Human Resources Management

PETER E. MCGRATTY, C.F.A.

********@*****************.***

********@**********************.***

*** – 919 - 4838

Precursor Research LLC November 2009 Present

Managing Partner, Chief Investment Officer

• Launched first independent research and advisory firm dedicated to financial advisors in March 2010.

• Support the investment / asset allocation process of advisors with …

Strategic Investment Outlook covering real economy, financial system and government.

o

Actionable asset class recommendations (equities, fixed income, real assets and alternatives).

o

Fund Selection.

o

• Support client communications with white label market commentary and client education.

• Please see www.PrecursorResearch.com for more information.

SV Partners LLC January 2009 – September 2009

Managing Partner, Head of Research & Marketing

• Partnered with former GMAC Bank/GMAC Prime Mortgage executives to advise private equity funds on investing in

distressed public and private financial companies.

• Provided guidance on investment strategies as well as legal and regulatory considerations. Offered due diligence

services. Sourced transactions.

• Closed when FDIC issued rules to specifically exclude private equity from bank recapitalization.

Calcine Management LLC November 2004 – June 2008

Portfolio Manager & Senior Analyst – Generalist

• Global long short equity hedge fund. Spin out from Ulysses Management.

• Absolute returns more than 2x the S&P 500 (net of fees) with less than 40% of the market’s volatility. Risk adjusted

returns (net of fees) 6.0x the S&P 500.

• Responsibilities included

Idea generation across industries (see attached table) and geographies. Key investment themes included

o

financials, energy and energy conservation, ubiquitous technology, food/agriculture and asset velocity. Key

regions included North America, Europe, Japan and Australia. Macro work on other regions.

Risk Management. Identified asymmetric payoff opportunities as well as basic hedging using stock index

o

options, currency options, interest rate options, and covered call writing to reduce portfolio risk. Measured

risk exposures by long / short / gross / net, actual / beta / delta, sector, theme, geography, currency,

security type, liquidity, technical. In 2007, fund managed volatility to 36% of the market at a net cost of

0.20%.

Marketing / Operations. Marketing in late 2007 / early 2008. Investigated and recommended fund

o

trading, accounting and administration systems. Partnership accounting (LLC).

1

PETER E. MCGRATTY, C.F.A.

********@*****************.***

********@**********************.***

201 – 919 - 4838

Principled Capital Management LLC November 2002 – March 2004

Portfolio Manager & Senior Analyst – Financial Sector

• Long short equity hedge fund. Farallon lead investor in fund.

• Responsible for financial sector investments in lending, market sensitive, insurance and processing companies.

Determine Software January 2000 – March 2002

Chief Financial Officer

• Enterprise software and services enabling Fortune 500 companies to manage contracts and financial obligations,

with initial emphasis on equipment finance.

• Acquired by Selectica in 2005. Determine Software platform replaced Selectica legacy platform.

• Customers included ADP, Alcoa, Burlington Industries, Chevron Texaco, International Paper, Time Warner and others.

Investors included NEA, Mohr Davidow and JP Morgan Chase.

• Responsible for establishing and managing funding ($30 million plus equity and debt), accounting, human resources

and facilities operations. Also responsible for competitive research and certain business development and marketing

projects.

NetProspect, Inc. March 1999 – December 1999

Chief Financial Officer

• Online consumer marketing company / infomediary.

• Responsible for establishing and managing funding, accounting, human resources and facilities operations. Also

responsible for competitive research and certain business development and marketing projects.

• Resigned following dispute about change in corporate direction and management team. Believed the changes were

detrimental to shareholder value. Subsequently lobbied Board to sell company or liquidate to monetize investor

interests.

Montgomery Securities August 1990 January 1998

Senior Research Analyst – Bank and Financial Stocks August 1995 January 1998

• Banks and GSEs with associated work in brokerage, credit card, asset management and mortgage.

• Diane Merdian and I built a street leading bank research franchise focused on original, relevant and thoughtful

research; and disciplined valuation and stock price targets. Recognized research included excess capital, capital

management through stock repurchases, the underlying economics of merger and acquisition transactions, valuation

and credit card loss rates.

2

PETER E. MCGRATTY, C.F.A.

********@*****************.***

********@**********************.***

201 – 919 - 4838

• Recognized by the Wall Street Journal as an “All Star Analyst”.

Montgomery Securities (continued) August 1990 January 1998

Research Associate Bank Stocks and Financial Stocks December 1993 July 1995

• Associate to street leading bank stock analyst, Dick Fredericks, covering banks, brokers and Sallie Mae.

• Banking provided a strong foundation in (a) issues associated with large capitalization stocks and mature industries,

and (b) macro economics. Also provided practical experience in mergers and acquisitions from both an investment

research standpoint and a sell side corporate advisory standpoint.

Research Associate Infrastructure Stocks January 1992 December 1993

• Engineering & construction, independent power, batteries and miscellaneous other. Exposure to basic materials.

• Provided foundation in small capitalization, non tech growth companies and corporate finance process as well as

basic skills such as financial modeling, investigative research and report writing.

Research Associate Environmental Stocks August 1990 January 1992

• Solid waste management, chemical waste management, environmental consulting and product manufacturers.

• Approached Head of Investment Banking at Montgomery Securities to initiate research on the environmental sector

based on my belief that the area would produce strong growth and investment banking. Plans were already in the

works and I was hired to join the team.

• Responsible for supporting research as well as administrative duties. Provided strong foundation in small cap

growth companies and basic research skills.

• Developed a talent for finding “hard to find” information.

Education & Accreditation

• Georgetown University, Bachelors of Business Administration, Class of 1990, Finance Major, Deans List

• Chartered Financial Analyst, Completed levels 1, 2 and 3 in May of 1992, 1993 and 1994 respectively.

• Previously Supervisory Analyst, Series 7 and Series 63 licensed.

• Wall Street Journal “All Star Analyst” for bank stocks.

3

PETER E. MCGRATTY, C.F.A.

********@*****************.***

********@**********************.***

201 – 919 - 4838

Publications

• “Out In Front”, Blog for Financial Advisors, Precursor Research LLC, April 2010 – present.

• “New Banks Would Help Small Businesses”, American Banker Op Ed, August 10, 2010

• “Bank Compensation Must Be Balanced”, San Francisco Chronicle Op Ed, January 13, 2010

• Source on series of Option ARM stories in WSJ Long & Short Column by Jesse Eisinger:

• “Banks Are Embracing Option ARMs, But Loans May Slip Through Fingers”, February 1, 2006

• “Sore ARMs? A Peek Inside Potential Mortgage Troubles”, August 10, 2005

• “Investors Fret Mortgage Balloons Will Burst”, July 27, 2005

Affiliations

• Alumni Interviewer, Georgetown University Admissions Department June 2010 – Present

• Advisor, Georgetown Center for Financial Institutions, Policy & Governance June 2010 – Present

• Advisory Board, MartinThomas Wealth Management October 2008 – October 2010

4

Contact this candidate