Mark Herzinger

Mark Herzinger

Partner · +1 (212) 378 4365
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Mark is a partner and sector leader in the national financial services practice of Baker Tilly US, LLP.

Mark has over 25 years of experience in financial and tax services. He is an executive and C-suite advisor in tax and accounting aspects of structuring tax-efficient capital market financings, asset management alternative investments, liquidity facilities and insurance products that allow a financial services company to have both flexibility and enhanced returns on investment. Mark has extensive experience in transforming financing solutions to optimize operational performance. He has structured renewable energy related investments in the solar and wind sectors, asset management infrastructure, capital market financings, insurance products and cross-border corporate treasury funding solutions. Leader of multi-functional teams who brings innovative, transformative financing solutions to the U.S. capital markets, insurance, and asset and wealth management sectors. Member of New York Bar and New Jersey Bar.

  • Applies a blended tactical, tax structuring and tax accounting approach to advise on corporate finance, asset management, FP&A, M&A and insurance tax and broker-dealer tax matters.
  • Led domestic and global tax accounting and legal teams in financial services organizations spanning banking, broker-dealer - capital markets, insurance and asset management sectors.
  • Provided Treasury and tax advisory leadership for AIG Inc and its Life, Retirement, and Property Casualty Insurance subsidiaries on the recapitalization of the company in connection with the 2008 financial crisis.
  • Lead treasury tax negotiator with the US Treasury in connection with the restructuring $85bn Federal Reserve Bank of New York credit facility support and $49Bn of TARP preferred stock held by the US Treasury. 
  • Led approach to IRC 382 impact of unwind of US Government Support and restructuring AIG's global debt and Equity Units. Lead attorney advisor on private letter ruling process for three critical PLRs for AIG/ US government restructuring in connection with US’s government financial exit.
  • Guided clients on a variety of tax-panning and capital planning initiatives.
  • Advised on legal entity rationalization, divided planning, subpart F and DTA/DTL asset structuring and planning.
  • Establish global tax risk policy, tax and treasury liquidity planning and guidelines to meet compliance standards with numerous taxing authorities, and to obtain certainty of company tax positions such as private letter rulings and tax controversy internal revenue and state tax settlements. Represent senior executives, asset management and financial risk committees with top officials of the U.S. Treasury and U.S. Internal Revenue Service.
  • Worked with a tax law practice actively engaged in tax planning, structuring, and negotiating capital market transactions principally in the areas of international and domestic M&A and structured finance.
  • Member of corporate tax dept. structuring and negotiating global M&A transactions, cross border securities offerings and real estate transactions, REMIC and REIT structures.
  • Headed a cross functional role covering insurance and asset management with a mandate to develop comprehensive structured finance, life insurance, and banking products. Also, advise on tax planning and accounting/technical transactions in corporate M&A practice across insurance, banking and capital markets industries. Managed an annual book of $25mm of tax and treasury capital planning consulting business.
  • Advised on liquidity and capital impact of deterministic stress testing of current and mid-range business forecasts, interest rates and liquidity, including hedging, ALM and cash tax planning and obligations.
  • Built forecasting models of risk analytics for complex Capital Analysis and Review (CCAR) for banking and insurance Non-Bank SIFI risk-based capital and liquidity positions for capital market transactions and liquidity raising.
  • Advised clients on tax- and STAT capital planning initiatives including impact of tax laws regarding BEAT and GILTI regimes in the context of cross border reinsurance arrangements. Also consulted on life insurance and annuity product and STAT and tax reserve matters.
  • Directed asset management clients on security and investment structuring to achieve STAT capital, tax and RBC efficiency. Presented approaches to investment partnerships, DRD and dividend planning in the context of 2017 tax cuts and jobs act reform.
  • Guided FS multinationals on the tax attribute forecasting and scenario modeling in connection with ASC 740 analysis for DTA/DTL forecasts and internal/external regulator applied stress tests and analysis on their impact on the organization’s consolidated tax attributes/assets and tax accounting positions.
  • Steered multinationals on tax efficient treasury centers, hedging centers and liquidity structures.
  • Supported private equity firm in tax product risk due diligence and accounting issues in connection with acquisitions of insurance operating companies and lines of business.
  • New Jersey State Bar Association
  • New York State Bar Association
  • New York State Bar Association’s Committee on Financial Products and Instruments
  • Wall Street Tax Association
  • American Council of Life Insurers
  • Society of Financial Insurance Executives

Licenses

  • FINRA Series 7 and 63 (inactive)
  • New York Bar
  • New Jersey Bar

Location

New York

Education

Juris Doctor
Seton Hall University School of Law (Newark, NJ)

 

Bachelor of Arts, economics and politics
State University of New York (Stony Brook, NY)