Hans Tallis, CFA

I advise clients on how to think about, and optimize, multiple and conflicting goals: share price, total shareholder return, credit strength, capital allocation, market rate exposures, and hedging strategies. • I discover what has driven share price appreciation for a firm or a sector. • Where surplus capital is available, I can determine how a firm should best deploy it: for internal or external investment, for return to shareholders, for debt reduction, for defined-benefit pension plan contribution, or for other uses. • I can assess credit rating as either a target for improvement, such as a spec-grade firm’s journey toward investment grade, or as a constraint, such as a limit on a firm’s acquisition capacity. • Where a change to asset mix is being considered, I expand on the traditional synergies method, determining how the new consolidated entity will perform through a business cycle. • Cross-border acquisitions raise important issues of pre-closing and long-lived exchange-rate exposures. I can analyze the stages independently, advising on potential dilution risk in the former case and unwanted translation risks in the latter. • Many firms do not understand how their income sheet risks interact, and have in the past undertaken risk-management programs that actually increased both risk and cost. I can demonstrate this and guide the client to a better solution. • For firms with commodity price exposures, I can show how these exposures restrict debt capacity with high accuracy. If there are cost-effective hedging instruments available, I can design linear or option-based hedging programs that control a firm’s downside risk. • I can measure interest rate exposures and the ability of a firm to naturally offset these with cyclical operating asset performance. Where risk is attractively priced, I can show how a firm can benefit by letting the market pay it to self-insure in a measured way. You can read more about me at quantcorpfin.com. Specialties: Strategic capital deployment, quantitative corporate finance, risk management, Monte Carlo simulation, technology program management.