Over the past 7 years, Dan has been instrumental in making ShareBuilder the 6th largest online brokerage firm with over $2 billion in assets. During that time, he served as the Company's CFO and member of the Executive Management Team, securing venture financing, driving M&A activity, managing daily market risk and launching the ShareBuilder 401(k) product.
Dan joined ShareBuilder in 2000 as an Executive Officer and CFO; Dan served as a member of the Board of Directors of ShareBuilder Corporation prior to joining full time as an employee. Prior to ShareBuilder Dan worked for the investment and insurance group of GE Capital Services, now known as Genworth Financial. As Vice President, Business Development for GE Capital, he specialized in corporate finance, portfolio risk management, strategic investing and merger and acquisitions. During his tenure, he completed over 60 transactions and lead deal teams in completing acquisitions or investments ranging in size from $10 million, to transactions for several billion dollars. Prior to GE Capital Services, Dan held several senior investment positions at Washington Square Capital, a subsidiary of ING, and Piper Jaffray & Hopwood in Minneapolis.
Dan currently serves on the Board of Directors of Big Fish Games, an internet entertainment company based in Seattle. He holds Series 4, 7, 24 and 63 FINRA licenses and is a Chartered Financial Analyst (CFA) and a member of the CFA Society of Seattle.
Q & A
A successful transition from the investment world to corporate management requires a different skill-set. What experiences and/or education prepared you for this change in career path? How do you measure your own success?
Similar to the requirements for the CFA charter, a successful transition requires both experience and education. I took advantage of some great opportunities at GE Capital in their leadership development program as I moved into a private equity position. Being able to effectively lead a team is as important as the solid communication and presentation skills required to sell an idea to senior management. Adhering to the principles of the CFA Charter has been and remains an important element in my development.
Success measurement can be misleading. I find it frustrating that measurement can mean focusing on meeting certain numbers while completely ignoring the overall picture.
I think it's important to differentiate between goal attainment and leadership, though the prior is certainly easier to understand and explain. In the 2001/02 time period, ING Sharebuilder, at that time Netstock, suffered greatly during the market meltdown. Though certain numbers may not have been met, we did a great job leading that company through those tough quarters. We continue to be well-positioned to be a leader in the on-line, self-direct investment business.
Sharebuilder was recently acquired by ING. As CEO of an American-based company reporting to an European owner, how is this different from previous owners/managers, and what are the broader implications for global trade/business?
European investors are less directed by quarterly shifts, and invest with a longer-term view. I'd say it's an investment strategy more akin to Warren Buffett's value investing. They tend to have a minimal 3-5 year focus.
The implications of greater market influence by European-based companies? The biggest concern is that were the US Securities Exchange Commission to increase regulation such that it becomes more efficient for non-US companies to list on European exchanges in lieu of American exchanges.
How do you see the on-line, self-directed, investment business evolving over the next 5 - 10 years?
This is a growing, global industry. Improvements and availability of technology, coupled with rising middle classes provides increasing demand for this product. ING Sharebuilder is well-positioned to benefit from this growth.
Would you anticipate greater or lesser government oversight in on-line, self-directed investing?
I don't expect much change in the level of regulation. The industry is well regulated. I certainly wouldn't expect less regulation.
What is the probability that Americans will experience partial privatization of social security?
Greater than 0% - it's a difficult sell as long as the US Government is able to afford entitlement benefits.
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Some things we don't know...
about Dan
His Talent
coaching; specifically skiing. Dan coached Olympic champion Tommy Moe
Favorite Pastime
Boating in Puget Sound
Favorite Sport / Team
Minnesota Vikings
Favorite Book
The Moon is Down, by John Steinbeck
Favorite Vacation
Skiing; Sun Valley or Whistler
Pet peeve
Lack of integrity
Most memorable experience
Business trip to China in 1996 - it was early in the opening of China to western investors and quite eye-opening.
Most admired business leader
Mike Fraizer, Chairman & CEO, Genworth Financial Inc.
If I didn't hold my current job, I'd be...
cooking in a French bistro
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