Tony Butler
Weddington,NC
Summary
Highly motivated and detail-oriented Banking & Finance Professional with more than 20 years of experience.
Established and deployed an integrated business and capital allocation strategy model engaging all senior leaders within Wachovia's $80 billion Real Estate Division. Priced, hedged and securitized over $16 Billion of CRE loans.
Specialties include strong quantitative and analytical skills, solving complex problems, research, presentation, team building, engaging senior business leaders, creating customized Excel models utilizing VBA programming to address unique or specific objectives.
Overview
31
31
years of professional experience
1
1
Certification
Work History
Head of Distribution/Securitization
Electra Capital
Remote , NC
01.2021 - Current
- Developed financing and distribution strategies for MF bridge loans
- Sourced opportunities for subordinate MF financing (mezz/pref)
- Created return models for internal tracking, management and reporting
- Reversed/created a Rating Agency subordination model for CRE CLOs.
Member/Director/CFO
B-Square Precision Group
Remote, NC
10.2018 - Current
- Acquisition cultivation, analysis, negotiations & execution
- Evaluate/approve all financing activities
- Advise re strategy, improving operations, human resources, benefits, budgets & tax planning.
Sr. Managing Director, Securitization
RAIT Securities
Charlotte, NC
09.2009 - 04.2018
- Developed RAIT’s bridge/floating rate loan securitization program; coordinating all aspects of the securitization process—bankers, agencies, accountants, legal, trustee, marketing materials and distribution
- Between 2013 and 2017 RAIT completed eight CRE CLOs securitized by 183 bridge loans totaling $2.0B
- Lead the CMBS securitization program
- Between 2011 and 2016 RAIT contributed 180 loans/$1.4 billion into 34 CMBS deals
- Created models used for loan pricing, agency subordination estimates, hedging, proceeds allocation and loan level profitability
- Evaluated all business development opportunities and initiatives
- Responsible for warehouse relations, document negotiations, extensions, modifications and renewals.
Managing Director, Global Real Estate Strategies, Real Estate Division
Wachovia
Charlotte, NC
02.2008 - 06.2009
- Established, monitored and updated an integrated business and capital allocation strategy (by business type, geography, property type) for the Real Estate Division (“RED”)
- Reviewed/reported on exposure and pushed leaders to achieve capital targets on a weekly basis
- Implementation the adoption of consistent risk/return metrics across a large and diversified real estate platform to maximize risk adjusted returns
- Set exposure targets by businesses based on historic and expected performance and volatility of results
- Interacted with senior leaders across RED (risk management, quantitative modeling team, and real estate special asset management) to develop optimal commercial real estate business strategies to maximize revenues while minimizing risk.
Director/MD, Structured Products Research
Wachovia
Charlotte, NC
02.2005 - 02.2008
- Led a five-person research team covering CMBS and CRE CDOs as well as fundamental property type and market level commercial real estate research
- Traveled worldwide (Europe/Asia/Middle East), presenting views and research to top tier institutional clients
- Published works cover relative value opportunities, market risks, educational pieces, primers & market trends
- Chair of the MBA Research Committee (2008)
- Contributing author to the book, “Structured Products and Related Credit Derivatives, A Comprehensive Guide for Investors” by Lancaster, Schultz, Fabozzi; 2008 John Wiley and Sons, Inc.
Vice President, Commercial Mortgage Trading
First Union / Wachovia
Charlotte, NC
10.1998 - 02.2005
- Priced, hedged, securitized over $14 billion of commercial mortgages using self-built in-house proprietary models/tools
- Hedged with interest rate swaps, total rate of return swaps, agencies, treasuries, corporates, and futures
- Reversed rating agency models, developed and implemented A-B note sizing and pricing models
- Head of origination trading and analytics: Hedge execution and analysis, one-off pricing, automated daily mark to market model, new product development, whole loan purchases/sales, tool building, breakage calculations, carry analysis
- Built pricing matrix model for conduit and pricing model for large loan program (fixed and floating)
- Designed custom applications for hedge analysis, loan level marks, and automating the MTM process.
Risk Aggregation Team
Koch Industries Inc.
Wichita, KS
09.1997 - 10.1998
- Modeled & managing risk for all commodity trading instruments (crude, feedstocks, refined products, financials, natural gas, gas liquids and electricity).
Vice President
Delphi Structured Finance Corp.
Frankfurt, Germany
04.1996 - 09.1997
- Set up operations for a $200 million international export trade company that was spun out of Dresdner Bank
Investment Analyst
Church Of Jesus Christ Of Latter Day Saints
Salt Lake City, UT
05.1995 - 04.1996
- Developed a custom application to partition investment portfolio returns by asset class, sectors, and managers relative to benchmarks. Tracked Currency hedges, traded commercial paper. Monitored asset allocation strategy for entire portfolio.
Associate
Aegis Capital Markets
New York, NY
05.1993 - 05.1995
- Modeled the securitization of 12b-1 mutual fund fees. Involved with structuring, origination/marketing, sales education and servicing.
Education
MBA - Finance
Brigham Young University
Provo, UT04-1995
Master of Science - Statistics
Brigham Young University
Provo, UT04-1992
Bachelor of Science - Statistics
Brigham Young University
Provo, UT04-1990
Skills
- Portfolio allocation analysis and strategy
- Research analysis and presentation/publication
- Global client and senior management presentations
- Risk management & monitoring
- Expert Excel modeling and VBA programming (built proprietary structuring & hedging models)
- Project management
- Statistical analysis
- CRE Securitization (CMBS & CRE CLO)
- Loan hedging, pricing, structuring & trading
- Small business acquisition, analysis, negotiation, financing and execution
Designations
- CFA Charterholder Awarded in 2004
Certification
FINRA Series 7 & 63 (not current)
Published Works
- Contributing author to the book, “Structured Products and Related Credit Derivatives, A Comprehensive Guide for Investors” by Lancaster, Schultz, Fabozzi; 2008 John Wiley and Sons, Inc., Chapter 14: Commercial Mortgage-Backed Securities, Chapter 15: Understanding Managed CRE CDOs, Chapter 16: Synthetic CRE CDOs
- RAIT Expectations—Jobs Report, Mar 2011
- RAIT Expectations—Office Report Winter, Jan 2011
- RAIT Expectations—Apartment Report, Nov 2010
- RAIT Expectations—Prices, Cap Rates and Capital Flows, Sep 2010
- RAIT Expectations—Real Estate and CMBS Review, Mar 2010
- The 2008 CMBS Default and Loss Study, Mar 2008
- Premature Troubles in B-Piece Re-REMICS, Dec 2007
- B-Notes Revealed!, Oct 2007
- AAA Relative Value, Sep 2007
- CMBS Forum Sessions I, II and III, Aug/Aug/Oct 2007
- Investing in the Changing Face of Real Estate, Jul 2007
- Floating-Rate Defaults and Losses, Jun 2007
- Moody’s “Inoculates” CMBS, Apr 2007
- CMBS Primer (update), Apr 2007
- CMBS Prepayments, Dec 2006
- Understanding the Structure and Convexity of AAA CMBS, Jun 2006
Timeline
Head of Distribution/Securitization
Electra Capital
01.2021 - Current
Member/Director/CFO
B-Square Precision Group
10.2018 - Current
Sr. Managing Director, Securitization
RAIT Securities
09.2009 - 04.2018
Managing Director, Global Real Estate Strategies, Real Estate Division
Wachovia
02.2008 - 06.2009
Director/MD, Structured Products Research
Wachovia
02.2005 - 02.2008
Vice President, Commercial Mortgage Trading
First Union / Wachovia
10.1998 - 02.2005
Risk Aggregation Team
Koch Industries Inc.
09.1997 - 10.1998
Vice President
Delphi Structured Finance Corp.
04.1996 - 09.1997
Investment Analyst
Church Of Jesus Christ Of Latter Day Saints
05.1995 - 04.1996
Associate
Aegis Capital Markets
05.1993 - 05.1995
MBA - Finance
Brigham Young University
Master of Science - Statistics
Brigham Young University
Bachelor of Science - Statistics
Brigham Young University