Robert Apfel

Background

About Robert Apfel

EXPERIENCE Apfel has developed, operated and sold several businesses in the securities and banking sectors. These businesses have included Securities Industry Daily, the operations and systems newspaper of the securities and mutual fund industry, and Fiduciary Communications Company, a financial data and communications agency. These two businesses were sold to the company that is now called Thomson Reuters. At the age of 28, Apfel created an innovative method of bond financing, which was licensed to Prudential Securities. Apfel's bond financing method, which embraced the book-entry-only issuance technique, became established as the "industry standard” for the issuance of virtually all government and corporate bonds. Apfel’s methods are used routinely in over $4 trillion of securities issuances each year. The development of these financing methods was described in a widely cited appellate court decision, Apfel v. Prudential Bache Securities, 81 N.Y. 2d 470 (1993). The case is a staple in law school contract courses. Apfel started his financial career as an investment banker at Chemical Bank (now JPMorgan Chase) and with Drexel Burnham Lambert. He was previously Director of the Affiliated Companies Group of the New York Times Company. CONSULTANT EXPERIENCE Apfel served as a consultant to the U.S. Justice Department and the Office of the Solicitor General in the government’s successful defense in South Carolina vs. Regan. The case turned on issues involving the mechanics of bond issuance. Apfel has advised both the United States Treasury Department and the London Stock Exchange on similar matters.