Ernest Abati, CPA
Director of Corporate Advisory Services
Ernie brings more than twenty-five years of financial management experience to Durkin Advisory Services. With a successful track record in both banking and corporate finance, he brings a unique skill set to his engagements. Prior to joining Durkin Group, he was Vice President, Treasurer & Director of Financial Planning and Analysis for a $300 million publicly traded defense contractor. As a member of its initial turnaround management team, Ernie’s achievements include the following:
- Restructured the company’s debt to provide adequate working capital at critical points in the company’s business cycle
- Managed the banking relationships
- During an extended down cycle, managed cashflow and maintained vendor relationships
- Directed the preparation of the annual budget
- Managed the accounts receivable, accounts payable and payroll departments
- As Director of Risk Management ensured adequate insurance coverage while reducing annual expense by more than $300,000
- Evaluated plan providers, presented a recommendation to the Board and implemented a 401K plan for 1,300 employees
Ernie’s past experience includes senior portfolio management and workout officer positions with LaSalle Business Credit, The CIT Group and First Fidelity Bank. He managed portfolios consisting of performing and non-performing loans with up to $190 million in commitments. Throughout his career, he has regularly demonstrated his expertise in loan restructure, loan workout, portfolio management, underwriting and new business development. Prior to his career in banking, Ernie was an accounting technician in the FBI’s White Collar Crime Division.
Ernie holds a Bachelor’s degree in International Management and a Master of Science degree in Accounting from Pace University.