Member-Only Course on Capital Markets – The Fundamentals is a Success

Engaging Q&A and CPEs from Session

Merrie Frankel leads the seminar on capital markets

As the FWA continues to focus on capital markets, a Member-only leadership course on capital markets fundamentals was held at Citrin Cooperman. The interactive workshop was presented by FWA Member Merrie S. Frankel, VP- Senior Credit Officer, Moody’s Investors Service; Adjunct Professor- Columbia and NYU. The event included insightful opening remarks and engaging Q&A with Citrin Cooperman Partner and FWA Member, Nick Florio, CPA. The session also provided Continuing Professional Education (CPE) credits for attendees.

Ms. Frankel is a senior credit officer and vice president in the commercial real estate finance group at Moody’s Investors Service, the global rating agency. At Moody’s, she is responsible for a ratings portfolio of more than 20 REITs and real estate operating companies in the United States and Canada. She has extensive experience in real estate portfolio management, commercial real estate and mortgage transactions, real estate law, and strategic consulting at Salomon Brothers, JP Morgan, Cushman & Wakefield, Ernst & Young and the Argo Funds. Further, Ms. Frankel is an adjunct professor in the real estate programs at NYU and Columbia; on the Urban Land Institute’s Women’s Leadership Initiative Executive board; and a co-chair of the FWA Directorships & Corporate Governance Committee.

FWA Board Members Hermina “Nina” Batson and Ria Davis flank Nick Florio

Mr. Florio provides business consulting and financial advice to a variety of closely held private businesses. He is an audit and accounting partner located in the firm’s New York City office. With over twenty years of experience in service businesses, Mr. Florio advises in the areas of valuation services, business consulting, and profitability analysis and helps clients with strategic corporate organization, as well as business and tax planning. In addition, Mr. Florio generously hosted this event and added helpful commentary given his vast industry experience.

Designed to touch on all facets of public and private capital providers including investors, the course highlighted public markets through a review of the recent history of securitized debt and equity; the major participants; and other deal formats. A pervading principle discussed was that financial structure can magnify / mitigate risk and return and influence/lender perception, transaction structure and pricing.

FWA Board Member Michele Maybaum with Merrie Frankel

Additionally, general topics that were discussed include an introduction to capital markets in the four quadrants debt/equity, public/private; equity markets, IPO’s, REITs; debt structures- syndications, commercial mortgage backed securities (CMBS), CDOs, ratings; opportunity funds; high yield market; mezzanine and partnership lending; Sarbanes-Oxley and Dodd-Frank; and capital market instruments like derivatives, swaps, caps and covered bonds.

FWA Member Tina Vizzini commented, “Members attended a fabulous Capital Markets symposium conducted by Merrie Frankel, co-chair of the Directorship and Corporate Governance Committee. Merrie is an extraordinary financial services professional with extensive knowledge and experience in the capital markets sector. This dynamic session was accompanied by a comprehensive PowerPoint presentation and attendees were engaged in varied topics driven interactions throughout the evening. Thank you Merrie!”

Special thanks to Citrin Cooperman and Nick Florio for hosting the program, and providing CPEs and to Merrie Frankel, co-chair of the Directorship and Corporate Governance Committee for leading the session.