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Keith Bergman, MBA–Managing Director

Keith Bergman is a treasury consultant with over 30 years’ experience working with top-tier financial institutions and multinational corporations. He is considered an expert in financial and derivative accounting as well as ASC 815, 820 and IFRS.

His treasury consulting experience covers business consulting, project management, and software development. He has worked for Pendo Systems, where he was Vice President of Product Management, and Wall Street Systems, where he held several Product & Solutions Management positions.

During his tenure at Wall Street Systems Mr. Bergman successfully designed and implemented their hedge accounting solution, pioneered the start-up of a Software-as-a-Service business –® – and headed up the Corporate Treasury business.

For the Ledgewood Advisory Group, he has advised clients on Cash ForecastingForeign Currency Exposure Management, and Hedge Accounting.  His clients include OmniSource, Haas Group International, Huawei Technologies, IBM Corporate Treasury, FiNCAD, Bottomline Technologies, and Bank of NY Mellon.

Mr. Bergman has spoken internationally on FAS 133 / IAS 39 and domestically on Hedge Fund and Derivative Operations.

He holds a Bachelor’s degree in Accounting, an MBA in Finance.

“We also appreciate your customer orientated approach throughout the project and great inter-personal skill to convey the knowledge of leading industrial practice. Considering the culture difference and the complex nature of our business, it’s not an easy task to work across different business teams to get alignment. It is your leadership and persistence which lead to the successful implementation of the Treasury Accounting team and the completion of accounting module in the most efficient way.”

– Project Manager, Huawei Technologies, Shenzhen, P.R. China

David L. O’Brien, CTP MBA

David O’Brien is one of our Treasury advisors with expertise in global cash management, cash forecasting, treasury technology, investments, debt, foreign exchange and working capital management. To date he has had engagements with multinational corporations in 8 countries.

Prior to becoming aTreasury Consultant, David was Assistant Treasurer at EDS Corp, a $22 billion IT Company with operations in 73 countries. While at EDS, his team was responsible for global cash management, foreign exchange and working capital. Before EDS, David had similar responsibilities as Director of Treasury at Fidelity Investments and Assistant Treasurer at Holiday Inns.

He is a frequent speaker at events sponsored by Regional and Country Treasury Associations, AFP, Association of Corporate Treasurers and EURO Finance. David is a past Chairman of the AFP and has served on several of the associations’ committees.

David holds a BA from University of Richmond, an MBA from Virginia Commonwealth University and the CTP certification from the AFP.

John G. Oros, CTP CCM MBA

John Oros is a senior Treasury advisor with over 30 years Treasury and Risk Management experience. His areas of expertise lie within Enterprise Risk Management, Treasury and Insurance. He has centralized credit and collection functions, establish benefits and 401K plans, and advised on risk management, treasury and insurance issues including processes to assess risk, enhance loss controlestablish and optimize treasury operations.

Prior to establishing his Treasury Consulting career, Mr. Oros held senior management positions as Treasurer and Risk Management and Compliance Officer for Enodis Corporation. During his tenure, he reduced working capital by $15m, instituted a loss control program resulting in a 50% reduction in losses over 6 year period and implemented a hedging program that contributed to a 3% reduction to cost of goods sold. He was Assistant Treasurer for Continental Can Company and Manager of Treasury Operations for Jersey Central Power & Light Company.

John has lectured on various risk management and treasury topics and was Senior Editor of the AFP publication – Treasurer’s Handbook of Financial Management. He is a past director at the Associate for Financial Professional (AFP) and past President, Chairman, and Director for the Treasury Management Association of Fairfield County, CT. He holds a MBA from Seton Hall University and is a Certified Treasury Professional by the AFP.

Linda E. Wright, MBA

Linda E. Wright is a senior treasury consultant with over 30 years of experience helping multinational corporations and non-profit organizations with treasury and risk management, strategic sourcing and M&A. She is an expert in cash forecasting, liquidity structuring, debt and capital management, and strategic planning including organization design and redesign.

As a consultant Linda has advised on insurance buying resulting in a 20% savings, optimized earnings through the creation of investment sweeping strategies, and blueprinted an audit process to insure pricing and contract compliance.

Prior to becoming a consultant, Linda was a SVP and Treasurer of FIREMAN’S FUND INSURANCE COMPANY an ALLIANZ company where she managed budgets, transformed shared services, reduced cost and complexity of legal structure, re-engineered the collection process, and centralized cash and investment operations. At Chevron Corporation, Linda held many different senior level positions including VP and Treasurer of the Retail Financial Services and Controller and Manager of Accounting at Chevron Shipping. Linda’s responsibilities ranged from cash management, cash forecasting, risk and internal controls to name a few.

Linda holds an MBA in Finance from the Haas School at the University of California at Berkeley with highest honors.

Matthew Salter, CFA

Matthew Salter is one of our advisors with almost 20 years of experience in Government and Central Banking as an Economist and Portfolio Manager.  His areas of expertise include capital markets, asset allocation, portfolio and risk management, foreign exchange, and international economics.

Matthew began his career working as an economic policy expert and advisor to Government Ministers at the UK Finance Ministry (HM Treasury). He specialized in macroeconomic policy advice on the countries of Central and Eastern Europe in their lead up to joining the European Union and spent a lot of time in the region working with Finance officials from the applicant countries. Subsequently, Matthew was seconded to the European Commission in Brussels and passed the rigorous concours (application process) required to work in the European institutions.

He has worked in Reserves Management at the Central Bank of Israel, headed the multi-billion dollar investment portfolio and spent two years serving as the Head of the Bank’s representative office in New York.

Since becoming a consultant he has helped numerous companies and investment firms in a number of areas connected to international investment management. He is also a Treasury training instructor and has developed and delivered courses at some of the world’s leading financial institutions.

Matthew holds an MSc degree in Economics and is a CFA charterholder.

James A. Fried, MBA

James A. Fried is a senior treasury advisor with expertise in global treasury operations involving cash management, working capital management, and financial and credit risk management. With over 20 years’ experience in treasury and consulting Jim has helped companies with mergers and acquisitions, credit and collections, strategic planning, budgeting, and improvement with working capital.

Prior to becoming a consultant, Mr. Fried has held several senior Treasury positions at Timex Group and Pirelli North America. While at Timex he served as Assistant Treasurer responsible for global Treasury and financial operations activities. At Pirelli he was the Regional Treasurer overseeing all Treasury and financial operations in North America.

James is a Certified Credit Executive and was the National Chairman for the National Association of Credit Management (NACM). He holds a MBA in International Business and Finance.

Milind C. Vagal, SCTP

Milind Vagal is our Treasury Advisor specialized in SAP ERP, with specialty in Finance, Treasury, Banking, Procurement, Logistics, Sales & Distribution, Supply Chain and Business Management Consulting areas, with 32 years of Business and IT experience with top tier multi-national corporations in USA and overseas. He oversees global ERP and SAP implementation engagements covering the Americas, EMEA and Asia Pacific.

Mr. Vagal has spearheaded a Global Treasury and Banking project across 65 countries that helped increase 85% visibility to its global cash investments and reduce Treasury operating costs by 60%. He is experienced with SEPA SCT and SDD, in Euro Zone and optimization of Electronic Bank Statement reconciliation creating 94% throughput through automation, setting an industry benchmark.

Milind is a SAP Certified Technology Professional with a BS in Electrical Engineering from India and a BBA in Finance and Business Management from Newport University CA and has held several senior management level positions in a multitude of industries around the globe.

I can always count on Milind to explain to me the business process in a simple, clear and logical manner and how to integrate technology into the business, which basically goes to show his strong business, technical and functional knowledge.”

VP of Finance – Eli Lilly and Company

Dr. Bruce G. Tabakman, MBA

Bruce G. Tabakman managed IBM Corporation’s Foreign Exchange Cash Flow hedge programs for 35 years. He was instrumental in the development of Average Rate instruments to mitigate currency volatility’s impact on Earnings per Share. Utilizing his background in Economics and his skill as an Econometrician, Bruce developed a market timing optimization algorithm for longer dated hedging, taking advantage of outlying movements in spot rates. He also initially developed, on spreadsheets, a Long Haul methodology for Hedge Accounting of FX instruments and then worked on developing this module with software vendors as the volume of deals grew. Generally considered the company’s Subject Matter Expert on all matters related to FX, Bruce served as Treasury’s spokesman to diverse groups including Accounting, Audit, Tax, Finance & Planning, IT, Business Development, and third party vendors.

More recently, Dr. Tabakman served as a Treasury Consultant to Huawei Technologies in Shenzhen, China, where he has advised on matters as diverse as Value at Risk methodologies, exposure identification, Multi-Currency Cash Pooling, and illiquid currency natural hedging.

Bruce holds both an MBA and Doctorate in Economics from the City University of New York.

Affectionately known as the IBM FX Goalkeeper, Bruce’s exceptional knowledge of both Economics and Accounting allowed him to FULLY understand the exposures producing financial volatility as a result of currency movements. His expertise in the use of derivative instruments and market timing to mitigate this volatility further led to his widespread reputation as a master in the FX arena. Moreover, Bruce’s uncanny ability to simplify and explain these complex exposures and hedges made him the perfect choice as the FX spokesman to Senior Management, Auditors, System Vendors, Business Units and many others.”

Former IBM FX Manager

Robert S. Hemstreet, CTP MBA

Robert “Bob” Hemstreet has an extensive background in Treasury and Information Technology. Bob spent 35 years working for Textron Inc., a global multi-industry manufacturing company. Bob served as the Assistant Treasurer of Global Treasury Operations at Textron’s centralized Treasury Department located in Providence, Rhode Island. During his time at Textron he was responsible for global cash management, foreign exchange, trade finance, internal controls, business continuity, and Treasury-related technology. He is known at Textron and throughout the industry as someone who embraces process improvement, cost reduction, controls, technology, and simplification of workflow. Some of Bob’s accomplishments at Textron include:

  • Structuring cash management in the U.S., Canada, U.K., Euro-Zone, and Australia
  • Implementing a nation-wide U.S. based lockbox system
  • Designing and implementing a new Treasury Workstation
  • Evaluating and restructuring the Merchant Service Provider process
  • Early adoption of foreign exchange trading portal and investment portal
  • Implementing a straight-through-processing foreign exchange system

Bob has a number of certifications including CTP, CDP, and Six Sigma Green Belt, and is a Steering Committee member of the International Corporate Treasury Group. Bob has a true passion for Treasury consulting and process improvement

After leaving Textron Bob has worked as an Independent Treasury Consultant. He has taken on various Treasury-related initiatives, including the selection and purchase of both a Treasury Workstation System and a Foreign Exchange System for a large Healthcare Company, restructuring of inter-company for a Technology Company, and restructuring of Treasury for an Automotive Supply Company.

Bob holds a BBA in Business Management from Eastern Michigan University, and an MBA in Finance from Eastern Michigan University.

Giuseppe M. Matassi, CFM

Giuseppe Matassi started his advisory practice in 2005, providing treasury consulting services to numerous corporate clients and banks. He has also developed and delivered several workshops and Public Seminars as well as In-House Trainings in the areas of International TreasuryRisk Management, Transaction Banking, Corporate Finance, Working Capital Management and Cash Flow Forecasting. He sits on the Boards of Directors of companies in both Sri Lanka and Belgium.
Prior to becoming a Treasury Consultant, Mr. Matassi was Treasurer EMEA and Managing Director of the Treasury Center at Johnson Controls. There he was responsible for providing treasury services to the EMEA region with $6 billion cash flow in 14 currencies generated by 120 entities. He also managed the “in-house bank” of the company, which provided transactional treasury support to JCI’s entities worldwide. While serving these duties, Mr. Matassi was the leader of a team of 11 Treasury Professionals responsible for strategy and management of liquidity, FX and commodity hedging, corporate finance, project finance, IT and accounting in support of the business in the region.

He is a Professor/Expert at ICHEC Enterprises, teaching a Module of “Structured Finance” as part of the DSIF (Diplôme Spécial Ingénierie Financière), and regularly speaks at events organized by Treasury Associations such as ATEL, ACT, AFP and Eurofinance.

Mr. Matassi served as Director of Strategy & Business Case Analysis of Ntrust, a Service Integration and Facility Management Company headquartered in Bahrain, from 2009 to 2010.

He holds a degree from the Universite Catholique de Louvain in Applied Economics, and furthered his education at The University of Chicago (GSB), Santa Clara University (CFM & NACM), and INSEAD (YMP).

“He had an in-depth understanding of the issues and came up with creative ideas for solutions.”

– Kinga Hetényi – Senior Associate, Baker & McKenzie

Barbara J. Kodors, CTP CGA

Barbara Kodors is a senior treasury advisor with expertise in global risk management, derivative accounting, and foreign exchange operations. With over 20 years’ experience as a Treasury and Accounting practitioner, Barbara has added value to companies with her successful implementation of hedging and risk mitigation strategies, implementation of policies and procedures, integration of workflow and process from acquired companies, and numerous system implementations. She has proven skills in change management and process management.

Prior to becoming a treasury consultant, Ms. Kodors has held several senior positions at Dell Inc. and EDS Corporation. While at Dell, she managed over $40 billion of Foreign Exchange in over 25 currencies and implemented hedge accounting to reduce the P&L volatility. At EDS she led their global foreign exchange operations minimizing both FX and interest rate risk. Barbara has been responsible for budgeting, strategic planning, and has helped companies improve their working capital.

Barbara is a Certified General Accountant in Canada and is a Certified Treasury Professional by the AFP. She holds a BBA in Business.