Bio

David is a founding member of American Working Capital working in AWC's Chicago office. Prior to co-founding AWC, he was a Managing Director at Duff & Phelps, LLC, and a Director at Valuemetrics Advisors, Inc. David has more than 20 years of financial advisory experience and has managed a wide variety of corporate finance transactions and advisory engagements for both public and private company owners, Boards of Directors and Trustees. David has designed transactions ranging from acquisitions of companies and divisions by employee managers through the use of Employee Stock Ownership Plans (ESOPs) to advising family shareholders on going private. David has developed new methods for quantifying the cash flow and valuation impact of repurchase liability for ESOP companies, and has advised companies on how to proactively adjust their operations and capital structures to best meet their repurchase obligations. He has presented these new methods through seminars at the ESOP Association's Annual Repurchase Liability Conference, at various Chapter seminars, and at a variety of National Center for Employee Ownership (NCEO) seminars and workshops. David has written many articles regarding ESOPs on topics ranging from quantifying the ESOP repurchase liability to measuring the benefit of diversification. He co-authored a paper on how to value S-Corporation ESOPs that has been adopted by the ESOP Associations Valuation Committee. He received his BA in Economics from Princeton University, Beta Gamma Sigma Honor Society, and his MBA with Honors in Finance from University of Chicago Graduate School of Business. David is an active member and speaker on ESOP repurchase liability issues with both the ESOP Association and the National Center for Employee Ownership. He is a past president of the Business Valuation Association. He was on the Board of Directors of startup company from its inception to its sale for more than $100 million six years later.