Gerard Rose
New York,New York
Overview
27
27
years of professional experience
Work History
Director - Head of US Tax Product
BNY Mellon
New York
07.2008 - Current
- Created Investment income gain calculator for US Public University endowments equity holdings
- Implemented FATCA/CRS due diligence process globally to support client with US, Cayman, Luxembourg, Ireland, and UK funds to meet their obligations under IGA or IRS standards
- Implemented cost basis reporting process across Fund of Fund Custody, to ensure compliant 1099 generation with respect to US fund investments in offshore funds, treated as corporations under the cost basis regulations
- Provided client assistance with issues of withholding documentation, and remediating prior incorrect withholdings due to incorrect documentation
- Provided oversight and guidance with W9/W8 tax form validation for investor services, reviewed and approved exceptions, and explained to investors what was required to remediate tax documents
- Worked internally with Bank Corporate Tax to design and implement a presumption rule checklist to allow non-tax employees to validate investor tax status using presumption rules, where documentation may be deficient
- Managed tax compliance team that prepared complex Private Equity and Hedge fund Federal and State tax returns
- Review tax issues with accounting team to ensure correct book treatment of tax items and concepts
- Support for Private Equity and Hedge Fund tax teams, tax adjustment and tax return process, and Form K1 review
Director
Citi Private Equity Services
New York
07.2004 - 07.2008
- Managed staff in the preparation of Federal, State and local Private Equity tax returns including Hedge funds, direct investment funds, employee fund, Fund of Funds
- Oversee the preparation of withholding tax forms for foreign partners, including explaining US withholding to foreign partners, and assistance with completion of W8 tax forms
- Review tax structures in order to ensure they are tax efficient, including formation of blocker entities in order to maximize tax efficiencies for special circumstance investors
- Participate in calls to investors in order to explain tax concepts including withholding, blocker entities, K1's and US tax law.
Executive Director
CIBC
New York
04.2004 - 07.2005
- Review proposed 'deals' for tax related issues, and provide tax related research and planning relating to those financial transactions, including investments in Grantor trusts, Private Offerings, and loan and lease transactions, resulting in eventual tax 'sign off.' Research in Canadian/US Tax issues, including Withholding, and Treaty benefits
- Reviewed Partnership Agreements relating to Public/Private Offerings and other banking investments
- Review transactions with respect to the Tax Shelter Regulations, both State and Federal, for compliance with reporting requirements
- Including the preparation of internal memo to provide guidance to the business units on potential tax shelter transactions
- Assisted in the preparation of consolidated group tax return, including review.
Manager
Rubin & Katz LLP/Weiser LLP
New York
12.2002 - 03.2004
- Specialized in Real Estate research, Planning, and structuring
- Tax Manager for Columbus Centre LLC
- Provided Federal, State, and local research on tax related issues relating to the construction, sale and leasing of Time Warner Centre at Columbus Circle
- Reviewed complex Partnership agreements, including review of special allocations, and compliance with IRC 704
- Prepared and reviewed multi-tiered partnership and LLC Federal, State, and Local Tax Returns.
Manager
KPMG LLP
New York
09.2000 - 04.2002
- Reviewed REIT special allocations and K-1's prepared by automated tools and compliance software for accuracy
- Prepared returns for consolidation, performed consolidation, and reviewed consolidated return
- Thought leadership - used own initiative to develop several applications that could be used alone or in combination with existing products to add value and functionality and generate more revenue.
Consultant
PricewaterhouseCoopers
New York
07.1998 - 09.2000
- Prepared partnership return for REIT Clients including partner K-1's and also prepared REIT Corporate return
- Prepared State apportionment schedules, REIT State partnership returns and partner K-1's
- Designed and developed models for 704 (c) allocations, 754 Debt allocations, DRO analysis, REIT Roll-Up analysis, K-1 output, and disguised sale analysis
- Researched various Real Estate issues in order to draft memos and client letters
- Created spreadsheet models to conduct scenario based transactional analysis to calculate rates of return and funding costs on an after tax basis
- Specifically, demonstrated to client the benefit of a specific deal structuring that maximized annual tax savings.
Consultant
Ernst & Young - KL
New York
01.1997 - 06.1998
- Co-wrote, maintained, and implemented 704 (c) Partner Allocation Model used in the preparation of partner K-1's
- Integrated clients data systems with the 704(c) Partner Allocation Model to allow for faster data import
- Prepared Various Models for 704 (c) allocations and REIT Roll-Up analysis
- Researched various issues in order to draft memos and client letters.
Education
Juris Doctorate - Admitted NYS 2nd Department - Concentration in Intellectual Property. Wrote a research paper on trademark implications on web domain names
Touro Law School
01.1997
Bachelor of Science -
Nova University
01.1994
Skills
- FATCA SME
- CRS
- US Withholding Chapter 3
- US Withholding Chapter 4
- US Withholding Chapter 61 documentation
- W9/W8
- 1099 reporting
- 1042 reporting
- 1042S reporting
- Private Equity
- Hedge fund
- Partnership Tax
- REIT
- RIC
- Corporate Tax
- Federal Tax Compliance Review
- State and Local Compliance Review
- International Compliance
- Tax department process review
- Tax product development
- Tax product implementation
Timeline
Director - Head of US Tax Product
BNY Mellon
07.2008 - Current
Director
Citi Private Equity Services
07.2004 - 07.2008
Executive Director
CIBC
04.2004 - 07.2005
Manager
Rubin & Katz LLP/Weiser LLP
12.2002 - 03.2004
Manager
KPMG LLP
09.2000 - 04.2002
Consultant
PricewaterhouseCoopers
07.1998 - 09.2000
Consultant
Ernst & Young - KL
01.1997 - 06.1998
Juris Doctorate - Admitted NYS 2nd Department - Concentration in Intellectual Property. Wrote a research paper on trademark implications on web domain names
Touro Law School
Bachelor of Science -
Nova University
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