Meeting credit unions where they are since 2017.
Since 1996, the NCUA has authorized Low-Income Credits Unions (LICUs) to raise uninsured secondary capital in the form of subordinated debt.
For a LICU, the capital counts directly towards the PCA Net Worth ratio, a powerful tool for credit unions to strengthen their institution in the face of adverse economic conditions and to invest in improvements to the member experience.
With the transition to the new subordinated debt regime, the universe of credit unions capable of raising subordinated debt has increased dramatically. No longer limited to just low-income designated credit unions, now Complex Credit Unions can raise following the approval of an application to the NCUA.
For complex credit unions, the subordinated debt counts towards their numerator in their Risk Based Capital ratio. For low-income credit unions the debt counts towards both their PCA and Risk Based Net Worth calculations.
Olden Lane’s industry-leading work in arranging credit union subordinated debt and its related strategic dialogue with credit union leaders positions the firm to provide insight and thought leadership to these markets.
While navigating the world of hedging can be daunting, Olden Lane’s multi-disciplinary team of experts is available to help. We have successfully implemented effective hedging programs for several clients since our effort began in this space a little over a year ago.
Subordinated debt can be a key tool towards pursuing bank acquisitions or supporting capital ratios during mergers with other credit unions.
Olden Lane has the experience and the modeling ability to layout an acquisition strategy and to assemble that strategy into a completed acquisition.
Many have asked about the origins of our firm’s name. Olden Lane is a small street in Princeton, New Jersey which comprised the majority of Albert Einstein’s daily stroll from his home on Mercer Street to the Institute of Advanced Study, where he served as a faculty member from 1933 until his death in 1955.
At Olden Lane, we are inspired by Einstein’s insatiable curiosity and his tireless spirit for inquiry. We hope to bring just a bit of that enthusiasm to the work we do for our credit union clients.
We are grounded in a culture of creativity, operational excellence, and dedication to our credit union clients. We work diligently to understand each client’s unique circumstances and offer individualized service. We can devise customized solutions across a range of funding, investment and capital needs utilizing a wide range of capital markets expertise.
A boutique firm with a national reach.
Raised for Credit Unions.
Experienced financial leaders.
As a boutique firm, we value each client and focus on nurturing relationships. We work every day to distinguish our firm by its delivery of compelling solutions and its superior service, consistently over time. Click on any of their pictures to learn more about our team.
Olden Lane Advisors, LLC (“Olden Lane”) provides financial services to credit unions throughout the United States including advising and assisting in the raising of subordinated debt (previously known as secondary capital) and M&A Advisory Services.
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Mike is a Partner of Olden Lane Inc. He oversees the firm’s operations, its financial models, and its Unit Investment Trust platform. Mike’s expertise is sought after by credit unions on issues ranging from balance sheet and funding strategies to risk-based capital, merger, and acquisition financing, and CFDI and LICU designation. His analysis and collaboration with credit unions has been foundational to some of the most significant funding and merger and acquisition activities in the credit union industry over the past several years.
Prior to founding Olden Lane, Mike was a Director at BlackRock, where he oversaw the establishment and maintenance of proprietary portfolios. He also served as Managing Director and Head of Unit Investment Trusts for Citigroup/Citi Smith Barney for more than ten years. In this role, he led strategic planning, operations, sales, marketing, investment management, and risk management for the organization’s Unit Investment Trust Department. Mike also coordinated UIT distribution through a global broker/dealer network. He was responsible for the underwriting and SEC registration of all UITs in compliance with the 1940 Act. Mike spent twenty years with Merrill Lynch, ultimately serving as Director and Head of Sales and Secondary Market, where he led the strategic planning, development, marketing, and sales throughout Merrill Lynch. Mike attended the State University of New York at Plattsburg, where he was an Economics major.
A trusted advisor to credit unions across the country, Mike is a seasoned transactional attorney and financial product structurer with significant experience in law and academia. As the CEO of Olden Lane Inc., Mike oversees the activities of the Firm’s broker dealer and registered investment advisor. Mike also coordinates the distribution efforts of Olden Lane’s subordinated debt transactions, having managed some of the industry’s largest and most complex deals over the last several years.
Prior to joining Olden Lane, Mike was a Managing Director for Product Development at Equinox Financial Solutions, where he designed and structured several first-of-their-kind products. Mike also served as a Distinguished Lecturer at City University of New York, with responsibilities at both the CUNY Law School and Queens College. Prior to his time as a professor, he was a Special Counsel at Cadwalader, representing broker-dealers, banks and large hedge funds and managing the registered shelf offerings of several large banks. Mike began his financial services career as a Vice President at Goldman Sachs & Co., where he traded equities, derivatives, and synthetics.
Mike earned his J.D. from New York University School of Law, his M.B.A. from Columbia Business School, and his A.B. from College of The Holy Cross. He has been an Adjunct Professor at Seton Hall Law School and St. Francis College, where he previously served as a member of the Board of Trustees. Mike speaks at credit union conferences and is a regular contributor to credit union trade journals. In addition, his academic writings have been published in some of the country’s leading legal and business journals, including the Cornell Journal of Law and Public Policy, University of Pennsylvania Law Review, University of Virginia Law and Business Review, and the Yale Journal on Regulation. Mike holds Series 3, 4, 7, 24, 52, 53 and 63 licenses.
Dan’s advice and counsel is sought after by many of the country’s leading credit unions. Dan is a transactional attorney with significant experience on a wide range of financial products and investment vehicles. He is deeply involved in Olden Lane’s subordinated debt efforts, overseeing the preparation of regulatory submissions for the Firm’s credit union clients. Dan manages many of the Firm’s external relationships and interactions with regulators. He is also responsible for several of Olden Lane’s new ventures, including ongoing efforts to provide credit unions with highly customized assets and selective Fintech solutions.
Prior to joining Olden Lane, Dan was the Associate General Counsel at the Equinox Financial Group in Princeton, New Jersey, where he provided the primary legal coverage for the firm’s registered investment adviser and affiliated broker dealer and oversaw the legal and compliance needs of mutual funds and commodity pools with assets over $1.7 billion.
Prior to joining Equinox, Dan was an associate in the world-renowned Structured Products and Derivatives Group at Cadwalader, Wickersham & Taft LLP, where he worked extensively with bank issuers of structured notes and drafted a wide variety of trading and financing related documentation.
Dan received his J.D. magna cum laude from Seton Hall Law School and his B.A. cum laude from the University of Maryland. He holds the Series 3 and 7 licenses.
Peter is a Partner of Olden Lane and has served as the firm’s Chief Compliance Officer since its inception. One of Olden Lane’s early investors is The LeoGroup, LLC, where Peter previously served as the Chief Operating Officer. Peter brings over 30 years of broad-based financial services experience managing many business aspects of both investment advisory and broker dealer firms. As CCO, Peter provides guidance to ensure proper operational and regulatory controls for the firm.
Prior to joining Olden Lane, Peter was the Chief Administrative and Compliance Officer for FCG Advisors, LLC and FCG Wealth Management, LLC. Peter also enjoyed 25 years managing multiple business lines for firms including Goldman Sachs, Charles Schwab and Spear, Leads & Kellogg.
Peter received a B.A. from Lehigh University and a Masters Certificate in Management from Tulane University’s A.B. Freeman School of Business. He also holds the Certified Securities Compliance Professional (CSCP) designation from the National Society of Compliance Professionals and the Certified Anti-Money Laundering Specialist (CAMS) from the Association of Certified Anti-Money Laundering Specialists. Peter holds Series 4, 7, 63, 24, 79 and 99 licenses.
The most recent member of the Olden Lane team, Eli has significant input on the design and refinement of our financial models. Additionally, as the youngest member of the Olden Lane team, he serves as de facto head of IT. He previously interned in various roles within the private equity and investment banking space, focusing on middle-market M&A transactions, both buy-side and sell-side.
Eli received a Bachelor of Science in Engineering from Princeton University where he graduated with honors with a degree in Operations Research and Financial Engineering and a minor in Finance. He performed his thesis work on the impact of quantitative easing on fixed income markets in 2020 and 2021. He holds the Series 79 license.
Larry is the Head of Fixed Income Trading at Olden Lane. Before joining Olden Lane, Larry was the Head of Trading at Arq Advisors, a boutique brokerage firm offering advisory, investment banking, capital raising, and securities trading services to institutional clients. Larry joined Arq from XP Investments, where he served as a Managing Director and Co-Head of the US Fixed Income and Asset Management Divisions.
Prior to his tenure at XP, Larry was a Co-Founding Principal and Portfolio Manager for STRM Capital Management, LLC, a commodity trading advisor. There, he served as Head of Trading and Lead Developer overseeing all front-office functions including execution, portfolio construction, platform optimization, and model design for a systematic managed futures fund. During his time at STRM Capital, Larry developed and executed a clear, disciplined, and sustainable investment process for the firm’s short-term multi-model systemic and blended portfolios. Between 2013-2018, his process produced returns of 109%.
Larry earned a Bachelor of Science degree in Biochemistry, with a special focus on genome mapping, from Syracuse University in 1994. He holds the Series 7, 63, and 3 designations.
David Greenberg is the Head of Advisory Services at Olden Lane. Before joining Olden Lane, David spearheaded the funding solutions practice at Lucid Management and Capital, an RIA providing short-term investment products and solutions to institutional clients. David joined Lucid from EA Markets, an independent investment bank, where he advised multiple clients on derivatives and risk management.
Prior to his tenure at EA, David was the founder and President of C-Suite Associates, a derivative and investment consulting firm. There, he provided hedging and related advisory services to specialty finance companies, major investment banks, and other institutions. David’s experience also includes senior roles at Pacific Global Advisors, Deutsche Bank Securities, JP Morgan and Barclays.
David received his MBA from Columbia Business School and his B.S. in Systems Engineering from the University of Virginia. David holds Series 3, 7, and 63 licenses.
The most recent member of the Olden Lane team, Eli has significant input on the design and refinement of our financial models. He previously interned in various roles within the private equity and investment banking space.
Eli received a Bachelor of Science in Engineering from Princeton University where he graduated cum laude with a degree in Operations Research and Financial Engineering and a minor in Finance. He holds the Series 79 license.