WHARTON VALUATION ASSOCIATES - Key Persons
Andrew Carver, Ph.D., CFA brings to Wharton Valuation professional experience in equity research and derivative risk management as well as academic experience as a finance professor and researcher. Dr. Carver has worked on a number of projects at Wharton Valuation, many involving the application of option pricing methods. He has significant experience applying numerical techniques such as Monte Carlo simulation and binomial lattices to value warrants and other investments with embedded options. Previously, he worked as an Equity Research Analyst at Morningstar Inc., covering the banking sector. There he analyzed and valued dozens of regional banking firms. Earlier in his career, he served as an associate on the currency options desk at NationsBanc-CRT, where he provided pricing and risk management for currency options. Dr. Carver was a faculty member at the Department of Finance and International Business at The College of New Jersey's School of Business. He graduated from Duke University with a BS in mechanical engineering and economics, and earned his Ph.D. and MS from the Department of Management Science and Engineering at Stanford University.
Job Titles:
- MANAGING DIRECTOR
- Managing Director / Wharton Valuation Associates, Inc.
Andrew Shaiman has significant experience valuing industrial, consumer products and high tech companies, as well as professional service firms and practices. His engagements have also included the valuation of such intangible assets as the record library of a major recording company, the subscriber lists of national newspapers and magazines, and patented and proprietary technology of numerous high tech companies.
Mr. Shaiman has supported his work in court proceedings as well as in negotiations with the IRS and other adverse parties. He has been qualified by the Superior Court of New Jersey as an expert witness on business valuation issues and is a member of the American Arbitration Association's Panel of Experts. In addition to his valuation work, Mr. Shaiman has broad-based corporate finance experience advising clients on mergers, acquisitions, divestitures and ESOPs.
Prior to founding Wharton Valuation Associates, Inc., Mr. Shaiman was a Vice President in the Merchant Banking Group of Marine Midland Bank, where he served as Department Manager for Valuation Services and Product Manager for ESOP Finance. Prior to that, he was a Senior Manager of Valuation and Appraisal Services for the accounting firm of Touche Ross & Co. (now Deloitte & Touche), and a Senior Consultant with Arthur D. Little Valuation. Mr. Shaiman has conducted continuing professional education courses for certified public accountants in New Jersey.
Mr. Shaiman graduated from The Wharton School of Business at the University of Pennsylvania with an MBA in finance. He is also a Magna Cum Laude graduate of Rutgers College, with a BA in economics.
Ms. Aversa joined Wharton Valuation Associates as a Valuation Analyst in 2006. She came to Wharton with a varied financial background, beginning her career in the banking industry. More recently, Ms. Aversa worked as a Financial Analyst with The Johnson & Johnson Family of Companies. She graduated from the College of New Jersey with a BA in finance.
Job Titles:
- MANAGING DIRECTOR
- Managing Director / Wharton Valuation Associates, Inc.
For over 35 years, Jeffrey J. Nelson has specialized in the financial analysis and valuation of companies and their securities. Mr. Nelson has consulted in a wide variety of industries and has worked in every region of the country, as well as in Europe. He has supported his valuation work in expert testimony, negotiations, and client support with the IRS, auditors and stakeholders in business transactions.
Mr. Nelson has worked with leading attorneys, accountants and other professional advisors to create solutions to complex corporate finance problems. His broad corporate finance experience includes extensive work advising companies and their shareholders on mergers, acquisitions, divestitures and similar transactions.
Prior to joining Wharton Valuation, Mr. Nelson was Vice President and Manager of Mellon Bank's Corporate Finance Group, the unit offering valuation and merger and acquisition advisory services to Bank clients. In addition, he served on the Bank's Equity Investment Committee. Prior to that, Mr. Nelson held senior positions at Price Waterhouse and Touche Ross (Director of Valuation Operations in the New York office), where he was responsible for developing their valuation practices and consulting with the partners and professional staff on valuation issues. In addition, Mr. Nelson served as a Director in Marine Midland's Investment Banking Division, where he developed the Division's valuation and corporate finance advisory business.
For the first 14 years of his career, Mr. Nelson was associated with Management Planning, Inc. (MPI), a Princeton, New Jersey valuation consulting firm. In addition to pure valuation work, his responsibilities with this company included advising on the sales of client companies. During his last three years with MPI, he served as Chief Operating Officer, Treasurer and member of the Board of Directors.
Mr. Nelson received an MBA and a BS degree from Seton Hall University. He also did graduate work in economics in the Ph.D. program at the Graduate School of Business at Rutgers University. For a number of years, he was associated with Trenton State College (now The College of New Jersey) as an adjunct professor of finance and served on the Business Advisory Committee of that institution's School of Business. Mr. Nelson participates in the continuing education program sponsored by the American Society of Appraisers and is a member of the ESOP Association and the National Center for Employee Ownership. He has conducted continuing professional education courses on business valuation for certified public accountants in New Jersey.
Thomas Patrick, Ph.D. is a valuation specialist, having served as a consultant to many corporations and banking organizations, as well as another prominent firm specializing in the valuation of companies and securities. Dr. Patrick has also been accepted by the Superior Court of New Jersey as an expert witness in finance and management.
Dr. Patrick has extensive teaching experience at both the undergraduate and graduate levels. Currently he is a professor of finance at The College of New Jersey's School of Business, and he has previously held faculty positions at the University of Notre Dame and Rider University. His areas of specialization include banking, capital budgeting, business and securities valuation, international finance and strategic management.
In addition to his teaching and consulting work, Dr. Patrick's research focusing on banking issues and small business financial management has been published in both national and international journals. He has presented his findings before national and regional professional finance and economics associations. Dr. Patrick earned his BA from Syracuse University and his Ph.D. in economics from the University of Kentucky.
Job Titles:
- a Financial and Business Analyst
Mr. Steger has worked with Wharton Valuation Associates as a financial and business analyst since early 2008. In this capacity he supported a variety of business valuations by completing numerous financial analyses of both client and competitor firms. Prior to his affiliation with Wharton Valuation, Mr. Steger had a 30 year career in the appraisal industry performing business and intangible asset valuations for publicly and privately held companies in a range of industries including manufacturing, services, food, retail and media. These valuations were used for merger and acquisition, financing, planning, gifting and recapitalization purposes. Mr. Steger earned an MBA in finance from Rutgers Graduate School of Business and a BS in civil engineering from New Jersey Institute of Technology.