Deal Maker of the Year Awards 2013 WINNER - MARCIA ELIZABETH CHRISTIAN FAVALE
DEAL: BTA Bank $11.1bn Restructuring NAME: Marcia Elizabeth Christian Favale COMPANY: M.Favale-Tarter, LLC POSITION: CEO & Founder EMAIL:
mfavale-tarter@mfavale-tarter.net WEBSITE:
www.mfavale-tarter.net
BIO
Ms Favale has two decades of finance experience including investment banking, portfolio management, capital markets, company and debt restructuring, business development and privatizations. In 2009 she started her company (M.Favale- Tarter, LLC), hired to act as an Independent Restructuring Advisor to BTA Bank, Alliance bank, and Astana Finance and to advise the sovereign wealth fund- Samruk Kazyna- on Temir Bank. Ms Favale is credited with devising the ‘Burden- Sharing’ bank restructuring strategy and in its successful implementation. The Kazakh bank restructurings are now viewed as international benchmarks, with BTA Bank being the largest and first ever successful bail-in restructuring. In addition to leading the negotiations with the Steering Committees of Creditors, representing all debt classes from trade finance, commercial loans and hedge fund exposures, Ms Favale led the internal turn-around and restructuring strategy, helping build and implement the business strategy of each bank.
In 2009, Ms Favale was awarded the role of Senior Advisor to the Prime Minister of Kazakhstan (sovereign advisory) for matters related to the financial sector including debt restructuring, privatization and mergers & acquisitions. In this role, Ms Favale interacts with international and domestic government officials, government related entities, investment banks and the private sector on behalf of Kazakhstan. Ms Favale represents other clients including an iron ore asset in Brazil and advises Rothschild and Lazard on specific transactions and other investment companies on strategic investments. Ms Favale devised and implemented (2010- 2011) the ‘People’s IPO program’, a privatization program for which she created, on behalf of the Prime Minister of Kazakhstan. She advised BTA Bank on its successful 2nd restructuring (2012). Ms Favale lead the committee mandated to implement and execute the People’s IPO.
Before creating her company Ms Favale was a portfolio manager and senior member of the Advent Capital asset manager investment team and a senior portfolio manager at the hedge fund, Brevan Howard. At UBS, Ms Favale was a Managing Director, Head of CEEMEA and LATAM corporate bond research and a senior member of UBS’s global credit fixed-income research group. Her leadership responsibilities as a senior manager at UBS included being on UBS’s Emerging Market Credit Committee and the Emerging Market Steering Committee. Ms Favale is known for her investment expertise. In 2006 she was ranked The Outstanding Analyst of the Year by Institutional Investor Magazine for Emerging Markets Corporates. Ms Favale started her career in investment banking at Banker’s Trust as an analyst on the M&A team (Japan Securities) and later joined the Latin America
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merchant banking effort. At Merrill Lynch, Ms. Favale was part of the High Yield division.
Ms Favale’s unique finance experience allows her to understand the full finance value-chain. As part of the value-added service Ms Favale (1) creates custom solutions, challenging established frameworks, whilst adhering to Best Market Practices and high corporate governance standards, and (2) devises the execution strategy, controlling the process for the benefit of her clients. As a result of devising the strategy and its implementation, M.Favale-Tarter, LLC controls the entire process and value-chain. At times, to enhance execution, Ms Favale partners with leading global firms (Investment banks, law firms, accounting firms, and media companies) that act as sub-contractors and report to M.Favale-Tarter, LLC that acts on behalf of the client. To facilitate execution success, Ms Favale crafts the rhetoric and image of her client, thus engaging a variety of audiences including the senior government and private sectors as well as domestic and international audiences.
In 2010, Euromoney Magazine ranked M.Favale-Tarter, LLC alongside UBS and Lazard with the CEE Deal of the Year- BTA Bank restructuring. Ms Favale has received numerous awards including the Independent Restructuring 2013 Global Award, the Independent Restructuring ACQ 2013 Award and recognized alongside Lazard, Houlihan Lokey and White & Case by Finance Monthly Magazine and Lawyer Monthly Magazine for the 2nd restructuring of BTA Bank.
Ms. Favale is a member of the Advisory Board for Environmental Technology Solutions, LLC (ETS) (www.
etspartners.com) and a Board Member of the Worldwide Orphans Foundation (WWO) (
www.wwo.org). Ms. Favale is a graduate of New York University, where she earned a Bachelor of Arts in Political Science (cum laude) and University of Oxford (Said Business School) where she earned a MBA and a Post-Graduate Diploma in Financial Strategy. She is a member of St Cross and Merton College, Oxford.
Awards • Finance Monthly Magazine and Lawyer Monthly Magazine
• Independent Restructuring Advisor Global Awards 2013 • Independent Restructuring Advisor- Asia- ACQ Awards 2013
• Advisor on the CEE Deal of the Year-BTA Bank restructuring (February 2010); Euromoney Magazine
• The Outstanding Analyst of the Year by Institutional Investor Magazine for Emerging Markets Corporates (April 2006)
Recent speaking engagements • Harvard,
November 2013
• Guest Speak for the Astana Forum 22-24 May 2013- On the role of Women in the Economy.
• Ms. Favale spoke at the Astana Economic Forum 22 -24 May, 2012
on various topics including, privatization,
bank restructuring, investment opportunities, and the role of women in business.
• Harvard, Kennedy School: guest lecturer April 2013 on the the confluence of policy and market practice
• Ms. Favale has been a speaker at the Paris Club (June 2010) and presented the Kazakhstan Bank restructuring to the Bank of England (BOE) and to the World Bank on 18 January 2011.
• Ms. Favale was a Distinguished Speaker at University of Oxford (October 2010), where she discussed in detail the restructuring framework and restructuring process. She presented the burden-sharing framework at Georgetown University (October 2010), at the Harvard Club New York (November 2010 for the US-KZ Investment Forum). At the Kazakhstan-London Forum (October 2011) and at the Kazakhstan-US Forum (December 2011), Ms Favale presented on the People’s IPO.
Recent Publications • Breaking the Mold- an article on the benchmark Kazakh burden-sharing bank restructuring published in the Paris Club 2010 Annual Report
• Launch of the People’s IPO Is Good News-an article on the innovative Kazakh privatization programme, devised by Ms Favale’s whilst at Oxford, which is currently being implemented according to the framework. This article was published in the Astana Times Newspaper October 2011
• Grasp The Chance: The Business Year magazine (http://
www.thebusinessyear.com/publication/article/6/1164/ kazakhstan-2012/grasp-the-chance)
• Carried in Our Hearts, Penguin, contributing author
Recent TV Interviews • TV Bloomberg (
http://www.bloomberg.com/ video/ 78355200/) and most recently on the Kazakh national TV
http://www.youtube.com/watch?v=hXqaYwTF6xA& feature=youtube_gdata_player where she discussed the People’s IPO
• CNBC World Report Special on Kazakhstan, where she outlined the initially controversial, but successful Kazakh bank restructuring (March 2011)
Business School – Finance Conference 3
USA
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