. Lee Jacobson, First Marblehead Corporation, VP - Investor Relations . Daniel Meyers, First Marblehead Corporation, President and CEO
Co. reported that it made $371m in FY07 and lost $235m in FY08.
A. Key Data From Call 1. Co. made $371m in FY07. 2. Co. lost $235m in FY08.
S1. Investor Briefing (D.M.) 1. Dan Meyers: 1. Dan Meyers is back as CEO of FMD for 25 days. 2. Transformation: 1. FMD has undergone countless transformations since it was founded in 1991. 2. Originally provided customized loan programs for schools. 3. Performed no origination, underwriting, collection, or guarantee function. 4. Ten years later, following the purchase of TERI's operating assets, Co. expanded its lender relationships significantly while building its own origination and collection capacities and its own industry-leading loan repayment database. 5. From FY93 through FY08, annual facilitation volume grew from $1m to $5b. 6. Provided financing for more than 1m students and families. 7. Increasing demand is the fundamental tailwind, but current environment has shut down securitization markets, which has been the source of …