Management Team

Philip Y. Berman

Chief Financial Officer

As a graduate from University of Cincinnati College of Business Administration, with a dual major in Accounting and Finance in 1982, Mr. Berman began his career in the Syndicate Department of Herzfeld & Stern, a first-tier regional firm with offices along the East Coast and Europe. In addition to performing the functions of the Syndicate Department, Mr. Berman had the opportunity to develop and execute a training program in the sale of what was then a new product, Zero Coupon Treasury Securities, educating the 500ong sales force on the intricacies of this new product. The sale of the company presented an opportunity for Mr. Berman to secure a position and gain experience on the Government Bond trading desk within the newly-merged firm, and he was charged with the responsibility of maintaining inventories of bonds for retail distribution as well as continuing the educational program for the acquiring firms’ salespeople.

Over the next several years, Mr. Berman continued to gain experience in various areas within the structure of a broker/dealer, including Operations, Compliance, Equity Trading, and Accounting. In 1987, he created the position of Operations Manager at Magna Securities (later to become Wellshire Securities), overseeing all clearing aspects of the firm for its 4 branch offices as well as the New York corporate headquarters. Professional licenses acquired during this time included the Series 7 (General Securities Representative), Series 63, Series 27 (Financial and Operations Principle), and Series 24 (General Principle). Specialized training in Rule 15c3-1 (Net Capital Requirements) and Rule 15c3-3 (Customer Protection Rule).

In 1989, Mr. Berman left the ‘Sell’ side of the industry to begin a Management Consulting firm, PJB Advisors Inc., focusing on the hedge-fund industry. For the past eighteen years Mr. Berman has advised his clients in the following areas :trading strategy, deal analysis, and general business of the fund including accounting, risk management, collateral management, and facilities management and Information Technology services.