10 G Street NE Suite 800Washington, DC 20002
http://www.wri.org
Mr. Thomson is an accomplished operating executive, serving as Citigroup CFO for 5 years and as CEO of Citigroup’s $10 Billion (revenues) Global Wealth Management division. Mr. Thomson also is a leading global practitioner and advisor on M & A and business strategy, having led the acquisition and strategy efforts over many years for Citigroup and GE Capital, as well as serving as advisor to dozens of Fortune 500 and smaller companies while at Bain & Co., Booz Allen Hamilton, and Barents Group.
Presently, Mr. Thomson is CEO of Headwaters Capital, a strategy advisory and private investing firm. Headwaters Capital serves as a strategy advisor to several firms. In addition, the firm recently structured and co-led the $155 Million recapitalization of West Coast Bancorp (WCBO), which closed in November 2009. HWC also is a founder/investor in Cordia Bank, which completed an acquisition of a majority interest in Bank of Virginia on December 10, 2010.
From 1998 through 2007, Mr. Thomson served in top management positions at Citigroup, including CFO of the company and CEO of the Global Wealth Management division. Throughout his 9-year tenure at Citigroup, Mr. Thomson served as a member of the most senior operating committees of the firm, the Citigroup Business Heads and Management Committees. He also was Vice-Chairman and a Director of Citibank, N.A.
From 2004 through 2007, Mr. Thomson was Chairman and Chief Executive Officer of Citigroup Global Wealth Management, comprised of The Citigroup Private Bank, Citigroup Investment Research and Smith Barney. Citigroup Global Wealth Management ranked as one of the largest wealth management businesses in the world with $1.4 trillion in client assets. Citigroup Investment Research was one of the leading research firms on Wall Street with more than 300 research analysts and strategists covering nearly 3,000 stocks globally. During Mr. Thomson’s leadership, he turned around a business that had flat income performance for 5 years to one that in 2006 increased revenues 17% to $10.2B and increased net income 34% to $1.67B, while investing to expand in India, Brazil, UK, China and building out advisory, trust and lending capabilities. Mr. Thomson led the successful acquisition and integration of Legg Mason’s retail brokerage business, achieving net income accretion during the first year, and the acquisition of Quilter in the UK.
From 2000 through 2004, Mr. Thomson was Chief Financial Officer and Head of Operations, Technology and Strategy for Citigroup. In this position, he led the corporate and business unit strategy efforts for the firm and built one of the leading global finance organizations. Mr. Thomson oversaw Financial Reporting, Treasury, Tax, Investor Relations, Operations & Technology, M&A and Strategy. While CFO, Mr. Thomson also established and oversaw Citigroup Alternative Investments, with approximately $15 Billion in proprietary and client capital invested in Private Equity, Hedge Funds, Credit Structures and Real Estate. During his tenure as CFO, Citigroup’s annual after-tax earnings exceeded $15 Billion and the company’s market capitalization exceeded $250 Billion.
From 1998 to early 2000, Mr. Thomson served as Chief Executive Officer of Citigroup’s Global Private Bank and, previously, Senior Vice President, Strategy and Business Development for Citigroup. As SVP Strategy and Business Development, Mr. Thomson developed and presented to the Board the initial Citigroup corporate strategy upon the company’s creation in 1998, and developed the business unit strategic planning processes for the company.
Prior to joining Citigroup in 1998, Mr. Thomson was EVP Acquisitions and Strategy at GE Capital. Reporting to the CEO, he led the strategy and strategic planning process of GE Capital as well as the company’s extensive acquisition efforts. Mr. Thomson was selected to attend GE’s elite Executive Development Course.
From 1991-1996, Mr. Thomson was Managing Director and Partner of Barents Group, LLC, an operating subsidiary of KPMG, specializing in M&A, Privatizations, Strategic Advice, Financial Services Consulting and Econometrics. He founded and led the Merchant Banking Practice, creating a business with a focus on Privatizations, M&A and Strategy Consulting Services. Over 4 ½ years, Mr. Thomson built the business to more than 100 professionals in 12 offices around the world. He advised on the first privatizations in Kazakhstan, Uzbekistan, Lithuania, Bulgaria and Vietnam while also advising on transactions in Poland, Russia, Estonia, Czech Republic, Slovakia, Albania, Kyrgyzstan, and Panama.
From 1987 until 1991, Mr. Thomson was Consultant and Manager at Bain & Co. While at Bain, he led more than 25 assignments for more than 15 companies, including manufacturing strategies for Chrysler Corporation, operations strategies for Sara Lee, competitive analysis for Anheuser Busch, capital management strategies for General Dynamics, marketing strategy for Russell Athletic, and M&A strategies for Canadian Pacific. From 1983-1985 Mr. Thomson was a Consultant at Booz Allen & Hamilton, where he performed a number of assignments for the Department of Defense and the State Department.
Mr. Thomson serves as Chairman of the Board of Dynasty Financial Partners. He is also a member of the Board of the World Resources Institute, the Board of Trustees of Davidson College, as well as a member of the Economic Club of New York. He is Chairman of the Wharton Leadership Advisory Board.
Mr. Thomson received his M.B.A., with distinction, from the Wharton School of Business and his B.A. in Economics from Davidson College.