Robert Blumenfeld, a senior vice president at Bryant Park Capital and president of ACG New York discusses how he transitioned from consulting to investment banking and how he sees the market developing in light of the changing conditions.
How did your experience in retail, manufacturing and distribution at April-Marcus, Blumenfeld Financial Group and ARG Recovery help you in investment banking?
Blumenfeld: I have been very fortunate in that I have been involved with three unique businesses that fostered creative/strategic thinking and allowed me to implement these changes in a well thought out and planned approach.
At April-Marcus (A-M), I learned the importance of taking ownership of a situation, creating a strategy and becoming responsible for its implementation. I was able to participate in the business from the time it was a small restructuring and turnaround firm with a handful of clients and through its subsequent rapid growth stage. A-M built a strong niche, turning around and operating 235 retail stores generating $250 million in revenue, building 10 different brands, as well as operating manufacturing facilities and a large in-house advertising agency (we even hired Terry Bradshaw and Buzz Aldrin for national advertising campaigns).
My first taste of investment banking was when April-Marcus and an apparel manufacturer reverse merged into a public shell with a $34 million NOL (similar in structure to PIPEs today). The interesting story here was that the public shell had purchased my …