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Balance Sheet Cash Flow Statement The Prudential Tower, 800 Boylston St., 34th Fl. Boston, MA 02199-8157 MA Tel. 617-638-2000 Toll Free 800-895-4283 Fax 617-638-2100 |
Type: Public
On the web:
http://www.firstmarblehead.com
Employees:
223
Employee growth: (40.7%)
With a Harvard education costing six figures, that government student loan just isn't going to cut it anymore. Enter First Marblehead. The company creates programs and provides services for lenders and schools who offer private (not secured by the government) student loans for undergraduate, graduate, and professional education, and to a lesser extent, continuing education and study abroad programs. In addition to marketing, servicing, and processing services, First Marblehad offered loans through federally chartered thrift Union Federal Savings Bank, acquired in 2006. First Marblehead has processed more than 1.4 million student loans. The firm eliminated 500 jobs (more than half of its personnel) in 2008.
Key numbers for fiscal year ending June, 2009:
Sales: ($290.0)M
Net income: ($363.0)M
Officers:
Chairman: Peter B. Tarr
President, CEO, and Director: Daniel M. (Dan) Meyers
Managing Director, CFO, Treasurer, and Chief Accounting Officer: Kenneth S. (Ken) Klipper
Competitors:
Bank of America
JPMorgan Chase
Sallie Mae
