Craig Schiffer
Craig Schiffer | |
|---|---|
| Born | August 25, 1956 |
| Died | December 23, 2014 (aged 58) Near Grenoble, France |
| Occupation(s) | Banker, financial executive |
| Known for | CEO for the Americas region at Dresdner Kleinwort; founder of Sevara Partners LLC |
Craig Schiffer (August 25, 1956 – December 23, 2014) served as the chief executive officer for the Americas region at Dresdner Kleinwort, headquartered in New York, from 2003 until 2006. Following the 2009 integration of Dresdner Kleinwort into Commerzbank, the Dresdner Kleinwort brand was retired, although legal challenges regarding bonus compensations continued. In February 2009, Schiffer established Sevara Partners LLC, a specialized financial advisory firm located in New York City that catered to clients throughout the United States and Europe.
Career
In 2001, Schiffer joined Dresdner Kleinwort in London as managing director and executive committee member responsible for Global Debt. Shortly thereafter, he relocated to New York to assume the role of Head of Capital Markets for North America, ascending to CEO by early 2003. During his tenure, he successfully reversed the fortunes of the New York and Latin American divisions, shifting from a loss of $300 million in 2002 to generating nearly $300 million in net operating profit on revenues of $600 million by 2006. Additionally, he oversaw Dresdner’s Institutional Restructuring Unit in North America, managing a portfolio valued at $9 billion often referred to as a “bad bank.”
Prior to his time at Dresdner Kleinwort, Schiffer led Nomura International’s European Fixed Income Division, where he was responsible for capital markets and derivatives operations. Under his leadership, Nomura achieved its inaugural bottom-line profitability during the fiscal year 1999–2000. He joined Nomura in August 1997 and initially focused on restructuring its U.S. derivatives business by enhancing risk controls and driving profitability. Subsequently, he expanded Nomura’s proprietary trading activities across Europe and participated on the European Management Board, influencing strategic direction and operational decisions.
Before Nomura, Schiffer dedicated over eighteen years to Lehman Brothers, holding multiple leadership positions within both Fixed Income and Equities divisions. As Global Head of Equity Derivatives, he concentrated on business expansion; earlier, from 1992 to 1994 as Global Head of Fixed Income Derivatives, he transformed the division from a marginal revenue contributor into one of Lehman Brothers’ most lucrative units.
Death
On December 23, 2014, Schiffer tragically lost his life in an avalanche while skiing near Grenoble, France.