OUR TEAM

Granville A. Ungerleider, Managing Member, Whitemarsh Capital LLC *

 

Granville  A Ungerleider has over thirty years of investment banking and strategic  advisory experience.  He has initiated, led and implemented a broad  array of initiatives with an emphasis on financial restructurings,  mergers & acquisitions, divestitures, private equity investments and  public offerings of equity & debt securities including taxable and  tax-exempt financings. He has successfully orchestrated equity and debt  offering in trying economic environments across a diverse set of  industry sectors and geographic.


Mr. Ungerleider is the  President, Managing Member, and Member of the Executive Committee of  Ellington Healthcare Asset Management LLC, the manager of Ellington  Healthcare Partners I, L.P., a venture capital fund that specializes in  early-stage investments in BioPharma. In addition, he is also a Managing  Member of NSIP LLC the General Partner of Ellington Healthcare Partners  I, L.P. 


Mr. Ungerleider successfully organized investors and  operators into a joint partnership that was the successful bidder for  twelve Broadcast Television Stations from a bankrupt estate. He designs  and structures municipal finance programs domestically and  internationally, including the first private/ municipal joint ventures  for the construction of parking garages in Russia. Mr. Ungerleider  advised an insurance holding company client on strategies leading to  successful acquisitions and arranged equity infusions required to  consummate the transactions.


He  was an early pioneer in the use of rated debt in Real Estate Finance,  and the principal developer of highly successful municipal leasing and  parking garage finance programs, higher education finance initiatives,  mortgage-backed bond issues, the original community cable partnerships  which became the foundation of Comcast, and the successful public  offering of the first two casinos in Atlantic City.

  

Mr. Ungerleider holds FINRA series 24, 7, 53, 63, 79 and 99 licenses.  

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Dr. David Gilbert, Senior Managing Director, Whitemarsh Capital LLC

 

David  Gilbert, Ph.D., has had a long and distinguished career as an  entrepreneur, Chief Executive Officer, venture capitalist, and corporate  director. Dr. Gilbert is also a Managing Member of NSIP LLC, and a  Managing Member and Vice Chairman of the Executive Committee of  Ellington Healthcare Asset Management LLC.


Most recently, he has  served as the CEO and Executive Chairman of Mantara Inc. a  venture-backed company. At Mantara, Dr. Gilbert led the development and  commercialization of an extremely high-speed multi-asset trading system  for trade execution on financial exchanges and electronic clearing  networks. Thru his efforts, the Company has received substantial support  from the venture community and includes UBS as a strategic investor.


Prior  to the founding of Mantara, Dr. Gilbert was a Board Member of Clayton  Holdings Inc. (NASDAQ – CLAY) and a Managing Director of DG Holdings  LLC.  As a Member of the Board of Clayton, he was also Chairman of the  Compensation Committee. Clayton was sold in 2008. DG Holdings provided  high impact consulting services to participants in the financial  services industry. Major clients of DG holdings included the Standard  and Poors’ Risk Solutions Division and Open Link Financial. He  was the Chairman and CEO of ERisk, a leading provider of enterprise  risk management solutions which was acquired by SunGard in November of  2005 for a substantial premium. 


Dr.  Gilbert was brought in by an investment syndicate to be the Executive  Chairman of the Board of California Federal Bank, a $21 billion troubled  California NYSE listed bank. As the Executive Chairman, he completely  reorganized and rehabilitated the bank. Dr. Gilbert  successfully negotiated the sale of the bank for $1.4 Billion. The sale  produced a significant return to the investors.


Dr. Gilbert was  the President & CEO of C*ATS SOFTWARE, a Nasdaq listed company which  was a leading provider FINTECH.  Dr. Gilbert negotiated the sale of the  company to Misys Plc at a 60% premium over the company’s trading  range. 


He  received his BBA from City College in New York and his M.S. and Ph.D.  degrees in Economics and Finance from Harvard University.

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Dr. Gerald J. Elfenbein, Chairman of the Science Advisory Committee, Whitemarsh Capital LLC

 Over a 35-year career, Dr. Gerald J.  Elfenbein has become one of the leading international researchers in the  fields of oncology, immunology and stem cell transplantation. Most  recently, he has served as Professor of Medicine at Boston University  School of Medicine in Massachusetts, Director of the Roger Williams  Cancer Center (Providence, RI) and as the Director of the Blood and  Marrow Transplant Program at Roger Williams.


During his  distinguished career, Dr. Elfenbein has served in positions with several  prestigious national institutions. At the H. Lee Moffitt Cancer Center  and Research Institute in Tampa, FL, he was the Director of the Bone  Marrow Transplant Program and Chief of its Bone Marrow Transplant  Service. Concurrently with his service with the Moffitt Center, he was a  Professor of Internal Medicine and Director, Division of Bone Marrow  Transplantation, at the University of South Florida College of Medicine.


Dr. Elfenbein’s  research and practice have focused on adult and pediatric blood and  marrow autologous and allogeneic stem cell transplantation. His research  also included work in the areas of leukemias, lymphomas, myeloma and  breast cancer. He has authored or co-authored over 150 articles for such  prestigious publications as The New England Journal of Medicine,  the Journal of Clinical Oncology, The Journal of Immunology, The Journal  of Experimental Medicine, Blood, the Journal of Radiation Oncology,  the American Journal of Pediatric Oncology. In addition, Dr. Elfenbein  has authored or co-authored over 50 monographs or book sections in  scholarly publications.


Dr. Elfenbein has been honored by such  organizations the American Society of Clinical Oncology, the American  College of Physicians, the International Who’s Who of Medicine, the  American Board of Internal Medicine, the European Group for Blood and  Marrow Transplantation, the Guide to America’s Top Oncologists and the  International Society for Experimental Hematology.


Dr. Elfenbein  graduated summa cum laude from Harvard College and received his M.D.  from the Johns Hopkins University’s School of Medicine. During the  Vietnam War, he was a surgeon in the U.S. Public Health Service and a  Research Associate with the National Institute of Allergy and Infectious  Diseases at the National Institutes of Health (Bethesda, MD).  

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Dr. Anthony J. Tether, Senior Managing Director, Whitemarsh Capital LLC

 Dr. Anthony J. Tether was Director of  the Defense Advanced Research Projects Agency (DARPA) from 2001 to his  retirement in 2009.  DARPA is the principal Agency within the Department  of Defense for research, development, and demonstration of concepts,  devices, and systems that provide highly advanced new technology  capabilities.  As Director, Dr. Tether was responsible for management of  the Agency's projects for high-payoff, innovative research, and  development. During his tenure, DARPA made grants of close to $25  billion.


Dr. Tether was the Founder of The Sequoia Group (TSG),  which serves government and industrial clients. The Sequoia Group  provides program management and strategy development services to  government and industry. He is on several Advisory and Corporate Boards  and is a Distinguished Fellow with the Council on Competitiveness  located in Washington DC.


He was Vice President of Science  Applications International Corporation's (SAIC) Advanced Technology  Sector, and then Vice President and General Manager for Range Systems at  SAIC.  Prior to this, he spent six years as Vice President for  Technology and Advanced Development at Ford Aerospace Corp., acquired by  Loral Corporation during that period. 


Dr. Tether held positions  in the Department of Defense, serving as Director of DARPA's Strategic  Technology Office, and as Director National Intelligence in the Office  of the Secretary of Defense. He served as Vice President of Systems  Control Inc., a company he helped start after receiving his Ph.D., where  he applied estimation and control theory to military and commercial  problems with particular concentration on development and specification  of algorithms to perform real-time resource allocation and control.


Dr.  Tether has served on Army, Navy and Defense Science Boards, and on the  Office of National Drug Control Policy Research and Development  Committee. He is a Senior Life Member of the Institute of Electrical and  Electronics Engineers (IEEE).  The Director Central Intelligence Bill  Casey and the Secretary of Defense Casper Weinberger honored him with  the National Intelligence Medal and the Department of Defense Civilian  Meritorious Service Medal respectively.  Secretary of Defense Robert  Gates honored him with the Department of Defense Outstanding Public  Service Medal.


Dr. Tether received his Bachelor's of Electrical  Engineering from Rensselaer Polytechnic Institute and his Master of  Science and Ph.D. in Electrical Engineering from Stanford University. 

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Dr. Brian Glenville, Senior Science Advisor, Whitemarsh Capital LLC

 

Professor  Brian Glenville was the pioneer of beating heart surgery. His surgical  career was international, both extensively operating and lecturing  abroad as one of the pioneers of beating heart surgery and at one time  had built up amongst the world’s largest series of cases. He started his  business career by advising London City Financial institutions like  Morgan Grenfell and Deutsche Bank on trends in new drugs and specific  cardiovascular heart failure drugs in development. He became medical  director of Cardionetics Ltd. an EKG self-analysis consumer device  company at the behest of the Goldman family (Sage Software/ BATM  Advanced Communication). This company was successfully sold to a  privately held manufacturing company.


He served as the medical  director of UV-Science and Maximyo. These  two privately held companies develop and manufacture muscle stimulators  for both the medical and cosmetic areas. He provided an effective  interface between design and clinical use. IDr. Glenville was the  medical director of Discover Medical, a company that developed a unique  sleep apnoea mask. He ensured that the clinical trials were appropriate  for both commercial and clinical needs. In 2012, he became Chairman of  Azure PCR Ltd. a real-time PCR company. Azure PCR is a fast growing  company with heavily patent protected technology for the analysis phase  of in vitro diagnostics. 


Dr.  Glenville advised VC companies like Meditech Partners where he became a  venture partner assessing specific companies that were investment  targets. He was shown to have a good track record both positively in  recommendations and also companies where the advice was not to  proceed. Dr. Glenville was the keynote speaker at a UBS investment  conference in Tel Aviv where he spoke on how business plans may fail to  match reality. 


Professor  Glenville has an MD from London University, an honours BSc in  Immunology, a Master’s degree in Surgery and higher specialization  certification in cardiothoracic surgery both in the UK and in Israel. He  also served on “European Union Initiatives” advising on artificial  hearts, having performed the first successful bridge to transplant  artificial heart in the UK.   

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John Power, Senior Managing Director, Whitemarsh Capital LLC *

 John Power, is an experienced  financial executive who has been the Controller of an international  private bank, a Chief Financial Officer and Chief Administrative Officer  of major domestic financial institutions. In addition, he has organized  and lead the successful placement of several private placements of  equity. Mr. Power is currently a Senior Managing Director of Whitemarsh  Capital Advisors. In addition, he is the Chief Financial Officer of  Ellington Healthcare Asset Management LLC.


Mr. Power served as the  Chief Operating Officer and Chief Financial officer of Mantara, a  trading infrastructure company backed by several world-class venture  capital firms. At Mantra he established a broker/dealer subsidiary to  capture revenue opportunities for the firm and participated in the  negotiation and closing of several separate financing rounds.


Prior  to joining Mantara Mr. Power was a Principal and Chief Operating  Officer of Matrix USA, a broker/dealer. When the owners of the firm  decided to pursue other opportunities Mr. Power was able to wrap up the  affairs of the firm and return to the firm's shareholders virtually all  of their capital during a most trying time in the financial markets.


Before  Matrix, Mr. Power was President of Mellon Securities where he added $80  million in profits his first year at the firm. He took on the  previously unprofitable employee stock plan business and guided it to  profitability. When Mellon Financial, the parent of Mellon Securities,  was acquired he was responsible for successfully integrating the three  business units that he ran into the acquirer, the Bank of New York. 


Mr.  Power served as the Controller and Chief of Staff for Bank Julius Baer  North America. Mr. Power engineered the separation of the bank and  brokerage units from the investment advisory business, permitting the  sale of the brokerage and bank units to UBS.


Mr. Power is an  Adjunct Professor at Molloy College’s School of Business where he  teaches courses in quantitative analysis, managerial accounting, and  corporate finance. Additionally, he serves as an Associate Trustee for  Dowling College and is an active volunteer in the community serving as  an adult leader in the Boy Scouts of America. Mr. Power holds the series  7, 24, 63 and 99 securities licenses. 

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Seth Gilbert, Managing Director, Whitemarsh Capital LLC

 
Seth  Gilbert is a senior professional with more than fifteen years of  experience as an entrepreneur, an industry analyst, advisor, and  executive in technology and venture capital. 


Mr.  Gilbert first  honed his transactional experience on the deal teams of multiple venture  financings (buy and sell side), initial public offerings and mergers  and acquisitions at Wilson Sonsini Goodrich & Rosati.  The next  phase of his career was spent working in senior business development,  strategy and corporate development roles at startups including  401Konnect and Privada.  At Privada,  as Director of Business  Development, Mr. Gilbert was responsible for initiating key strategic  partnerships and also co-inventor of a credit card anti-fraud initiative  and strategy that became a principle part of the company's product  offerings.


After several years working in venture transactions  and startup operations, Mr. Gilbert made the natural migration to the  investor side of the marketplace.   He joined 3CV, a venture incubator  focused on commercializing technologies developed at universities and  major research facilities as a principal and Vice President of Business  Development. He was responsible for evaluating investment opportunities,  and providing consulting services (including financing strategy,  product development and go-to-market planning) for a wide range of  development-stage client companies.  


He launched Metue.com.   Metue, which was in name an acronym for Media Entertainment and  Technology User Experience  Mr. Gilbert grew Metue to reach several  hundred thousand unique visitors per month. The audience sampling  included regular repeat readers from Fortune 500 companies, global  investment banks, top tier venture capital funds, Hollywood studios ,  record labels, and significant international news publications. 


Mr.  Gilbert is an expert in digital media.  He is highly experienced in  transactional due diligence and deal structuring.  Mr. Gilbert  specializes in consumer-facing digital media and technology companies  and in bio-pharma.  He is a graduate of Emory University. 

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​Joseph Gonnelli, Senior Managing Director, Whitemarsh Capital LLC

 Joseph D. Gonnelli is recognized real  estate professional since 1980. He has extensive experienced in all  facets of real estate development and finance. As the President of  Rosewood Real Estate Enterprises, his developmental expertise won design  awards in New Jersey for a world-class medical office project for  Lourdes Health System a leading provider of medical services in New  Jersey.  This project developed on the site of a former supermarket that  was abandoned by its owners.  This property is now highest grossing  income generators for the System.


 Mr. Gonnelli as the Managing  Partner of several real estate development partnerships successfully  completed the following: designed, developed, financed, operated the  largest privately held public assembly facility in the Philadelphia  area, the South Jersey Expo Center;  acquired multiple office and  industrial parks during the FDIC auctions in the 1990s, including  several vacant office buildings and by executing an aggressive leasing  strategy resulting in full occupancy sold the portfolio to Brandywine  Realty Trust, resulting in a multi-million dollar profit for the  partners.


His additional accomplishments are developing and  building a suburban office project for Dun and Bradstreet Corporation,  completing it in less than eight months and obtaining preliminary and  obtaining final site plan approvals in one township meeting. Mr.  Gonnelli also assembled four different properties on two sides of a  divided highway from separate owners in which he successfully negotiated  appropriate easements and site control to establish a full traffic  light intersection for the assembled properties thereby enhancing the  value of all the acquired land.  He accomplished this in 18 months  without the use of straw parties and maintained the highest  confidentiality.


Mr. Gonnelli is noted for solving challenging  environmental issues. He successfully remediated a contaminated site  adjacent to sensitive residential sites, in less than 14 months,  obtaining unrestricted use permits from New Jersey Department of  Environmental Protection.


He earned a BS in Chemistry at St.  Joseph’s University and a MS in Pharmacology from the University of  Pennsylvania and simultaneously completed the executive real estate  program at the Wharton School. Mr. Gonnelli is licensed as a real estate  professional in Florida and holds two insurance licenses 

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Richard Y. Fu , Managing Director, Whitemarsh Capital LLC *

 Richard Y. Fu has fifteen years of  experience spanning two main industries, financial services and  gaming/entertainment. After graduating from York University, he began  his career with TD Waterhouse in Canada. Richard was responsible for the  Integration of Green Line Investor Services and led the group’s efforts  to develop both Brokerage and Asset Management businesses in the Asia  Pacific Region. In this capacity, Richard led TD Waterhouse’s efforts in  both corporate strategy and cross-border, multi-cultural marketing. In  1999, he transferred to the United States as a member of the Management  Committee responsible for the entire Asia Pacific division, leading TD  Waterhouse’s efforts across the brokerage spectrum from investment  banking to trading. He became a prominent figure in both Retail and  Institutional in the international Arena.


Mr. Fu joined E*Trade  Financial to lead development of its Asia Pacific division and advise on  strategic, acquisition, CRM, and new product development. During this  period, he acted as an investment banker to E*Trade, analyzing different  potential acquisitions. This experience enabled him to understand  banking not only from the investor side, via his TD Waterhouse  experience, but also from the client side. This unique dual perspective  allows Mr Fu to appreciate the often competing perspectives and bridge  the potential gaps and lead several successful equity transactions.


In  2005, Richard left the Brokerage industry to move to Harrah’s  Entertainment, Inc. (now Caesars Entertainment Corporation) as Senior  Corporate Director, responsible for the development and implementation  of Harrah’s comprehensive multicultural strategies, including VIP  strategy, capital investment, expansion, operational efficiently and  effectiveness, CRM, brand marketing, direct marketing, mass media,  public relation, market research. He engineered the initiative to  attract ethnic customer which then lead to the company’s overall revenue  doubled within the period. He has been recognized for his efforts as a  recipient of the award for National Asian Pacific American Corporate  Achievement. Richard has served as an advisor to Penn National Gaming  Inc. and to European and Asian gaming entities.


Mr. Fu also holds  the FINRA series 3, 7, 9, 10, 24, 79, & 63 licenses as well as many  Canadian Securities Institute credentials.
 

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Joseph M. Braunschek, Managing Director, Whitemarsh Capital LLC *

 

Joseph  M. Braunschek is a seasoned investment banking and finance company  professional, having evaluated and analyzed hundreds of companies and  financed well over $1 billion of debt, including municipal issues,  hospital, and nursing home-related bonds, as well as direct real estate  and asset-backed loans to the senior housing industry.


Mr.  Braunschek began his career as a financial analyst with Van Kampen  Merritt.  In that capacity, he was responsible for modeling borrower  cash flows, sizing bond issues, and identifying potential candidates for  refinancing or restructuring.  Mr. Braunschek also analyzed industry  trends (particularly in hospitals and health care-related borrowers) and  was instrumental in the development of the Merritt System, a  computerized hospital analytical database which is still in use today.  Moving to McDonald and Company, Mr. Braunschek’s scope expanded to  include supervision of documentation and client contact, including  direct sales and marketing efforts.  These responsibilities increased  through his employment at William E. Simon and Sons Municipal Securities  Inc,  A.H. Williams & Co. and J.G. Wentworth Securities.


When  JG Wentworth was sold to DVI in 1997, Mr. Braunschek became a direct  lender to the long-term care industry, a position he has held through  his employment at a number of major credit companies, including GMAC  Commercial Mortgage (now Capmark), CIT Group and GMAC ResCap.  While at  GMAC Commercial, Mr. Braunschek helped manage a portfolio of over $1.5  billion of long-term care and seniors housing mortgage loans as well as  serving as interim chief credit officer for the Health Care division.   At CIT he helped develop the healthcare division into an industry  leader, serving as underwriter and portfolio manager on both the real  estate and receivable-backed sectors.


Through his career, Mr.  Braunschek has spoken at several industry conferences as well as serving  on the board of Good Neighbor Care, an Oregon-based senior housing  operator.  Mr. Braunschek graduated cum laude from Temple University  with a degree in business administration.  Also, he holds the FINRA  series  7, 79, & 63 licenses.

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Gerald “Gerry” Garcia, Managing Director and Head of Pension Fund Sales*

 Gerald “Gerry” Garcia is Whitemarsh  Capital Advisor’s Managing Director in charge of Pension Fund Sales and  Investor Relations.  Prior to Whitemarsh, Mr. Garcia was Chief of  Operations for the State of Connecticut Department Consumer Protection,  where he was appointed by Connecticut’s governor to be part of the  agency leadership team. Mr. Garcia worked previously at Lehman Brothers  in the firm’s Private Client Services group and worked subsequently at  two boutique firms raising equity for growth companies before his  gubernatorial appointment.


He served five years as a New Haven  City Councilman where he was a member of the Council’s finance and  community development committees and chaired its education committee.   Mr. Garcia volunteers as a Regional Governor for AEPi and as an advisor  to the Chapter at Yale University, which he helped to found.  He serves  on the board of the Connecticut Juvenile Diabetes Research Foundation  and the Jewish Federation for Greater New Haven.  In 2015 New Haven  Mayor Toni Harp appointed Mr. Garcia to her Taskforce on Community  Policing. 


Mr. Garcia holds BA and MBA degrees from Yale  University, and he also holds a series 7, 63, and 65 securities  licenses.  He lives in New Haven with his wife Magda and their son  Daniel.


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Dr. Kenneth E. Lehrer, Senior Economist, Whitemarsh Capital LLC

 Dr. Kenneth E. Lehrer has been an  Economic and Financial Services Consultant since 1980.  He holds four  (4) degrees from New YorkUniversity: Bachelor of Science (Finance),  Master of Business Administration (Banking), Master of Arts (Economics)  and a Doctorate in Urban Economics. After a career on the corporate  staff of Bankers Trust Company (New York), Dr. Lehrer became a Manager  for the Greek Shipper, Costas Lemos [dec'd].  Here, he assisted on  projects in New York, Houston, Denver, Guam and in Europe. 


Dr.  Lehrer is experienced in many areas of - Economics, Finance, Economic  Damage Analysis (including Business and Technology Losses), Banking,  Business, ESOP and Non-Public Business Valuations, Securities,  Healthcare, Fairness and Advisory Opinions, Intellectual Property  Valuations, Real Estate and Corporate Finance.  He has prepared  institutional economic / finance reports, feasibility analysis,  corporate business plans and provides litigation support (having been  qualified in both State and Federal Courts) in the areas of - economics,  real estate, banking, corporate and IP valuations, class actions, and  finance.  Dr. Lehrer served for approximately twenty years as an Adjunct  Professor of Finance at the University of Houston, Graduate School of  Business Administration and is presently an Adjunct Professor of Finance  and Economics at the University of Phoenix.  Dr. Lehrer is also a  speaker at business, economic and real estate seminars.


Dr.  Lehrer has served as Chairman of the Board of Directors for the Federal  Home Loan Bank of Dallas as agent for the Federal Savings and Loan  Insurance Corporation of - Acadia Savings and Loan Association, French  Market Homestead Savings, Twin City Savings, First Savings of  Louisiana. Presently, Dr. Lehrer is a Director of Aztec Oil and Gas, a  publicly traded corporation.On a professional basis, Dr. Lehrer is a  Texas State Certified General Real Estate Appraiser and is recognized by  the National Association of Real Estate Appraisers.  With his firm, he  is a member of - National Association of Business Economists, American  Academy of Economic and Financial Experts, American Law and Economics  Association, Houston Business Economists, National Forensic Center,  National Association of Forensic Economists, American Economic  Association, North American Economics and Finance Association, Southern  Economic Association, Western Economic Association and the Finance Club  and Money Marketeers, both affiliated with New York University. He is  listed in all editions of "Who's Who In America" since the 45th edition. 

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 * Affiliated with Whitemarsh Capital Advisors, LLC, Member FINRA/SIPC