Team

Marwaan R. Karame
Stephen O'Byrne
Waseem Anwer

Team

Marwaan R. Karame

Marwaan Karame consults businesses in the areas of Value Based Management (VBM) and Mergers & Acquisitions (M&A). Previously, Mr. Karame worked in investment banking for Donaldson, Lufkin & Jenrette (DLJ) and Credit Suisse First Boston (CSFB) advising companies in the areas of M&A, Private Placement, Debt Financing, IPOs, and VBM.

Prior to DLJ and CSFB, he worked for Stern Stewart & Co., leading Fortune 500 companies to create sustainable gains to shareholder wealth by aligning the interests of management with shareholders. Through a customized financial management system, incentive compensation design, and value based finance-training curriculum, Mr. Karame assisted companies to adopt the concepts of Economic Value Added (EVA). These concepts were applied to various industries including Automotive, Food & Beverage, Healthcare, Industrial Manufacturing, and Oil Exploration and Production.

Preceding Stern Stewart, he managed Ivey Business Consulting Group, a boutique business-consulting firm that served small to middle market companies. Mr. Karame started his professional career working for one of the world’s top sales organizations, Xerox, where he managed executive relationships with Canada’s largest companies, selling Xerox’s high-end information technology and services.

Mr. Karame has been a keynote speaker for several Wall Street Research Analyst seminars and has conducted workshops for 1,000+ Fortune 500 executives, lecturing on the topics of VBM and M&A. Mr. Karame also authored:

EVA Can Do More Than Measure Performance, The Globe and Mail
Dream Big - 3 financial models for executives looking to become their own boss, American Executive
Leading a Value-Based Management Implementation, The Trusted Professional
Pure Performance, American Executive
Time to Sell, American Executive (co-authored)

Mr. Karame holds an MBA in finance from Richard Ivey School of Business and a B.Sc. in Mathematics and Economics from St. Lawrence University.

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Stephen O'Byrne

Stephen F. O'Byrne is the President of Shareholder Value Advisors. He has more than twenty years of experience as a consultant to companies on compensation, performance measurement and valuation issues. His publications include:

"Why Executive Pay Is Failing" in Harvard Business Review
EVA® and Value-Based Management with Professor S. David Young of INSEAD
"Does Value Based Management Discourage Investment in Intangibles?" in Value-Based Metrics, Frank J. Fabozzi Associates
"Executive Compensation" in the Handbook of Modern Finance
"EVA® and Market Value" in the Journal of Applied Corporate Finance
"Total Compensation Strategy" in the Journal of Applied Corporate Finance

Mr. O’Byrne has been an advisor to the Securities & Exchange Commission, the Financial Accounting Standards Board, Institutional Shareholder Services and CS First Boston Equity Research. He was previously Senior Vice President of Stern Stewart & Co. and Principal of Towers Perrin.

Mr. O’Byrne holds a B.A. degree in political science from the University of Chicago, an M.S. in Mathematics from Northwestern University and a J.D. from the University of Chicago. He is a certified public accountant, a member of the Illinois bar, a member of the New York Society of Security Analysts and a former Lecturer in Mathematics at Loyola University of Chicago.

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Waseem Anwer

Waseem Anwer is Managing Director of Chicago Capital Group, a New York based management consulting and corporate finance advisory firm. He advises companies on issues in finance, strategy and governance to enhance shareholder value.

Mr. Anwer has advised corporate clients on value-based management, performance measurement, valuations, capital structure, business planning, organization structure and executive compensation. He has worked with private and public companies with diverse business cultures in both developed and emerging economies in North and South America, and more recently in the Middle East. Mr. Anwer has also been a guest speaker at several universities.

Previously, Mr. Anwer was a Vice President with Stern Stewart & Co. in New York City. He was also with Hewlett-Packard Company in the United States for five years. Mr. Anwer holds an MBA, specializing in Analytical Finance, from the University of Chicago. He also earned an MS in Computer Engineering from Syracuse University. In addition, he holds a bachelor’s degree in Electrical Engineering.

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