Yesterday I announced my purchase of FinTuition, the leading provider of training for the securities finance and alternative investment industries. FinTuition was founded in the mid-90's by Alison Brooks who was the first person to really focus on providing specialist training in this area. Alison authored a ground-breaking series of books covering the securities lending business from a number of different angles. Today Alison is enjoying life in Beirut where education and communication remains an important focus for her efforts. Alison gave me good advice and recommendations during the course of the due diligence process.
A few years ago Walter Kraushaar bought the company from Alison. With the enthusiasm and drive that is familiar to anyone who knows Walter, he developed the business even further. Fortunately (for me), Walter was also enticed to return to the banking side of the business and was brought in by DEKA Bank to develop and lead their liquidity financing business. The DEKA opportunity was very much like the proposition I had when joining Rabobank many years ago, and I know both the attraction and the amount of effort that needs to go into making the business a success. As a result, Walter was not able to continue to give FinTuition the attention he would have liked to.
For me there are a number of drivers in buying the company. First, I fervently believe that better communication, information and knowledge are required to take the industry forward. Second, the quality of the FinTuition courses, training faculty and FinTuition staff is very high. Finally , there is considerable crossover between training and consulting assignments, and one can often lead to another.
I am interested in your thoughts and views on courses and other ideas that you would like to see developed. After all, training is only useful if it has a practical application in the day to day business. Only you can decide what is needed. I've got some ideas myself, but I invite you to send your suggestions and comments at roy@stocklendingtoday.com.
