Doheny worked as managing director for troubled assets at Deutsche Bank Securities.
[dohenyforcongress.com, accessed 4/23/10]
“Mr. Doheny, Watertown, said he led Deutsche Bank's investments in — and restructuring of — more than 100 troubled North American companies during an eight-year career. He left the New York City bank in 2008 to take a similar role at Fintech Advisory, a private partnership of fewer than 12 people.”
[Watertown Daily Times, 7/02/10]
Doheny worked as “managing director for distressed assets at Deutsche Bank from 2000 to 2008, where he helped purchase debt from failing companies like Air Canada, Pacific Gas & Electric and Adelphia.”
[Sacandaga Express, accessed 8/03/12]
Matt Doheny's restructuring of Adelphia on behalf of Deutsche Bank included firing approximately 500 employees, while executives received millions of dollars in bonuses and severance.
[Watertown Daily Times, 7/2/10, Bloomberg News, 9/16/04, Rocky Mountain News, 8/24/06]
“Distressed debt investors buy the bonds and loans of stricken companies at a big discount to their par value. They have a claim on the assets of the borrower and substantial profits can be made through gaining a higher settlement in the liquidation process or by accepting an equity stake in the restructured business.”
[Financial Times, 2/26/12]