James Petitto Email & Phone Number

Owner, creator and driving force behind start-up longboard skateboard company, Deviate Board Co. Deviate is a different kind of skateboard company. Inspired by the surf and built for the pavement, Deviate longboards are perfect for cruising around, styling and just having fun. Each board is handmade melding together premium furniture grade hardwood and a sense of craftmanship with a focus on highlighting the inherent beauty and uniqueness of each species of wood. www.deviateboardco.com

New York, Ny, Us

As Managing Director, I oversaw the corporate development team and influenced key stakeholders across the organization to deliver on corporate strategy through M&A. I collaborated cross-functionally to devise strategic M&A recommendations and identify new opportunities. I directed sell-side and buy-side transactions across all deal dimensions including team management, process design, due diligence, transaction structuring/terms, valuation, negotiation, approval, and successful completion. • Generated $225M in proceeds available for redeployment by devising strategy and leading sale to successfully exit $160M legacy commercial aircraft investment portfolio in tax efficient manner that maximized value.• Initiated sale of Retail Mutual Fund business with $7.4B AUM that realized proceeds in excess of multi-year EBITDA contribution, surpassed market precedents, and enabled company to exit business entirely while maximizing value.• Established key capabilities and operational readiness within Legacy portfolio by collaboratively standing up Bermuda-based composite run-off reinsurer for legacy reserves and executing ≈$36B in internal run-off reinsurance transactions.• Exited 96.5% of Legacy Life/Annuity & General Insurance reserves by renegotiating $36B in internal run-off reinsurance and closing multi-stage sale of newly formed reinsurance subsidiary generating $2.6B in proceeds.

New York, Ny, Us

Within the Asset Management and Investments divisions, I advanced corporate strategy, operational efficiency, and fiscal health as a senior member of the investments team. I directed accounting, reporting, and financial planning for the investment portfolio, derivative portfolio, asset management companies, and legacy businesses. I coached 300 associates globally while implementing processes to raise transparency and engagement, drive continuous improvements, and achieve KPIs. I guided strategic planning by evaluating financial performance against targets and communicating findings to senior management. • Directed divestment of $500M+ in unfunded investment commitments and $1B+ in investments during financial crisis by successfully negotiating interim financing and repayment terms with Federal Reserve Bank of NY.• Provided operational and financial leadership to launch Residential Mortgage Loan investment platform from ground up that grew to over $5B within three years.• Created transparency of legacy financial services footprint to internal/external stakeholders by creating framework to support wind down of footprint and redeployment of capital.• Innovated and installed stress testing processes and controls for legacy businesses and investment portfolios that improved compliance, increased transparency into allocated/required capital, and led to redeployment of trapped capital.• Spearheaded consolidation initiatives and established transparent reporting framework for asset management function that replaced 30+ year legacy system as standardized global process. • Strengthened evaluation of total return and trade off across asset classes, ownership of operating results, and transparency into cost drivers.

New York, Ny, Us

Starting at AIG, I shaped corporate accounting policy by conducting technical research on stock compensation, consolidation, valuation and other accounting issues. I evaluated and formulated proper accounting treatment to successfully execute complex transactions. I drafted comments for submission to industry groups related to significant accounting issues impacting corporate financial metrics. I analyzed the impact of newly issued accounting/exposure standards and discussion papers and developed processes to mitigate adverse effects.• Drove continuous improvements in growing asset management business by building five-person global team that enhanced insights into investment objectives, rules impacting portfolios, and key drivers.• Designed streamlined structures for multiple business transaction types that enhanced cooperation between asset management and insurance businesses, instituted best practices to achieve investment goals, and increased tax efficiency. • Ideated and facilitated launch of PE and hedge fund structures that maximized operational efficiency of business transactions, bolstered fiscal health, and fueled ROI growth.• Collaborated with business and corporate finance teams to remediate legacy internal control and accounting of complex investment structures by updating historical practice, educating key stakeholders, and driving collaboration.• Spearheaded development and installation of web-based logical solution that automated process to determine correct accounting treatment for globally dispersed special purpose entities (SPEs) and resolved material weakness.

New York, Ny, Us

During my tenure at KPMG, I coordinated US operations for global audits of large multinational corporations by overseeing audit instruction and reporting package preparation, budgeting, profitability tracking, and billing. I also analyzed the application of GAAP on complex structured transactions.