Phil Brady

Accomplished former Tax Partner (Deloitte) and Senior Managing Director (FTI Consulting) with over 35 years of tax and accounting experience. At FTI Consulting, provided a broad range of high-level tax services, primarily to real estate and private equity industry clients. Served large private equity and capital markets (securities trading) clients at Deloitte.

Expertise includes transactional tax structuring, tax provision review, tax return and information reporting compliance, strategic planning, and tax due diligence for acquisitions and dispositions. Focused on both corporate and partnership clients and related entity structures.

Board Chair, Treasurer - Barretstown USA - New York, NY

(2022-06)

• Nonprofit Camp founded by actor Paul Newman to create opportunities to send cancer-stricken US children to camp in County Kildare, Ireland.
• Leadership role in fundraising events and professional networking to raise funds for US children to travel to Ireland camp.
• Created Charity’s internal accounting and cost controls, as well as Form 990 tax reporting system and public disclosures.

Senior Managing Director - FTI Consulting - New York, NY

(2007-09 - 2024-08)

• Oversaw tax-related services for client engagements in the real estate and private equity industries, including tax structuring, compliance, and strategic tax planning.
• Served a diverse client base that included real estate investment trusts (equity and mortgage REITs), private equity firms, investment funds, and foreign investors in U.S. investment opportunities.
• Directed tax due diligence efforts for client acquisitions, ensuring thorough risk assessment and compliance. Managed tax due diligence for middle market acquisitions and dispositions in various industries, concentrating on potential federal, state, and transfer tax liabilities.
• Managed all tax planning and compliance for major clients, specifically. leading the tax preparation process involving multiple partnerships and 1120-REIT tax returns for a publicly traded REIT on the NYSE.
• Provided expert tax advisory for numerous client asset acquisition and disposition programs, delivering comprehensive tax structuring and diligence services.
• Demonstrated significant expertise in partnership tax issues, managing intricate IRC Section 704(b) allocations to various investor groups and managing partner capital account adjustments under Section 704(c).
• Evaluated potential capital transactions to assess their impact on REIT earnings and profit distribution requirements.
• Spearheaded a special project analyzing permissible service offerings for tenants across a 250-property REIT portfolio.
• Led basis allocation projects for IRC Sections 734(b) and 743(b) step-ups as they pertained to portfolio holdings under Section 755.
• Served as lead SMD on Mortgage REIT clients, navigating complex debt structures including securitizations and debt portfolio acquisition diligence.
• Analyzed and advised on various joint venture transactions, focusing on Operating Agreement review and portfolio asset step-ups and elective provisions.
• Contributed to several litigation support projects on income tax matters for the Corporate Finance Group.
• Delivered tax planning and compliance services to key executives on matters related to IRS representation, settlement of tax shelter proceedings, and structuring of personal investments.
• Collaborated with HR and other executives to recruit, train, and develop a professional and administrative support team.

Chief Financial Officer - Zerep Holdings, LLC - Sunrise, FL

(2005-01 - 2007-04)

• Collaborated directly with managing members of a privately held, diversified real estate development and investment firm.
• Assumed responsibility for all financial, treasury, budgeting, insurance, and tax functions of the firm.
• Directed financing for six development projects, successfully managing over $100 million in property acquisition financing.
• Maintained regular communication with banking representatives to monitor loan requirements and supervise property acquisition due diligence, both financial and operational, while negotiating terms.
• Led financing efforts for three major condominium conversion projects, sustaining banking relationships and managing related financial reporting.
• Devised a comprehensive internal accounting control system and supervised its implementation; created and monitored a monthly financial reporting package for managing members.
• Implemented significant tax reduction strategies including tax-free exchanges, capital gain preservation, and accelerated capital cost recovery methodologies, supervising all tax filings and partner tax planning.
• Collaborated extensively with Project Managers to develop and monitor project rehabilitation cost budgets, unit pricing structures, sales team compensation frameworks, and inventory tracking for units.

Principal - Compass Advisors - New York, NY

(2003-01 - 2005-12)

• Delivered tax planning strategies and compliance services tailored for private middle market corporations.

Tax Partner – Financial Services Group (admitted to Partnership June 1997) - Deloitte - New York, NY

(1981-09 - 2003-06)

• Led multiple professional services – tax advisory teams in the Financial Services Group (NYC), providing comprehensive tax consulting, planning, and compliance services to Private Equity, Hedge Funds and Real Estate Companies.
• Focused tax planning efforts on worldwide tax rate minimization and (M&A) transactional tax efficiencies.
• Specialized in corporate and partnership taxation, particularly addressing multi-state and international tax issues.
• Served as the Lead Tax Partner for a major private equity buyout fund client, advising client on corporate reorganizations, of portfolio companies and the tax implications of management company structures.
• Counseled clients on various partnership tax matters, including foreign investor tax withholding (FDAP, ECI, and FIRPTA), determining 'effectively-connected' activities per the Internal Revenue Code (IRC), as well as Section 743(b)/734(b) basis adjustments and UBTI considerations for tax-exempt partners.
• Advised private equity high net worth partners on investment structuring and alternatives.
• Implemented and advised on tax planning strategies at both partnership and portfolio company levels, ensuring compliance and optimization.
• Supervised federal and multi-state partnership (Funds) tax return filings for complex layered fund structures and related management companies.
• Provided consulting and advisory tax guidance to corporate clients regarding U.S. taxation for financial treasury transactions, including taxation of engineered financial instruments and hedging products (such as regulated futures contracts, forwards, and equity/interest rate swaps).
• Conducted financial statement (FAS 109, FIN 48) income tax accrual reviews for public and private corporate clients, with major engagements including a public financial institution, two foreign securities broker-dealer groups, and a public aircraft parts reseller.
• Managed compliance projects, overseeing the sign-off of U.S. consolidated group and Form 1120F (Foreign Corporation) filings; conducted state tax filing analyses based on various allowable apportionment methods.
• Delivered tax counsel to the Mergers and Acquisitions Group of an investment bank unit, including due diligence and related structuring advice, U.S. tax advisor for a Dutch specialist firm for aggressive U.S. acquisition platform.
• Established U.S. reporting and withholding tax policies for 'inbound.' securities and banking clients regarding cross-border financial products; collaborated with the capital markets group to determine withholding rates based on counterparty domicile, income tax treaty analyses, payment types, and required documentation. Restructured certain related-party transactions for statutory exception compliance.
• Collaborated with the Deloitte International Transfer Pricing team in implementing pricing policies and corresponding documentation for U.S. broker-dealer subsidiaries of two foreign banks concerning U.S. taxation of global operations. Developed worldwide tax savings strategies related to global pricing policies, analyzing U.S. Global Dealing Regulations and corresponding foreign laws. Managed U.S. client teams during a global cost allocation study (covering HR, IT, marketing costs, etc.).
• Major clients included Apollo Global Management, BNP Paribas, RBC Capital Markets, and Van der Moolen Securities Dealer /”Jobber”).

MS - Taxation - Pace Univ. (1983-09 - 1986-05)

BBA - Accounting - Pace Univ. (1977-09 - 1981-06)