Group Svp, Tax Director & Chief Tax Officer
Greater Chicago Area
Built the corporate tax function through growth and acquisition, and managed the overall tax position of a complex organization’s U.S operations. Defined as a large case Federal taxpayer, and present in every state, the U.S. entity included foreign and domestic banks (e.g., LaSalle Bank), a large mortgage company, broker / dealers, and leasing companies. Oversaw income tax accounting, income and non-income tax compliance, transfer pricing, tax audits, appeals and litigation. Directed research and planning for inbound and some outbound foreign tax, federal, state and local tax issues. Reviewed tax sensitive investment proposals and transactions. Led a staff of 30 professionals, including 6 direct reports.§ Consistently delivered above planned results, booking more than $500M in net tax benefits over 5 years. § Led the tax review of all acquisitions and dispositions for the U.S. corporate structure.§ Systematically and accurately reported income tax expense and tax liabilities under FAS 109 (now ASC 740) in a well-controlled environment. Recognized by accounting firms for being ahead of the curve in FIN 48 reporting.§ Deferred federal and state tax return recognition of over $2B of mortgage income for years, then minimized overall state taxes when that income was recognized on the ultimate asset sale of the mortgage company.§ Led internal team to develop and implement a plan saving $15M per year of New York state tax.§ Oversaw creation of a disciplined transfer pricing process. Documented internal cross border pricing and cost allocation, leading to successful audit resolution.§ Successfully grew, and developed a diverse and capable staff. Established an ethical and value-added culture within the Corporate Tax Department where all understood and accepted its mission.§ Effectively split the tax function to support the 2007 sale of LaSalle Bank to Bank of America, and the subsequent sale of ABN AMRO to The Royal Bank of Scotland.
