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BOARD OF DIRECTORS
ENGAGEMENT SUMMARY

Client:
Broker/Dealer, acting as a market maker in more than 300 equity issues

Engagement:
The firm had outgrown their operating methodology and felt they needed to formalize their management of critical issues and initiatives. Our role was to advise and assist the client during the very sensitive and critical process of establishing and staffing board committees. The objective was to ensure that board members used their skills effectively and efficiently.

Deliverable:
After reviewing the prior three years of board issues and responses, we met with each board member to learn their perspective and current responsibility within the organization. During these meetings we identified the sensitivities of individual board members, their strengths and interests.

Our recommendations outlined the role and responsibilities of five committees and proposed board members for each one. We outlined an evolutionary plan to establish each committee, with operating procedures and board presentation guidelines. We also identified areas of future growth for the firm as well as the demand of the industry and the committee best positioned to respond.

After a review by the board of directors, our findings and recommendations were implemented as proposed.

Result:
We were engaged to assist the client in implementing the recommendations and addressing start-up issues. Benefits were realized immediately, as responsibilities for the research, analysis and corporate strategies for various issues passed from the board to the individual committees.

Individual committees presented comprehensive, well-researched alternatives, with recommendations to the board for vetting and making decisions. Through improved analysis and clearer, more focused responses to firm initiatives and business opportunities, the benefits of individual committees were realized within nine months.

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