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MazzaranoAlfred Mazzorana commenced his Wall Street career in 1973 as a bond credit analyst. In 1975, expanded his expertise in electric utility credit analysis to include utility bond indenture covenants. Provided expert witness testimony before State utility regulatory commissions and was inducted onto the faculty of the Bank of NY ‘Electric Utility Industry Seminar’.

His entire career has been involved in fixed income research and trading working with Russ Fraser’s bond research group at Paine, Webber, Jackson & Curtis, E.F. Hutton, UBS, M.J. Whitman & Co., and Furman-Selz, Inc.

At Paine, Webber, Jackson & Curtis. Participated in the publication of “Technical Features of Corporate Bonds”. At the time a watershed publication listing in detail technical features of essentially the entire electric utility industry and reflecting heretofore dormant covenants relating to ‘special’ bond call provisions, the discovery of which materially impacted market trading levels of utility first mortgage bonds.

At E.F. Hutton, co-managed the bond research group, bringing together bond trading and sales group with bond research. Introduced an optimization refunding analysis study utilizing a DCF model in pricing and predicting optimum order of early redemption of high coupon electric utility bonds. Provided indenture modification advice to selected electric utility companies - Consumers Power, Wisconsin Public Service Co., Gulf States Utilities, Inc., Texas Electric Utilities, Inc., - on best methods for modifying their first mortgage bond indentures and procuring institutional investor approvals, in light of the disruptions caused by the 1974 oil embargo.

Following E.F. Hutton he joined UBS, M.J. Whitman & Co. and Furman Selz, Inc. Post-9/11 founded ‘Energy Investment Partners, LLC’ a closed-end bond investment group combining indenture analysis and bankruptcy law to ascertain investment opportunities in municipal and
corporation reorganizations.

He earned his B.S. degree from Long Island University (Brooklyn campus) Financial Analysis/ Accounting (1972); M.B.A. from Baruch College, NYC Financial Analysis/ International Finance. Studied and mentored under professors: Abraham Briloff (accounting), Francis Schott (foreign exchange currency) and Martin Zweig (investment analysis).  His master’s thesis, titled “The Feasibility of Floating Exchange Rates”, is a quantitative study of currency speculator opportunity, albeit world currency system risk, focused on the world currency exchange system following the collapse of the Bretton Woods Agreement (1972).

He is a founding member of FIASI (1975) and served as its first treasurer and later president. Retired, he is an active philanthropist and lives with his wife in Delaware and Vermont.

Disclaimer: The biography is as of the date the speaker presented.
Event Name FIASI 2024 Annual Meeting
Event Date 2024-06-11

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