Principal, Wealth Management @ Novarica, division of Novantas
Senior Vice President, Wealth Management @ Celent, division of Oliver Wyman
Bachelor, Business Administration; Accounting major; Mathematics major @
University of Michigan
Financial Services Strategic Consultant. Previously, Senior Executive with over twenty years P&L leadership in retail sales and marketing of financial products and services. Industry experience includes banking, brokerage, asset management and insurance. Record of significant achievements in revenue enhancement, strategic planning, start-up programs, customer relationship management and operational optimization. Earned CPA, securities principal and insurance licenses. Assistant
Financial Services Strategic Consultant. Previously, Senior Executive with over twenty years P&L leadership in retail sales and marketing of financial products and services. Industry experience includes banking, brokerage, asset management and insurance. Record of significant achievements in revenue enhancement, strategic planning, start-up programs, customer relationship management and operational optimization. Earned CPA, securities principal and insurance licenses. Assistant Professor. Harvard MBA.
Specialties: Financial services management, consulting, strategy, investments
Consulting Principal @ Responsible for advising commercial banks, investment banks, insurance companies and brokerage firms on strategy, marketing and sales development. Special expertise in turning around underperforming units, developing strategic plans and products, operations, technology and sales culture improvements. Engagements included:
Developed and implemented a specialty retail bank and investment group for large national insurance company, focusing on product development, operating systems and legal and regulatory issues.
Prepared a strategy and technology assessment for a $30 billion investment consulting firm.
Designed foundations of a customer profitability and CRM for institutional division of large international commercial and investment banking firm.
Implemented new operational risk process resulting in a reduction in risk-reserve capital (Basel II) for global card, payments, banking and travel company.
Developed and implemented a strategic plan for regional brokerage firm transitioning to 3rd generation management. From January 2004 to Present (11 years 10 months) Principal, Wealth Management @ Responsible for advising technology firms, insurance companies and brokerage firms on wealth management strategy. Emphasis on wealth management technologies, including platform and planning systems, client segmentation and marketing. Author of industry reports on wealth management industry, retailing variable annuities, wealth management core systems, social networking and IT savings in wealth management, online brokerage best practices, advisor portals and 401(k) technology development. From 2009 to 2010 (1 year) Senior Vice President, Wealth Management @ Advisor to commercial banks, technology firms, insurance companies and brokerage firms on wealth management strategy. Author of industry reports on UMAs, TAMPs, brokerage trends and developments, analysis of the mass-affluent market, bank-provided wealth management (brokerage and trust companies), retirement income planning, family offices and compliance systems.
Proposed and won over $1MM in consulting engagements. Clients included:
International bank assessing US opportunities
Two large Japanese brokerage firms seeking entry to US SMA market
Large US mutual fund company on comparable compliance technologies
Insurance company trust subsidiary conducting strategic planning, trust systems and operational optimization
US exchange conducting global research (15 markets) on active traders
Trust technology vendor developing new "go-to-market plan"
Large asset manager developing new business channels
Technology vendor assessing impact of new regulations on broker dealer industry From 2006 to 2009 (3 years) Director, Trust & Investment Services @ Responsible for rebuilding troubled $250 million trust operation and developing new brokerage program for $800 million community bank.
Added over fifty new trust accounts (over $40MM in assets).
Rebuilt trust operations to lower costs by $100,000 per year.
Developed new investment program generating profits of $20,000 per month. From 2002 to 2004 (2 years) Executive Vice President, Private Client Group @ Responsible for developing a new approach in serving the most profitable bank customers with integrated sales management and customer-centric delivery through the Private Client Group (PCG), a new organization at the $17 billion bank. Divisions managed include Hibernia Investments, LLC (brokerage with 40,000 clients and $1.6 billion in assets), Hibernia Asset Management ($9.3 billion in custody, $4.7 billion under management), Hibernia Personal Trust, Hibernia Institutional Trust, Hibernia Life Insurance, and Client Advisory Services (financial, tax and estate planning). PCG employs 320 employees and contributes more than 20% of non-interest revenue.
Strategic Roles and Responsibilities:
Developed the first strategic plan, with annual updates, emphasizing a customer-centric approach focusing on team sales with outstanding customer service.
Acquired life insurance agencies and asset management firms to fill strategic gaps, and planned divestiture of $1 billion mutual fund complex for better strategic focus.
Created team selling and associated incentive plans to support customer-centric focus with product neutrality.
Developed new high net-worth profiling system to facilitate team selling, then implemented new automated sales management system.
Built partnership to offer sophisticated business transition and personal financial planning for high net-worth customers.
Named to Executive Sales Team featured in US Banker (5 members).
Private Client Group generated $58 million of annual revenue and earned $25 million of direct profit in 2001.
Managed one of the top-rated bank broker/dealers in the US in terms of profitability and sales per broker (75 branch-based brokers, 9 discount brokers and 6 high-end investment advisors).
Operated the largest asset management operation in Gulf South ($9.3 billion in custody, $4.7 billion under mgmt).
Received an OCC "1" rating for Trust areas, only part of Bank to get best score possible. From January 2000 to January 2002 (2 years 1 month) Senior Vice President, Delivery Channels Manager @ Responsible for all non-branch delivery channels, including e-commerce (internet-based), call centers, ATM's, and card products (debit and credit) for the Bank. Other responsibilities included mass-market insurance sales, database marketing, non-branch delivery channels training (customers and employees) and delivery channels integration.
Member of five-person Retail Strategy Team responsible for consumer and small business segmentation, product development and delivery channels strategies.
Managed rollout of online banking product for consumers and small businesses. Over 70,000 consumer and small business users.
Added online trading and insurance sales to online banking system.
Built web-enabled call center to increase internet sales. From January 1999 to January 2000 (1 year 1 month) Senior Vice President, Alternative Sales @ Created Hibernia's Direct Bank and Database Marketing Departments to acquire, sell, retain and serve consumers and small businesses. Responsible for outbound and inbound sales fulfillment, customer retention, database marketing and direct mail.
* Developed and implemented the strategic plan for the Outbound Call and Sales Fulfillment Center in Baton Rouge. Named Call Center magazine's 1997 Banking and Finance Call Center of the Year.
* 1998 sales of $152 million in loans and gathering of over $58 million in new deposits generating a portfolio with a $12.1 million NPV. New deposit funds percentage increased to 90% of total assets gathered.
* Featured in Bank Technology News, Call Center, Telemarketing and TeleProfessional, plus Hibernia Annual Reports. From January 1995 to January 1999 (4 years 1 month) Director of Business Development @ From January 1993 to January 1995 (2 years 1 month) General Manager @ From January 1992 to January 1993 (1 year 1 month) President @ From January 1984 to January 1992 (8 years 1 month) Manager of Finance @ Overhaul and Repair From January 1982 to January 1984 (2 years 1 month) Senior Tax Accountant @ From January 1978 to January 1980 (2 years 1 month)
Master, Business Administration; General Management curriculum @ Harvard Business School From 1980 to 1982 Bachelor, Business Administration; Accounting major; Mathematics major @ University of Michigan From 1974 to 1978 Robert J Ellis is skilled in: Investments, Insurance, Asset Management, Banking, Wealth Management, Strategic Planning, Portfolio Management, Start-ups, Business Strategy, Business Planning, Financial Analysis, Compliance, Analysis, Marketing, Strategy, Retirement Planning, Business Analysis, Mutual Funds, Process Improvement, Risk Management, Sales Management, Investment Banking, CRM, Finance, Management, Leadership, Financial Services, Securities, New Business Development, Separately Managed..., Unified Managed Accounts, Business Development, Due Diligence, Mergers & Acquisitions, Consulting, Strategic Financial...