NVTC

CFO Series Event

October 18, 2012

Andy Smith
Principal
The McLean Group


Andy Smith is a principal of The McLean Group. He also leads The McLean Valuation Services Group, The McLean Group's business valuation practice, which performs business valuations for public and private companies for transaction, financial reporting, equity incentive plan, tax and estate planning purposes. He has broad experience in public accounting, investment banking and financial operations management. SmartCEO magazine named Smith one of Washington, D.C.'s Top 50 CPAs. Smith also has been a designated expert witness in numerous court cases.

Smith launched his career at KPMG Peat Marwick as a corporate finance and audit manager in Washington, D.C., Moscow, Russia and Almaty, Kazakhstan. He later joined Washington Equity Partners as an associate director, supporting various international wireless telecommunications transactions. He also was a strategic advisor to Lucent Technologies and a director of finance for a wireless telecom services company.

Smith is a graduate of the University of Richmond's E. Claiborne School of Business and a certified public accountant. In addition to frequently writing on business valuation issues, he has been an adjunct professor with George Mason University's MBA program and is a former national instructor with the National Association of Certified Valuation Analysts.



David Johnston
Senior Manager, Transaction Advisory Services - Valuation & Business Modeling
Ernst & Young

David Johnston is a senior manager in the McLean office of Ernst & Young's (EY) Valuation and Business Modeling practice. He is primarily responsible for providing valuation services to clients for financial and tax reporting purposes as well as assisting clients with strategic decisions around valuation.

In January 2011, Johnston relocated from Dallas, where he has served clients for EY for more than eight years, to EY's McLean, Va., office, where he serves clients within Virginia and across the Mid-Atlantic. Johnston has worked with a number of clients within software and technology sector.

Prior to re-joining EY, Johnston worked at Goldman Sachs Group Inc. (Goldman) where he was responsible for investing capital on behalf of Goldman's balance sheet. At Goldman, Johnston made principal investments (both debt and equity) into middle-market U.S. companies. As a principal investor, Johnston was responsible for originating transactions, negotiating term sheets and credit agreements, underwriting the potential investment and managing the investment through the investment lifecycle. Johnston is also well-versed in the structuring of transactions via senior-secured/convertible debt, convertible preferred stock, warrants and common equity.

Johnston received an M.S. in administration from the University of Notre Dame and a bachelor's in business administration from the University of Oklahoma in finance. Johnston is also a certified public accountant and a senior member of the American Society of Appraisers.



Mark McMahon
Managing Director
Alvarez & Marsal


Mark McMahon is a managing director with Alvarez & Marsal Valuation Services in New York, where he leads the group's alternative asset manager advisory services. McMahon brings more than 17 years of experience and specializes in the valuation of illiquid securities and interests across various strategies and asset classes unique to alternative asset managers.

McMahon provides valuation advisory services to private equity, hedge funds and business development companies (BDCs). He has performed valuations of portfolios of illiquid equity interests held by private equity funds, while his hedge fund and BDC experience includes the analysis of private loans, including senior secured, subordinated and mezzanine debt, as well as convertible preferred and common equity, warrants and other derivatives. In addition, McMahon has valued special purpose entities utilized to provide levered equity returns on portfolios of private loans, corporate bonds and other asset classes.

McMahon's experience also includes the valuation of underlying portfolio companies for private equity funds, as well as management, carried interest and incentive fee entities of private equity and hedge funds in connection with tax planning, purchase price allocations, impairment testing and restructurings under IRC 1060, IFRS 3, ASC §805 and ASC §350.

Prior to joining Alvarez & Marsal, McMahon was a managing director in the Alternative Asset Advisory practice of Duff & Phelps. He has also held positions in the fields of corporate finance, investment advisory and corporate valuation consulting.

McMahon earned a master's degree in business administration from New York University's Leonard N. Stern School of Business and a bachelor's degree from the University of Richmond's E. Claiborne Robins School of Business. He is a chartered financial analyst (CFA) charter holder and member of the CFA Institute and New York Society of Security Analysts, as well as the American Society of Appraisers.



Rick Wallace
VP of Global Investment Valuations and Analytics
The Carlyle Group


Rick Wallace is vice president of global investment valuations and analytics at The Carlyle Group, a global alternative asset manager. In that capacity, he helps oversee the quarterly valuation of more than $150 billion in assets, including corporate private equity investments, real assets, structured products, credit-oriented investments, energy investments, hedge funds and funds of funds.

Prior to joining Carlyle in 2011, Wallace was SVP and valuation director at Allied Capital, a multi-billion dollar business development company, where he worked for six years in a similar capacity. Prior to that, he was a valuation consultant for six years with FTI Consulting and Arthur Anderson.

Wallace was a practicing attorney for a short period prior to beginning his career in valuation. He holds a B.A. in economics from Colby College and a J.D. from Wake Forest University School of Law.