Andrew J. Shaevel
Andy is an accomplished entrepreneur and corporate executive. Since graduating from Canisius College with a BS in Economics and an MBA with concentrations in Marketing and Finance, Andy has founded and led dozens of companies. Of these organizations, two were acquired by Fortune 500 companies and collectively had annual revenues in excess of $120 million and employed more than 1,300 associates.
Andy began his career as an Investment Banker and Strategic Planner with Marine Midland Bank - which is now a part of HSBC USA. During his time at Marine Midland, Andy was instrumental in developing and implementing the strategy to divest Marine Midland's industry leading "private label" automotive finance unit - Marine Midland Automotive Finance Corporation (MMAFC). MMAFC had assets in excess of $8 billion and was sold to Ford Motor Credit to create Primus Financial Services - the Ford unit responsible for financing non-Ford brand vehicles.
It was at Marine Midland that Andy met and first collaborated with Devon Cohen and Stuart Angert, where the team was collectively responsible for the wind-down of Marine Midland's residual automotive leasing portfolio. With Devon and Stuart, Andy developed an algorithmic model-driven approach to vehicle portfolio management, including vehicle disposition, logistics, and auction arbitrage that is still widely recognized as the foundation for modern-day automotive remarketing. With the support of angel investors, Andy and his partners went on to form Remarketing Services of America, Inc. (RSA) in 1991.
While RSA started as a vehicle management platform, its services evolved from auction arbitrage to high-touch consultative sales and servicing. RSA provided an extensive range of private labeled services that assisted client banks in managing existing asset portfolios to minimize losses, optimize yield, and leverage customer relationships to create new high performing assets. Andy pioneered the creation of RSA's Center for Advance Automotive Research (CAAR) which further positioned RSA as the "expert" service provider of vehicle management services and analytics.
In 1996, RSA was acquired by Debis Financial Services - now known as Daimler Financial Services - the diversified financial services arm of Daimler Benz. In 2001, after the Daimler merger with Chrysler, Andy facilitated a change in ownership to Fiserv, Inc. (NASDAQ:FISV) as its 100th acquisition. Under Fiserv's ownership, Andy further diversified RSA's business model to leverage other markets served by Fiserv, including the formation of RSA Mortgage Solutions, Inc. - Fiserv's private label, third-party mortgage originator. RSA Mortgage Solutions was one of the first 50-state licensed mortgage brokers and was chartered and regulated as a bank in New York State. In addition, Andy led and participated in the acquisition and integration of numerous add-on businesses. Today, RSA together with the other acquisitions are the foundation of what is known as Fiserv Lending Solutions.
From 1991 to 2007, Andy served as RSA's President and Chief Executive Officer, directing RSA through its various stages of development and various shareholder groups. Andy fostered the recruitment and retention of a very talented and cohesive management team that focused on deep strategic client relationships using creative and client-focused business models. Andy cultivated a corporate culture that focused RSA on achieving its strategic objectives and generating shareholder value, while creating an award winning associate value proposition that yielded low turn-over, high performance, and enabled the organization's reputation as "a great place to work".
While growing RSA, the RSA partners founded several other businesses. The largest of these ventures, Account Solutions Group, LLC (originally founded as Receivable Services of America, LLC and now known as FirstSource Advantage, LLC), was founded in 1995 in partnership with Tony Frisicaro, a seasoned collection industry executive. ASG was a specialty receivable management services company, and was an early contributor to and adopter of the COPC standards for receivable management service companies. ASG was acquired in 2004 by ICICI Once Source - known today as FirstSource - a BPO organization based on India.
In 2007, Andy founded Bobalew Ventures, where he provides strategic insights and capital to a number of start-up and growth oriented ventures. Bobalew has a host of portfolio companies, including:
Andy has received many awards and honors recognizing his personal and corporate achievements, as well as his civic and community involvement, including:
Andy is very active in both local and national philanthropic and civic organizations and serves as an Officer, Director and/or Trustee on various local and continental Boards.