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Eran Grumberg, CFA

1536 Kater Street telephone: (610) 517-8195


Philadelphia, PA 19146 e-mail:
OBJECTIVE
To obtain a senior position in investment management and research, leveraging ex
tensive asset management, research, consulting and industry experience.
EXECUTIVE SUMMARY
Senior Investment Research Analyst with over twenty years experience in investme
nt management, research and consulting. Nine years experience as a high yield cr
edit analyst with Evergreen Investments and Deutsche Asset Management. Broad ran
ge of sector expertise including technology, aerospace/ defense, food/beverage/t
obacco, services, and commercial mortgage backed securities (CMBS). Key contribu
tor to investment fund that achieved top quartile and top decile performance at
both Evergreen Investments and Deutsche Bank. Formerly Vice President and Practi
ce Leader responsible for consulting and research in META Group's (now part of G
artner Group) enterprise software consulting practice. Extensive prior technolog
y research and consulting experience.
EXPERIENCE
Wells Fargo/Wachovia - Evergreen Investments,
Vice President and Director, Senior Research Analyst, Global High Yield
2007 - 2010
Senior credit research analyst responsible for approximately 20% of $3 billion h
igh yield portfolio, with responsibility for multiple sectors, including technol
ogy, aerospace/defense, food/beverage/tobacco, services, and commercial mortgage
backed securities (CMBS). The high yield portfolio achieved top quartile and to
p decile (per Lipper rankings) performance for year-to-date, one-year, and life
of fund (since 2007) reporting periods, including 2008-2009 downturn and ensuing
recovery. Individually, I exceeded the relevant benchmark (JP Morgan High Yield
Index) and peer group for coverage responsibility over the life of the fund. S
pecific responsibilities included industry research and analysis, security selec
tion and valuation, qualitative and quantitative bottom-up analysis for all comp
anies within coverage responsibility, financial model development, capital alloc
ation and risk budgeting, relative value, trade recommendations, and hands-on tr
ading for the CMBS portfolio. Developed proprietary CMBS valuation model and to
ol. Experience in up and down markets, through all aspects of the credit cycle,
all levels within the capital structure including secured bank loans, senior and
subordinated notes, preferred and convertible securities, equity, warrants and
derivatives, including credit default swaps. Involved in bankruptcy workouts, ex
changes, reverse inquiry, long and short positions, and hedged positions and bas
is trading.
Additionally, as head of high yield technology, I was also responsible for desig
n, implementation and management of proprietary front office technology systems,
including portfolio management, trading, analytics, relative value and performa
nce attribution, as well as integration with back office systems.
Deutsche Asset Management, Director, Senior Research Analyst, High Yield
2002 - 2006
Senior analyst with increasing coverage responsibilities, following technology,
aerospace/defense and services sectors. Significantly exceeded relevant benchmar
k (Credit Suisse High Yield Index) for coverage responsibility each year as part
of a $4.5 Billion fund that consistently outperformed its benchmark and achieve
d top decile performance versus its peer group. Specific responsibilities inclu
ded industry research and analysis, security selection and valuation, qualitativ
e and quantitative bottom-up analysis for all companies within coverage responsi
bility, financial model development, capital and risk budgeting and allocation,
and trade recommendations. As part of an actively managed high yield fund with s
ignificant discretion, evaluated all securities within corporate capital structu
re, including fixed and floating rate notes, bank debt and bridge loans, secured
and unsecured debt, cash pay and non cash pay (PIK, zero coupon), CDS, converti
bles, preferred securities, and equity. Additionally, head of high yield technol
ogy, responsible for design, implementation and management of proprietary front
office technology systems, including portfolio management, trading, analytics, r
elative value analysis and performance attribution, as well as integration with
back office systems.
META Group (now Gartner Group), Vice President and Practice Leader
1997 - 2001
Head of META Group's enterprise software consulting practice with overall profit
-and-loss responsibility. Started and grew the business to $2.5 million in sale
s while achieving a 22% operating profit. Provided research and advisory servic
es to companies seeking strategic technology solutions for business software, in
cluding enterprise resource planning, e-commerce, customer relationship manageme
nt, and supply chain management systems. Served as engagement manager, account
manager and delivery assurance manager for numerous research and consulting enga
gements. Conducted primary and secondary research on leading enterprise software
companies. Co-authored a widely referenced META Group research study examining
return on investment and total cost of ownership for ERP implementations in Glob
al 2000 corporations. Frequent speaker on enterprise software technology and str
ategy.
CSC Consulting & Systems Integration, Management Consultant
1995 - 1997
Management Consultant and System Architect with a broad range of management, pla
nning and architectural responsibilities associated with major enterprise softwa
re initiatives for numerous clients, including Fortune 500 and start-ups. Respon
sibilities included chief strategist, chief technologist, systems architect, int
egration architect and development manager. Representative project engagements i
ncluded chief strategist for CSC's internal SAP Human Resources and Payroll impl
ementation; SAP integration and development manager for a major paper and forest
products company; chief strategist responsible for technology architecture for
venture capital startups, including an internet-based health claims administrato
r and an internet and telecom service provider; system architect for major aeros
pace/defense company's product engineering environment, and systems architect fo
r a major steel company's "best-of-breed" ERP systems implementation.
EG Consulting, Principal
1989 - 1994
As an independent consultant, played an instrumental role in assisting large ent
erprises to architect, design, and implement major software solutions. Client co
nsulting engagements included The World Bank (1993 - 1995), Grumman Data Systems
(1990 - 1993), and Computer Sciences Corporation (1989 - 1990). Consulting effo
rts included:
* System Architect responsible for the development and implementation of an Fin
ancial Messaging System used to facilitate automated information exchange for se
veral trading systems (World Bank);
* Chief Analyst responsible for re-engineering Planning, Programming and Budget
ing System for the US Air Force; System Architect responsible for implementation
of message generation and transmission software for a Command, Control, and Com
munications System developed for the US Marine Corps (Grumman)
* Software Engineer responsible for implementation of a custom messaging and da
tabase management system for an air defense system for the US Air Force (CSC).
Sonalysts, Inc., Software Engineer
1986 - 1989
Software Engineer responsible for implementation of the Military Warfare Effecti
veness simulation model for the US Navy used to evaluate platform effectiveness
in wartime scenarios. Developed logistics planning model used to schedule fuel
and cargo delivery to and from battle groups in at sea operations. Developed oth
er tools to evaluate aircraft communications effectiveness and determine optimal
spare parts levels.
ACADEMIC BACKGROUND, CERTIFICATIONS AND AFFILIATIONS
CFA Charterholder - 2001
Member, CFA Institute, Financial Analysts of Philadelphia
M.S. Computer Science, George Mason University, Fairfax, VA
Certificate in Software Systems Engineering, George Mason University, Fairfax, V
A
B.S. Cum Laude, Computer Science, Mathematics, Towson University, Towson, MD