Bruce Swain
EVP - Chief Financial Officer @Crawford & Company
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WORK HISTORY
EVP - Chief Financial Officer @Crawford & Company
Key member of the team evaluating, negotiating and subsequently integrating the $150 million acquisition of Broadspire Management Services in October 2006. Led the transition of Broadspire’s Plantation, Florida based finance and accounting function to Crawford’s Atlanta, Georgia shared services center resulting in annual cost savings of $4.5 million. Arranged and negotiated a $310 million syndicated credit facility including all subsequent amendments. Subsequently, led the successful renegotiation, extension and transition of the existing syndicated term loan to a five-year revolving credit facility which reduced the Company’s cost of borrowing by $4.7 million in the initial year. In connection with the Company’s syndicated credit facility, led the effort to obtain an initial credit ratings from Standard and Poor’s and Moody’s. Designed and implemented the Company’s strategy to reduce risk associated with defined benefit pension plans in the U.S. and U.K. that has successfully de-risked the Company’s pension obligations and reduced the underfunded position at the end of 2013 to the lowest level since 2007. Led the Company’s key strategic initiative to reduce its day sales outstanding providing a significant cash flow improvement to the Company. Operating cash flow increased approximately $100 million in the aggregate, providing liquidity to significantly de-leverage the balance sheet. Established an active investor relations program. Increased the Company’s sell side coverage to three analysts (from none) and raised the Company’s profile among public equity investors. Directed the implementation of tax strategies to reduce the Company’s effective tax rate and established a tax effective vehicle to repatriate international cash to the U.S. Established a share repurchase plan by analyzing the cost benefit of capital alternatives, modeling the intrinsic value of the Company’s equity, and working directly with the broker to enact the plan.
EDUCATION
University of Mississippi
Master of Arts (M.A.), Accounting
University of Mississippi
Bachelor of Arts (B.A.), Accounting
SKILLS
ABOUT BRUCE SWAIN
Active leader of global finance function comprised of tax compliance and planning…
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