Hard to Believe it’s Been 10 Years!
On November 1, 2011, The Kafafian Group (“TKG”) celebrated its 10 Year Anniversary as an independent company. But actually, our history goes back to the early 1980’s.
TKG HISTORY
The seeds of TKG were planted at First National State Bank of New Jersey (“FNSB”) in the late 1970’s. FNSB was eventually merged into First Fidelity…First Union…Wachovia…Wells Fargo. Bob Prothero, (“Bob P”) a former Peat, Marwick, Mitchell & Co. Partner (“PMM”, now “KPMG”), and at the time CFO of FNSB, was a mentor to Bob Kafafian (“Bob K”), Bob Sanders (“Bob S”), and Dick Ciolli.
Bob P was one of the most forward thinking and capable consultants in the United States, having managed the bank consulting practice for PMM. He developed the first Trust profitability accounting system, was instrumental in the way credit cards are validated and processed today, and began developing and implementing bank-wide management accounting systems in the mid-1970’s. He is the father of our profitability measurement service bureau that flourishes to this day. Bob P was preaching about funds transfer pricing, cost and capital assignment, and organizational, line-of-business, branch, product, officer, customer and relationship profitability long before most bankers even thought that such measurement was possible.
In 1982, Bob P started “The Q Group” (“QGI”), a bank consulting firm along with Bob K and Dick Ciolli. QGI served banks in the northeast and mid-Atlantic region for 10 years until Bob P’s retirement in 1992. At that time QGI was merged into Hopper Soliday & Co. (“HSC”) in Lancaster, Pennsylvania. During our tenure at HSC, Bob K ran the Investment Banking and Consulting Services Divisions. HSC was eventually merged into Tucker Anthony in early 1999 and the combined Company was merged into Royal Bank of Canada (“RBC”) in September of 2001.
At that time, the world was in turmoil, reeling from the devastation of 9/11. In October, 2001, Bob K and eight other employees negotiated the purchase of the Consulting Services Division from RBC and TKG was born, effectively a reincarnation of QGI. We are forever indebted to TKG’s “Plank Owners” (Jeff Marsico, our resident Navy veteran, arranged for the original employees/shareholders of TKG to receive an authentic Navy “Plank Owner” certificate, which signifies the first crew of a newly commissioned ship): Bob Kafafian, Jeff Marsico, Bob Sanders, Cindy Miller, Kelly Smith, Todd Sassaman, Sharon Lorman, and Steve Murray who have helped make TKG what it is, along with all of the other employees who have since joined us and are with us today.
TKG TODAY
Throughout the years we have worked with almost 400 financial institutions in over 40 states. We have built our staff almost exclusively with former bankers who have significant and diversified experiences in the industry. Each of our five lines of business has grown and we remain committed to offering a focused list of services where we believe we can tie our expertise to our clients’ and the market’s needs. Our five lines of business are as follows:
- Performance Measurement and Profitability Outsourcing – Profitability Service Bureau, Funds Transfer Pricing, Cost and Capital Assignment, Risk Adjusted Return on Capital, Profitability Implementation Consulting, Profitability System Audits, Profitability Peer Group and Results Analysis, Performance Measurement Reporting
- Strategic and Business Planning – Strategic and Capital Planning, Start-up (De Novo) Business Plans, Retreat Facilitation
- Regulatory Assistance – Management Studies; Strategic, Capital and Profit Plans; Project Management
- Profit/Process Improvement – Whole Bank Operational Analysis, Departmental Studies, Contract Negotiations, Vendor Analysis
- Investment Banking Advisory Services – Whole Bank M&A, Branch Purchase or Sale, Fee-Based Line-of-Business Purchase or Sale, Valuation Analysis
A full listing of products and services can be found on our website.
TKG STAFF
Listed below are our senior staff members and their areas of expertise. For a full listing of staff and biographies please see our website.
Robert E. Kafafian, President & CEO – Performance Measurement and Profitability Outsourcing, Strategic and Business Planning, Regulatory Assistance, Profit/Process Improvement, Investment Banking Advisory Services
Jeffrey P. Marsico, EVP – Performance Measurement and Profitability Outsourcing, Strategic and Business Planning, Regulatory Assistance, Profit/Process Improvement, Investment Banking Advisory Services
George W. Millward, Managing Director – Performance Measurement and Profitability Outsourcing, Strategic and Business Planning, Regulatory Assistance, Profit/Process Improvement, Investment Banking Advisory Services
Richard A. Pollard, Managing Director – Resident Episcopal Priest, Legal, Lending, and Regulatory Assistance
Robert J. Sanders, Managing Director – Strategic and Business Planning, Regulatory Assistance, Profit/Process Improvement
Richard G. Ciolli, SVP – Performance Measurement and Profitability Outsourcing, Profit/Process Improvement
Cynthia L. Miller, SVP – Performance Measurement and Profitability Outsourcing
Kelly C. Smith, SVP – Performance Measurement and Profitability Outsourcing, Strategic and Business Planning, Regulatory Assistance, Profit/Process Improvement
Lars Swanson, SVP – Performance Measurement and Profitability Outsourcing, Strategic and Business Planning, Regulatory Assistance, Profit/Process Improvement
Kathleen Furlong, VP – Performance Measurement and Profitability Outsourcing
Sharon J. Lorman, VP– Performance Measurement and Profitability Outsourcing, Strategic and Business Planning, Regulatory Assistance, Profit/Process Improvement, Investment Banking Advisory Services
Stephen S. Murray, VP – Performance Measurement and Profitability Outsourcing
Jill A. Pursell, VP – Performance Measurement and Profitability Outsourcing, Strategic and Business Planning, Regulatory Assistance, Profit/Process Improvement, Investment Banking Advisory Services
Todd R. Sassaman, VP – Performance Measurement and Profitability Outsourcing, Strategic and Business Planning, Regulatory Assistance, Profit/Process Improvement, Investment Banking Advisory Services
Maria A. Kachmar, Consultant – Performance Measurement and Profitability Outsourcing, Administration
Andrew S. Rietz, Consultant – Performance Measurement and Profitability Outsourcing, Strategic and Business Planning, Investment Banking Advisory Services
WE GIVE THANKS
We are truly grateful to all of our clients, associates, business partners, and friends for all you have individually and collectively contributed to make this anniversary possible. Without you, none of this could have occurred. And while we greatly value all of our business relationships, we value you more as friends and cherish the personal relationships we have enjoyed for so many years. We extend a heartfelt THANK YOU to all of you.
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