Dr Osman Ghani, ACA, CFA, CAIA

Transcription

1 Name Osman Ghani Nationality: British Permanent Address Apartment 321, 90 Navigation Street, Birmingham, B5 4AF Telephone Education: Warwick Business School Warwick, UK PhD in Finance (No Corrections) Thesis Title: Essays on asymmetric information Thesis Research: Equity: Cost of equity. Debt: Loan design, covenant design, loan renegotiations, and cost of debt. Area of specialisation: Emerging markets, asset pricing, asset liquidity, adverse selection, moral hazard, capital structure, fixed income markets, equity markets, security design, information asymmetries, and uncertainty avoidance. Full Scholarship: ESRC from (Fees and stipend) and WBS for (Fees and stipend). Presentations: BAFA Doctoral Colloquium (Aston Business School), WOXBRIDGE conference 2012 (Warwick Business School), 12 th Workshop on Accounting and Economic Theory 2016 (Tilberg University) Warwick Business School Warwick, UK MPhil in Finance PhD in Finance Courses undertaken: Theories of finance (Asset pricing, corporate finance, and derivatives), Frontiers of finance (Asset pricing, corporate finance, corporate governance, derivatives, econometrics and behavioural finance), Advance quantitative methods (Empirical finance methods). Full Scholarship: ESRC (Fees and stipend) London School of Economics London, UK M.Sc Accounting and Finance (with specialisation in finance) Obtained: Distinction. Relevant Courses: Corporate finance and asset markets, corporate financial reporting, international finance, fixed income markets, applied corporate finance, real estate finance. June 2006 CASS Business School, City University London, UK Executive Education: M&A and LBO course Course Outline: Overview of structuring, modelling, financing and valuation of Mergers and Acquisitions, Leverage Buy-outs and private placements London School of Economics London, UK B.Sc (Hons): Accounting and Finance. Obtained: Upper second Class Honors. Relevant Courses: Principles of finance, corporate finance and financial markets, elements of accounting, introductory quantitative methods, macroeconomics principles, managerial accounting, financial accounting, auditing and accountability. 1

2 Qualifications: 2004-Present: ACA, ICAEW. Passed all ACA exams in November 2006 with first time passes. Member since October ICAEW membership No: Present: CFA, passed level 3 in June 2008 with first time passes. Regular member of CFA institute and the CFA UK society. Member since October Membership No: Present: CAIA, CAIA Institute. Passed level 2 in September 2009 with first time passes. Member since October Membership No: 3728 Publications: Chapters (Written): Co-author with S H Bryan and S B Lilien; Financial Instruments ; CFA Level 2 course book (Forthcoming) Chapters (Edited): Chapter : Inventories by M A Broihahn; International Financial Statement Analysis, 2 nd Edition ; by Robinson et al (2015) Chapter: Valuation and Analysis: Bonds with Embedded Options, and The Term Structure and Interest Rate Dynamics, Fixed Income Analysis, CFA Institute Investment Series, by J E Pinto et al (2015) Chapter: Economic growth and the investment decision Economics for Investment Decision Makers: Micro, Macro, and International Economic. CFA Institute Investment Series.; by Piros et al (2013) Chapter : Inventories by M A Broihahn; International Financial Statement Analysis, 2 nd Edition ; by Robinson et al (2012) Articles (Written): Author: Boosting renewable energy. March 2013, CFA Magazine. Author: Moral hazard and LIBOR. September 2012, CFA Magazine. Author: European debt crises: A moral hazard story. May 2012, CFA Magazine. Author: Improving transparency in the private equity market. May 2011, CFA Magazine. Work Experience: October Present: PricewaterhouseCoopers LLP Birmingham, UK Position: Manager, Transaction Services - Advisory Work primarily on the working capital, net debt and equity value analysis of mergers and acquisitions. Provide advice to vendors or buyers for the deal negotiations and potential value drivers that should be priced. Responsible for overseeing projects from the Wales and West of England teams. Work on numerous sectors and types of clients, but have a focus on private equity and infrastructure fund clients, and specialise in EUMI (Energy, Utilities, Mining, and Infrastructure), Real Estate, and TMT (Technology, Media, and Telecoms) sectors. June Present: CAIA Association Amherst, USA Position: Consultant. Advisory role to the CAIA Association. My role primarily involves reviewing and editing new chapters that are being considered for inclusion in the course. I have predominately worked on the Structured products, Private Equity, Hedge Funds and Credit Risk sections of the course. Exam setter for the Level 1 and Level 2 course primarily in Ethics, Private Equity, Hedge Funds and Credit products. 2

3 October September 2015: OXERA Consulting LLP Oxford, UK Position: Consultant, Corporate Finance Team Worked on Gatwick s second runway plan. Tasks primarily centred on examining and quantifying major risks involved in the project, incorporating the risks into Gatwick s financial model, examining the impact on Gatwick s capital structure, and determining the average price needed for Gatwick to be compensated for the additional risks. Worked on a potential merger in the Water Industry. Primarily responsible for the financial model that takes into account the various revenue and costs streams involved, and the potential regulatory changes that may occur over the next 30 years. Worked on Severn Trent s water access pricing model. The Access pricing model is a means whereby the company can determine the appropriate price at which it would allow competitors to use its infrastructure network. Worked on several profitability (National Air Traffic Services, BT), and cost of capital estimation models (BT, New Zealand Telecommunications). October September 2014: Warwick Business School Coventry, UK Position: Teaching Assistant/ Lecturer IB Introduction to Financial Accounting 1 st year Bsc Accounting and Finance. (Seminar Tutor) IB 9Y7 - Foundations of Corporate Finance Msc Economics and Finance/Finance. (Teaching assistant) IB Finance 2: Corporate Finance Bsc Accounting and Finance (2 nd / 3 rd year course). (Seminar Tutor) IB Foundations of Accounting 2 st year Bsc Accounting and Finance. (Seminar Tutor) IB 92C-Corporate Finance. Masters in Accounting and Finance/ Masters in Management. (Seminar Tutor) IB 92C0-Corporate Finance Masters in Management/ Masters in Business. (Seminar Tutor) Accounting and Finance Workshop Msc Marketing and strategy (Lecturer) CIPD qualification Financial reporting course. MA Industrial relations and managing human resources. (Lecturer). Entrepreneurial Finance Warwick MBA, Teaching assistant to Prof Cockrum (UCLA- Andersen). Mentor Support on Masters in Finance / Finance and Economics / Accounting and Finance student dissertations. Office Hours 2 office hours every week during term for the taught Undergraduate and Masters courses above. September Present: CFA Institute Charlottesville, USA Position: Consultant. Advisory role to the CFA institute. My role primarily involves reviewing and editing new chapters that are being considered for inclusion in the course. I have predominately worked on the Financial reporting segment of the level 1 and 2 courses. However, I have also worked on chapters related to Fixed income, Economics, Alternative investments, Corporate Finance and Derivatives. Member of CFA Education Advisory Committee and tasks include assisting the CFA institute in developing and maintaining the CFA Curriculum. 3

4 Dr Osman Ghani, ACA, CFA, CAIA Member of the CFA FRA working group and Task force, responsible for deciding on course amendments and determining the future content of the FRA element for the CFA course. Topic Area Expert on Alternative Investments, Economics, Corporate Finance, Fixed Income, Equities and Derivatives. Responsible for advising the institute on new readings and practice problems and on CFA Institute Investment Series books. June June 2012: Warwick Business School Coventry, UK Position: Research Assistant, Finance Department Research Assistant to Doctor Fidrmuc. Main tasks include assisting the Professor in obtaining information concerning private equity and corporate M&A deals for the period Research included determining whether there was information leakage prior to the deal being announced to the market. Research Assistant to Professor Bartram. Main tasks include assisting the Professor in obtaining information concerning differences in financial reporting statements for companies with defined benefit plans. The aim of the research is to show that differences in financial reporting can influence the debt level taken by companies. Paper has been resubmitted to Journal of Finance. February August 2010 London School of Economics London, UK Position: Research Assistant, Accounting Department. Research Assistant to Doctor Goh. Main tasks include assisting the Professor in obtaining information concerning companies for her upcoming research paper. Work involved analysing pension schemes in FTSE 350 companies for the period and to determine what factors influence Board retention. October December 2008 Deloitte LLP London, UK Position: Assistant Manager, Private Equity Transaction services (Corporate Finance department) Sectors covered: Manufacturing, Pharmaceuticals, Defense, Commodities and Services Worked on Blackstone s 550m bid for Safety-Kleen Group bid. Primarily worked on the working capital, revenue, capex, normalizations and cost elements of the financial due diligence report. Worked on a number of smaller Pharma deals including asset acquisitions, refinancing and vendor due diligence. Assisted on numerous marketing pitches and valuation projects over a range of industries including pharma, manufacturing, defense, media, property management and services. Secondments have included a 6-week secondment to the Audit department to work on the Babcock & Brown s (an infrastructure fund) year-end audit. Worked on a restructuring project on a Real estate and Construction company. Tasks included working on the Cash flow side of the company, working on the feasibility of the property portfolio and working on the reorganization strategy of the company. Worked on a secondment to the forensics department for three month to work on a project in Munich, Germany. An investigation into allegations of public bribery and corruption at a European communications and technology conglomerate. Retained by external US counsel, our work focused on a number of high-risk country operations across a range of segments of the business. As part of our work we liaised with both the U.S. Department of Justice and the Securities and Exchange Commission, as well as a number of local European country prosecutors. 4

5 September 2004 October 2007 Smith & Williamson London, UK Position: Trainee Chartered Accountant Responsibilities: Supervision of audit teams of up to 3 staff Planned and implemented Group audits, including consolidation of results from other audit teams Understanding and documenting IT system controls Valuing of client assets including fixed income and equity portfolios, assets under construction and intellectual property. Performed analytical review of P & L's including review of both management accounts and board minutes Extensive interaction with Partners, Managers and clients. Preparation of cash flows, and financial statements Attending client meetings and assisting Partner/Manager during the meetings. Developing financial models to analyze data as part of the audit process and analyzed industry trends for use on audit assignments Non-audit Experience: Risk Management: Completed a three-month secondment in the Investments department of Smith & Williamson. Reviewed the counterparty risk facing the investments department Analyzed the financial data of any new or recommended counterparties Performed a review of trades for the year and analyze them according to counterparty, trade type and currency. Due diligence work: (Project Upstream) Work involved analyzing the merits of an acquisition by the client. Obtained verification of current financial position of the target company Conducted scenario analysis to model various potential outcomes. Internships: July 2004 August 2004 Islamic Investment Bank Position: Investment Banking Intern (Infrastructure) Karachi, Pakistan May 2004 July 2004 A.F.Ferguson (PwC Pakistan) Karachi, Pakistan Position: Audit Intern Jan 2004 Feb 2004 Habib Allied Bank London, UK Position: Intern, Credit Risk Sep 2003 Nov 2003 University of Guadalajara Guadalajara, Mexico Position: Teaching Assistant June 2002 Aug 2002 Standard Chartered Bank Karachi, Pakistan Position: Intern, Retail Banking Extra- Curricular Activities: Software: Proficiency in Microsoft Office (Excel, Word, PowerPoint), Stata 12 and Stata 13. Intermediate understanding of Eviews, SPSS, SAS and Matlab. 5

6 Dr Osman Ghani, ACA, CFA, CAIA Databases: Merger market, Debt wire, One source, Thomson Banker, DataStream, World scope, Compustat, CRSP, Edgar, Reuters-Dealscan, Factiva, Bloomberg. Community service: Mentor: Smith & Williamson, Warwick Business School. Mentor: LSE-BP Mentor Programme (2003). Mentor to sixth-form students in Old Kent Road. Events organiser at Goodenough College, raising nearly 2,000 for the Great Ormond Street Hospital, London (2009/2010). Judge: CFA Institute Research Challenge, Semi Finals. London 2013 Interests/Honours: Highest mark worldwide for A level Sociology from the University of Cambridge examinations board. Playing Cricket and Squash. Travelling and hiking. 6