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Corporate Finance
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Corporate finance officers must be able to negotiate. Irreplaceable is the employee who can accomplish an organization’s goals while satisfying the needs of clients. Companies are constantly looking into possible mergers and acquisitions and need employees who can assess the cost and benefits of various potential partners.
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At XFL, David Wang assumes the role of Chief Financial Officer after serving as Managing Director, Corporate Finance since joining XFL in 2006. He replaces Gordon Lau, who is leaving XFL to pursue other interests. David will assume the role on July 1st and is working closely with Gordon to facilitate a smooth transition. During his tenure with XFL, David worked with Gordon on several financing transactions, including XFL's $100 million high yield bond financing. Dan Connell continues in his role as XFL Chief Operating Officer.
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While engaging in these corporate finance projects the principals of the firm began focusing on providing a full scope of investment banking services and creating a co-investment growth capital fund for minority vendors to F1000 enterprises. At the close of 2006, Atlanta Life Financial Group acquired Jackson Securities. Shortly thereafter an additional key professional was added to the Corporate Finance team and the Atlanta Life Venture Fund was created.
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Salaries and benefits are increasing in all areas of corporate finance, particularly for chief financial officers. According to a survey of 1500 of the most profitable companies in the country done by Investor’s Fiduciary Services, the average individual compensation for 200 CFO’s totaled nearly 1 million dollars. Included in the benefits package was salary, ‘other’ income, bonuses, as well as both restricted and exercised stock options. Elite CFO’s like Disney’s Stephan Bollenbach receive compensation valued at over 20 million dollars.
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Corporate finance utilizes tools from almost all areas of finance. Some of the tools developed by and for corporations have broad application to entities other than corporations, for example, to partnerships, sole proprietorships, not-for-profit organizations, governments, mutual funds, and personal wealth management. But in other cases their application is very limited outside of the corporate finance arena. Because corporations deal in quantities of money much greater than individuals, the analysis has developed into a discipline of its own. It can be differentiated from personal finance and public finance.
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In today’s corporate world, finance officers must have leadership capabilities, or they cannot succeed. Financial executives must not only understand the vicissitudes of the financial market, they must be involved in creating change themselves. Officers must be leaders who innovatively solve problems and develop strategies for success.
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Corporate Finance