Spotlight on Nick Mamaril, CPA
Chief Operating Officer and Chief Financial Officer

Oakwood Capital’s Managing Committee meetings always include a fair share of lively debate, the occasional differing of reasonable minds and no shortage of animated discussion. In fact, the exchange is frequently so spirited that it doesn’t occur to anyone that Nick Mamaril, Oakwood’s Chief Operating Officer and Chief Financial Officer, is quietly absorbing what is being said. At some point, however, Nick speaks up and, in precise words, will distill the essence of the discussion, crystallize and re-frame the topic under consideration, if necessary, or simply remind the group of the one critical thing they failed to consider. Sometimes, he does all three.

True efficiency includes economy of thought and Nick’s ability to quickly synthesize complex, multi-disciplinary concepts is legendary. A Certified Public Accountant by training, Nick is responsible for both Oakwood’s financial and operational matters, including management of the firm’s finances, financial statements, audits, human resources, compliance, portfolio accounting, reconciliation process and operations functions. In fact, you will find that most investment advisory firms need at least two people to do what Nick does by himself at Oakwood.

Nick began his career with the public accounting firm of SGV & Co., CPAs(member of Ernst & Young International). During his four years with that organization, he was in charge of independent audit engagements, provided management services to corporate clients and tax services to both corporate and individual clients in a variety of industries. This early training honed his penchant for precision and his exposure to financial services firms whetted an appetite for investing that continues to this day.

In 1972 Nick joined RNC Capital Management Co., a firm he would serve for the next 26 years, prior to co-founding Oakwood Capital Management LLC. He was appointed Chief Financial Officer of that organization in 1973, became a Principal in 1981 and Senior Vice President in 1983. He was a member of that organization’s Executive Management Committee and supervised that company’s financial accounting, portfolio accounting, operations, administration and personnel management functions.

During Nick’s tenure at his previous firm, he was directly responsible for the conceptualization, creation and development of all internal operating systems and undertook the herculean task of bringing that firm into conformity with AIMR Performance Presentation Standards. In addition, Nick was instrumental in the development, testing and implementation of the FIN system, a proprietary portfolio accounting, analysis and trading system. Oakwood uses that system today.

Nick obtained an undergraduate business degree from the University of the East and an MBA from the Anderson School at UCLA. From one of his early accounting courses, Nick remembers staying up all night to find a two-cent error in the financial statements that were part of his assignment. This meticulous nature is critical in both the accounting and investment management disciplines and is valued by all of us at Oakwood. Nick is a member of the American Institute of Certified Public Accountants (AICPA) and the Los Angeles Society of Financial Analysts.

Year-end is the busiest time of the year for Nick in that he must ensure that the firm is ready for year-end reporting to clients, something he considers to be a top priority. The year-end client report includes both a list of portfolio holdings and a complete tax summary with details of capital gains and losses, dividend and interest income and capital changes. Oakwood’s own financial statements and investment performance audits (Oakwood is AIMR Performance Presentation Standards compliant) also demand his full attention during this time. Although Nick always says that he is grateful to have built a strong and experienced operational staff, he still personally reviews each client report for completeness and accuracy prior to their being mailed to our clients.

Part of the culture Nick attempts to foster at Oakwood is one of complete professionalism. He is hard-working, a calm problem-solver, even-handed, fair in the management of people, and very interested in each employee’s career. Nick recalls by name nearly everyone with whom he has worked over the years and people who worked with all of us years ago regularly call him just to catch up.

Hence, Nick is definitely not a green eyeshade accountant. Another tribute to his multi-dimensional nature is his status as a very accomplished golfer. He is competitive in all of the “skins games” and counts a trip to the Scottish golf courses a few years ago as among the best vacations of his life. (We think his wife, Mabi, agrees, even though she didn’t see much of him during the daylight hours.) Nick also loves to read history, educational and “Grisham-type” books, is an avid hiker and is very interested in computers.

There’s no doubt that, in the balance sheet of life, Nick’s best asset is Mabi, to whom he has been married for 30 years. Nick and Mabi were thrilled when daughter Ruth, a film editor, chose initially to work in Los Angeles after completing her studies at Dartmouth in 1994. Son Jason, who is 22 years old, lives at home.

Nick Mamaril, Oakwood CFO and COO, does not have much free time. When he does have a moment, however, he pursues his other grand passion - investing. We are watching the performance of his individual account to see if we want to ask him to wear an analyst hat as well!