A.E. Feldman Blog

In Michigan, plans to expand and improve I-94 through Jackson County are reportedly expensive and long overdue, according to the Jackson Citizen Patriot. In Pennsylvania, a three-mile stretch of I-95 was recently shut down, backing up traffic for miles, according to Fox News. The reason for the delays: emergency repairs on a 6-foot crack in a concrete pillar supporting the major corridor through the Northeast. Both of these incidents are merely reminders of the major, widespread infrastructure issues the U.S. currently faces. Unfortunately, current federal financing methods do not to meet the demands of repairing and renewing the nation’s crumbling infrastructure. But politicians and investors alike are pushing for new methods in which the federal government can finance infrastructure more effectively, with a combination of public and private capital – or public private partnerships (PPPs).

Now, as investors around the world seek to tap opportunities in infrastructure, executive search firm, A.E. Feldman, says infrastructure finance jobs are opening up for candidates with backgrounds in investment banking as well as experience in analyzing and executing structured financings. The most sought after candidates are those with experience in infrastructure transactions and environmental engineering.

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Data centers are voracious consumers of energy. Collectively, they are becoming major contributors to global warming. That’s according to a new joint study just released by McKinsey & Co. and The Uptime Institute. In fact, the study also contends that data centers are on track to surpass the airline industry as a major greenhouse gas polluter by 2020. That’s because carbon dioxide emissions from electricity consumed by fast-expanding data centers are growing rapidly and remain largely unchecked. It’s not simply a balance sheet issue. Concerns about the environment are also pushing corporations to reassess their energy utilization and identify efficiency enhancements to reduce their carbon footprint.

Right now, firms are increasingly examining their data centers to determine how much energy they consume…and how much they can save by making them operate more efficiently. Executive search firm, A.E. Feldman, has a team of industry veterans already working with a number of firms to identify and place qualified professionals who can design and implement strategies for maximizing energy efficiency. The firm reports that demand is surging for operations professionals with the expertise to address mounting energy concerns.

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Industry experts see no shortage of restructuring work on the horizon. The Federal Reserve says the percentage of banks reporting tighter lending standards is near historic highs for nearly all loan categories. Now, as credit conditions tighten, corporate insolvencies and workouts are expected to increase. The nation’s leading experts anticipate a “big spike” in corporate restructurings in the coming months, according to a new study conducted by global business advisory firm, AlixPartners. In response to the findings, the AP quotes Mark Zandi, Chief Economist at Moody’s Economy.com as saying, “This survey reflects the high level of angst among banks involving the erosion of credit quality, rising delinquencies, foreclosures and defaults.”

Amid the continued turmoil in the credit markets, executive search firm, A.E. Feldman, reports that finance jobs, accounting jobs and corporate attorney jobs are opening up as need for experts in corporate workouts and restructurings escalates. Candidates with expertise in underwriting, restructuring, valuation and workouts are hot commodities. Executives with corporate operational experience, in particular, are in growing demand. A. E. Feldman says firms want people who can evaluate companies in various stages of disrepair, assess what the issues are, determine how to proceed and implement those strategies. One industry veteran working with A.E. Feldman adds, “The most highly sought after candidates are executives who have the knowledge, imagination and the ability to roll up their sleeves, get down in the trenches and make it happen.”

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Reeling from the credit crunch, Washington Mutual has appointed John P. McMurray as the bank’s new Chief Enterprise Risk Officer. Formerly the bank’s Chief Credit Officer, McMurray is now responsible for overseeing the company’s risk management functions, including credit risk, interest rate risk, market risk, operational risk and audit. McMurray will become a member of WaMu’s Executive Committee and report directly to the bank’s CEO, Kerry Killinger.

WaMu joins the chorus of banks calling for a renewed focus on risk management. In the wake of the subprime crisis, top firms continue to shore up their risk management teams. Executive recruiting firm, A.E. Feldman, says that firms continue to add risk management jobs. Banks are on the hunt for senior-level risk managers who have been tested be previous market cycles. Now more than ever, executives are emphasizing the strategic importance of effective risk management. Looking ahead, A.E. Feldman also notes that senior communications and marketing professionals will also become hot commodities as firms reposition and rebrand themselves.

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The nation’s 54,000 drinking water systems face staggering infrastructure funding needs over the next 20 years, according to the American Society of Civil Engineers (ASCE). The group also says that although America spends billions on infrastructure each year, drinking water faces an annual shortfall of at least $11 billion to replace aging facilities that are near the end of their useful life and to comply with existing and future federal water regulations. Moreover, that shortfall does not account for any growth in the demand for drinking water over the next 20 years.

The private sector has already stepped in showing much interest in water as a source of profit. Right now, a number of firms are looking to capitalize on opportunities in infrastructure, namely public-private partnerships (PPPs). Amid the trend, executive search firm, A.E. Feldman, says infrastructure finance jobs are opening up for candidates with backgrounds in investment banking as well as experience in analyzing and executing structured financings. The most sought after candidates are those with experience in infrastructure transactions and environmental engineering.

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Foreign investment banks are pushing to expand their operations in China. Since China opened its banking sector to foreign banks back in 2006, overseas lenders have jumped in to compete with domestic banks for the high-end consumer banking business. By 2010, foreign bank assets are predicted to double, totaling more than $100 billion, according to a survey conducted by PricewaterhouseCoopers (PwC). But the survey also finds that as banks attempt to boost their ranks and secure a piece of the Chinese market, finding and retaining talent remains a challenge.

Executive recruiting firm, A.E. Feldman says that growth in China is creating finance jobs and driving demand for candidates with wealth management and private banking experience. The increase in overseas investment and cross-border deals is also adding attorney jobs for professionals with structured finance and capital markets experience.

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Regardless of who is sitting in the oval office next year, the federal government is likely going to be forced to spend billions to rebuild and improve the nation’s decaying infrastructure. In fact, the American Society of Civil Engineers forecasts that $1.6 trillion needs to be invested in U.S. infrastructure over the next five years. The country needs to wake up to the dire state of its infrastructure, according a new report co-published by the Urban Land Institute and Ernst & Young. “The status quo increasingly looks like a precarious option — relying on existing networks and systems will only hamstring future growth and compromise sustainability. This country simply cannot afford to keep treating infrastructure as an afterthought,” the report states.

The old ways of financing and constructing public facilities through bonds and taxes, however, just aren’t equal to the task. Increasingly, investors and politicians alike see privatization as a viable alternative. Now, a number of firms are looking to capitalize on opportunities in infrastructure. Amid the trend, executive search firm, A.E. Feldman, says infrastructure finance jobs are opening up for candidates with backgrounds in investment banking as well as experience in analyzing and executing structured financings. The most sought after candidates are those with experience in infrastructure transactions and environmental engineering.

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UBS has written off more bad debt from the subprime crisis than any other bank – a whopping $37 billion. In the wake of these writedowns… and just two days before a shareholders’ meeting where the bank sought permission to once again shore up its balance sheet… UBS published a 50-page report on its writedowns aimed at activist shareholders. The paper places much of the blame for the bank’s string of losses on ineffective risk management.

Executive recruiting firm, A.E. Feldman, says now more than ever, firms are realizing the strategic importance of effective risk management and risk management jobs are opening up. The firm reports that demand for senior-level risk managers is surging as financial institutions expand and reorganize their risk teams in an effort restore confidence. Experience however is essential. Firms are on the hunt for risk professionals who have been tested by previous market cycles. Looking ahead, A.E. Feldman adds that senior communications and marketing professionals will also become hot commodities as firms reposition and rebrand themselves.

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Government initiatives are focusing on energy utilization as a national security concern as well an environmental concern. But according to industry experts, energy is primarily a bottom line issue. Today, firms are beginning to take a closer look at their data centers to determine how much energy they consume…and how much they can save by making them operate more efficiently. Fred Palmer is the Founder and Head of the Palmer Group, an invitation only organization comprised of 60 executives from Fortune 1000 companies in the U.S. and Canada that focuses on best practices in technology. According to Palmer, “Energy is an untapped reservoir for corporate profitability. That reservoir is filling and remains virtually unaddressed.”

But things are changing. A number of leading companies with large data centers already have experts on their boards to strategize and execute energy saving initiatives. Right now firms have an opportunity to reduce energy costs, increase data center capacity and efficiency and increase reliability in mission critical environments, according to New York-based consulting firm, Datacenter Efficiency. Executive search firm, A.E. Feldman, is one step ahead of this growing trend. The firm has a team of industry veterans already working with a number of firms to identify and place qualified professionals who can design and implement strategies for maximizing energy efficiency.

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Chief Financial Officers (CFOs) are wielding increasing influence and driving growth strategies. That’s according to a new study conducted by Ernst & Young and CFO Research Services. The research finds that senior management expects CFOs to focus on strategic issues, such as evaluating new products, provide leading indicators on business performance and driving M&A opportunities, rather than concentrate solely on monitoring and reporting financial information. “CFOs are elevating their game to meet the demands of today’s market conditions,” says T.J. Letarte, Head of Ernst & Young’s Americas’ Finance and Performance Management practice for financial services. “In addition to the important work they’ve always done, monitoring and reporting, they’re also helping to provide their firms with a comprehensive, actionable view of risk. By doing so, they’re creating more competitive institutions that can face future challenges more resiliently.”

Firms are demanding more from their CFOs and to boost their balance sheets, safeguard against future market shocks and help them carry the ever-growing auditing and accounting burden. Executive search firm, A.E. Feldman, says that the trend is opening doors for Finance Chiefs in a number of major corporations, consulting firms and law firms.

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