Lee D. Harbert

Current

• Chairman at The Harbert Company

Past

• Managing Director at Barclays Global Investors
• Senior Vice President at Fidelity Investments
• Senior Vice President at Bank of America

• Director of Operations at MIDLAND MONTAGUE San Francisco, CA
• Vice President at Crocker National Bank San Francisco, CA
• Assistant Treasurer at ADVANCE MORTGAGE CORPORATION Southfield, MI

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Education

• University of Michigan - Stephen M. Ross School of Business

Connections

19 connections

Industry

Financial Services

Lee D. Harbert’s Experience

• Chairman

  The Harbert Company

  (Financial Services industry)

  January 2003 — Present (6 years 11 months)

• Managing Director

  Barclays Global Investors

  (Public Company; BCS; Investment Management industry)

  1998 — 2002 (4 years )

  A $700 million revenue asset management firm.
  FINANCIAL INSTITUTIONS INTERMEDIARY SERVICES
  Managing Director
  • Day-to-day management of fourth largest asset manager for defined contribution plans in U.S.
  • Scope of responsibilities included direct sales, relationship management, and sales support
  • Established new relationships; deepened penetration of existing clients with new products
  • Improved ranking by size from 5 to 4., retained largest client; the federal government, with $74 billion in assets

• Senior Vice President

  Fidelity Investments

  (Investment Management industry)

  June 1996 — November 1998 (2 years 6 months)

  A $10 billion (management fees) financial services firm; largest provider of asset management and support services for the 401K market in the U.S.
  
  Senior Vice President
  Head of the Plan Sponsor and Participant Services organization which focused on delivering retirement plan solutions to the Health Care and Educational sectors.
  
  • Co-led the sales efforts for the largest piece of new business in Company history (Mass. Institute of Tech.): $2 billion assets, generating $4 million annual revenue.
  
  • Consolidated transfer agent systems on to a single platform: more than 23,000 Retirement Plans involving more then 400,000 investors, achieving 10% annual operating savings.

• Senior Vice President

  Bank of America

  (Financial Services industry)

  1987 — 1996 (9 years )

  At that time, second largest commercial bank in U.S.
  GLOBAL SECURITIES SERVICES
  Senior Vice President (1993-96)
  TURNAROUND
  Daily responsibilities for Master Trust Master Custody, Global Custody, Securities Lending, and U.S. and International Securities Clearing:
  • Managed a world-wide staff of 1500 with operating units in three continents, client assets in excess of $500 billion and daily transaction volume of $25 billion.
  
  Vice President (1987-92)
  “Inherited” an organization which was in chaos and with serious breaches of fiduciary responsibilities in its books and records:
  
  • Reduced $8 billion operating losses; positioned Company to move forward.
  
  • Successfully led integration efforts for two major banking acquisitions.

• Director of Operations

  MIDLAND MONTAGUE San Francisco, CA

  (Financial Services industry)

  1986 — 1987 (1 year )

  1986 MIDLAND MONTAGUE San Francisco, CA
  Capital markets start-up firm owned by Midland Bank PLC.
  Director of Operations
  START UP
  • Gained start up experience in the capital market arena. During the first year implemented new technologies for securities trading, portfolio accounting and a new compliance and regulatory department.
  
  • Realized $5 million in first year profit, with no operating losses.
  
  • Firm performed in the top 10% in its peer group.

• Vice President

  Crocker National Bank San Francisco, CA

  (Financial Services industry)

  1980 — 1986 (6 years )

  1980 CROCKER NATIONAL BANK San Francisco, CA
  Commercial bank – 12th largest in the U.S.
  CAPITAL MARKET OPERATIONS
  Vice President Initially joined as a Financial Analyst, appointed AVP in 1982, VP in 1985
  • Extensive operating experience in retail, corporate, and capital markets.
  
  • In 6 years promoted 7 times, each with increased responsibilities.
  • Promoted and relocated to help turn around struggling Crocker Bank business unit: over $180 million operating loss exposure. Internal audit and bank regulators required timely resolution.
  • Developed comprehensive plan which included revamping operating procedures, complete new management team, and new technology platform. Improved operating efficiency 400%. Reduced loss exposure to less then $10 million within eight months. Completed all open items, six month’s ahead of plan, with a total write off $500K.
  • Managed over 100 investment professionals involved in U.S. Government primary dealership investment activities

• Assistant Treasurer

  ADVANCE MORTGAGE CORPORATION Southfield, MI

  (Financial Services industry)

  1979 — 1980 (1 year )

  ADVANCE MORTGAGE CORPORATION Southfield, MI
  Mortgage bank.
  Assistant Treasurer
  • Managed the Hazard Insurance Department to ensure the entire mortgage portfolio had proper insurance; it consisted of over 150,000 homes valued at $2 + billion.

Lee D. Harbert’s Education

• University of Michigan - Stephen M. Ross School of Business

  BBA , Finance and Accounting , 1975 — 1979

Lee D. Harbert’s Contact Settings

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