David Descalzi

President, Seabridge Investment Advisors

David Descalzi joined SeaBridge in 2003 after leaving Daiwa Securities where he was a Senior Vice President. Mr. Descalzi spent most of his professional career as an investment professional at Prudential. Most recently, through the winter of 2000, he was a Managing Director of Global Equities responsible for all Asia ex-Japan equity portfolios for the company. Additionally, he was co-manager of all Prudential institutional global and international equity portfolios as well as a number of mutual funds. Funds under his management totaled approximately $2 billion. During his tenure in the Global Equities group, Mr. Descalzi spent over three years in Hong Kong, returning to the United States at the end of 1997. Prior to his international assignment, Mr. Descalzi was a Senior Vice President in the Financial Restructuring Group, which he joined in 1991. His account and supervisory responsibilities involved distressed investments totaling over $1.2 billion. In this capacity, Mr. Descalzi led the restructuring efforts of investor groups outside the bankruptcy venue, headed creditor and equity committees inside bankruptcy, and became a board member of a number of mid-sized companies as part of the rehabilitation process. In 1988, Mr. Descalzi helped establish Prudential Asset Sales & Syndications, Inc. (PASS) as the primary private placement, asset sales organization within Prudential. Under his direction, the private placement secondary desk was created with the desk executing over $1 billion in sales during his tenure. He also initiated a program of forging strategic alliances with multi-national financial institutions that had the capital but lacked the expertise to enter the US private placement market. He developed and executed Prudential's first off balance sheet funding vehicle for private placements, primarily leases. In 1989 and 1990, while at PASS, he headed company-wide efforts to sell financial assets with a view toward tax minimization. Mr. Descalzi began his career with Prudential Investments as a utility analyst with Prudential Capital Corporation. Shortly thereafter, he was selected to be part of a strategic planning team whose work helped transform Prudential Capital from an asset-based finance company into a multi-line merchant bank. Mr. Descalzi graduated Summa Cum Laude from St. Peter's College and received a Masters Degree in Business Administration in Finance from New York University.