The FENG Chicago (Downtown), IL Chapter

Next Meeting


09/12/2018 – 7:30 AM to 10:30 AM (Reserve a spot at this event)


Parker + Lynch
200 South Michigan Avenue, 8th Floor
Chicago, IL



How to Manage Catastrophic Risk in a Tax Efficient Manner


FENG strives to bring its membership a wide variety of relevant and useful topics throughout the program year. Occasionally, we receive referrals from other FENG chapters recommending a presentation deemed particularly effective and informative.

We received a referral for this month’s presentation from our affiliate in Indiana, and are pleased to present it to you this month.

Our speaker will be Stephen B. Fox, Senior Portfolio Management Director and Managing Director of Wealth Management with Morgan Stanley Wealth Management (Steve’s office is in the Detroit area, but his practice is nation-wide).

Steve’s educational topic will be the opportunity to manage catastrophic (low probability high severity) risk (virtually all CFOs manage risk) in a tax efficient manner utilizing an on-shore (Puerto Rico) captive (private) insurance structure.

Although Fortune 500 companies have been using a form of this structure for decades, the utilization of a segregated cell structure domiciled in Puerto Rico adds the opportunity for successful small and mid-sized business owners to incorporate this sophisticated risk management tool to assist in protecting and growing their companies.

Speaker Bio:

Steve Fox has spent his entire 28 year career with Morgan Stanley. His exclusive focus is on working with private business owners and their companies. He is a Managing Director, and is co-head of a national team – The Brunner Fox Group. Steve has developed extensive expertise in tax minimization and business risk mitigation strategies for business owners. Educationally, Steve earned a B.S. in Finance from Miami University, Oxford, OH, and an MBA in Finance/International Business from the Kelley School of Business, Indiana University, Bloomington, IN. He also has earned the prestigious CIMA designation from the Wharton School of Business, University of Pennsylvania, Philadelphia, Pennsylvania.


* 730a-800a - Informal networking
* 800a-810a - Opening remarks/housekeeping
* 810a-930a - Formal presentation
* 930a-1025a - Structured networking
* 1025a-1030a - Closing remarks

Details are as follows:
(1) Business Casual attire is appropriate.
(2) Our host, Parker + Lynch, will provide coffee/water/bagels..
(3) Transportation/Parking - The train is the best option as the meeting location is 8 blocks from Union Station and 10 blocks from Ogilvie (20-25 minute walk). CTA Bus #126 picks up at Chicago River & Jackson and drops off at Jackson & Wabash, two blocks from 200 South Michigan Avenue. Nearby parking is available at Grant Park South Garage, nearby at the center of Michigan Avenue.
(4) Suggested donation: $0.00.
(5) Bring 35-40 copies of your resume/handbill.

Please Register:

Members login: this will take you to your personal home page. Check box for this event.

Guests of members are welcome. Register on this link:

Also, please email Steve.

Alumni members are encouraged to attend this meeting and participate in the discussion - it is a great way to give back to the group, and to maintain and build your network.

We hope to see you at the FENG meeting. If you have any questions please contact:

Downtown Chicago Sub-Chapter Chairs:

Steve Eschbach
(312) 550-9965

Matt Oey
(312) 255-1887


About the Chicago (Downtown), IL Chapter

The overall Chicagoland area membership has nearly 3,000 members with more than half on the Alumni list (meaning -- employed or they have landed and are with a new employer).

Meetings are held in downtown Chicago. Watch the newsletter or announcements for meeting details.

Chapter Leadership

Matt Oey
(312) 255-1887
Senior finance executive with prior experience as CFO for InterDelta Corporation and PRT Bentoel, consumer product manufacturing companies in South East Asia. Currently a consultant specializing in process flow, risk analysis, business strategy, including Asia Pacific business development, and operations optimization. Target small medium enterprises (SME's) having an international focus.

Mr. Oey a CPA in Illinois, has a BS Engineering with a concentration in Biotechnology from the Johns Hopkins University and an MBA from the Wharton School - University of Pennsylvania.
Steve Eschbach
(312) 550-9965
Steven P. Eschbach, CFA, is the Principal & Founding Member of his independent consulting company, Eschbach & Associates, LLC. This Illinois-based firm is a continuation of the Connecticut-based firm he established in 2006, where he advised clients on various investor relations programs and appeared as a financial expert witness in utility rate cases for the State of Connecticut.

Most recently, Steve was the Vice President - Investor Relations for Integrys Energy Group, Inc. (NYSE:TEG), a $5.5 billion market cap holding company of five Midwestern utilities in Wisconsin, Illinois, Michigan and Minnesota, from 2007 to 2015. Integrys was acquired by Wisconsin Energy Corporation, and he departed the company upon the close of the merger transaction in June 2015.

Steve has held the lead investor relations role for several technology and energy companies such as FuelCell Energy, Inc., RMI.NET, Inc., Kinder Morgan, Inc., and Yankee Energy System, Inc. Prior to his investor relations roles at these companies, he was an expert financial witness in public utility rate cases for the State of Connecticut where he prepared and defended testimony in over a dozen proceedings on financial issues such as rate of return on rate base, return on equity, capital structure and other accounting topics.

Steve has a Bachelor of Science degree in accounting from the University of Connecticut (1980), and holds a Masters degree in Business Administration from the University of Hartford (1985). He attained his CFA Charter designation in 1989 and is an active member of a number of advisory committees of the CFA Chicago Society.

Steve has been a member of the National Investor Relations Institute (NIRI) since 1997 and is a past President of its Rocky Mountain (2001) and Connecticut/Westchester (2005-2007) chapters, and a former board member of the NIRI-Chicago chapter (2008-2013). He currently is a member of the NIRI-Senior Roundtable since 2013. Steve is the Co-Chair of The Financial Executives Networking Group’s Downtown Chicago Chapter. He is also a co-leader of the Career Transition Ministry of St. Raphael’s Parish and a current board member of the Knoch Knolls Homeowners Association, both in Naperville, IL. Steve also was a strategic advisor to the Sacred Heart Parish Pastoral Council in Southbury, Connecticut, and a voting board member of the Town of Southbury Pension and Investment Advisory Committee.

Future Meetings

07:30 AM to 10:30 AM
The Addison Group
125 South Wacker Drive, Suite 2700
Chicago, IL 60606

07:30 AM to 10:30 AM
560 West Washington Blvd., Suite 230
Chicago, IL 60661

07:30 AM to 10:30 AM
Advanced Resources
111 West Jackson Blvd.
8th Floor
Chicago, IL 60606

For Meeting Information, Please Contact:
Steve Eschbach
(312) 550-9965