Michael Smith

Michael Smith

Mike Smith is a Bates Group consultant and expert witness based in Bozeman, MT. Throughout his 40-year securities and banking career, he has interacted at the highest levels of management, as well as with clients of all types and account sizes. As a result of this experience, Mr. Smith possesses an in-depth understanding of supervisory requirements and sales practice regulations, as well as most investment products and services including; Equities, Fixed Income, Mutual Funds, Investment Management, Options, Futures, Structured Products, Restricted Stock Transactions and Lending. As a Managing Director and Regional Manager, he was responsible for all aspects of the securities and banking activities within the Midwest region for three major firms: Lehman Brothers, Barclays Wealth and Citi Private Bank.

Mr. Smith managed up to 110 registered representatives, including compliance and operational staff. He supervised an Office of Supervisory Jurisdiction (OSJ), and was consistently noted in audit findings for a "high level of compliance awareness with regulatory rules and firm policies." Mr. Smith possesses an extensive understanding of Sarbanes- Oxley and SEC/FINRA regulations.

At Citi Private Bank, Mr. Smith had direct management and supervisory responsibility for servicing 125 UHNW clients; collectively with $1B in deposits, $1B in managed investments and $2.5B in outstanding loans. Comptroller of the Currency (OCC) audits reported the business to be in excellent compliance with all policies and regulations.
During his tenure at Lehman Brothers, Mr. Smith directly supervised four business lines; retail brokerage and investment advisory, middle-market fixed income and equity sales, and corporate cash management. Revenues and AUM's exceeded $110M and $6.5B respectively. In addition, internal and external audit results improved dramatically as a result of his restructuring of the compliance and operations teams.

Mr. Smith has meaningful crisis management experience as a result of overseeing the cleanup (legal, regulatory, financial, personnel, etc.) of a 15-year ongoing Ponzi scheme that was discovered in the Cleveland, OH office of Cowen and Co. shortly after the acquisition of Cowen's retail operations by Lehman Brothers. In addition, Mr. Smith further honed his crisis management skills during the six months prior to and after Lehman Brothers bankruptcy filing in September 2008.


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Michael Smith

A Consultant and subject matter expert in these services:

  • Securities and Financial Services Litigation & Consulting
    • Capital Markets
    • Retail
      • Securities and Financial Services Litigation & Consulting
      • Alternative Investments
      • Asset Backed Securities (ABS)
      • Auction Rate Securities (ARS)
      • Banking
      • Branch Management
      • Capital Markets
      • CDOs
      • Closed End Funds
      • Commodities
      • Complex Products
      • Distressed Securities
      • DOL Fiduciary Duty Rule
      • Energy
      • Equities
      • Employment
      • ETFs
      • ETNs
      • Fiduciary Duties/Responsibilities
      • Fiduciary Investments
      • Fixed Income
      • Fraud
      • Futures
      • Hedge Funds
      • Insider Trading
      • Industry Standards
      • Investment Advisory
      • Investment Management
      • Limited Partnerships
      • Margin
      • Market Evaluations
      • Market Manipulation
      • Money Laundering
      • Mortgages
      • Mortgage Backed Securities (MBS)
      • Mortgage Origination
      • Municipal Securities
      • Mutual Funds
      • Oil and Gas
      • Options
      • Outside Business Activity
      • OTC Derivatives
      • Private Equity
      • Private Placements
      • Private Securities Transactions
      • Portfolio Management
      • Preferred Securities
      • Puerto Rican Bonds
      • Real Estate Investment Trusts - REITs
      • Retirement Plans and IRAs
      • RIA Sales & Distribution
      • Selling Away
      • Sales Supervision
      • Sales Practice
      • Structured Products/Structured Notes
      • Suitability
      • Supervision
      • Trusts
      • Trust Investments
      • U-5 Reporting/Defamation
      • Unauthorized Trading
      • Wealth Management
      • Wrongful Termination
      • 40 Act - 12B1 Fees
      • 40 Act – 12B1 Fees
      • Alternative Investments
      • Auction Rate Securities (ARS)
      • Asset Backed Securities (ABS)
      • Banking
      • Branch Management
      • Capital Markets
      • CDOs
      • CLOs
      • CMBs
      • Corporate Bonds
      • Commodities
      • Complex Products
      • Corporate Debt
      • Distressed Securities
      • Employment
      • Employee Stock Ownership Plan (ESOP)
      • Equities
      • Equity Financing
      • ERISA
      • Fiduciary Investments
      • Financial & Asset Management
      • Financial Institution Sales
      • Fixed Income
      • Futures
      • Fraud
      • Hedge Funds
      • Industry Standards
      • Insider Trading
      • Institutional Trading Supervision
      • Investment Advisory
      • Investment Management
      • IPO
      • Market Evaluations
      • Margin
      • Market Manipulation
      • Money Laundering
      • Mortgages
      • Mortgage Backed Securities (MBS)
      • Mortgage Origination
      • Municipal Securities
      • Mutual Fund
      • Options
      • OTC Derivatives
      • Private Equity
      • Private Placements
      • Private Securities Transactions
      • Portfolio Management
      • Preferred Securities
      • REITS
      • Relationship
      • RIA Sales & Distribution
      • Selling Away
      • Sales Practice
      • Sales Process
      • Sales Supervision
      • Structured Products
      • Suitability
      • Supervision
      • Trading
      • Trusts
      • Trust Investments
      • Underwriting
      • Wrongful Termination
      • Regulatory & Internal Investigations
      • Data, Analyses & Analytics
      • Financial Crimes
    • Institutional
      • Securities and Financial Services Litigation & Consulting
      • Alternative Investments
      • Asset Backed Securities (ABS)
      • Auction Rate Securities (ARS)
      • Banking
      • Branch Management
      • Capital Markets
      • CDOs
      • Closed End Funds
      • Commodities
      • Complex Products
      • Distressed Securities
      • DOL Fiduciary Duty Rule
      • Energy
      • Equities
      • Employment
      • ETFs
      • ETNs
      • Fiduciary Duties/Responsibilities
      • Fiduciary Investments
      • Fixed Income
      • Fraud
      • Futures
      • Hedge Funds
      • Insider Trading
      • Industry Standards
      • Investment Advisory
      • Investment Management
      • Limited Partnerships
      • Margin
      • Market Evaluations
      • Market Manipulation
      • Money Laundering
      • Mortgages
      • Mortgage Backed Securities (MBS)
      • Mortgage Origination
      • Municipal Securities
      • Mutual Funds
      • Oil and Gas
      • Options
      • Outside Business Activity
      • OTC Derivatives
      • Private Equity
      • Private Placements
      • Private Securities Transactions
      • Portfolio Management
      • Preferred Securities
      • Puerto Rican Bonds
      • Real Estate Investment Trusts - REITs
      • Retirement Plans and IRAs
      • RIA Sales & Distribution
      • Selling Away
      • Sales Supervision
      • Sales Practice
      • Structured Products/Structured Notes
      • Suitability
      • Supervision
      • Trusts
      • Trust Investments
      • U-5 Reporting/Defamation
      • Unauthorized Trading
      • Wealth Management
      • Wrongful Termination
      • 40 Act - 12B1 Fees
      • 40 Act – 12B1 Fees
      • Alternative Investments
      • Auction Rate Securities (ARS)
      • Asset Backed Securities (ABS)
      • Banking
      • Branch Management
      • Capital Markets
      • CDOs
      • CLOs
      • CMBs
      • Corporate Bonds
      • Commodities
      • Complex Products
      • Corporate Debt
      • Distressed Securities
      • Employment
      • Employee Stock Ownership Plan (ESOP)
      • Equities
      • Equity Financing
      • ERISA
      • Fiduciary Investments
      • Financial & Asset Management
      • Financial Institution Sales
      • Fixed Income
      • Futures
      • Fraud
      • Hedge Funds
      • Industry Standards
      • Insider Trading
      • Institutional Trading Supervision
      • Investment Advisory
      • Investment Management
      • IPO
      • Market Evaluations
      • Margin
      • Market Manipulation
      • Money Laundering
      • Mortgages
      • Mortgage Backed Securities (MBS)
      • Mortgage Origination
      • Municipal Securities
      • Mutual Fund
      • Options
      • OTC Derivatives
      • Private Equity
      • Private Placements
      • Private Securities Transactions
      • Portfolio Management
      • Preferred Securities
      • REITS
      • Relationship
      • RIA Sales & Distribution
      • Selling Away
      • Sales Practice
      • Sales Process
      • Sales Supervision
      • Structured Products
      • Suitability
      • Supervision
      • Trading
      • Trusts
      • Trust Investments
      • Underwriting
      • Wrongful Termination
      • Regulatory & Internal Investigations
      • Data, Analyses & Analytics
      • Financial Crimes
  • Regulatory & Internal Investigations
    • U.S. & Global Regulatory Investigations
    • Internal Investigations
  • Data, Analyses & Analytics
    • Early case Assessment
    • P/(L) Analyses
    • Damage Assessment & Evaluation
    • Complex Trading Analyses
  • Financial Crimes
    • Internal Investigations
    • Economic And Other Damages
    • Fraud & Risk Management

Credentials

EXPERIENCE

ExpertSmith, LLC, Bozeman, MT, Founder & Expert Witness – Securities & Banking, 2015-Present

Citigroup, Chicago, IL, Managing Director, Head of Midwest Region Citi Private Bank, North American Leadership Team, 2010-2015

Barclays, Chicago, IL, Managing Director, Head of Midwest Region, 2008-2010

Lehman Brothers, Chicago, IL, Managing Director, Midwest Regional Manager, 1997-2008

Morgan Stanley, Chicago, IL, Principal, 1982-1997

Kidder, Peabody & Co., Chicago, IL, Registered Representative, Restricted Stock Specialist, 1979-1982

Merrill Lynch Pierce Fenner & Smith, Chicago, IL, Registered Representative, 1977-1979

Loewi & Co., Chicago, IL, Registered Representative, 1976-1977

E.F. Hutton, Chicago, IL, Runner, Phone Clerk, Trade Checker, Floor Broker - Chicago Board Options Exchange, 1975-1976

EDUCATION

Rockford College, Rockford, IL, BA, Economics, 1971-1975

PROFESSIONAL LICENSES & CREDENTIALS

Series 8, 23 // 3, 5, 7, 15 // 63, 65 (formerly held)

NFA and FINRA Arbitrator