Harvey R. Miller Outstanding Achievement Award for Service to the Restructuring Industry
This year's annual Harvey R. Miller Award recipient is Edward I. Altman, Professor of Finance, Emeritus, New York University's Stern School of Business.
The award will be presented by last year's winner, Marc Lasry, CEO, Avenue Capital Group, and Prof. Altman's former student.
The award will be presented by last year's winner, Marc Lasry, CEO, Avenue Capital Group, and Prof. Altman's former student.
Edward I. Altman Max L. Heine Professor of Finance Emeritus at New York University, Stern School of Business and Director of the Credit and Fixed Income Research Program at the NYU Salomon Center Dr. Altman has an international reputation as an expert on corporate bankruptcy, high yield bonds, distressed debt and credit risk analysis. He was named Laureate 1984 by the Hautes Études Commerciales Foundation in Paris for his accumulated works on corporate distress prediction models and procedures for firm financial rehabilitation and awarded the Graham & Dodd Scroll for 1985 by the Financial Analysts Federation for his work on Default Rates and High Yield Corporate Debt. He was a Founding Executive Editor of the Journal of Banking & Finance and serves on the Editorial Board of several other Finance scholarly journals. Professor Altman was inducted into the Fixed Income Analysts Society Hall of Fame in 2001 and elected President of the Financial Management Association (2003) and a Fellow of the FMA in 2004, and was amongst the inaugural inductees into the Turnaround Management Association’s Hall of Fame in 2008. In 2005, Dr. Altman was named one of the “100 Most Influential People in Finance” by Treasury & Risk Management magazine and is frequently quoted in the popular press and on network TV. Dr. Altman has been an advisor to many financial institutions including Merrill Lynch, Salomon Brothers, Citigroup, Concordia Advisors, Investcorp, Paulson & Co., S&P Global Market Intelligence and the RiskMetrics Group, (MSCI, Inc.). He is currently (2018) Advisor to Golub Capital, Classis Capital (Italy) and Wiserfunding in London, and Clearing Bid, Inc. He serves on the Board of Franklin Mutual Series and Alternative Investments Funds. He is also Chairman of the Academic Advisory Council of the Turnaround Management Association. Dr. Altman was a Founding Trustee of the Museum of American Finance and was Chairman of the Board of the International Schools Orchestras of New York. |
Marc Lasry Chairman, Chief Executive Officer and Co-Founder of Avenue Capital Group Marc Lasry is the Chairman, Chief Executive Officer and Co-Founder of Avenue Capital Group, a global alternative investment manager focused on distressed and undervalued debt and equity opportunities in the U.S., Europe and Asia. In 1995, Mr. Lasry formed Avenue with his sister, Sonia Gardner, with less than $10 million in capital from friends and family. Today, Avenue is one of the largest distressed debt investors globally, managing assets of approximately $9.6 billion, with headquarters in New York City, and offices in London, Luxembourg, Madrid, Milan, and five offices throughout Asia. Mr. Lasry is known as a pioneer in distressed investing which has been the focus of his professional career for over 33 years. After law school, Mr. Lasry clerked for Edward Ryan, Chief Bankruptcy Judge for the Southern District of New York. He spent the following year practicing law at Angel & Frankel, which focused on bankruptcies. Mr. Lasry subsequently became the Director of the private debt department at R.D. Smith, the firm where he first became involved in “trade claims,” the market in purchasing and selling to investors the unsecured claims of vendors and other creditors against a debtor. In 1987, he moved to Cowen & Company where he was Co-Director of the bankruptcy and corporate reorganization department. It was at Cowen that he caught the attention of the Texas investor Robert Bass, who was a client of the firm. When he left Cowen, Mr. Lasry went to manage over $100 million for the Robert Bass Group, Inc., where he invested in bank debt, senior bonds, and trade claims. The Bass fund Mr. Lasry oversaw was called Amroc Investments, L.P., and, at the time, it stood as one of the largest distressed funds in the U.S. In 1990, he co-founded a boutique distressed brokerage firm, keeping the Amroc name and maintaining the affiliation with the Robert Bass Group. Mr. Lasry is currently a member of the Council on Foreign Relations, and he has served and will continue to serve on various other boards of advisors/directors of both for-profit and not-for-profit private and public companies. He is also co-owner of the Milwaukee Bucks NBA team. Mr. Lasry received a B.A. in History from Clark University (1981) and a J.D. from New York Law School (1984). |
Previous Recipients of the Harvey R. Miller Award
- 2001 Harvey Miller
- 2002 Steve Cooper, Zolfo Cooper
- 2003 Wilbur Ross, U.S. Secretary of Commerce
- 2004 Jay Alix, AlixPartners
- 2005 Arthur Newman, The Blackstone Group
- 2006 Tony Alvarez II, Alvarez & Marsal
- 2007 David Tepper, Appaloosa Management
- 2008 William C. Repko, Evercore Partners
- 2009 Al Koch, AlixPartners
- 2010 Barry Ridings, Lazard
- 2011 David Resnick, Rothschild
- 2012 Jay Goldin, Goldin Associates
- 2013 Marty Whitman, Third Avenue Management
- 2014 Jim Millstein, Millstein & Co.
- 2015 Ken Buckfire, Miller Buckfire & Co.
- 2016 Jack Butler, BirchLake Holdings
- 2017 Marc Lasry, Avenue Capital
