Kevin McKenna, President and CIO of Main Line Capital Management, traces his work in the markets back to the formative years of the modern 'Hedge Fund' industry. During the early 1980's, the economy was quickly recovering from several severe recessions dating to the 1970's. Wall Street responded to this new growth opportunity by expanding the services offered to their institutional level clients. But, it was quickly realized that the retail investor was the real star of early 1980's market place. The investment demands of this newly burgeoning retail client prompted many institutional level firms to begin servicing this significant opportunity. New and revolutionary advisory services and product offerings were created and rolled out. To create greater efficiency, these varied services were brought in under one roof and Wall Street quickly found success in serving both the institutional and retail market clients - simultaneously. Wall Street firms also took advantage of the computer revolution that had coincided with the investor revolution and now offered unprecedented levels of access to all investors. This all had the end effect of turning the financial services industry on its head. As the United States GDP soared - the markets boomed. The Bull Market era of the 80's had begun.
Mr. McKenna joins the Institutional and Retail Markets division of Jefferies & Company -at the firms New York City headquarters. The unit - called the Corporate Cash Management Group - was an outgrowth of the legendary 3rd Market trading firms newly concentrated efforts on providing cash management and retail investment solutions for corporation clients and their senior managers.
Mr. McKenna and a team of 5 are recruited by Prudential Equity Group ( Known as Prudential Bache Securities) to expand the firms presence in corporate cash management. As a founding partner of the group that is based in the Melville, New York - the team raises over $100 million of new capital from corporate clients in 1985. The Prudential Insurance Company found this business model to be exceptionally successful and uses it as a blueprint for a nationwide roll-out of individualized account management offerings for their retail investors. The model becomes an offering called MACS : Managed Assets Consulting Services.
Mr. McKenna was the first executive recruited in the establishment of a new Suburban Buffalo office for Merrill Lynch & Company. This office served both corporations and High Net Worth clients with investment and business financing solutions. In 1996, Mr. McKenna assisted senior executives in the post-IPO Non-Taxable exchange program of the Westinghouse Brake Corporation (now called Wabtec and listed on the NYSE: WAB). In 2003, the Buffalo office ranked first in the North East for Syndicated & Structured Loans. This was due to the efforts of Mr. McKenna and his work in the implementation of a complete restructuring and refinancing a package for a chain of grocery stores in Upstate Pennsylvania.
After spending 21 years as an executive and corporate manager for three of the largest and most successful Wall Street corporations, Mr. McKenna branches out and starts his own firm. With the financial commitment and encouragement of several corporate and individual clients - Main Line Capital Management is opened as a 'Family Office' management firm in Buffalo New York. The firm is designed to serve only a small group of High Net Worth Individuals and their immediate families.
Establishment of the MLCM, LLC Schwab Institutional platform with the addition of a services offering for retail clients.
Main Line Capital Management
East Aurora New York
174 Main Street : Suite 301
East Aurora, New York 14052
Phone (716) 840 2404
Cell/Text (716) 861 1264