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Executive Team
Executive Team
Martin Friedman
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Martin Friedman
Co-Founder, Managing Member and Senior Portfolio Manager
Mr.
Friedman
founded
FJ
Capital
Management
LLC
in
2007
and
is
the
Senior
Portfolio
Manager
of
FJ’s
Funds.
In
January
2008,
he
launched
the
flagship
Financial
Opportunity
Fund,
where
he
has
successfully
outperformed
during
historically
volatile
markets.
In
the
Spring
of
2015,
he
created
FJ’s
Financial
Opportunity
Long/Short
Fund,
a
lower
net,
broader
financial
services
fund
with
lower
market
volatility
and
beta.
He
launched
the
Financial
Hybrid
Opportunity
Fund
in
2017
to
invest
in
micro-cap
public
and
private
financial
companies.
Mr.
Friedman
currently
serves
on
the
Board
of
Directors
for
Dogwood
State
Bank
based
in
Raleigh,
North
Carolina
since
May
2019
and
he
is a
board
observer
for
Grasshopper
Bancorp
based
in
New
York.
He
served
on
the
Board
of
Directors
of
Silvergate
Bank
in
San
Diego,
CA
from
February
2019
to
January
2020,
and
served
on
the
Board
of
Directors
of
Denver,
CO-based
TIG
Bancorp
from
December
2017
until
October
2019.
In
2013,
as
part
of
the
recapitalization
of
Anchor
Bank,
Madison,
Wisconsin;
Mr.
Friedman
was
elected
to
the
Board
of
Directors
where
he
served
on
the
Board
of
the
bank
holding
company
and
compensation
committee
until
2015.
Mr.
Friedman
served
on
the
Board
of
Directors
of
Guaranty
Savings
Bank
in
Metairie,
Louisiana
from
2008
to
2009,
and
Access
National
Bank
(ANCX)
in
Reston,
VA
from
2009
to
2019.
Mr.
Friedman
brings
over
31
years
of
experience
in
and
around
the
commercial
and
investment
banking
industries,
in
which
he
applied
and
developed
skills
in
financial
analysis
with
an
expertise
in
financial
institutions,
corporate
finance,
SEC
and
banking
compliance
and
management.
He
was
previously
Director
of
Research
for
Friedman,
Billings,
Ramsey
Group,
a
research
and
securities
trading
firm,
from
1998
to
2007.
Prior
to
that,
he
was
a
securities
analyst,
focusing
on
the
financial
services
industry
with
the
same
firm
from
1992
to
1998.
Mr.
Friedman
graduated
from
the
University
of
Maryland
with
a
Bachelor
of
Science
in
Finance.
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Andrew Jose
Co-Founder, Managing Partner and Chief Compliance Officer
Mr.
Jose
founded
FJ
Capital
Management
in 2007
and, as
managing
partner,
is
responsible
for the
day-to-day
operations,
marketing
and
business
development.
Mr. Jose
helps
the firm
create
and grow
alternative
investment
vehicles,
including
its
flagship
Financial
Opportunity
Fund, an
event-driven
strategy
focused
on the
U.S.
community
and
regional
bank
sector;
the
Financial
Opportunity
Long/Short
Fund, a
lower
net,
broader
financial
services
fund
with
lower
market
volatility
and
beta;
and
separately
managed
accounts.
Mr. Jose
also
serves
as Chief
Compliance
Officer
and is
responsible
for all
compliance
matters.
He
previously
served
on the
Board of
Directors
of
Davie,
FL-based
Regent
Bancorp,
where he
served
on the
compensation
committee.
Mr. Jose
brings
more
than 25
years of
financial
services
industry
experience
in and
around
the
asset
management
and
investment
banking
industries.
Previously,
Mr. Jose
was
senior
vice
president
of
institutional
sales at
Friedman,
Billings,
Ramsey
Group, a
research
and
securities
trading
firm,
from
1999 to
2007.
Prior to
this,
Mr. Jose
spent
seven
years as
a trade
publication
editor
and
managing
editor
at
Phillips
Business
Information.
Mr. Jose
received
a
Bachelor
of
Science
in
Marketing
from the
University
of
Maryland
in 1992
and
served
in the
U.S.
Army
from
1985 to
1988.
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Jeffrey Kashdin
Chief Operating Officer and Chief Financial Officer
Mr.
Kashdin is
the Chief
Operating
Officer and
Chief
Financial
Officer of
FJ Capital
Management
LLC and
their
affiliated
investment
funds. Mr.
Kashdin is
tasked with
overseeing
the firms
operational
and
financial
infrastructure.
A seasoned
alternative
asset
management
executive
with over 25
years of
experience,
Mr. Kashdin
brings a
wealth of
financial
service
industry
specific
expertise to
the FJ
Capital
team.
Prior
to joining
FJ Capital
in December
of 2013, Mr.
Kashdin
served as
the Chief
Financial
Officer of
Hovde
Capital
Advisors LLC
and Hovde
Private
Equity
Advisors,
LLC an asset
management
and private
equity firm
focused
exclusively
on the
financial
services
sector. As
part of the
executive
committee
and
management
team, Mr.
Kashdin was
instrumental
in
structuring
and building
alternative
asset
management
business to
over $1.2
billion in
assets under
management.
Prior to
2009, Mr.
Kashdin also
held the
Chief
Financial
Officer
position at
Hovde
Financial,
Inc, a
leading U.S
financial
advisory
group that
provides a
full-service
suite of
investment
banking,
capital
markets, and
financial
advisory
services
focused
exclusively
on the
banking and
thrift
industry.
Mr.
Kashdin
received his
Bachelor of
Science
degree in
Business
Administration
with a
concentration
in
Accounting
from the
University
of Delaware.
He is a
member of
the American
Institute of
Certified
Public
Accountants
and the
Greater
Washington
Society of
Certified
Public
Accountants.
Andrew Jose
Jeffrey Kashdin
Investment Team
Investment Team
Dan Altscher
Dan Altscher
Co-Portfolio Manager & Head of Macro Research
Mr.
Altscher
joined FJ
Capital
Management
in 2016 and
serves as
Co-Portfolio
Manager
& Head
of Macro
Research for
the
Financial
Opportunity
Long/Short
Fund and
Market
Neutral
Strategy.
His
responsibilities
include
investment
research and
portfolio
management
with a focus
on BDCs,
Capital
Markets,
Homebuilders,
REITs,
Mortgaged
Related
Companies,
and
Specialty
Finance. He
currently is
a member of
the Board of
Directors
for
Grasshopper
Bancorp -
based in New
York, NY.
Prior to
joining FJ
Capital
Management,
Mr. Altscher
was a Senior
Research
Analyst,
Senior Vice
President at
FBR &
Co. in
equity
research,
covering a
variety of
REITs
including
residential
and
commercial
mortgage
REITs, net
lease REITs,
healthcare
REITs, and
farmland
REITs. Mr.
Altscher was
also
previously
an Assistant
Vice
President at
FBR &
Co. in
equity
research,
covering
both life
and
property/casualty
insurance
companies.
Prior to
this, Mr.
Altscher was
an
Investment
Analyst at
Hovde
Capital
Advisors, a
long/short
investment
manager
focused on
financial
services and
real estate.
Prior to
this, Mr.
Altscher was
a Corporate
Banking
Analyst at
Citigroup.
Mr. Altscher
has an MBA
from Indiana
University’s
Kelley
School of
Business. He
also has a
BS from New
York
University’s
Leonard N.
Stern School
of Business
with a dual
major in
Finance and
International
Business,
and a minor
in
History.
Michael W. Clarke
Senior Portfolio Advisor/Consultant
Mr.
Clarke
serves as
Independent
Senior
Portfolio
Advisor/Consultant
to FJ
Capital
Management.
He joins the
FJ team with
more than 35
years of
bank
operating
experience.
He currently
serves on
the board of
the Business
Finance
Group, Inc.,
an SBA
certified
development
company, and
is a member
of the Board
of Directors
for
Linkbancorp,
Inc in Camp
Hill,
PA.
Mr. Clarke
also
serves
on the Board
of Directors
of Georgia
Banking
Company, Inc
(Private) in
Sandy
Spring, GA
and is a
Principal of
Graystone
Investment
Fund, a
multi-family
real estate
investment
fund. He is
an expert in
Credit Risk
Management,
Strategic
Planning,
Mortgage,
and Wealth
Services.
Mr. Clarke
is the
former
Director of
Atlantic
Union
Bankshares
(AUB) in
Richmond,
VA. He
was the
principal
organizer of
Access
National
Bank in 1999
and served
as CEO and a
director of
the merger
between
Access
National
Bank and AUB
in January
2019.
Previously,
Mr. Clarke
served as
Chief Credit
Officer of
Patriot
National
Bank in
Vienna, VA
from its
inception in
1990 until
the company
was sold in
1997 to
United
Bankshares
(UBSI) and
remained in
that same
capacity
through
1998.
He received
his BS in
Finance from
Virginia
Tech.
Scott Cottrell
Co-Portfolio Manager
Mr.
Cottrell
joined FJ
Capital
Management
in 2008
serves as
Co-Portfolio
Manager for
the
Financial
Hybrid
Opportunity
Fund. His
responsibilities
include
investment
research and
portfolio
management
with a focus
on mid-west
banks. Mr.
Cottrell is
a former
director of
Northern
States
Financial
Corporation
(NSFC) in
Waukegan,
Illinois and
a former
director of
Floridian
Community
Bank, Inc.
(Private) in
Davie,
Florida. He
has over 25
years of
experience
in the
financial
services
industry.
Previously,
he spent
five years
at Friedman,
Billings
Ramsey
Group,
mostly as an
equity
research
analyst
specializing
in community
banks and
thrifts.
Prior to
this, Mr.
Cottrell
served two
years as a
financial
analyst for
the CFO of
Wells Fargo
student loan
pioneer,
Servus
Financial
Corporation.
He began his
career as a
commercial
credit
analyst at
National
City Bank.
Mr. Cottrell
has an MBA
from
Georgetown
University
and BS in
finance and
accounting
at Bowling
Green State
University
in Ohio. He
is a
Certified
Public
Accountant.
Tim Czyzewski
Trader
Mr.
Czyzewski
joined FJ
Capital in
2022. His
responsibilities
include
supporting
the Head
Trader with
trade
execution
and the
trade
operational
functions
for the
firm. Mr.
Czyzewski
brings more
than 10
years of
trading and
operations
experience
in the
financial
services
industry.
Prior to
joining FJ
Capital, Mr.
Czyzewski
was a
consultant
in the
Financial
Markets
& Real
Estate Group
at PwC where
he supported
financial
services
clients with
transaction
and
valuation
work. Prior
to joining
PwC, he was
a Managing
Director at
EJF Capital
LLC where
his
responsibilities
included
trading
fixed
income,
equities,
and
securitized
products in
the
financial
sector. Mr.
Czyzewski
graduated
cum laude
from
Georgetown
University
in 2010 with
a BS in
Business
Administration
with dual
concentrations
in Finance
and
Accounting.
Derek Ferber
Co-Portfolio Manager
Mr.
Ferber
joined FJ
Capital
Management
in 2013 and
serves as
Co-Portfolio
Manager for
the
Financial
Opportunity
Fund. His
responsibilities
include
investment
research and
portfolio
management
with a focus
on Southern
and
Mid-Atlantic
banks.
He was a
member of
the Board of
Directors
for Fort
Walton
Beach,
FL-based
Beach Bank,
which sold
to First
Bancshares
(NASDAQ:
FBMS) in
2022. He
served as a
member of
the Board of
Directors
for McHenry,
IL-based
McHenry
Bancorp, Inc
from 2018 to
2020.
He was also
a member of
the Board of
Directors of
Ottawa,
IL-based
Centrue
Financial
Corporation
(NASDAQ:
CFCB), which
sold to
Midland
States
Bancorp,
Inc.
(NASDAQ:
MSBI) in
2017.
In addition,
he was a
Director of
Bank of the
Carolinas
Corporation
(OTC: BCAR),
which sold
to Bank of
the Ozarks,
Inc.
(NASDAQ:
OZRK) in
2015.
Prior to
joining FJ
Capital
Management,
Mr. Ferber
worked in
Equity
Research at
Stifel,
Nicolaus
&
Company
covering
Mid-Atlantic
and
Southeastern
community
banks. Prior
to Stifel,
he served as
a Senior
Research
Analyst in
the
Financial
Institutions
Group at SNL
Financial,
where he
specialized
in mergers
and
acquisitions
in the
banking
sector. Mr.
Ferber has a
BA in
Economics
from the
University
of
Virginia.
Jordan Fialkoff
Head Trader
Mr.
Fialkoff
joined FJ
Capital
Management
in
2015.
His
responsibilities
include
managing the
trading and
trade
operational
functions
for the firm
while
actively
participating
in the
portfolio
management
process.
Mr. Fialkoff
is a
seasoned
trader with
more than 25
years of
capital
markets
experience
on both the
buy-side and
sell-side
with
specific
expertise in
the
financial
sector.
Previously,
he was a
Partner and
Managing
Director at
FBR Capital
Markets,
where he
served as a
trader
specializing
in the
financial
sector.
In his
various
roles at
FBR, Mr.
Fialkoff was
responsible
for the
trading and
analysis of
trading
investment
opportunities
with an
emphasis on
community
banks,
thrifts,
mutual
holding
companies,
and
specialty
finance. In
addition to
trading and
analysis, he
was active
in risk
management,
compliance,
and client
portfolio
construction.
Mr. Fialkoff
has a BS in
Biology from
Bucknell
University
in
Pennsylvania.
Jin Huang
Co-Portfolio Manager & Director of Research
Mr. Huang joined FJ Capital Management in 2012 and serves as Co-Portfolio Manager for the Financial Opportunity Fund. His responsibilities include investment research and portfolio management with a focus on northeast and west banks. Mr. Huang has over 10 years of experience in the investment management industry. He served as a Board Observer of San Diego, CA - based Silvergate Bank from February 2019 to January 2020 and previously served as a Board Observer of Denver, CO - based TIG Bancorp from December 2017 through October 2019. Mr. Huang has a MS in Finance from George Washington University and a BBA in Finance from the University of Macau.
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Vaibhav Vish
Co-Portfolio Manager
Mr.
Vish joined
FJ Capital
Management
in 2021 and
serves as
Co-Portfolio
Manager for
the
Financial
Opportunity
Long/Short
Fund and
Market
Neutral
Strategy.
His
responsibilities
include
portfolio
management,
investment
research,
and risk
management,
with a focus
on
insurance,
traditional
real estate,
specialty
finance,
financial
technology,
and
traditional
and
alternative
asset
managers.
Previously,
Mr. Vish was
a Portfolio
Manager at
Millennium
Management
leading a
team
covering
North
American
financials.
Prior to
this, Mr.
Vish was an
Analyst at
Citadel,
specializing
in North
American
insurance
companies.
He began his
career in
investment
banking at
Lazard and
subsequently
worked at 3i
in private
equity and
at a 3i
portfolio
company.
Mr.
Vish
graduated
summa cum
laude with a
Bachelor of
Science in
Economics
from The
Wharton
School,
University
of
Pennsylvania
with a
quadruple
major in
Finance,
Real Estate,
Legal
Studies
&
Business
Ethics, and
Entrepreneurship,
and a minor
in Religious
Studies. Mr.
Vish also
received
Beta Gamma
Sigma and
Theta Alpha
Kappa honors
and was a
Joseph
Wharton
Scholar,
Benjamin
Franklin
Scholar, and
Wharton
Research
Scholar.
 2018.jpg)
Serena Jin Wang
Analyst
Ms.
Wang joined
FJ Capital
Management
in 2017. She
is
responsible
for
investment
research and
assisting
the
Funds'
Assistant
Portfolio
Managers.
She manages
the
interview
process and
assists in
recruiting
for the
one-year
Internship
program.
Previously,
Ms. Wang
served three
years for
Deloitte as
a Senior
Auditor and
two years
for Hejun
Consulting
Group in
China as a
Management
Consulting
Consultant.
She also
worked in an
Investment
Bank in Hong
Kong as an
analyst. Ms.
Wang has a
MS in
Finance from
George
Washington
University.
Scott Cottrell
Derek Ferber
Jordan Fialkoff
Jin Huang
Michael W. Clarke
Vaibhav Vish
Tim Czyzewski
Jin
Wang
Operations Team
Operations Team
Lauren Burk
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Lauren Burk
Director of Investor Relations
Ms.
Burk joined
FJ Capital
in 2019 as
the Director
of Investor
Relations.
She brings
more than 15
years of
institutional
marketing,
sales, and
trading
experience
in the
financial
services
industry.
Prior to
joining FJ
Capital, Ms.
Burk was a
Partner at
Compass
Point
Research
&
Trading,
LLC, where
she served
as a sales
trader and
trader for
more than 15
years.
Before that,
she was
Director of
Media
Relations at
Friedman,
Billings,
Ramsey.
Ms. Burk
received her
MS from the
S.I.
Newhouse
School of
Public
Communications
at Syracuse
University
and her
Bachelor of
Arts from
Franklin
&
Marshall
College.
_2022_06_07.jpg)
Aidan D'Anna
Investor Relations Associate
Ms.
D’Anna
joined FJ
Capital
Management
in 2022. She
focuses on
streamlining
and
implementing
marketing
initiatives,
including
managing the
data room
and
publishing
marketing
materials.
Ms.
D'Anna
supports the
Investor
Relations
team with
external
communication
and research
efforts. She
also serves
as Co-Chair
of the 100
Women in
Finance DC
Chapter’s
Early Career
Committee.
Prior to
joining FJ
Capital
Management,
Ms.
D’Anna
spent a year
as Marketing
Intern. She
graduated
from Florida
State
University
in May 2022
with a
Bachelor of
Science in
Finance.
Alex Dalton
Vice President, Fund Accounting & Operations
Mr.
Dalton
joined FJ
Capital in
February
2020. He
focuses on
establishing,
implementing,
and
maintaining
best
practices
associated
with
accounting,
compliance
and
operational
aspects for
FJ Capital
Private
Funds, and
managed
business
accounts.
Prior to
joining FJ
Capital
Management,
Mr. Dalton
spent four
years in
public
accounting
where he
performed
various
audit,
accounting,
and tax
assignments
at Han Group
LLC. Mr.
Dalton
graduated
from
Virginia
Polytechnical
Institute
and State
University
in December
2015 with a
Bachelor of
Science in
Accounting.
Erica Jarman
Executive Assistant
Ms.
Jarman
joined FJ
Capital
Management
in 2015. She
is
responsible
for
supporting
Mr. Friedman
by
coordinating
and
scheduling
his daily
calendar,
travel
arrangements,
important
meetings,
and
assisting
the
investment
team when
needed. In
addition,
she provides
support to
the
operations
team on any
pending
projects and
serves as
the liaison
between FJ
employees
and IT group
to include
any other IT
related
items that
FJ Capital
may
need.
Prior
to FJ
Capital, Ms.
Jarman had
eight years
of
experience
working as
an
administrative
assistant
with
Nephrology
Associates
and Orion
Networking
Solutions.
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Susan Nadzam
Vice President, Compliance and Investor Relations
Ms.
Nadzam
joined
FJ
Capital
Management
in 2012,
and
serves
as Vice
President
in
Compliance
and
Investor
Relations.
She has
more
than 20
years of
experience
in
administration
and
communications,
and ten
years
working
in
compliance
and
investor
relations.
She
works
alongside
the
Chief
Compliance
Officer
and
Compliance
Officer
to
ensure
SEC
filings,
FINRA,
and
other
compliance
matters
are
addressed.
Ms.
Nadzam
is
responsible
for
managing
the
relationship
between
the
Investor
Relations
Team and
the Fund
Administrator
to
ensure
clients
requests
and
needs
are met.
Prior
to FJ
Capital
Management,
Ms.
Nadzam
worked
for
MorganFranklin
Consulting,
LLC as
an
Executive
Assistant
and
Business
Development
Associate.
Ms.
Nadzam
served
in the
United
States
Army for
over 10
years,
of which
more
than 7
years
were
with The
White
House
Communications
Agency
and
abroad.
She
specialized
in
Telecommunications
and
Communications
Security
(COMSEC).
She
received
a
Bachelor
of
Science
degree
in
Business
Management
from
National
Louis
University.
Alex Dalton
Erica Jarman
Susan Nadzam
Aidan D'Anna
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