Employee Spotlight: Mike Lange

Mike Lange is the Senior Vice President of Worldwide Litigation at Financial Recovery Technologies. With more than 20 years of practice, he has built a rich network of relationships around the world including corporations, government agencies, lawyers and other professions, which he brings to bear for FRT clients.

1. What are your top priorities and biggest challenges?

My top priorities are deepening our network of global relationships, helping build our governance solution, and ensuring we identify every recovery opportunity worldwide that touches on our clients’ investments. Back in 2015, when FRT was growing, the number of eligible recovery opportunities was also increasing substantially and as a result, we identified one of the biggest challenges of finding every opportunity. There are a lot of moving pieces in the process, but as the market evolves, so is FRT. We are committed to staying on top of the rapidly evolving global landscape with new countries coming on, evolving laws in active countries, and more organizers and cases every year.

2. What does your typical day look like?

It seems to vary as soon as I hit the door. I spend a large part of my day identifying new cases outside of our core claim filing business and understanding how all those types of recovery opportunities work in other jurisdictions. The entire legal team services all departments within FRT including client service, marketing and sales, and operational support and I will engage cross-departmentally to support the client and sales in providing my expertise and demonstrating our value proposition.

3. What is FRT doing to ensure they are adapting to the changing landscape of the class action industry while continuing to meet the needs of current and future clients?

FRT has done a great job maintaining relationships with the key players in various global jurisdictions. As we are solely focused on shareholder class actions, we have established ourselves to be at the forefront of new trends and issues. This allows us to support our clients efficiently and effectively and continuously think about how to improve the packaging of the information we provide and the services we offer for our clients.

4. What is your biggest achievement to date at FRT?

I am proud to have helped the team launch the antitrust recovery offering, as well as put organization and structure around the global offering, which has proven to drive the business to the next level. It was a cross-departmental effort involving the legal team, operations, sales, marketing, and client services. Not only does it demonstrates our core values, but it is a good example of the launch of a new product where collaboration had input in the ultimate success.

5. What is the most valuable lesson you have learned during your tenure at FRT?

I’ve worked in organizations that have been very slow to adapt, grow and develop. FRT doesn’t suffer from that. If we believe something needs to be done, it gets done quickly and efficiently. So, my advice could be is to be persistent. It’s important to always look at a challenge as an opportunity and constantly be striving to learn from setbacks and be more nimble going forward.

6. What advice do you have for someone considering a career at FRT and in the legal industry?

Don’t go in with any preconceived notions. Be flexible and adaptable from the very beginning because you may come in thinking you’re going to be doing one thing and it will evolve into something else. And a year later, you’ll be doing something completely different.

 

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Financial Recovery Technologies’ Shareholder Litigation Fast Five provides you with the top news in shareholder class actions. This is your exclusive summary of the latest industry developments related to settled, group and antitrust actions and recovery opportunities. Click here to subscribe.

Learn More

For more information on what our employees have to say about their experiences with FRT, check out our careers page.

About FRT

SETTLED CLAIMS  I  PASSIVE GROUP  I  ANTITRUST  I  FUTURE CLAIMS  I  OPT-IN MONITORING  I OPT-OUT MONITORING

Founded in 2008, Financial Recovery Technologies (FRT) is the leading technology-based services firm that helps the investment community identify eligibility, file claims and collect funds made available in securities and other class action settlements. Offering the most comprehensive range of claim filing and monitoring services available, we provide best-in-class eligibility analysis, disbursement auditing and client reporting, and deliver the highest level of accuracy, accountability and transparency available. For more information, go to www.frtservices.com.

This communication and the content found by following any link herein are being provided to you by Financial Recovery Technologies (FRT) for informational purposes only and does not constitute advice. All material presented herein is believed to be reliable but FRT makes no representation or warranty with respect to this communication or such content and expressly disclaims any implied warranty under law. Opinions expressed in this communication may change without prior notice. Firms should always seek legal and financial advice specific to their unique situation and objectives.

Employee Spotlight: Chris Looby

Chris Looby started at Financial Recovery Technologies 10 years ago as an intern while getting his MBA at Boston University. Today, he is the Director of Operations where he oversees many of the workflows related to service delivery for our 800+ clients.

1. What are your top priorities and biggest challenges?

As Director of Operations, my role is largely focused on managing service delivery at FRT. I am responsible for ensuring that processes are properly designed and are always operating effectively. Also, when non-standard events arise, I am responsible for designing and implementing solutions that enable FRT to handle them.

Non-standard events often present our greatest challenges, but also the best opportunities for FRT to distinguish itself.  Examples include the recent series of ADR FX Fee settlements, as well as the ongoing benchmark rate manipulation antitrust settlements. I have played a role in planning, designing, building and implementing FRT’s solutions to these and many other similarly challenging recovery events.

I am constantly asking myself: How do we give our clients a world-class service experience with FRT? How do we deliver a service that is both robust and flexible? And how do we drive projects forward to continually improve the quality of the client’s experience?

2. What does your typical day look like?

I start my day by reviewing anything that comes in from our foreign offices overnight to make sure their questions are handled in a timely manner. Given the time differences, it is important to address such inquiries as quickly as possible.

Then I review the projects and outstanding tasks for which my team and I are responsible. I try to make sure tasks are appropriately prioritized and that expectations are clear.

I like to work on process design and application building projects in the morning whenever possible because that’s when many of our client-related questions have not surfaced yet. By the afternoon, inquiries have commonly come in, so I dedicate my time to supporting our client services and sales teams. I also work with the technology development and business analyst teams to provide support and guidance on business rules for how I think our technology should work.

3. What is FRT doing to ensure they are adapting to the changing landscape of the class action industry while continuing to meet the needs of current and future clients?

The class action industry has shifted such that shareholder litigation is no longer being treated as a commodity, but rather as an asset (and potentially a risk) that needs to be managed thoughtfully. For most asset owners and managers, it is no longer enough to simply file claims and get your money back. Investors are making challenging decisions; they are designing their own best strategies for handling shareholder recovery opportunities, and FRT has been building the technology and expertise over the past several years to help its clients do just that.  I think we are at the forefront in our industry when it comes to treating shareholder litigation this way.

4. What brought you to FRT and what keeps you here?

I came to FRT because I wanted to work for a company with an entrepreneurial spirit. I wanted a chance to help build something and feel like my contributions were influencing a world-class enterprise. When I met with the team members back in 2009, I instantly recognized that FRT was an incredibly smart group of people with a great idea. Although I’d never had any exposure to the shareholder litigation industry, as soon as I heard what it was and where they wanted to take the company, I saw the potential to learn, grow, develop and ultimately be successful with these people. Now, ten years later, we have over 100 employees and over 800 clients. I can look back and be incredibly proud and pleased that I made that decision so long ago. Also, I feel that the same qualities that drew me here ten years ago are still present, even with all of the growth we’ve experienced during that time.

Regarding what has kept me here for so long: it has been the continuous trust and responsibility I’ve been consistently given. Even as an intern, I was given substantial research projects, the results of which were taken seriously and acted-on by senior management. For example, what ultimately became FRT’s group litigation product started as one of my first research projects. When I presented my findings about non-U.S. shareholder recovery opportunities to the president of the company, he quickly detected value in it for our clients and committed resources to productizing it. The fact that I was able to have that kind of impact on a company at the get-go, and for anyone who comes here to know that they can have a similar experience to impact the business in a meaningful way, is very rewarding.

5. What is your biggest achievement to date at FRT?

I am most proud of FRT’s response to the challenges of processing the ongoing rate-manipulation antitrust settlements. When these settlements first started appearing in the market, they required a lot of new technology, new processes, and project management to make sure that all our clients were properly notified, that we got all the right data, and that when we got the data, we were handling it correctly.

Doing so required me to coordinate between the operations, technology development, sales and client services teams to handle a large number of new complexities. So, I would say I’m most proud of enabling FRT to pivot their focus and successfully work together to file well over 100,000 claims in a way that wouldn’t have been possible before. There are a lot of organizations where such a major pivot just wouldn’t have been possible and it’s because we’ve got a thoughtful team of people who deeply care about doing the right thing for our clients.

6. What advice do you have for someone considering a career at FRT?

Listen, react and learn from your peers. Don’t limit yourself to just your area of focus. The more you understand the larger context for our business, our industry in general, and understand what it is we do and why we sell our products, the more you’ll feel like you’re integrated into a team that is very special, talented and committed.

Subscribe to FRT’s Monthly Newsletter

Financial Recovery Technologies’ Shareholder Litigation Fast Five provides you with the top news in shareholder class actions. This is your exclusive summary of the latest industry developments related to settled, group and antitrust actions and recovery opportunities. Click here to subscribe.

Learn More

For more information on what our employees have to say about their experiences with FRT, check out our careers page.

About FRT

SETTLED CLAIMS  I  PASSIVE GROUP  I  ANTITRUST  I  FUTURE CLAIMS  I  OPT-IN MONITORING  I OPT-OUT MONITORING

Founded in 2008, Financial Recovery Technologies (FRT) is the leading technology-based services firm that helps the investment community identify eligibility, file claims and collect funds made available in securities and other class action settlements. Offering the most comprehensive range of claim filing and monitoring services available, we provide best-in-class eligibility analysis, disbursement auditing and client reporting, and deliver the highest level of accuracy, accountability and transparency available. For more information, go to www.frtservices.com.

This communication and the content found by following any link herein are being provided to you by Financial Recovery Technologies (FRT) for informational purposes only and does not constitute advice. All material presented herein is believed to be reliable but FRT makes no representation or warranty with respect to this communication or such content and expressly disclaims any implied warranty under law. Opinions expressed in this communication may change without prior notice. Firms should always seek legal and financial advice specific to their unique situation and objectives.

Employee Spotlight: Paula Morrison

Paula Morrison started at Financial Recovery Technologies in October 2012 bringing over 20 years of experience in the financial services industry. During her tenure at FRT, she has done direct sales, managed third-party relationships, and led the development of our custody partnership program. Today, she manages our channel partners to identify additional business opportunities within our client base and assist the territory sales executives to navigate those opportunities.

1. What are your top priorities and biggest challenges?

My top priority is to leverage our channels to uncover warm leads for our territory sales executives to pursue. My role involves coordinating with several sales executives, all of which have different styles of managing their territory. Learning their styles and establishing a productive cadence can be a challenge at times, however, our collective efforts align with the business’s overall objective to identify new clients and grow our existing relationships to do more business with FRT.

2. What does your typical day look like?

I spend a large part of my day engaging with clients and/or channel partners. Much of that activity is via conference calls and email communication, so I am either on the phone or in Outlook. I also engage with many individuals internally working collaboratively to progress projects and opportunities.

3. What is FRT doing to ensure they are adapting to the changing landscape of the class action industry while continuing to meet the needs of current and future clients?

FRT has done a great job at staying on top of and ahead of the trends in the shareholder class action marketplace. The first instance of our innovation was the development of our global offering in 2011-2012. While many of our competitors were not focused in this area of supporting investors in non-U.S. matters, FRT invested a lot of time into building a marketable solution that no one else was offering. Another example is our strategy to address the influx of non-securities, Antitrust settlements. FRT is solely focused on shareholder class actions and established a dedicated team of legal, research, and operational roles to service our clients for these cases since the data and filing process is very complex.

4. What brought you to FRT and what keeps you here?

Prior to FRT, I was at NYSE Technologies; the technology division of the New York Stock Exchange. My sales manager at NYSE came to FRT in the spring of 2012 to run the sales team. He had an open position to manage the Boston territory and knowing that I had a newborn, two toddlers, and that I wanted to limit my travel, he thought the opportunity was a mutual fit.

One of the reasons that keeps me at FRT is that I don’t feel like I’m just a number. I am a whole person with a voice. The executive team is accessible and if I have something to say, they make time to listen, and help me to understand and see the bigger picture. In my experience, they also seek out opinions throughout the organization. When I am asked for my opinion, it makes me feel valued and that I am a contributing. I have a very busy life and if I’m going to be spending a bulk of my day working at something, I need to know that my efforts are providing value.

5. What is your biggest achievement to date at FRT?

Without a doubt – launching our custody program. I remember Rob Adler, CEO of FRT, tapping me on the shoulder and asking if I was interested in taking on the project. On the one hand, I was excited to be part of such a pivotal project for FRT, but on the other hand, I was petrified that I would mess it up! Rob and Steven Longley, SVP of Corporate Development at FRT, were the brain-trusts behind developing that partnership, but I’m proud to have been so intricately involved in the building of a relationship that played such significant role in the shaping of the growth of FRT to what it is today.

6. How do you define success?

Success to me is setting goals, working through the challenges that may arise, and achieving a result you are happy with, even if it not exactly what you originally sought out to achieve. Everything we set out to do is a growth and learning opportunity. Embracing the challenges along the way, adapting as you continue ahead, and continuing until you are happy with the results are all components that contribute to success.

7. What is the most valuable lesson you have learned during your tenure at FRT?

The learning process is never done. When I first started at FRT I did a tour by spending time with each group trying to understand what we do and how we do it. I recall Rob saying to me, “you will do yourself a disservice if you don’t do this again in 6 months.” He was right.

When you first attempt anything, it can be overwhelming, and you truly are only absorbing a portion of what you are being told/learning. Revisiting the basics once you’ve increased your knowledge base really gives you a deeper understanding of that skill. I have been here for 6 ½ years and I learn new things and gain a deeper knowledge all the time. Whenever I sit with new employees, I try to pass along this same advice.

8. What advice do you have for someone considering a career in Sales?

My advice can be applied to any industry — find a mentor within the company that is like-minded, driven and knowledgeable in the services that the company offers.  Sometimes, we all need someone to allow us to see things from a different perspective.  For those that are earlier on in their career, having someone with a healthy number of years of experience to guide them through challenging scenarios can really make a meaningful difference in the development of their career.

Learn More

For more information on what our employees have to say about their experiences with FRT, check out our careers page.

About FRT

SETTLED CLAIMS  I  PASSIVE GROUP  I  ANTITRUST  I  FUTURE CLAIMS  I  OPT-IN MONITORING  I OPT-OUT MONITORING

Founded in 2008, Financial Recovery Technologies (FRT) is a leading technology-based services firm that helps the investment community identify eligibility, file claims and collect funds made available in securities and other class action settlements. Offering the most comprehensive range of claim filing and monitoring services available, we provide best-in-class eligibility analysis, disbursement auditing and client reporting, and deliver the highest level of accuracy, accountability and transparency available. For more information, go to www.frtservices.com.

This communication and the content found by following any link herein are being provided to you by Financial Recovery Technologies (FRT) for informational purposes only and does not constitute advice. All material presented herein is believed to be reliable but FRT makes no representation or warranty with respect to this communication or such content and expressly disclaims any implied warranty under law. Opinions expressed in this communication may change without prior notice. Firms should always seek legal and financial advice specific to their unique situation and objectives.