词条 | Joseph Fichera |
释义 |
| honorific_prefix = | name = Joseph Fichera | honorific_suffix = | image = Profile Picture of Joseph Fichera.png | image_size = | alt = | caption = | native_name = | native_name_lang = | birth_name = Joseph Sebastian Fichera | birth_date = | birth_place = Rochester, New York | baptised = | disappeared_date = | disappeared_place = | disappeared_status = | death_date = | death_place = | death_cause = | body_discovered = | resting_place = | resting_place_coordinates = | monuments = | residence = | nationality = | other_names = | ethnicity = | citizenship = | education = B.A. M.B.A. | alma_mater = Princeton University Yale School of Management | occupation = | years_active = | era = | employer = | organization = | agent = | known_for = Founder, Saber Partners, LLC | notable_works = | style = | home_town = | salary = | net_worth = | height = | weight = | television = | title = | term = | predecessor = | successor = | party = | movement = | opponents = | boards = | religion = | denomination = | criminal_charge = | criminal_penalty = | criminal_status = | spouse = | partner = | children = | parents = | relatives = | callsign = | awards = | module = | module2 = | module3 = | module4 = | module5 = | module6 = | signature = | signature_alt = | signature_size = | website = Joseph Fichera bio | footnotes = }}Joseph Fichera is an American business executive known primarily for his work in the fields of investment banking and financial services. He is the CEO of Saber Partners, LLC, a public advisory firm that he co-founded in 2000.[1] Prior to Saber, he worked for various Wall Street firms including Smith Barney, Harris Upham & Company, Prudential Securities and Bear Stearns & Co., as a managing director, principal.[2] Fichera is the creator of share-adjusted broker-remarketed equity securities, also known as SABRES, as an alternative to auction rate securities.[3] He is also considered an expert at auction rate securities, serving as an expert advisor for the U.S. Securities and Exchange Commission.[4] Fichera was also one of California Governor Gray Davis' advisors, assisting with the California electricity crisis that took place in 2000 and 2001.[5] Early life and educationFichera was born in Rochester, New York in 1954, his father a bookkeeper and his mother a hairdresser.[6] His grandfather was a barber who emigrated from Sicily in 1910.[7] Fichera grew up in Rochester and as a teenager was outspoken about racial desegregation of Rochester schools in the 1960s, becoming a student representative on the Board of Education for Rochester New York.[6] Fichera earned a full tuition scholarship to Princeton University where he graduated with a degree in public and international affairs in 1976.[6] Upon graduation, Fichera worked as a political appointee for the Department of Housing and Urban Development during the administration of Jimmy Carter.[6] He left HUD three years later to attend the Yale School of Management, obtaining an M.B.A. from the school in 1982.[6] CareerFichera began his financial career with Morgan Stanley Wealth Management, then known as Smith Barney, Harris Upham & Company.[6] It was during his time with Smith Barney that he gained experience in the auction-rate market and challenges to it, landing ExxonMobil as a client in 1987.[3] He advised Exxon on how to reduce interest costs by adjusting rates and repricing periods on its tax-exempt debt and selling them when conditions were more favorable.[6] Fichera also advised them not to sell auction rate securities, instead leading them to share-adjusted broker-remarketed equity securities (known as SABRES), an alternative to auction rate securities created by Fichera in 1988.[8] Exxon made a $750 million deal with Smith Barney, the largest single program of variable preferred stock up until that time.[3] He held the position of Vice President of Corporate Finance before moving on to Bear Stearns & Co in 1989[9] as one of that company's directors of corporate finance and also spent time with Prudential Securities.[10] Fichera left Prudential in 2000 to form Saber Partners, a public advisory firm based in New York. He founded the firm along with William B. Moore, the CEO of Westar Energy from 2007 to 2011.[6] Some of the firm's first clients included Exxon Corporation and the Governor of the State of California. The firm became notable for its work in the $40 billion securitization bond market for ratepayer bonds that are used to fund power utilities.[6] Fichera pushed for the United Kingdom's Financial Services Authority to recognize ratepayer bonds as a form of government guaranteed debt, allowing the bonds to be sold to investors in the United Kingdom and other European countries at a lower rate than investors in the United States.[6] The new marketplace reduced the interest cost that utilities paid on interest for the bonds.[6] Fichera worked with government regulators in Wisconsin, Texas, Vermont, New Jersey, Florida and West Virginia with ratepayer bonds.[6] Fichera's Saber Partners partnered with The Blackstone Group to advise then Governor Gray Davis during the California electricity crisis of 2000 and 2001, on the state's potential acquisition of the investor-owned utilities electric transmission lines.[11] The results included potentially selling of up to $33 billion of bonds to save utility companies from going bankrupt and stabilize the electricity market.[11] Fichera has been a consistent critic of auction rate securities. In 2006, he was hired by the U.S. Securities and Exchange Commission as an expert advisor into its probe of security bidding practices.[6] Its investigation led to a cease and desist order being issued to 15 banks, all of whom settled with the SEC for $13 million without having to admit any violations.[6] He has advocated greater transparency in securities markets, especially for corporate securitized and asset-backed debt. In November 2014, in a New York Times op-ed, Fichera also proposed that the S.E.C. adopt a points system in addition to fines similar to a D.M.V. in order to change the behavior of repeat offenders through a more effective deterrent.[12] As an expert on auction rate securities, Fichera is often quoted on the subject by major news publications including The New York Times, The Wall Street Journal, and Bloomberg Businessweek.[13][14][15] He also has served as an adjunct visiting lecturer in public and international affairs at the Woodrow Wilson School of Public and International Affairs at Princeton University.[16] In April 2018, Fichera received [https://www.niaf.org/about-the-niaf/ The National Italian American Foundation] Special Achievement Award in Finance for his "considerable accomplishments in the world of corporate finance." [17] References1. ^{{cite web|title=Joseph Fichera commentary on CNN|url=https://www.youtube.com/watch?v=qVaRHZzK4vo|website=CNN|publisher=YouTube|accessdate=25 February 2015}} 2. ^{{cite news|last1=Rabin|first1=Jeffrey L.|title=Advisors Own No Electricity Stocks|url=http://articles.latimes.com/2001/aug/04/local/me-30503|accessdate=25 February 2015|publisher=The Los Angeles Times|date=4 August 2001}} 3. ^1 2 {{cite news|last1=Winkler|first1=Matthew|title=Smith Barney's Fichera Winning Business Duels With His Sabres Issues, Including Exxon Corp.|url=|accessdate=|publisher=The Wall Street Journal|date=13 December 1988}} 4. ^{{cite news|last1=Gillers|first1=Heather|last2=Grotto|first2=Jason|title=Banks kept CPS in shaky bond market|url=http://www.chicagotribune.com/news/watchdog/cpsbonds/ct-chicago-public-schools-bonds-banks-met-20141107-story.html#page=2|accessdate=25 February 2015|publisher=Chicago Tribune|date=10 November 2014}} 5. ^{{cite news|last1=Benson|first1=Mitchel|last2=Zuckerman|first2=Gregory|title=California's Next Test in Its Power Crisis: Selling $12.5 Billion of Electricity Bonds|url=https://www.wsj.com/articles/SB996524815833672429|accessdate=25 February 2015|publisher=The Wall Street Journal|date=31 July 2001}} 6. ^1 2 3 4 5 6 7 8 9 10 11 12 13 {{cite news|last1=Quint|first1=Michael|title=Wall Street's Customer's Man Unmasked Auction-Rate|url=https://www.bloomberg.com/apps/news?pid=newsarchive&sid=ayt3SY18jeo4&refer=home|accessdate=24 February 2015|publisher=Bloomberg|date=30 May 2008}} 7. ^{{cite web|last1=Fichera|first1=Joseph S.|title=In Memoriam: Sebastian Joseph Fichera, 1920 - 2013|url=http://saberpartners.com/blog/?p=233|website=Saber Partners official website|accessdate=2 March 2015}} 8. ^{{cite news|title=New Preferred Shares Open Windows|publisher=Business International Money Report|date=7 May 2008}} 9. ^{{cite book|last1=Kuhn|first1=Robert Lawrence|title=Capital Raising and Financial Structure, Volume 2|date=1990|publisher=Dow Jones-Irwin|isbn=9781556232497}} 10. ^{{cite news|title=Power to Fichera|url=http://www.institutionalinvestor.com/Article/1027918/Research/4094/Overview.html#.VO4sZuH0eXc|accessdate=25 February 2015|publisher=Institutional Investor|date=1 June 2001}} 11. ^1 {{cite news|last1=Brull|first1=Steven|title=Joseph Fichera headed to Sacramento to help keep the lights on|url=http://www.institutionalinvestor.com/article/1027865/ficheras-long-hot-summer.html#.VO4dfeH0eXc|accessdate=25 February 2015|publisher=Institutional Investor|date=July 2001}} 12. ^{{cite news|last1=Fichera|first1=Joseph|title=The S.E.C. Should Copy the D.M.V.|url=https://www.nytimes.com/2014/11/07/opinion/the-sec-should-copy-the-dmv.html?_r=0|accessdate=6 April 2017|publisher=The New York Times|date=11 November 2014}} 13. ^{{cite news|last1=Morgenson|first1=Gretchen|title=It's a Long, Cold, Cashless Siege|url=https://www.nytimes.com/2008/04/13/business/13cash.html?pagewanted=all|accessdate=25 February 2015|publisher=The New York Times|date=13 April 2008}} 14. ^{{cite news|last1=Smith|first1=Randall|last2=Rapparport|first2=Liz|title=UBS to Pay $19 Billion As Auction Mess Hits Wall Street|url=https://www.wsj.com/articles/SB121820203736224137|accessdate=25 February 2015|publisher=The Wall Street Journal|date=9 August 2008}} 15. ^{{cite news|last1=Preston|first1=Darrell|title=Window Closing to Challenge Wall Street Over Swaps: Muni Credit|url=https://www.bloomberg.com/news/articles/2014-07-25/window-closing-to-challenge-wall-street-over-swaps-muni-credit|accessdate=25 February 2015|publisher=Bloomberg Businessweek|date=25 July 2014}} 16. ^{{cite web|title=Looming Threats in the Public Finance|url=https://www.youtube.com/watch?v=4E1Orkm8V08|website=Woodrow Wilson School of Public and International Affairs|publisher=YouTube|accessdate=25 February 2015}} 17. ^{{Cite web|url=https://www.niaf.org/events/niaf-new-york-gala-2018-review/#ad-image-2|title=NIAF New York Gala 2018 Review {{!}} The National Italian American Foundation|website=www.niaf.org|language=en-US|access-date=2018-05-31}} External links
4 : Living people|Yale School of Management alumni|Woodrow Wilson School of Public and International Affairs alumni|Year of birth missing (living people) |
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