James P. Scalfaro
CORPORATE TREASURY EXECUTIVE
Diversified experience in Fortune 300 global manufacturing and financial corporations. Demonstrated ability to motivate and lead people. Strong communication skills; effective in developing and maintaining external relationships. Areas of expertise and accomplishments include:
Risk Management & Financial Controls Investments Corporate Finance
Restructuring & Integration Bank Relations CapEx & Leasing
Interest Rate Risk Management Capital Markets Foreign Exchange Hedging
Sealed Air Corporation Elmwood Park, NJ 2000 to 2016
(A Fortune 300 company in the packaging and cleaning sectors that generated revenues of approximately $8 billion; approximately 25,000 employees serving customers in 175 countries.)
Assistant Treasurer (2008 – 2016)
Director, Corporate Finance (2000 – 2008)
Developed and implemented strategies to protect, secure and grow corporate financial resources. Managed the financial risks of the corporation and the corporation’s capital structure, liquidity position and funding strategies. Executed and managed various aspects of corporate finance to include but not limited to debt issuance, loan negotiations, stock repurchases and off-balance sheet transactions. Established and enhanced relationships and prepared presentations for banks and rating agencies.
Key participant in financing the $4.3billion acquisition of Diversey, Inc., via execution of both a bridge and permanent $3 billion Credit Facility with a 5-year multicurrency $700 million Revolver, a $1.1 billion and $1.2 billion Term Loans with tranches denominated in CAD, EUR, JPY and USD and $1.5 billion of High Yield Bonds.
Recommended, transacted and unwound $100 million of fixed-floating rate swaps in 2014, resulting in a $5 million gain.
Lead member of team that recommended and executed $100 million BRL cross currency swaps that solved a challenging funding requirement in Brazil in a tax efficient manner, resulting in approximately $15 million of annual savings.
Tendered and refinanced two note issuances totaling $850 million. Transactions covered near term maturities, reduced concentration risk, refinanced a high coupon callable note, and saved the company approximately $4 million.
Led a cross-functional 10 person team in the design, development and implementation of a global capital expenditure system that resulted in approximately $12 million of annual savings by monitoring the performance, spend and timeliness of capital projects.
Managed a cross-functional 5 person team in the development and implementation of a global equipment vendor financing program. The program increased sales by $20 million annually, reduced counterparty credit risk, and obtained sales accounting treatment.
As a member of the Capital Investment Committee, evaluated and approved global capital expenditures and acquisitions; recommended strategies to fund capital projects.
Developed and implemented an investment strategy for the corporation’s global funds. Worked with Tax Department and business units to develop tax effective means to repatriating funds.
Developed and implemented the Company’s foreign exchange, interest rate risk management and counterparty credit risk management policies and objectives. Reduced global counterparty credit risk by 98% ($225 million).
Developed and implemented a Master ISDA Schedule and a Master Lease Agreement. These documents provided Sealed Air with standardized approach for dealing with counterparties on favorable terms and simplify the process of adding new counterparties.
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Lehman Brothers, Inc. New York, NY 1997 to 2000
Vice President, Asset/Liability Management (Corporate Treasury)
Optimized the firm’s capital structure through the analysis and implementation of various debt, equity, interest rate, foreign exchange and off-balance sheet transactions.
Managed a $30 billion funding program that included long-term debt, MTN’s, CP and bank debt.
Repurchased $900 million of senior debt and unwound associated swaps for a net savings of $26 million.
Executed basis swaps to take advantage of decreasing interest rates that resulted in a savings of $17 million.
Managed a $2.5 billion stock repurchase program.
Treasury Consultant 1997
Assisted corporations and financial institutions in treasury and financing solutions.
Assisted RJR Nabisco with the divestiture of its two main operating units; established a treasury operation for the tobacco unit; provided consultative treasury services to both units.
RJR Nabisco, Inc. New York, NY 1990 to 1997
Senior Director, Treasury (1993 - 1997)
Director, Foreign Exchange & Interest Rate Management (1991 - 1993)
Senior Manager, Foreign Exchange (1990 - 1991)
Managed a $15 billion portfolio of interest rate, foreign exchange and energy exposures. Primary focused on establishing overall policy, developing and directing the implementation of proactive liability management strategies and cultivating capital market relationships with over 40 commercial and investment banks.
Evaluated foreign currency funding alternatives for a $300 million foreign acquisition. Saved the company approximately $4 million by utilizing capital markets opportunities.
Negotiated international receivables securitization and financing programs that saved the company approximately $2 million per year versus funding under its global revolver.
Developed, evaluated and implemented hedge strategies for the corporation’s foreign exchange exposures. Transacted $11.6 billion in foreign exchange volume during 1995 that enhanced returns by $26.7 million.
Produced interest expense savings in excess of $100 million by developing and implementing interest rate derivative strategies.
Assisted with the Initial Public Offerings of the stock of RJR Nabisco, Inc. and Nabisco, Inc.
Identified and executed an opportunity to monetize $65 million of derivative gains on existing bonds.
Bank of Montreal New York, NY 1981 to 1990
Manager Foreign Exchange Marketing (1988 - 1990)
Foreign Exchange Trader (1985 - 1988)
Money Market Trader (1984 - 1985)
Executive Leadership Program Rotation (1981 - 1984)
Dime Savings Bank of New York New York, NY 1978 to 1981
Senior Securities Administrator
Pace University, Graduate School of Business
MBA Finance and Computer Science, 1983
Saint Francis College
Bachelor of Science in Accounting, 1978