Jim McCartney is the Managing Director of Clark Street Capital, responsible for managing the CSC Specialty Asset Management (“SAM”) platform. Analytical and results-driven, Jim has a demonstrated track record of achievement in loan workouts, real estate debt, commercial and industrial (C&I) financing for both banks and finance companies.
Before joining Clark Street, Jim served in a variety of senior roles with Urban Partnership Bank in Chicago, a community development financial institution capitalized by a variety of Wall Street and regional institutions to acquire the assets of ShoreBank, subject to an FDIC loss share agreement on a highly distressed and complex $1.4 billion portfolio.
Joining in 2012, Jim was hired as a Director, Credit Policy & Risk Management where he was charged with appropriately risk rating the acquired portfolio, creating products and credit guidelines for the new bank to deliver capital to the market, and as senior credit officer for managed/special assets, commercial real estate and business banking. Acting within the constraints of the loss share agreement and in coordination with a third-party loan workout team, his efforts strongly contributed to successfully working through the acquired portfolio of vastly overleveraged commercial real estate, C&I and faith-based loans.
In 2016, Jim was promoted to the role of Chief Credit Officer, where he oversaw all functions of credit, managed/special assets and loan operations at the UPB. Jim’s efforts in maximizing recoveries and minimizing losses of distressed loans by utilizing a wide variety of strategies and negotiation tactics, coupled with a critical role in a bank-wide restructuring and downsizing effort resulted in a profitable institution. Ultimately this led to successfully emerging from regulatory consent order primarily due to severity of losses attributed to the acquired failed bank loan portfolio.
From 2008 to 2012, Jim was Chief Underwriter at Cohen Financial, a national real estate capital services company. Jim managed the analytical and consulting functions, such as distressed asset advisory, mark-to-market valuations, loan risk rating modeling, collateral opinions of value, and investment sale analysis. Additionally, Jim led a team to perform bank loan portfolio valuations for the FDIC of banks prior to receivership.
From 2005 to 2008, Jim served as Vice President Credit/Risk Manager at Merrill Lynch Capital, a national middle market commercial finance company, where Jim oversaw the credit and approval process of complex structured real estate investments in value creation projects, including debt, mezzanine, and equity.
Jim received his bachelor’s degree in Economics from Northwestern University and completed the Bank of Montreal/Harris Bank financial analysis and credit training program. Jim lives in Oak Park, Illinois with his wife and two children.