Board of directors

Robert W. Doede

PhD, Chairman

Mr. Doede is a retired private investor whose career spans more than 25 years in the investment business. Most recently, he was majority stockholder, Chairman, and President of Centurion Capital Group Inc., a California based asset management organization that manufactured and distributed a broad range of investment products including separate account, mutual fund, and variable annuity wrap programs. Mr. Doede holds a PhD and MA, both in Economics, from the University of Chicago and a BA in Economics from Yale University.

Centurion Capital Group had two major wholly owned operating subsidiaries: Centurion Capital Management Corp., based in Los Angeles and Centurion Trust Company, based in Phoenix. The firm also acquired other investment advisory firms and fully integrated them into the Centurion subsidiaries over the course of its history.

Centurion Trust Company also provided the seed money and served as investment manager to the Centurion Funds, Inc. Centurion Capital Group Inc. was sold to GE Financial Assurance Holdings, Inc., a subsidiary of GE (General Electric) Capital in December 2001, at which time the subsidiaries were renamed GE Private Asset Management, Inc. and GE Financial Trust Company. Mr. Doede remained an advisor to them following the sale until December 2003.

Mr. Doede is a past member of the Board of Trustees of the Bishop's School, La Jolla, CA, having served as Chairman of their Finance Committee. He is also a past member of the Board of Directors/Trustees of California Western School of Law, San Diego, CA, University of California San Diego Cancer Center, San Diego Symphony, and the La Jolla Chamber Music Society.

Mr. Doede co-founded Catallactics Corporation, a specialty service firm for trust departments at major banks. He served as the chairman of the board of Catco, Inc., parent company of Catallactics. He also ran his own investment fund, and served on the boards of Concentric Network Corporation, Glenwood Trust company, Quantum, Inc., and Jefferies & Company.

Mr. Doede holds a PhD and MA, both in Economics, from the University of Chicago and a BA from Yale University, with a major in Economics. He also taught economics at the University of Pennsylvania Wharton School.

 

Joseph J. Duran

Joe Duran is Chief Executive Officer and a founding partner of Capital Financial Partners, Inc. An author and widely recognized expert in the field of entrepreneurship, Joe was previously president of GE Private Asset Management (formerly Centurion Capital Management). He joined Centurion in 1992 when it was a small independent advisor and led the company to rapid growth with billions under management, culminating in the sale to GE Financial in 2001.

During Joe's tenure as the business leader at GE Private Asset Management and Centurion Capital, he created valuable firms with nationwide coverage, built unique investment solutions and consummated many multi-million-dollar acquisitions. Joe has actively raised capital from three private equity funds (Grail Partners, LLC, Putnam Lovell Partners and Bessemer Venture Partners) to invest, among these firms, over 45 million dollars of capital.

Joe holds the Chartered Financial Analyst designation and received MBA degrees from Columbia University in New York and the University of California at Berkeley. He did his undergraduate work at Saint Louis University earning a BS in Finance and Marketing.

He is the author of two nationally published books: Start It, Sell It and Make a Mint: 20 Wealth Creating Secrets for Business Owners (Wiley and Sons, 2004), and The First Time Investors Workbook (McGraw Hill, 2001). Joe is a frequent contributor to a wide variety of media outlets, including CNBC, Bloomberg TV and radio, CNNfn and dozens of radio shows. His articles have appeared in over a hundred magazines and he has been featured on numerous websites.

 

Frank C. Meyer

Mr. Meyer is a private investor who most recently was chairman of Glenwood Capital Investments, LLC, an investment advisor specializing in hedge funds, which he founded in January 1988, and from which he resigned in January 2004. Since October of 2000, Glenwood has been a wholly owned subsidiary of the Man Group, plc, an investment advisor, based in England, that specializes in alternative investment strategies. From September 1986 through December 1987, Mr. Meyer was a general partner of Knightsbridge Partners, a firm engaged in leveraged buyouts.

Subsequent to his withdrawal from Knightsbridge, he remained involved as an investor and a board member in several of the Knightsbridge companies, including: Pheoll Manufacturing of Minnesota, Inc., a distributor of fasteners and adhesives; Tasty Frozen Products, Inc., a firm selling frozen bakery products to supermarkets; and, SuperCuts, a franchisor of hair salons. From November of 1973 to September of 1986, his activities included acting as co-manager of Grosvenor Partners, a fund with an investment program in hedge funds similar to that of Glenwood. During this time period, he was also a managing partner of several investment entities and registered securities broker/dealers, including a dealer in options on government securities (Dorchester Partners) and a dealer in zero coupon bonds (Belvedere Securities).

Before 1973, he was employed at A.G. Becker & Company, where he helped redesign that firm's performance measurement service for pension funds. Mr. Meyer received his B.A. and M.B.A. from the University of Chicago and began his career at the university's School of Business as an instructor of statistics. During his career, Mr. Meyer has served as an outside director on a several companies, including Quality Systems, Inc. (a public company specializing in software for medical and dental professionals), Bernard Technologies, Inc. (a firm specializing in development of industrial processes using chlorine dioxide), and Centurion Trust Company of Arizona (where he served as a non-executive Chairman until its purchase by GE Financial). Currently, he is on the board of New World Restaurant Group, Inc., a firm operating in the quick casual segment of the restaurant industry.

 

Michael L. Klowden

Michael Klowden is President and CEO of the Milken Institute. During his tenure there, the Institute has increased its global outreach, working on projects as diverse as China's financial system to an economic road map to peace in the Middle East. Mr. Klowden has overseen the expansion of the Institute's research into such areas as the life-sciences industry and global risk; the creation of its newest initiative, FasterCures / The Center for Accelerating Medical Solutions; and the transition of the Institute from a private foundation to a publicly supported charitable organization. Klowden joined the Institute in 2001 from Jefferies Group Inc., a global investment bank and institutional securities firm.

At Jefferies, he served as vice chairman, president and chief operating officer, and had direct responsibility for all of the firm's production units, including investment banking; asset management; research; and equity, convertible, high-yield and international securities trading. During his tenure, revenues rose 240 percent, net earnings 550 percent and share price 650 percent. Prior to joining Jefferies, Klowden was a senior partner at Morgan, Lewis & Bockius, an international law firm he helped expand to more than 1,000 attorneys. He served as one of the four members of that firm's Management Committee, and was managing partner of the Los Angeles office and national vice chairman of the firm's Business and Finance practice. In addition to his management responsibilities, Klowden developed a large legal practice that emphasized financial institutions, securities, mergers and acquisitions, real estate and corporate counseling. Before joining Morgan, Lewis & Bockius, Klowden was a partner at the law firm of Mitchell, Silberberg & Knupp, where he practiced business law for a primarily entertainment-industry client base. Klowden has been involved in at least 100 business combinations of various sizes and types, and in scores of public and private securities offerings. He has served on several corporate boards and is a trustee of the University of Chicago.

Klowden received his bachelor's degree from the University of Chicago in 1967, and his JD from Harvard Law School in 1970.

 

Rob Stavis

Rob Stavis is a Partner in Bessemer's Larchmont, NY office. He focuses on investments in the financial services sector as well as in emerging software technologies. Since joining BVP, Rob has led the firm's investments in and sits on the boards of the independent research companies Gerson Lehrman Group and Soleil Securities, CRM software developer Portrait Software (formerly AIT Group, LSE-AIM: PST), financial marketplace Zopa, leads generator Yodle, online creative messaging service Smilebox, online educational website Knewton, and the stock loan focused Broker/Dealer financial services company Quadriserv. He was closely involved in BVP's investment in Motilal Oswal Financial Services, an India-based financial services and brokerage company, which has since gone public on India's Bombay and National Stock Exchanges as MOSL.

His exited investments include website security rating firm SiteAdvisor (acquired by McAfee), home network management software provider Pure Networks (acquired by Cisco), pre-paid debit card provider PRE Solutions (acquired by Incomm), the financial services analytics company LifeHarbor (acquired by Vestmark), and Skype Technologies (purchased by E-bay in 2005), where Rob led the A round.

Prior to joining Bessemer in 2000, Rob was an independent private equity investor. In this capacity, he led the A round and served on the board of Arbinet (NASDAQ:ARBX), the world's leading electronic market for trading, routing, and settling communications capacity. He also managed a portfolio of interests in a number of industries, including telecommunications, software, technology, and restaurants. His restaurant partnerships have backed such operations as Union Pacific, Calle Ocho, Django, Rain and BLT Prime. Rob entered private equity after a 15-year career at Salomon Smith Barney, where he became co-head of global arbitrage trading. He was a member of Salomon's operating and risk management committees, and chaired the recruiting committee, in addition to managing a $100 billion balance sheet.

Rob holds degrees from the Engineering School of the University of Pennsylvania and the Wharton School of Management. He has published articles on derivatives pricing and risk management for financial services companies. Rob's charitable work includes serving as president of the board of WJCS, Westchester County's oldest and most comprehensive social-service agency, and formerly as a director of The Kingswood-Oxford School and the Larchmont Temple.

 

Kenneth R. Jensen

Mr. Jensen is a business consultant and strategic advisor and serves on the Board of Directors of United Capital Financial Partners, Inc.

He was previously Executive Vice President, head of mergers and acquisitions, Chief Financial Officer, Treasurer and a Director of Fiserv, Inc. from its establishment in 1984. Appointed Senior Executive Vice President in 1986. Retired from Fiserv employment in July 2006 and from the Fiserv Board in May 2007.

Mr. Jensen was also Senior Operating Executive with Welsh, Carson, Anderson, and Stowe since December 2006, focused on investments in the information and business services industry, Director of Alliance Data (a public company engaged in loyalty programs and credit card processing) since February 2001, and Chief Financial Officer of SunGard Data Systems, Inc. in 1983.

From 1968 to 1982, he was a founder and for most of those years Chief Financial Officer of Catallactics Corporation, a financial services company, and from 1974 to 1980, also Chief Financial Officer of Market Research Corporation of America.

Mr. Jensen holds an A.B. in Economics from Princeton University, MBA in Accounting, Economics, and Finance from the University of Chicago, and a PhD in Accounting, Economics, and Finance from the University of Chicago.

 

Eric Arnold

Eric Arnold is a Senior Associate working with Rob Stavis in the New York office. He focuses on the financial services, consumer internet, and media sectors.

Most recently, Eric was a Senior Associate with Battery Ventures, where he originated the firm's investment in TrialPay, a cashless online payment system. He served on the board of the music site Ruckus Networks and Panjiva, a data analytics business. Eric was also Battery's board observer at both TrialPay and Fintura, an outsourced credit card originator. Earlier, he was an Investment Analyst in the Venture Capital Group at the World Bank's International Finance Corporation, identifying early stage technology investments in emerging markets. Among his investments with IFC was Novica, a global artisan e-commerce company. Eric has also worked in the internal incubator group of InterActiveCorp, and began his career in Morgan Stanley's Merger and Acquisitions group.

Eric holds an MBA from Harvard Business School, and a B.S. in Applied Economics and Business Management, magna cum laude, from Cornell University.

 

William (Bill) Parent

William Parent joined Grail in November 2007 as Chief Investment Officer. His focus is on the continued development of Grail's merchant banking activities.

Bill has 25 years experience in the financial services industry through his career as an investor, advisor, operator and auditor. His prior experience includes being a Partner at DLB Capital, LLC, a private equity investment firm focused on financial services. Prior to DLB, Bill was Managing Director and Co-Head of BankBoston Capital, a $380 million middle market buyout group within Bank of America. His responsibilities included leading a team of seven investment officers, acting as a lead investor for sixteen private equity investments and serving on the board of ten portfolio companies. Prior to BankBoston Capital, Bill held numerous roles at BankBoston Financial, including Director of Mergers & Acquisitions where he was responsible for strategy evaluation, transaction structuring and negotiation and post-closing integration. In addition, he was the Regional President for Connecticut and Western Massachusetts and the Chief Financial Officer of BankBoston's largest banking subsidiary.

Bill spent the first six years of his career at KPMG focused on providing audit and consulting services to a broad range of financial services clients.

Bill is currently a non-practicing CPA and holds a BS from Bentley College. He is also a member of the Board of Overseers for Joslin Clinic and the Development Committee for Weideko Children's Services