Senior Management Team
   

Todd Schuster, CEO, CW Financial Services  
Todd Schuster 

Mr. Schuster is a founder, principal and member of the Board of Managers of CW Financial Services (CWFS), and serves as the Chief Executive Officer of CWFS and its subsidiaries.  Mr. Schuster joined CW’s predecessor company in 1990. In September 2002, Mr. Schuster spearheaded the acquisition of CWFS by its senior management team and The Caisse.  This transaction helped propel CWFS to the forefront of the commercial mortgage finance industry by combining the company’s lending and capital markets expertise with the capital resources and investment philosophy of The Caisse.

Today, Mr. Schuster leads a distinctive organization within the commercial real estate finance industry with approximately 320 employees located in 13 offices throughout the United States.  The company operates primarily through three subsidiaries:  CWCapital provides financing to owners of commercial real estate, CWCI provides high yielding commercial real estate debt opportunities to institutional investors and loan surveillance, and CWCAM provides special servicing capabilities.  Led by a team of exceptional breadth and expertise, the three subsidiaries of CWFS have an informational and operational flow that is unique in the industry. Prior to founding the company, Mr. Schuster was employed in the commercial mortgage finance units of Bankers Trust and Salomon Brothers.  Mr. Schuster received a Bachelor of Arts from Tufts University.

Michael D. Berman, President, CWCapital 
Michael D. Berman 

Mr. Berman is a founder, principal, and member of the Board of Managers of CWFS, and serves as the President of CWCapital.  Mr. Berman joined CW’s predecessor company in 1985.  He oversees strategic planning and operations for all of the Company’s loan programs: Fannie Mae, Freddie Mac, FHA, conduit, bridge, mezzanine, and balance sheet whole loans.  In addition, Mr. Berman provides strategic input for the Company’s vertical integration business plan, as he serves on the Boards of CW Financial Services, CWCapital Investments and CWCapital Asset Management.  Under Mr. Berman’s direction, CWCapital first entered the national lending business in 1991.  Since then, loan production has grown from $100 million in 1991 to $2.8 billion in 2007.  CWCapital services all loans which it originates, currently servicing a portfolio of over $9.4 billion in 48 states. 

Mr. Berman is Vice Chair Elect of the Mortgage Banker's Association (MBA) and has served served on the Board of the MBA (2006-2008), the Fannie Mae DUS Advisory Council (2006-2008), the MBA Council to Shape Change (2005-2006), and the Board of the National MultiHousing Council (1995-2008).  Since 1990, Mr. Berman has been an active speaker on multifamily and commercial real estate finance. 

From 1987-1997, Mr. Berman served on the Executive Committee of the KP/Wingate Insured Mortgage Funds (1987-1997), a series of public funds sponsored by a predecessor of CWCapital to invest in mezzanine and participating first mortgage positions.  Prior to joining CWCapital, Mr. Berman practiced law in the Boston and San Francisco offices of a large national law firm.  Mr. Berman earned a Bachelor of Arts from Harvard University and a Juris Doctor from the University of Pennsylvania Law School.

Charles Spetka, President, CWCapital Investments and CWCapital Asset Management 
Charles Spetka 

Mr. Spetka joined CWCI in 2003 as President and became President of CWCAM at its inception in July of 2005.  In this capacity, Mr. Spetka is responsible for developing and managing CWCI’s investment management platforms and CWCAM’s special servicing platform operation. Managing a combination of single asset and CMBS portfolios, CWCI has grown rapidly in the past three years, with approximately $8.6 billion in assets currently under management, and is well positioned for continued growth.  Mr. Spetka helped develop CWCI into a dominant force in the CMBS market, recently being ranked as the second largest active participant in the market. 

Mr. Spetka further led the team advising The Caisse in the acquisitions of the $1 billion Allied Capital real estate investment platform and the over $300 million CRIIMI MAE mortgage REIT by one of its affiliates.  As a direct result of the Allied and CRIIMI MAE transactions, CWCAM grew rapidly into a leading special servicer in CMBS transactions with a portfolio of mortgage loans exceeding $100 billion.  Mr. Spetka has also positioned CWCI as a leading CDO issuer, issuing multiple vehicles under the COBALT and ACT brands.  Prior to joining CWCI, Mr. Spetka spent seven years with GMACCM, where he was a founder and Managing Director of GMAC Institutional Advisors (“GIA”) and developed the Fund Management Business and CDO platform.  Under the supervision of Mr. Spetka, the group was a dominant investor in subordinate CMBS, created three opportunity funds, and issued seven CDOs.  Prior to joining GMACCM, Mr. Spetka was a trader at Goldman Sachs and First Albany Corporation where he specialized in CMBS, HUD project loans and commercial performing and non‑performing loans. 

Mr. Spetka received a Bachelor of Science in Electrical Engineering from Pennsylvania State University and a Master of Business Administration from the University of North Carolina.

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CW SPOTLIGHT
7.15.08
Robert Restrick Appointed Senior Managing Director of CWCI

6.09.08
CWCapital President Michael Berman Nominated as Vice Chair Elect of MBA

6.09.08
Fitch Upgrades CWCapital's CMBS Special Servicer Rating to CSS2+

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