Our People

Paula Burns is a Director in McLagan’s Chicago office. Ms. Burns has management responsibility for the Private Client Performance Monitor, a product line encompassing market share reports, branch profitability and retail broker performance analyses.

Ms. Burns joined McLagan in 1975 and during her tenure has designed and developed software for McLagan’s Institutional Performance Monitor, compensation surveys, and Private Client surveys. Current responsibilities include project management of the Private Client program, including oversight of client data collection and validation, report production, distribution and analysis, client relationship management, as well as administration of the Chicago office.

Prior to joining McLagan, Ms. Burns developed financial software, including brokerage back-office accounting applications and trading analyses, for Doyle O’Connor & Co., Mid-America Computer Corporation, and the Chicago Stock Exchange. Ms. Burns attended the University of Illinois at Chicago and was awarded an Illinois State Scholarship.

Todd Crowley is Head of Broker Productivity and Compensation and focuses on helping clients understand and manage the pay and performance equation for Financial Advisors. Mr. Crowley has twelve years of experience at McLagan in performance and compensation reporting and consulting in the Private Client arena.

Mr. Crowley’s areas of expertise include:

• Analyzing competitive pay practices and levels for Financial Advisors and Branch Managers, and assisting in the design of compensation plans for these populations.

• Benchmarking Financial Advisor performance, including broker productivity by years of experience, by local market, and by wealth segment.

• Benchmarking Financial Advisor recruitment compensation deal structures and levels, as well as the relative success of new recruits compared to past performance.

Mr. Crowley received both MBA and BS degrees from the University of Illinois.

Susan Lenox is Head of Equities Revenue Benchmarking in McLagan’s Chicago office. Ms. Lenox provides data management and consulting support services to over 75 investment management clients who participate in the firm’s Institutional Equity Performance Monitor Service (IEPMS) as well as internal consultants throughout the firm. The services include client data collection, validation, manipulation, analysis, and ultimately production and distribution of over 800 client reports each quarter. Ms. Lenox also handles the creation of “special data analysis reports” for the IEPMS client base as well. Additionally, Ms. Lenox coordinates the client billing and collection efforts for the IEPMS services.

Ms. Lenox has been with McLagan for 28 years and during this time has also provided extensive data management support for the compensation consulting programs within the firm. Ms. Lenox holds a Bachelor of Science degree in Business Administration from Illinois State University.

Richard Mlot joins us from the Capital Markets Company, where he was a Managing Principal within the Market Operations practice focusing on delivering infrastructure and strategic initiatives for asset management and global financial services firms. His projects have included multi-tiered assessment development and deployment initiatives within securities operations, retail and wholesale broker/dealer and banking, middle office, financial control, accounting and technology.

Prior to joining the Capital Markets Company, Richard held various management roles within Deutsche Bank/Bankers Trust Company, including leading the U.S. Global Asset Management Services Group. He also maintained key project roles in the planning, development and implementation of programs to manage operational risk and recovery as well as for several process-redesign initiatives that focused on creating new operations and reporting models.

Richard holds a Bachelor of Science in Business Management with a minor in Economics.

Adam Barnett is McLagan’s Head of Asset Management. Located in the firm’s Stamford office, Mr. Barnett provides total pay consulting services to investment management organizations, including advisory firms, mutual fund companies, banks, insurance companies, public funds, in-house managers, and hedge funds. Mr. Barnett’s areas of expertise include:

-Designing annual and long-term incentive plans and sales compensation programs

-Conducting sales and financial performance benchmarking studies

-Analyzing competitive pay practices and levels

-Providing counsel about pay and business trends to senior management teams and Boards of Directors.

Mr. Barnett also leads McLagan’s global compensation survey program for investment management organizations. Currently, this program covers investment management staff in 15 countries. In the US, over 300 investment management organizations participate in our surveys, including 49 of the top-50 asset management firms (per Pensions & Investments).

Mr. Barnett joined McLagan in 1994. Before that, he was a consultant in Towers Perrin’s executive compensation practice in New York, the controller of US Marathon Ltd, and a financial analyst at Chemical Bank.

Mr. Barnett received an MBA degree from New York University in 1988 and a BS degree from New York University in 1984.

M.A. in Economics, City University of New York; B.A. in Economics and Computer Science, University of Rochester.

Patrick Connell is Co-Head of McLagan’s Corporate and Consumer Banking Consulting Practice. Mr. Connell specializes in consulting to financial services clients including banks, capital markets institutions, financial advisory consulting firms, and government-sponsored enterprises (GSEs). Mr. Connell’s areas of expertise include:

• Advising clients on pay, productivity, staffing and expense control issues

• Designing compensation programs to support client business objectives

• Managing comprehensive compensation and benefits reviews

Mr. Connell joined McLagan in 1996 and has led engagements for major U.S. and foreign institutions, including Bank of America, CitiCards, Consumer Bankers Association, Credit Suisse, Deutsche Bank, Dexia Credit Local, Fannie Mae, Federal Farm Credit Funding Corp., Farm Credit Services of America, Federal Home Loan Bank System, Freddie Mac, Glitnir, Goldman Sachs, JP Morgan Chase, KPMG, Lehman Brothers, MBIA, Morgan Stanley, Nordea, US AgBank and Wachovia both in the U.S. and U.K.

Mr. Connell is a frequent speaker at industry association events sponsored by the Mortgage Banker’s Association, Foreign Bank Forum and Institute of International Bankers, where he is a member of the Professional Liaison Committee.

Mr. Connell received a BS in Industrial and Labor Relations from Cornell University and a MBA in Finance and Accounting from New York University’s Stern School of Business.

Brian Dresch is a Vice President in McLagan’s Global Investment Banking and Private Equity practices, leading these businesses including compensation, benchmarking, consulting, and performance studies. Prior to joining McLagan, Brian spent three years with Greenwich Associates as a Senior Research Associate. His various roles at Greenwich included sales, new business development, client strategy, project management and analysis across Fixed-Income, Equities, Investment Management and Investment Banking.

Mr. Dresch received a B.S. in Marketing from Fairfield University in 2000 and recently completed his MBA in Finance and International Business from the University of Connecticut.

Brian Dunn is the President of McLagan (a subsidiary of Aon Corporation). He is also the CEO of Global Compensation and Management Consulting for Aon Consulting Worldwide. He specializes in incentive and executive compensation and has advised a number of major U.S. and foreign institutions, including Ameriprise, American Capital, Bear Stearns, Blackstone, Citigroup, Deutsche Bank, Goldman Sachs, Legg Mason, National Bank of Canada and Regions Financial.

Prior to joining McLagan in 1998, Mr. Dunn spent 17 years with Towers Perrin in their New York and Hong Kong offices. At Towers Perrin, Mr. Dunn was one of the firm’s leading executive compensation consultants and advised numerous compensation committees. In addition, he was a member of the management committee of the Compensation and Human Resources line of business.

Mr. Dunn’s articles have been published in Benefits & Compensation Digest, Chief Executive, American Banker, Personnel, ABA Banking Journal, Bankers Magazine, Compensation Planning Journal, and AsiaBanking. He has spoken before the American Society of Personnel Administrators (ASPA), the Conference Board, the New York Chamber of Commerce, the Financial Sector Compensation Models Conference, the Overseas Business Council (Tokyo), the U.S. Chamber of Commerce (Hong Kong), the ABA Private Banking Symposium, and the Bank Marketing Association.

In 1977, Mr. Dunn received a B.S. degree, summa cum laude, from the New York State School of Industrial and Labor Relations at Cornell University and an M.B.A. with highest honors from the Cornell University Graduate School of Management in 1981. He is located in Stamford, CT.

Ephraim Edelman is a Vice President on the Banking/Capital Markets team. Currently, Mr. Edelman serves as the Global Head of Equities where he holds primary client relationship management responsibility for some of the largest European banks. Mr. Edelman recently returned from assignment in London, where he managed the Institutional Equities Compensation studies for Europe, as well as the German compensation survey program. Prior to his assignment in London, Mr. Edelman ran the US Equities survey program. He has also led a variety of consulting projects, including productivity analysis for the Cash Equities business. Mr. Edelman has worked considerably with firms analyzing and designing equity deferral programs.

Prior to joining Mclagan in 2002, Mr. Edelman worked at CIBC World Markets as a compensation analyst, and at Pershing, a Division of Donaldson, Lufkin & Jenrette, serving in both the Human Resources and Internal Consulting departments.

Mr. Edelman holds a B.S. from Binghamton University and an M.B.A from Columbia University.

Linda Fagan is the Head of US Asset Management Studies. Ms. Fagan oversees the US compensation survey program for investment management organizations, including advisory firms, mutual fund companies, banks, insurance companies, public funds, and in-house managers.

Ms. Fagan also provides compensation consulting services to investment management organizations.

Ms. Fagan joined McLagan in 1985, working for four years as an Analyst covering the firm’s Capital Markets surveys. Following a two-year leave, when she worked as a product manager for Cole Surveys (a subsidiary of Watson Wyatt) in Boston, she re-joined the Firm in 1991 as the lead manager for McLagan’s Asset Management surveys.

Ms. Fagan received a BS degree from University of Delaware in 1982.

Blake Kerrick is the Head of Banking/Capital Markets at McLagan. In this role, Mr. Kerrick focuses on global compensation surveys and market practices for leading banks and securities firms, regional banks and broker-dealers, and commodity trading firms.

Prior to joining McLagan, Mr. Kerrick was a Vice President at Lehman Brothers. During his nine years at Lehman, his various roles included Fixed Income sales and client strategy. In his last role, Mr. Kerrick worked with senior management in developing and implementing a Fixed Income account management strategy. Prior to joining Lehman Brothers, Mr. Kerrick worked for Greenwich Associates in their Fixed Income and Treasury practice.

Mr. Kerrick received a B.S. from LeMoyne College and is located in the Stamford, CT office.

Peter Keuls is the leader of McLagan’s private client performance and compensation consulting practice serving private banks, high net worth brokerage firms, private client investment managers and retail brokerage firms. In addition, he leads McLagan’s Institutional Equities Performance Monitor business.

He has worked on compensation issues for a range of firms including JP Morgan Private Bank, Citigroup Private Bank, Bank of America, Wachovia Securities, Wachovia Wealth Management, Lloyds Private Bank, Deutsche Bank Private Wealth Management, Banco Santander, Fidelity Investments, Charles Schwab, Merrill Lynch, Morgan Stanley, UBS Financial, and PNC Bank.

Peter has extensive experience with commission and performance-based compensation plans for private bankers as well as for brokers at independent brokerage firms and bank brokerage firms.

Peter Keuls came to McLagan from Merrill Lynch where he was the Director of Marketing Strategy and Planning in the International Private Client Group. His responsibilities included market planning, new product development, pricing and compensation analysis.

Peter Keuls has seven years of experience as a strategy consultant with Gemini Consulting's Financial Services practice where he advised banks globally on strategy and growth issues. He is also the author of the World Wealth Report. Prior to Gemini Consulting, Peter Keuls was a member of Salomon Brothers’ Financial Institutions M&A team in New York and London. He has an MBA from INSEAD in France and a Bachelor of Commerce from Queen's University in Canada.

B.S. in Finance, City University of New York. Lehman Brothers.

Chris Murphy is a Vice President at McLagan. Mr. Murphy manages McLagan’s compensation survey program for plan sponsors (both public and private organizations), endowments and foundations. In addition, Mr. Murphy provides compensation consulting services to plan sponsor, endowment, foundation and private sector investment management firms. Mr. Murphy has led or been instrumental in completing several consulting assignments for plan sponsors, endowments and foundations since joining McLagan in July 2005. Prior to joining McLagan, Mr. Murphy spent 19 years in a variety of client service and business management roles at JP Morgan Chase (and predecessors) in New York, where his most recent position was Vice President and Chief Operating Officer, Global Investment Solutions, JP Morgan Private Bank.

Mr. Murphy received a BA degree in Economics from Fordham University in 1986 and an MBA in Marketing/Finance from New York University in 1994.

Rob Northway, Manager of the Mortgage Banking and Real Estate survey programs at McLagan, advises clients on the design of compensation programs that support business objectives and on market-share and performance issues. He heads McLagan’s annual Residential Mortgage Banking Compensation survey as well as the Commercial Real Estate Survey, sponsored by the Mortgage Bankers Association (MBA). Mr. Northway specializes in consulting to those clients within the mortgage and commercial real estate industry.

Mr. Northway is a member of the Mortgage Bankers Association (MBA) and has presented at the Annual MBA Accounting, Tax and Financial Analysis Conference, and the American Credit Union Mortgage Association annual conference.

Mr. Northway received a B.A. in History from the State University of New York at Albany. Prior to joining McLagan, Rob worked at Towers Perrin, Hewitt Associates Inc, and Principal Financial Group. He is located in the Stamford, CT office.

Tony O’Shea is a Vice President on the Asset Management team. Mr. O’Shea specializes in incentive compensation within both the asset management and insurance industries, and has completed a large number of studies related to sales incentive practices. Currently, Mr. O’Shea oversees a variety of compensation surveys including the Investment Product Sales & Marketing Survey, the Insurance Product Sales & Marketing Survey, the Insurance Brokerage Survey and the Canadian Investment Management Survey.

Prior to joining McLagan in 1998, Mr. O’Shea had worked with The Evergreen Group and Optima Group providing consulting services related to the financial services industry.

Mr. O’Shea received a B.A. degree from Columbia College in 1987 and an M.B.A. degree from The Stern School of Business at New York University in 1993.

M.P.A., Cornell University; B.A. in Economics, SUNY Geneseo.

Warren Rosenstein is Head of Client Business Analysis at McLagan. Mr. Rosenstein works with clients to develop customized analysis strategy across compensation, staffing and productivity. He has designed solutions to a variety of client needs, including compensation plan design, organization structure and salary strategies.

Prior to joining McLagan, Mr. Rosenstein was a Vice President at Deutsche Bank, where, in addition to evaluating and implementing a variety of compensation plans and salary programs, he developed an industry-best model for measuring “value to employee” derived from deferral programs across the industry. Prior to that, Mr. Rosenstein spent four years in Compensation at Merrill Lynch.

At McLagan, Mr. Rosenstein leads the design and reporting platform for a variety of products. He is primarily responsible for products in the Capital Markets group, but leads best practices initiatives on a firm-wide basis.

Carter Sherwood, is Vice President of McLagan’s Consumer Banking Practice and is responsible for managing compensation and performance benchmarking studies and consulting projects. Mr. Sherwood led the launch of comprehensive global survey programs covering the Credit Card Industry, Retail Banking, and Consumer and Small Business Banking. Mr. Sherwood also specializes in consulting and advising clients within the consumer and small business banking industry on compensation program design and industry trends.

Prior to joining McLagan in 2004, Mr. Sherwood spent six years with InSearch Worldwide, a premier recruitment and human resources consulting firm, specializing in onsite cross-functional staffing engagements throughout the financial services industry.

Mr. Smith is Head of Equities Performance Management for McLagan. In this role, Mr. Smith leads the global suite of surveys covering broker performance benchmarking within the institutional equities business. Mr. Smith has over 10 years of service with McLagan, focused primarily on managing the firm’s widely-used performance/market share survey in the institutional equities business.

Mr. Smith works with managers in institutional equities (sales, trading and research) at all of the firm’s major global and regional clients to provide performance survey products and related consulting.

Mr. Smith received a BA from the College of William & Mary and an MBA from the Kelley School of Business at Indiana University.

Chris Tanana is a Vice President at McLagan. Mr. Tanana manages the Canadian Banking and Capital Market Studies and holds primary client relationship management responsibility for all of the large Canadian Financial Institutions. Mr. Tanana also manages McLagan’s Board Flash and Staffing Benchmark products, global compensation and headcount analyses for large Investment Banks.

Mr. Tanana holds a B.A. in Economics from Bucknell University.

Doris Van Beck is Global Head of Banking/Capital Markets. Ms. Van Beck focuses on global compensation surveys, market practice studies and incentive plan design for leading banks and securities firms. Ms. Van Beck’s areas of expertise include:

• Conducting business and compensation consulting projects, including investment banking productivity analyses

• Designing incentive plans (including long-term incentive plans)

• Analyzing competitive pay practices and levels

• Conducting global staffing analyses

Ms. Van Beck joined McLagan in 1987 after receiving a BA in Economics from the University of Connecticut.

Glen Vilim is Senior Consultant and Manager of several businesses at McLagan. Mr. Vilim leads these practices including traditional compensation and market share studies, as well as new initiatives in the areas of productivity analysis, expense benchmarking, and staffing and efficiency studies.

Prior to joining McLagan in 2004, Mr. Vilim spent fifteen years at Merrill Lynch. There, he served in both front office and back office roles. He had responsibilities in the areas of investment banking, fixed income, and asset management and held chief operating officer and head of strategy positions. Immediately prior to joining McLagan, Mr. Vilim built a start-up credit arbitrage vehicle.

Mr. Vilim received a B.A. degree from Gettysburg College and an M.B.A. from Columbia Business School. He is located in the Stamford, CT office.