Insurance Industry Professional, Steven Wevodau, Forms Consulting Practice

Steven Wevodau forms Professional Advisory Practice to Support Insurance Industry Firms
 
Nov. 9, 2008 - PRLog -- Steven Wevodau announced today the formation of an insurance industry professional consulting practice.  Wevodau, who has 25 years of professional experience in a variety of roles has cultivated the ability to work vertically and horizontally within the insurance industry.  Specifically, Steven has an extensive background in finance, legal, operational, mergers & acquisitions, strategic planning and business development.

Following is a summary of Wevodau’s background:

SUMMARY OF SKILLS

Steven Wevodau, Chief Financial Officer of Ash Financial Holdings Group, an $80 million brokerage general agency based in Fort Wayne, IN, possesses extensive expertise in the property and casualty and life and health insurance industries as well as the financial services market. His diverse background includes broad expertise in areas such as finance, operations, marketing, human resources, and legal. He also has extensive experience in mergers and acquisitions and the integration of acquired companies.

As Chief Financial Officer of Ash, Steven lead Corporate Finance, Producer Services, Human Resources, Commissions and participated in leading technology initiatives.  Steven was a Board Member of the company and lead and developed numerous strategic initiatives including institutional client development; integration efforts; negotiating partnership investment strategies; managed credit facilities; lead mergers and acquisitions activities; upgraded finance team functions to include organic growth analysis; cost center accounting; SAS 70 readiness; and the upgrade of human capital development.

Most recently, as Senior Vice President of PSA Financial Center, Steven led a corporate refinancing initiative that resulted in securing a $9.5 million senior credit facility.  In addition, Wevodau formulated and led PSA’s acquisition of RSM McGladrey’s Employee Benefit Division.  During his brief tenure, PSA’s revenues increased from $16 million to over $25 million on a run rate basis.  He also led PSA’s human resources, business center operations, web-technology, and marketing initiatives.

Previously, Steven served as managing partner of WFG Capital Advisors, an insurance industry leading investment banking firm where he led the introduction of WFG into the insurance and financial services market and spearheaded business development, client and transactional services.  Under his direction, WFG consistently lead the insurance and financial services industries as one of the top firms in announced transactions for 2004-2006.

Prior to that, Steven served as Senior Vice President, Corporate Finance of the Insurance and Education Services group of The BISYS Group (formerly NYSE- BSG). During his tenure, he was a key participant in the acquisition, operation and integration activities of a $250 million Insurance and Education Services group.  His primary duties included acquisition development, negotiation and transaction leadership of more than 200 target companies. He also served as corporate legal and financial due diligence leader and was responsible for all post-acquisition integration planning.  He also had charge of operational oversight in addition to strategic development of the operating group.

Steven has cultivated the ability to work vertically and horizontally in the insurance market. During his career, he has overseen complex reinsurance programs, managed operations at the carrier level, and has been a key executive of a national insurance distribution leader.

Steven has authored numerous articles for industry publications. His expert insight into the insurance brokerage market is sought after by the trade media, and his analysis of industry trends and developments has appeared in numerous national and worldwide publications.    Wevodau was the former author of M & A Insights published by The National Underwriter Company.  

EDUCATION

•   The Pennsylvania State University, Finance Major 1986



PROFESSIONAL EMPLOYMENT

•   2008 – Present    Chief Financial Officer, Ash Financial Holdings Group
Fort Wayne, Indiana

•   2007 – 2008   Senior Vice President & CFO, PSA Financial Center (Interim)
Lutherville, MD

•   2002 – 2007   Managing Partner, WFG Capital Advisors LP
Harrisburg, Pennsylvania

•   1999 – 2002   Corporate Senior Vice President, Finance, BISYS Insurance & Education Service
Group (Formerly NYSE- BSG)
New York, New York

•   1996 – 1999   Vice President, Finance, BISYS Insurance Services Division
Harrisburg, Pennsylvania

•   1993 – 1996   Chief Financial Officer, The Underwriters Group, Inc.
(Predecessor Company of BISYS Insurance Services)
Harrisburg, Pennsylvania

•   1988 – 1993   Vice President / Treasurer / Chief Financial Officer
Millers Mutual Insurance Company
Harrisburg, Pennsylvania

•   1986 – 1988   Controller, Millers Mutual Insurance Company
Harrisburg, Pennsylvania

SPECIAL ACCOMPLISHMENTS / TRAINING

•   Earned NASD Series 7 and NASD Series 63 licenses (2003)
•   Received specialized training in Advanced Financial Management of Insurance Companies (1986-1987)
•   Selected to BISYS Summit Sphere Club, granted for outstanding achievement.  (1998 - 2001)
•   Featured lecturer on behalf of Duke University’s Fuqua School of Management (2003)
•   Featured speaker at the 2004 NAPSLO annual convention (2004)
•   Featured presenter at the Council of Insurance Agents and Brokers convention (2004)
•   Expert panelist featured regarding the industry impact of Eliot Spitzer’s investigations (2004)
•   Industry expert in numerous complex civil litigation cases (2003-2006)
•   Industry source frequently called upon by media for market trends, industry developments and merger and acquisition updates (2003-2007)
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