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July 2004
Andy
Cvitanov is Managing Director for The Beekman
Group, a newly formed private equity firm. Andy
was achieving considerable success as Chief
Executive Officer of an independent subsidiary
of a Fortune 100 company when he decided to
change his career. He chose Kelleher Associates
to help guide him through the transition.
Describe your career highlights:
So far there have been three major highlights in my career, but I’m just getting started, and I expect to have many more! First, being promoted by American Express to take over its Tax and Business Services practice was huge. This was the tenth largest professional services firm (accounting) in the country. In this role, I provided direction, leadership and a vision to address an ever-changing marketplace. For three years we drove a restructuring effort in top line growth, operations, marketing and branding that resulted in company-wide improvements. I worked independently from American Express and enjoyed considerable freedom. It was tremendous fun.
Second was when American Express recruited me, from the outside, as Senior Vice President of its External Enterprise Department. This was a unique and exciting position with a world-class company. I had thousands of people reporting indirectly to me and was responsible for outsourcing decisions, business management and everything in between.
Third would be my experience at Continental Information Services Corporation, at the time the second largest independent equipment leasing company prior to its bankruptcy. Working through a bankruptcy was a new challenge, one that would teach me volumes in legal, financial and managerial areas.
What prompted you to consider leaving a senior role with American Express in New York City to do something in the Philadelphia area?
My drive to leave American Express was multi-faceted. Although my career was in high gear and I was successful, I wanted to focus less on strategy and more on rolling up my sleeves and directly impacting daily operations. Leading the American Express Tax and Business Services allowed me to operate within a large Fortune 100 company but still have a hand in operations. It was then that I decided to return to the middle market. The second half of the equation was a personal goal to spend more time in the Philadelphia area, where I reside, to network and enjoy life here.
Why did you select Kelleher Associates when you could have gone with any major outplacement firm in NYC or Philadelphia?
At the end of the day, selection of Kelleher was an easy decision. I interviewed both boutique and large scale firms and concluded that the level of service, care and personal interest at Kelleher exceeded the competition. The Kelleher team delivers a high level of client service, comparable to the American Express brand, and I liked that.
What were the key factors influencing your career change from line management to private equity investing?
This shift is a long-term career change for me. This is where I intend to stay. As an operating partner, I work hands-on with a portfolio of companies. So for me, the need to become a CEO of a private company has become unnecessary as I get to interact with them on a daily basis.
Although you are a seasoned senior executive, what did you learn and what tools and techniques do you now use as a result of your experience with Kelleher Associates?
Working with Kelleher was an awakening. They gave me the encouragement I needed to look inside myself and realize what I was really good at—such as building and developing relationships. Kelleher brought this skill and passion to the surface and helped me capitalize on it. Without this guidance, I would never have thought of creating my own job. The skills I learned from the Kelleher Associates team, in particular, Ed Kelleher and Mitch Wienick, have been directly beneficial to my move to private equity investing.
What advice would you give to another senior executive looking to make a similar career change?
The first piece of advice is this – the more thought you put into the process of a career change, the more you will get out of it. I would suggest that he or she work with Kelleher before making the change as opposed to finding them after the change is in motion. Leaving American Express was my decision, and I controlled the time frame. In retrospect, I would have garnered even more from the process if I had connected with Kelleher before making the move.
Would you recommend Kelleher Associates and why?
Emphatically yes! When you select Kelleher, you get a team of highly dedicated professionals working with you step by step to enhance your career. After comparing Kelleher to the competition, one can clearly see the value that Kelleher brings to the equation.
Describe your overall experience with Kelleher Associates.
I did not expect to find such a valuable and long-term relationship in Kelleher. I anticipated the experience to be more of a transaction. Instead I discovered a relationship with true friends and trusted confidants.
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