Keith M. Northern to Lead Qorval Lender Services – NortheastSeptember 8, 2011
With expertise in the operational and financial restructuring and turnaround of troubled companies (with extensive experience in automotive, natural resources, and financial institutions), Keith M. Northern leads Qorval’s Lender Services, N.E. He brings nearly three decades of success in key turnaround disciplines as an advisor and consultant to management and lenders.
Mr. Northern has acted on behalf of Lenders in a variety of businesses including: financial institutions, various automotive entities, security, plywood and paneling manufacturer, metal fabrication, jewelry, maritime, hotel & restaurant, golf, and homebuilders among others.
- Managing Director for NHB Advisors, Inc. (formerly NachmanHaysBrownstein, Inc.). Planned, staffed and led turnaround projects for a multitude of clients in several different industries.
- Director/Senior Vice-President of Wachovia, Philadelphia
- One of Twelve “People To Watch – Business Professionals Making Their Mark in 2010”, Turnarounds and Workouts, March 2010.
- University of Maryland (Baltimore campus), Economics.
Hired by Lender to monitor and procure refinancing of a $50 million security firm in Northern Virginia as they operated their business and attempted to move the credit facilities to another bank. Responsibilities included monitoring cash flow, budget compliance and assisting borrower in obtaining replacement financing within a 75 day timeframe – all of which was accomplished with the Lender being paid in full.
Engaged by Lender to review books, records and operations of six related automotive dealerships (Chrysler/Jeep/Dodge/Kia) operating in multiple states. Appointed by State Court as receiver.
Hired by Philadelphia bank to develop a three – year strategic plan, evaluate ten largest troubled loans and develop multiple exit plans, and evaluate and re-write ALLL policy.
As senior vice president and later director of Wachovia in Philadelphia, Pennsylvania, managed $150 million portfolio of troubled syndicated transactions where bank was either Agent or Participant. During the first 18 months, resolved $110 million of portfolio through sale, restructure or collection. Also acted as Senior Credit Officer for portfolio consisting of $1.2 billion in commitments and $600 million in outstandings as direct lender, lead arranger and/or syndicate participant in deals involving multiple capital structures.