People: RAIT Financial Trust (RAS)

RAS on New York Consolidated

8.26USD
23 Apr 2014
Price Change (% chg)

$0.04 (+0.49%)
Prev Close
$8.22
Open
$8.22
Day's High
$8.32
Day's Low
$8.18
Volume
392,016
Avg. Vol
890,616
52-wk High
$9.21
52-wk Low
$6.16

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Summary

Name Age Since Current Position

Scott Schaeffer

50 2014 Chairman of the Board of Trustees, Chief Executive Officer

Scott Davidson

45 2014 President

James Sebra

37 2012 Chief Financial Officer, Treasurer

Raphael Licht

45 2009 Chief Operating Officer, Secretary

Kenneth Frappier

60 2011 Executive Vice President - Portfolio and Risk Management

Andrew Batinovich

54 2013 Independent Trustee

Edward Brown

1999 Independent Trustee

Frank Farnesi

65 2006 Independent Trustee

S. Kristin Kim

49 2003 Independent Trustee

Arthur Makadon

70 2002 Independent Trustee

Jon Sarkisian

51 2011 Independent Trustee

Andrew Silberstein

45 2012 Trustee

Murray Stempel

58 2006 Independent Trustee

Biographies

Name Description

Scott Schaeffer

Mr. Scott F. Schaeffer is Chairman of the Board of Trustees, Chief Executive Officer of RAIT Financial Trust. He has served as chairman of the board and as a trustee since December 2010, chief executive officer, or CEO, since February 2009, president since February 2008, chief operating officer from February 2008 to February 2009, co-president and co-chief operating officer from December 2006 to February 2008 and president and chief operating officer from September 2000 to December 2006. Mr. Schaeffer serves on the board of directors of Independence Realty Trust, Inc., or IRT. Mr. Schaeffer has served as the chairman of the board of directors and as a director of IRT. IRT files reports under the Securities Exchange Act of 1934, or the Exchange Act. Mr. Schaeffer served as a director of Resource America, Inc. (a publicly traded specialty finance company), or Resource America, from 1997 to 2002, the vice chairman of the board of directors of Resource America from 1998 to 2000, the executive vice president of Resource America from 1997 to 1998, and a senior vice president of Resource America from 1995 to 1997. Mr. Schaeffer also served as President of Resource Properties, Inc. (a wholly-owned real estate subsidiary of Resource America) from 1992 to 2000.

Scott Davidson

Mr. Scott L. N. Davidson is President of the Company. Mr. Davidson has served as RAIT’s President since January 2014 and served as a Managing Director of RAIT from April 2010 to January 2014. Prior to joining RAIT, Mr. Davidson served as a portfolio manager for Carlyle Blue Wave, an asset management firm, from January 2007 to June 2008. From September 2005 to November 2006, Mr. Davidson served as a portfolio manager for Amaranth LLC, an asset management firm. From 1993 to January 2005, Mr. Davidson served as Managing Director and Group Head at JPMorgan and its predecessors, where his responsibilities included running their commercial mortgage backed securities business, asset backed securities business and their respective risk and trading operations.

James Sebra

Mr. James J. Sebra is Chief Financial Officer, Treasurer of RAIT Financial Trust, since May 22, 2012. He was senior vice president and chief accounting officer from May 2007 to May 2012. Mr. Sebra has served as IRT’s chief financial officer since May 2012 and as IRT’s treasurer since January 2011. Mr. Sebra joined RAIT in connection with the TRFT acquisition having served as TRFT’s vice president and chief accounting officer since June 2005. Prior to joining TRFT, Mr. Sebra was the controller of Brandywine Realty Trust, a publicly held real estate investment trust, from 2004 through 2005. From 1998 through 2004, Mr. Sebra worked with Arthur Andersen LLP and KPMG LLP, public accounting firms, serving a variety of publicly held and privately held real estate companies and professional service firms.

Raphael Licht

Mr. Raphael Licht is Chief Operating Officer, Secretary of RAIT Financial Trust. He has served as chief operating officer since February 2009, secretary since December 2006, and chief legal officer and chief administrative officer from December 2006 to February 2009. Mr. Licht joined RAIT in connection with the TRFT acquisition having served as TRFT’s chief legal officer and secretary since March 2005 and executive vice president and chief administrative officer since April 2006. Mr. Licht served as a director of IRT from January 2011 to March 2011. Mr. Licht has served as IMT’s president and as one of its directors since October 2011. Mr. Licht also served as the chief legal officer of Cohen & Company from 2001 until April 2006. From 2000 until 2001, Mr. Licht served as general counsel at iATM global.net Corporation, an ATM software joint venture between TRM Corporation and NCR Corporation. From 1997 until 2000, Mr. Licht was an associate with Morgan Lewis & Bockius LLP, a law firm, specializing in structured finance and securitizations. From 1996 until 1997, Mr. Licht was an associate at Ledgewood, P.C., a law firm, specializing in real estate and securities law.

Kenneth Frappier

Mr. Kenneth R. Frappier is Executive Vice President - Portfolio and Risk Management of RAIT Financial Trust., since May 2011. He was executive vice president - risk management from February 2008 to May 2011, chief credit officer from December 2006 to February 2008 and served as senior vice president-portfolio and risk management from April 2002 to December 2006. Mr. Frappier has served as IMT’s executive vice president—portfolio and risk management since October 2011. From December 1999 until he joined RAIT, Mr. Frappier was a senior vice president and regional chairman of the senior officers’ loan committee in Pennsylvania and Southern New Jersey for Hudson United Bank (a commercial bank), following the merger of Hudson United Bancorp (a bank holding company) and JeffBanks, Inc., (a bank holding company) of which Mr. Frappier had been senior vice president since 1993. Before 1993, Mr. Frappier was an executive vice president for Dominion Bancshares Corporation’s, or Dominion, Greater Washington Region (Northern Virginia, Washington, D.C. & Maryland) and, before the acquisition of State National Bank, or State, by Dominion in 1987, he was senior vice president and senior lender at State. Before 1977, he was a national bank examiner for the Comptroller of the Currency, a bureau of the U.S. Treasury Department.

Andrew Batinovich

Mr. Andrew Batinovich is Independent Trustee of RAIT Financial Trust. Mr. Batinovich currently serves as President and Chief Executive Officer of Glenborough, LLC. In 2010, Mr. Batinovich led a private investor group in acquiring Glenborough, LLC and related real estate assets that were originally part of Glenborough Realty Trust, a NYSE listed real estate investment trust, or REIT, which was sold to affiliates of Morgan Stanley in 2006. From December 2006 to October 2010, Mr. Batinovich served as President and Chief Executive Officer of Glenborough, LLC. In connection with the 2006 transaction, Mr. Batinovich and the Glenborough Realty Trust senior management team were retained to operate the new private entity, and the team remains together in the newly re-acquired Glenborough, LLC. In 1996, Mr. Batinovich co-founded Glenborough Realty Trust and was President and Chief Executive Officer and a director at the time of the sale in 2006. Mr. Batinovich was appointed President of Glenborough Realty Trust in 1997 and Chief Executive Officer in 2003. He also served as Chief Operating Officer and Chief Financial Operator during his tenure at Glenborough Realty Trust. Prior to founding Glenborough Realty Trust, Mr. Batinovich served as Chief Operating Officer and Chief Financial Officer of Glenborough Corporation until 1996 when it was merged into Glenborough Realty Trust. Prior to joining Glenborough Corporation in 1983, Mr. Batinovich was an officer of Security Pacific National Bank. Mr. Batinovich is a director of Sunstone Hotel Investors, Inc. Mr. Batinovich is a member of the Building Owners and Managers Association, the Association of Foreign Investors in Real Estate and other trade associations. He also serves as a trustee of the American University of Paris.

Edward Brown

Mr. Edward S. Brown is Independent Trustee of RAIT Financial Trust., since June 1999. Mr. Brown has been president of The Edward S. Brown Group (a real estate development company) since 1985.

Frank Farnesi

Mr. Frank A. Farnesi is Independent Trustee of RAIT Financial Trust., since December 2006. He joined the board in connection with the acquisition of Taberna Realty Finance Trust, or TRFT, in December 2006, or the TRFT acquisition. He was a member of TRFT’s board from April 2005 until the TRFT acquisition in December 2006. He is a retired partner of the international accounting firm of KPMG LLP, where he worked from 1969 to 2001. Before retiring from KPMG, he was the Pennsylvania business unit partner in charge of tax. He also served as national partner in charge of tax compliance and worked with a wide variety of clients in the banking, real estate, technology and private equity fields. He currently serves on the board of trustees of Immaculata University and the board of directors of Beneficial Mutual Bancorp, Inc., a publicly held federally chartered stock holding company for Beneficial Mutual Savings Bank.

S. Kristin Kim

Ms. S. Kristin Kim is Independent Trustee of RAIT Financial Trust., since October 2003. Ms. Kim is the founder of Sansori, which has provided educational programs for social entrepreneurs and strategic planning services for social ventures since 2009. Prior to Sansori, Ms. Kim was president of AllLearn, an online education venture among Oxford, Stanford, and Yale Universities from November 2002 until 2006, having joined AllLearn in January 2001 as its general counsel. From 1999 to 2001, Ms. Kim held several senior positions at Harvard University’s John F. Kennedy School of Government, including Director for New Initiatives. From 1989 to 1999, she was an attorney at the law firm of Simpson Thacher & Bartlett.

Arthur Makadon

Mr. Arthur Makadon is Independent Trustee of RAIT Financial Trust., since July 2002. Mr. Makadon is a partner of Ballard, Spahr, LLP, or Ballard Spahr, (a law firm) in its litigation department and practice leader of the white collar/investigations group. Mr. Makadon served as the chairman of Ballard, Spahr from July 2002 through June 2011. Before that, since 1984, Mr. Makadon had been chairman of Ballard Spahr’s litigation department.

Jon Sarkisian

Mr. Jon C. Sarkisian is Independent Trustee of RAIT Financial Trust since December 15, 2011. Mr. Sarkisian has been an executive vice president of CBRE Group, Inc., or CBRE, a publicly traded commercial real estate services firm, since July 2003. Mr. Sarkisian joined CBRE when it acquired Insignia/ESG, or Insignia, a commercial real estate services firm, in July 2003. Mr. Sarkisian was an executive vice president at Insignia from June 1998 to July 2003. Mr. Sarkisian joined Insignia when it acquired Jackson-Cross Company, or Jackson-Cross, a commercial real estate services firm, in June 1998. Mr. Sarkisian was a senior vice-president for Jackson-Cross from October 1988 to June 1998.

Andrew Silberstein

Mr. Andrew M. Silberstein is Trustee of Rait Financial Trust. Mr. Silberstein is a partner of Almanac and joined the predecessor to Almanac, Rothschild Realty Managers, as a managing director in 2009. From 2004 to 2008, Mr. Silberstein served as the chief investment officer and chief operating officer for Stoltz Real Estate, a real estate company. Prior to that, Mr. Silberstein worked in real estate investment banking and private equity, first at Bear Stearns & Company from 1994 to 1998 as a vice president and then at Morgan Stanley from 1999 to 2004 as an executive director. Mr. Silberstein currently serves on the Boards of the following privately-owned real estate companies: RXR Realty, Welsh Property Trust, Westcore Properties and NRES Holdings.

Murray Stempel

Mr. Murray Stempel, III, is Independent Trustee of RAIT Financial Trust., since December 2006. He joined the board in connection with the TRFT acquisition. He was a member of TRFT’s board of trustees from April 2005 until the TRFT acquisition in December 2006. Mr. Stempel has served since 2008 as the vice chairman of Royal Bancshares of Pennsylvania, Inc., or Royal Bancshares, a publicly traded bank holding company. Mr. Stempel is a director of Royal Bancshares. From 2004 until 2008 he served as executive vice president and chief lending officer at Royal Bank America, a wholly-owned bank subsidiary of Royal Bancshares, responsible for the day-to-day management of the bank. From 2000 to 2004, he was a senior vice president at Royal Bank America.

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