David, the co-founder of PB Capital Management, is a leading investor in the financial services industry. David has been a trusted advisor and investor for more than 30 years. For several years, David has been aware that things were not the same in the banking industry. His current focus is investing in digital transformation and the user experience.
Since 2010, David has been the President and Chief Investment Officer for Pullco Financial Partners, LLC, a hedge fund investing in traditional financial institutions in the United States. Pullco was formed post financial crisis with the dual themes of earnings recovery and consolidation in the banking industry. Since formation, Pullco’s investors have generated annual returns of 11% after fees.
Before forming Pullco, David was affiliated with Tontine Associates, a multi-fund hedge fund company based in Greenwich, CT. David focused his efforts on Tontine Financial Partners, LLC, a fund with investments concentrated in domestic banks and thrifts. David worked directly with Tontine’s managing partner in research, portfolio strategy and trading.
Prior to joining Tontine, David twice worked at Trident Securities, Inc., during the periods 1983 to 1989 and 1996 to 2002. Trident, based in Raleigh, North Carolina, was one of a number of boutique investment banking firms that emerged in the late 1970’s as financial industry deregulation created dynamic opportunities. David was initially an investment banker managing mutual to stock conversions, and later led equity sales and trading.
In addition, at the age of 29, David was President of a North Carolina based thrift. He also worked for several regional investment banking firms, in financial institutions group and institutional sales roles.
David was graduated from the University of North Carolina at Chapel Hill in 1982 with a BS in Business Administration. He is a Chartered Financial Analyst (CFA).