Steve Morrissette's career includes large corporate experience in mergers & acquisitions, commercial banking, as well as entrepreneurial projects as an investor and founding CEO of several start-up businesses. In addition to 30 years of practitioner expertise, his academic career includes 15 years of full-time teaching and extensive scholarship on entrepreneurial finance including a comprehensive study of angel investors published in the Journal of Private Equity, many articles on the banking industry, and many presentations and journal articles.
His expertise includes: Strategic Planning, M&A, and Capital Planning. He works with publicly-held firms, privately-owned firms with a special emphasis on planning for large family-owned businesses.
Recent consulting projects include developing a strategic plan including M&A Plan ($700 mil firm in SE USA), developing ownership exit strategies/succession plans for 4 family/founder held business ranging in size from $10 to $50 million in EBITDA, strategic plan for an $75 million international internet based business, and an international strategic plan ($2 bil firm based in Saudi Arabia).
Formerly he was the founding CEO of First Community Financial Partners, a 4 bank holding company which grew to $1.2 billion in assets in 10 years which he took public and later sold. At First Community, he led 5 stock offerings raising over $100 million in equity.
He has made 11 angel investments, 4 search fund investments and has advised numerous start-up firms including mentoring Booth New Venture Challenge teams.
He serves on several corporate and non-profit boards.
His academic credentials include an MBA with honors in Finance and Strategy from the University of Chicago and a PhD in Entrepreneurial Finance from Union University. In addition to Booth, he is a Professor at the University of St. Francis in Joliet, IL and has guest lectured at the Northwestern Kellogg School of Management. His current research includes decision models for mergers and acquisitions including "A Framework for Validating and MA Deal Thesis" published in the Journal of Accountancy and Finance. He also recently published "An Investor's Guide to Search Funds" in the Journal of Private Equity; the article was co-authored with a Booth student.
Decision models used by firms to develop merger and acquisition strategies; new venture funding with a focus on angel investors and family office investors; small business funding with a focus on bank lending including impact of industry structure and regulation on small business lending; new venture formation/creation.
“An Investor’s Guide to Search Funds”, co-authored with Shamus Hines, Journal of Private Equity, Summer 2015, Vol. 18, No. 3: pp. 21–40.
Profiles and Investment Motivations of De Novo Bank Founding Investors. 2014. Berlin, Germany: Scholars Press. ISBN 978-639-71104-2.
“Parallels between Consolidation of the Commercial Banking and Hospital Industries”, International Journal of Business and Social Science, 5 (9), August 2014.
“A Framework for Validating an M&A Deal Investment Thesis”, Transaction Advisors, 2 (3), May 2014. Named as “Top 10 Most Read” articles by Transaction Advisors in 2014.
“The Trustee’s Journey: A board chair reflects on the rewards and responsibilities of hospital governance”, American Hospital Association Trustee Magazine, May 2014.
“Lessons from Commercial Banking Consolidation for the Hospital Industry”, American Hospital Association Trustee Magazine, October 2013.
“A Framework for Validating an M&A Deal Investment Thesis”, Journal of Accountancy and Finance, 13 (2), Summer 2013.
“Consolidation in the Commercial Banking and Hospital Industries: Parallels and Contradictions”, co-author with James Burdorfer and Jordan Shields, BoardRoom Press, Volume 23, No. 3, June 2013.
“Governance Issues in the Transition to Accountable Care”, Hospital Topics, 90 (4), December 2012.
“Silver Cross Responds to ACO Wake-Up Call”, American Hospital Association Trustee Magazine, April 2012. Named one of “Trustee’s Most Popular Articles” for 2012 (5 articles were named).
“The Honeymoon is Over: Managing the Board and CEO Relationship During Times of Stress”, Banking Law Journal, Vol. 129, January 2012.
“A Profile of Angel Investors”, Journal of Private Equity, June 2007. (In November 2009, this article was included in the list of “Most Cited Global Investment & Finance Articles” by Institutional Investor Journals.)
“The Characteristics and Motivations of Bank Angel Investors”, presented at Midwest Business Administration Association International Conference, March 28, 2007.
“Summary Profile of Bank Angel Investors”, Frontiers of Entrepreneurship Research 2006.
“Summary Profile of Angel Investors,” Proceedings of the Academy of Finance 2006 Annual Conference, April 2006.