Description
To secure a position, either full-time, temporary, or on a consulting basis, which utilizes my broad range of experience in economic, political, financial and data analysis, and provides significant added value to the firm. COVER LETTER: To whom it may concern: I met Gary Evans during Mexico's sovereign debt restructuring, the first of the so-called Brady Plan restructurings that ultimately resulted in the resolution of the LDC debt crisis. Gary was charged with briefing me and my official sector colleagues on a creative, but highly complicated mechanism devised to enable creditors to recapture, in the future, a portion of their concessions to Mexico based on prospective increases in Mexico's oil export revenues. At the time, talks between the Mexican government and its creditors had reached an impasse, and policy makers at the highest levels of government on both sides were confounded in their efforts to deal with the massive amounts of data and sophisticated analytics being produced by economists and analysts to justify the various positions. Gary was able to cut through and distill these analytics into a one-page linear programming chart that proved to be the key to identifying the art of the possible and resolving the impasse. We have stayed in touch over the years through various crises, exchanging views, analysis, and forecasts. I have found Gary to be a clear-eyed, deeply analytical critical thinker and problem solver. He is unencumbered by orthodoxy or convention and has a sophisticated understanding of markets, economics, finance, financial services and human behavior. He is also an excellent writer and communicator. Sincerely, Terrence J. Checki Executive Vice President (ret.) To whom it may concern: I first met Gary Evans at Bank of America, where I worked with the Emerging Market Debt trading team and Gary, as an economist, worked with the team that was managing the bank's Emerging Market portfolio. Gary was a key member of the bank debt committees and was instrumental in structuring and negotiating most of the Brady Plan restructurings of the debt of countries such as Mexico, Argentina, Brazil and Poland. Eventually he joined the debt trading team, where his economic and market savvy reaped great profits for the bank. Over that time Gary and I became friends as well as colleagues and have remained so as Gary moved on to positions as an economist, strategist and trader at Kidder Peabody, ING Barings, UBS, Lehman, Moore Capital, and as an independent trader and market commentator as I worked in asset management, most recently as a Managing Director at BlackRock, Inc. I could not recommend Gary more highly for any position for which he is being considered. He is, simply put, the most brilliant real-world economist I have ever known, able to immediately grasp the practical and market implications of any political or economic situation. His knowledge, ability and perceptiveness extend beyond the financial world to almost any market or business situation imaginable, and he is one of the most dedicated and hardest workers I have ever known. Knowing Gary personally, I can also attest to his values and reputation, which are impeccable. If I can provide more information or help in any way, please do not hesitate to reach out to me at craig_blessing@yahoo.com Sincerely, Craig Blessing To whom it may concern, I met Gary Evans at Bank of America in San Francisco. I had joined the economics department that summer and my new colleague Gary was then hard at work in New York on the groundbreaking debt restructuring for Mexico the first under the Brady Plan. Gary was part of the Bank of America negotiating team working with two dozen other international banks. Gary was a young analyst but he was playing a central role as part of the BofA team and also as a member of the committee of banks negotiating with Mexico. His work on that transaction (as I came to learn later) was decisive to Mexico's successful issuance of Brady bonds and to formulation of the framework and the financial tools that became a template for the eighteen Brady restructurings that came after. Gary and I worked together on some of these later deals. Later still, we worked together at Kidder Peabody and recently on a number of research articles on the financial crises in Europe and the case of Greece. I would like to tell you about one project we worked on together that illustrates the extraordinary talent of my friend Gary: the Brady restructuring for Brazil. Brazil's was the largest Brady deal and the largest sovereign restructuring until Greece's in 2012. Brazil's negotiations began two years after Mexico's and faced many tough challenges. The biggest one was that the Brazilian government couldn't afford to buy enough collateral to issue all of the Brady bonds that banks wanted in the exchange. After four months of talks the bank committee was deadlocked on this. Some banks refused to consider any Brady deal until Brazil could put up all the collateral, and others wanted to let Brazil issue some Brady bonds and leave the rest of the debt in default until later. The Brazilian government was desperate to resolve its debt problem and saw a Mexico style Brady restructuring as a critical part of its effort to rein in hyperinflation but it looked as though it would be impossible. That was when the head of the BofA restructuring team asked Gary for help. Gary came up with an idea to allow Brazil to issue Brady bonds in the amount that it could afford, and to issue what he called "Phase-in Bonds" for the rest. The phase-in bonds would be callable by Brazil and would convert automatically to new Bradys once Brazil obtained the collateral. Bankers and the Brazil negotiating team immediately seized on the "phase-in" as a brilliant solution to the impasse that would allow Brazil to exchange its entire debt and end its default. The fix became legendary among the banks. If the talks were public instead of private everyone on Wall Street would have known Gary's name. Without Gary there simply would have been no Brazil Brady deal. He saved it single - handedly. I have known Gary for a long time and I could go on. I am privileged to recommend him to you. Gary is a rare talent. He is an extraordinary economist and keen observer of global financial markets. He is a perceptive and extremely innovative. He is a natural out-of-the-box thinker. Nowadays, his friends and readers of his blog benefit from his rare insights. He is always the brightest person in the room. He is 12 highly motivated and a hard worker. He sees patterns in markets that others cannot and he backs them up with painstaking, rigorous analysis. Just one more thing. On top of his exceptional talents as an analyst he is a great person. He is patient, kind and generous to his colleagues. He is one of the most empathetic people I know. I witnessed the great care, respect and patience with which he described his phase-in idea to reluctant elder bankers on the Brazil committee. This was how he was able to win them over and earn their trust. Don't get me wrong. Gary lives in the world of ideas and he is a tough negotiator. Anyone who sits across the table from him, and is not as well-prepared as he is, will have his head handed to him. But it's the ideas that matter to Gary. He is a team player, but it's something like having Michael Jordan on your team. Please do not hesitate to reach out to me at peterallen@vom.com if you have any questions or I might help you in any other way. Sincerely, Peter T. Allen
Work Experience
COMPANY | POSITION HELD | DATES WORKED |
---|---|---|
(Confidential) | Independent Economist And Securities Trader | / - Present |
(Confidential) | Global Emerging Market Strategist Global Emerging Market Strategist | / - Present |
(Confidential) | Portfolio Manager And Trader International Economist And Investment Banker Economist/Consultant | / - Present |
(Confidential) | Adjunct Professor | / - Present |
(Confidential) | Adjunct Professor | / - Present |
(Confidential) | Lecturer | / - Present |