Steven Schiffman

Steven Schiffman Email and Phone Number

Recently Retired CFO & Interim President, Devonshire Investments (Fidelity) | Extensive Board Experience
Steven Schiffman's Location
Fairfield, Connecticut, United States, United States
Steven Schiffman's Contact Details

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About Steven Schiffman

Global business leader with a significant background serving on boards across multiple industries. Seeking new director roles. Executive experience across a wide range of public and private companies ranging from entrepreneurial startups to industry leaders such as Fidelity, Starwood Hotels, Revlon, Burlington Northern, PepsiCo, and Ford. Most recently, served as both the Chief Financial Officer of Devonshire Investors (a private investment firm affiliated with Fidelity Investments), and the Interim President of Eight Roads Ventures (a multinational venture investment group affiliated with Fidelity Int’l). Background encompasses over 30 years of finance, treasury, and mergers & acquisitions expertise. Deep capital markets expertise includes taking companies public as well as privatizing formerly listed entities, raising billions of dollars in debt and equity markets around the world. Track record of business transformation, including financial turnarounds and strategic development in multiple sectors: financial services, hospitality, consumer, transportation, and heavy industry. As CFO of Devonshire, helped manage private equity and venture investments on behalf of Fidelity and its shareholders in biosciences, technology, telecommunications, natural resources, and real estate. Serving simultaneously as Interim President of Eight Roads, Steve oversaw one of the largest ventures platforms in the world, with teams investing in the U.S., Asia, Europe, and Israel. International background also includes 20 years of residence in Europe, Asia, and Africa. Extensive board experience includes serving as a director, chairing committees, and regularly reporting to boards. Served on, or headed, multiple Audit & Risk committees in multiple industries, including Energy (Discovery Natural Resources), Real Estate Development (Pembroke Real Estate), Hospitality (Seaport Hotel), Data Center Development & Management (Horizon Data Centers), and Telecom (Colt Technologies). Additionally, member of of the Board of Advisors of Int’l Business School at Brandeis University.

Steven Schiffman's Current Company Details

Recently Retired CFO & Interim President, Devonshire Investments (Fidelity) | Extensive Board Experience
Steven Schiffman Work Experience Details
  • Fidelity Investments
    Interim President, Eight Roads Ventures
    Fidelity Investments Dec 2019 - Feb 2022
    Simultaneously with CFO role of Devonshire Investments, requested by Fidelity Chairperson and CEO to lead/restructure Eight Roads, a captive global venture capital investment firm with net $3B in active funds in China, Japan, India and Europe after spin-out from Fidelity Int’l.• Changed governance processes to enhance transparency and communications; right-sized the organization. Solidified the company’s venture capital focus, executing the divestiture of five operating businesses. Restructured company’s capital base, improving liquidity from ~$100M to ~$400M, optimizing for tax efficiency. Oversaw development of the company’s first multi-year strategic plan.
  • Fidelity Investments
    Chief Financial Officer -- Devonshire Investors
    Fidelity Investments Jun 2017 - Feb 2022
    CFO for the the private investment firm affiliated with FMR LLC, the parent company of Fidelity Investments with about $15B of assets under management. Key role in vetting and overseeing private equity and venture investments on behalf of Fidelity and its shareholders in technology, telecommunications, natural resources and real estate, operating in markets across the United States, Europe and Australasia. Director of four operating companies, member of eight investment committees, chair of multiple audit/risk committees, and coordinated all board meetings and shareholder communications. Formulated company’s first strategy, mission statement, and key performance indicators. Worked with the President to identify areas for capital deployment and created new venture funds. Mentored the CFOs of portfolio operating companies. Arranged capital, including external debt financing, for growth initiatives across the platform. Supported consistent top-quartile returns: reduced operating expenses ~20% with 35% increase in AUM.
  • Fidelity Investments
    Treasurer
    Fidelity Investments Apr 2009 - Jun 2017
    Responsible for all aspects of the company’s balance sheet including capital planning and financing activities, cash management, interest rate/FX/commodity risk management, banking relationships, and insurance. Restored corporate liquidity from the depths of the financial crisis through strict cash management and the first issuance of long-term bonds in over ten years and developed an investment strategy to enhance returns. Reviewed capital structure and ROIC of business units and arranged internal financing as needed. Chaired the company’s 401(k) and retirement benefits committees. Achieved first company ratings upgrade. Collaborated on the spinout of Devonshire Investors and Fidelity Canada.
  • Starwood Hotels & Resorts
    Svp, Treasury & Corp. Development
    Starwood Hotels & Resorts Jun 2006 - Jan 2009
    Responsible for treasury, real estate finance, and M&A. Led team evaluating major potential acquisitions and orchestrated the sale of non-core assets.
  • Revlon
    Svp, Finance & Treasury
    Revlon Aug 2003 - Apr 2006
    Recruited by new management team to orchestrate financial turnaround. Led all aspects of treasury, M&A, and capital planning/forecasting.
  • G-Log
    Svp & Chief Financial Officer
    G-Log May 2001 - Jul 2003
    As company’s first CFO, led all aspects of finance, MIS, HR, and administration. Established the company's first operations in the Asia-Pacific region. Positioned Company for eventual sale to Oracle.
  • Rsl Communications
    Vp & Chief Financial Officer
    Rsl Communications Apr 2000 - Mar 2001
    Joined heavily leveraged company during major telecommunications industry downturn. Responsible for all aspects of the finance function including controllership and financial reporting, planning, budgeting, treasury, tax, and investor relations.
  • Pepsico
    Vp, International Finance & Tax
    Pepsico Apr 1993 - Apr 1999
    Managed corporate finance and tax functions for all operating divisions throughout Asia-Pacific and Eastern Europe. Started PepsiCo's first corporate finance operation outside the United States and built a multinational team.
  • Burlington Northern, Inc.
    Asst. Treasurer
    Burlington Northern, Inc. Jun 1990 - Apr 1993
    Responsible for capital structure analysis, execution of all financings, and banking and rating agency relationships.
  • Ford Motor Company
    Treasury Specialist
    Ford Motor Company Jun 1986 - Jun 1990
    Worked on acquisitions of Jaguar, Saab and The Associates, and assisted in related financings.

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Steven Schiffman attended The Wharton School, Georgetown University, Brandeis University.

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