Henry Silverman Biography and Professional Background

Henry Silverman is a seasoned entrepreneur and business leader. He's best known for his role as the founder of Cendant Corporation.

Silverman founded Cendant in 1997 through the merger of HFS Corporation and CUC International.

Henry Silverman was born in 1943 in New York City. He grew up in a family that valued education and encouraged his entrepreneurial spirit from a young age.

Henry earned a bachelor's degree in economics from the University of Pennsylvania in 1965. He was an active member of his fraternity during his college years.

After college, Henry worked as a management consultant for several years, honing his skills in business strategy and operations. He eventually became a partner at the consulting firm, where he advised clients on how to improve their business performance.

Henry's experience as a management consultant laid the foundation for his future success in the hotel industry.

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Henry Silverman's executive work history is a fascinating story of entrepreneurship and leadership. He began his career in business as an assistant to Steve Ross, who was assembling the future Warner Communications.

After graduating from Williams College with a BA in Art History in 1961 and earning a JD from the University of Pennsylvania in 1964, Silverman joined White, Weld & Company, an investment banking firm. He later pursued entrepreneurial ventures in the late 1960s and 1970s.

In 1984, Silverman joined Reliance Group Holdings, where he acquired Days Inn, the US hotel chain, in a $590 million deal. He made a profit of $125 million on the sale of Days Inn.

As president and CEO of Telemundo, the Spanish-language television network, Silverman led the company from 1986 through 1990. He also served as partner at Blackstone Group, a private equity firm, from 1990 until his tenure was cut short due to litigation.

In 1991, Silverman left Blackstone to head Hospitality Franchise Systems, an investment of Blackstone's that he had overseen. He would later build HFS into Cendant Corporation.

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In 1997, Henry Silverman led the formation of Cendant Corporation through a merger between his company, Hospitality Franchise Systems (HFS), and CUC, a direct marketing company.

This merger was a result of HFS's rapid growth and success, with the company's stock rising from $4 to $77 per share between 1992 and 1998.

The $14 billion merger formed Cendant Corporation, with Silverman initially assuming the chairmanship and Walter Forbes, CUC's founder and CEO, taking over as CEO.

However, just months after the merger, Cendant uncovered massive accounting improprieties at CUC, leading to a significant scandal.

This setback was a major challenge for Silverman, but he ultimately bounced back and led Cendant to outperform the markets in the early 2000s.

In 2002, Silverman signed a 10-year contract with Cendant, which included medical benefits, office space, and travel perks, including a corporate airplane and a company car and driver.

Here's a summary of the key players involved in the Cendant Corporation formation:

Henry Silverman began his career in business as an assistant to Steve Ross, who was assembling the future Warner Communications.

He graduated from Williams College with a BA in Art History in 1961 and later earned a JD from the University of Pennsylvania in 1964.

After a short stint in investment banking, Silverman pursued various entrepreneurial ventures in the late 1960s and 1970s.

In 1984, he joined Reliance Group Holdings, run by corporate raider Saul Steinberg, and later became president and CEO of Telemundo from 1986 to 1990.

During his time at Reliance, Silverman acquired Days Inn, a US hotel chain, in a $590 million deal, and is estimated to have made a $125 million profit on its sale.

In 1990, Silverman joined Blackstone Group as a partner, but his tenure was cut short due to litigation with Prudential Insurance.

He then headed Hospitality Franchise Systems, an investment of Blackstone's that he had overseen, and later built it into Cendant Corporation.

In February 2009, Silverman became the chief operating officer of Apollo Global Management, a New York-based private equity firm.

He served as a director and vice chairman at Apollo for three years before joining Guggenheim Partners as vice chairman of its investment management business.

At Guggenheim, Silverman will be involved in the firm's efforts to acquire Deutsche Bank's asset management business.

Silverman is known for his experience working with prominent figures on Wall Street and for building the 1990s-era conglomerate Cendant.

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Henry Silverman has had a long and distinguished career in finance and real estate. He is the CEO and owner of Silverman Real Estate Holdco and 54 Madison Capital.

He has held various leadership positions, including Global Head of Real Estate and Infrastructure at Guggenheim Partners, LLC, and Chairman of the Board and CEO of Cendant Corporation.

Henry Silverman is a seasoned finance and real estate expert with a long and distinguished career.

He's held top positions at several prominent companies, including Global Head of Real Estate and Infrastructure at Guggenheim Partners, LLC, and Chairman of the Board and Chief Executive Officer of Cendant Corporation.

Silverman has also served as Chief Operating Officer and Vice Chairman of Apollo Global Management, demonstrating his ability to take on various leadership roles.

He graduated from Williams College and earned his J.D. from the University of Pennsylvania Law School, showcasing his academic credentials.

As a seasoned professional, Silverman has also been involved in various other roles, including Chairman of the New York Convention Center Development Corporation and Vice Chairman of the Board of Commissioners for the Port Authority of New York and New Jersey.

Henry R. Silverman's connections are a fascinating aspect of his life. He was a prominent businessman and investor.

Silverman was the founder, chairman, and CEO of Cendant Corporation, a conglomerate that grew to become one of the largest companies in the world.

He was also the chairman and CEO of CUC International, Inc., a company that specialized in travel and entertainment services.

Silverman's connections go beyond his professional life, as he was a member of the New York Stock Exchange and the NASDAQ Stock Market.