Washington DC and Los Angeles, CA (November 29, 2010) – FOCUS LLC, a national middle market investment banking firm providing merger, acquisition, divestiture and corporate finance services, announces that Jerry Richards has joined FOCUS as a Senior Advisor in its Los Angeles, CA office. Mr. Richards is a seasoned financial executive with tremendous experience in the petroleum and banking industries.
According to Paul Richey, Managing Director, West, of FOCUS, “Jerry’s experience in the petroleum industry, as well as his work in the banking field, make him uniquely qualified to relate to FOCUS’ client base.”
Early in his career, Mr. Richards worked overseas with Exxon handling supply issues associated with U.S. Military requirements in Vietnam and the Philippines. He also oversaw the re-entry of the Esso brand into Micronesia and the South Pacific. Upon his return to the States, Mr. Richards became Corporate Credit Manager of Getty Oil based in Tulsa, Oklahoma. After the sale of Getty Oil, he became Credit and Finance Manager of Texaco Refining and Marketing Company based in Universal City, California. There he managed the corporate workouts and bankruptcies, and served as Committee Chairman during numerous high profile bankruptcies.
Due to the scarcity of funding to the retail petroleum distribution industry as a result of environmental concerns, Mr. Richards negotiated a guaranteed loan program with CitiCorp which funded over $300 million in a four year period. He also developed and implemented the first joint venture in the U.S. between Texaco and its wholesale distributer.
Upon the sale of Texaco to Chevron, Mr. Richards joined CitiCapital Franchise Finance in Irvine, California where he assisted in the startup of its loan program for petroleum distributors. He originated over $400 million in loans during this assignment. After the Citi sale of its Franchise Finance business, Mr. Richards was manager of a $500 million convenience store and a gas portfolio for GE Capital in Irvine California.
An alum of Drexel University, Mr. Richards has an MBA in Finance from the University of Pittsburgh and a Juris Doctorate from Western State University in California. Mr. Richards resides in Long Beach, California.
About FOCUS LLC
FOCUS LLC provides a range of middle market investment banking services with an emphasis on mergers, acquisitions, divestitures and corporate finance. FOCUS is a national firm serving clients from offices in major cities across the United States. FOCUS specializes in business units with transactions or revenues in the $5-300 million range, serving entrepreneurs, corporate owners and various types of investors across a broad range of industries, throughout the U.S. and worldwide. FOCUS bankers are seasoned operating and financial executives with extensive transaction experience. Securities transactions conducted by FOCUS Securities LLC, an affiliated company, registered Broker Dealer member FINRA/SIPC. For more information on FOCUS, visit www.focusbankers.com.