Feeley& Driscoll, P.C.
Director, Tax Services
Dual US/EU citizenship
Family-related activities, boating and sailing, reading popular fiction and Italian history, genealogy, and regional Italian cooking
To be an active, contributing, and collaborative member of the senior management team of a US or EU asset manager (dual US/Italian citizenship) with clear responsibility as a C-level Officer for the day-to-day management of critical non-investment activities.
The ideal role would also allow for input into the company's strategic direction, participation in critical decision-making discussions, interaction with key clients and vendors, and mentoring, coaching and motivating the next generation of senior management.
Confident, highly motivated, and enthusiastic former Chief Operating Officer, Fund President and Board Chairman of a USD 185 billion asset with more than twenty years of senior management experience in the investment company industry, including eight years as an industry COO and five years as managing partner of Big 4 accounting firm's investment company practice.
Risk and Control
Developed and implemented a strategic marketing plan that achieved all established goals with the collateral benefit of significantly reducing the firm's financial and reputational risk associated with its role as a global tax withholding agent. Diminution of risk achieved by defining and implementing strict account opening procedures and controls, soliciting new client documentation for existing client accounts, and recruiting a 20-person global tax services group responsible for tax compliance, the ongoing review of tax changes in more than ninety countries.
Implemented new governance policies and procedures that enabled the multiple mutual fund boards to effectively deal with the complex issues associated with direct and intermediary sold, open and closed, multi disciplinary mutual fund families.
Developed automated tools to ensure tax issues associated with complex investment strategies could be easily identified and reported to national practice senior staff, thereby significantly reducing client and firm financial risk.
Managing Organizational Change
Twice rebranded and consolidated an investment manager's product line as a result of sequential acquisitions. This included the development and implementation of product strategies requiring complex fund mergers, consolidation of fund platforms and service providers, outsourcing of back office activities, combination of middle office platforms and assimilation of multiple boards of trustees.
Directed the reorganization of the various New England tax practices into a single regional practice. Result was better leverage of resources and improved service delivery capabilities.
Achieved significant expense savings and service level increases for mutual fund shareholders through selective outsourcing of transfer agency and fund accounting functions.
Designed and implemented product profitability analyses for investment products and distribution relationships with follow-on redesign of sales compensation plans.
Managed and oversight responsibilities for all areas of the investment management business other than asset management, including fund accounting, transfer agency, financial reporting, compliance, legal, human resources, sales, marketing, client service, and information technology.
Strategic Planning and Implementation
Had oversight of the design and implementation of a fund manager's broker-sold 401(k) product strategy that became the top selling program in the intermediary channel.
Established firm's national investment company tax practice and led it to being the largest in the public accounting industry.
Coordinated the development of strategic plans to convert direct sold mutual funds to the broker, bank, and financial planner distribution channels.
Recognized as leading international expert on investment management tax matters, including optimal product structuring for cross border investment vehicles, withholding taxes, investment partnerships, mutual funds, and complex securities.
Published the first industry recognized treatise on investment company tax planning (CCH). Was regular contributor to Journal of Taxation of Investments as well as frequent speaker at investment management conferences.
Director, Tax Services
Chief Operating Officer, Columbia Management Group
President, Columbia Funds Services, Inc.
President, Columbia Mutual Funds
Chairman, Columbia Mutual Funds Board of Trustees
Responsible for all aspects of the Columbia Mutual Funds business other than portfolio management and distribution, with particular emphasis on board relationships, transfer agency, fund accounting and administration, investment operations, and compliance.
Chief Operating Officer, Putnam Mutual Funds
Responsible for day-to-day management of the intermediary distribution channel, reporting to the head of retail sales. Specific responsibility for compliance, finance, product marketing and development, and broker-sold 401(k) products.
Managing Partner, Northeast Region tax practice (1991-1993)
Co-Chair - US investment management practice (1991-1993)
Chair - Global investment management tax practice (1991-1993)