer owned by a real estate development and property
management company. Served as temporary president, CEO, NASD compliance officer.
Developed two attractive M&A opportunities for the firm, one involving the
acquisition of a smaller broker-dealer and the other involving the merger of the
company into a larger firm.
* Start-up consulting to a firm specializing
in organizing real estate and mortgage funds and REITs, addressing the compliance,
organizational, and marketing functions required to establish a NASD broker/dealer
subsidiary, serving as its initial CEO and NASD compliance officer. Client did
not accept Mr. Struck’s advice regarding NASD compliance requirements, at which
point he ceased working with them. Approximately six months after his departure,
the firm was closed down because of the lack of compliance with the requirements
he had identified.
* Corporate re-engineering consulting to a Silicon
Valley on-line mortgage-banking company, providing advice in the establishment
of its on-line functions and the corporate reorganization required to go public.
Provided assistance in strengthening their operating platform and operating profits.
Company remains a client in-so-far as the possibilities of going public or being
acquired.
* Start-up consulting to an investment firm specializing
in REITs, establishing a commercial real estate finance company, with Mr. Struck
serving as its initial temporary CEO, and developing a $200 million pipeline of
business. Turned the operating company over to the client.
* Turn-around
consulting to a venture capital firm, serving as the temporary CEO of a $100 million
monthly production, residential mortgage banking company while determining the
corporate re-engineering required to take it public. Obtained an attractive offer
to purchase the mortgage banking company.
* Mortgage-backed securities
marketing consulting to a top-five mortgage banking company. Established a MBS
marketing department within its capital markets division, which was a securities
broker-dealer, that efficiently serviced the mortgage pass-through, CMO, and derivative
securities portfolio needs of the largest investment fund managers in the nation.
The securities broker-dealer then became and remains one of the leading MBS trading
firms.
* Portfolio management consulting to a candidate running for
the treasurer position for Orange County, CA. Completed a risk analysis and valuation
of the $20 billion investment fund that was managed by an incumbent county treasurer.
The fund consisted primarily of agency bonds, mortgage-backed securities, and
derivatives. Mr. Struck identified risks factors that subjected the fund to the
potential for major losses and provided portfolio management restructuring recommendations
to address these risks, which eventually proved to be very timely. The candidate
Mr. Struck assisted publicly voiced very strong concerns about the condition of
the pool, which received extensive press coverage. Even so, the incumbent treasurer
was reelected and the risks were not addressed. But, six months after his reelection,
the pool collapsed, creating the largest bankruptcy of a public entity in U.S.
history, and then the incumbent was removed and replaced by the candidate Mr.
Struck had assisted.
* Asset-liability consulting to one of the largest
real estate developers in Hawaii, who had substantial loans against his properties
from large Japanese banks. The Japanese market was collapsing and the banks were
looking to get out of their loan commitments. Completed an overall portfolio evaluation,
and provided strategic planning and advisory services in portfolio management
and restructuring, and in debt restructuring and repayments, which proved to be
very beneficial for the developer and the Japanese banks.
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