Executive Team



Capitol Peak is managed by a team of seasoned executives with extensive background in financial services, government, investing, corporate advisory, investment banking, and strategic communications:

Name/Title Professional Background Educational Background
Leo M. Tilman
Executive Chairman
BlackRock, Bear Stearns,
Tilman & Company
BA and MA, Columbia U.
Exec. Ed, KSG, Harvard U.
Alfred J. Puchala, Jr.
Chief Executive Officer
Moelis & Company, Signal Equity Partners, Lazard Fréres, Morgan Stanley JD, Georgetown U.
MA, NYU; BA, Yale U.
Matthew Davis
Managing Director
Morgan Stanley, Moelis & Company, GE Energy, and the U.S. Navy MBA, NYU Stern
BS, Rensselaer Polytechnic Inst.
RuthAnne Dreisbach
Managing Director
Dreisbach Group, Credit Suisse, Goldman Sachs, Reuters BA, Rutgers College
AAS, School of Visual Arts
Max Holtzman
Vice Chairman
Senior Advisor to Secretary of USDA,  Public & Private Legal and Consulting JD, U. of Miami; BS, U. of Florida
Institute of Food and Ag. Sciences
Gen. Charles H. Jacoby, Jr.
Senior Vice Chairman
Four-Star General, US Army; Commander of NORAD and USNORTHCOM; Head of Strategy at
the Joint Chiefs; U.N. Military Rep.
BS, U.S. Military Academy – West
Point; MA, U. of Michigan
MS, School of Advanced Military
Studies; MA, National War College
Beverly Karns
Senior Advisor
Northern Trust, AllianceBernstein, DLJ, Credit Suisse, SG Warburg MBA, NYU Stern
BS, Iowa State U.
Kimberly Lake
Managing Director
The CT Fund for the Environment, Winthrop, Stimson, Putnam & Roberts JD, Georgetown U.
BA, Wellesley College
William F. Wechsler, CFA
Vice Chairman
U.S. Treasury, U.S. Dept. of Defense, Greenwich MPA, Columbia U.
BA, Cornell U.


 
 
 

 

Senior Team Bios


Leo M. TilmanExecutive Chairman


Leo M. Tilman is Executive Chairman of Capitol Peak Asset Management. Prior to founding the firm, he was President and CEO of Tilman & Company (now Capitol Peak Solutions), a strategic advisory firm serving corporations, financial institutions, governments, and institutional investors worldwide. Previously, Mr. Tilman held senior positions with BlackRock and Bear Stearns, where he was Chief Institutional Strategist and Senior Managing Director.

Mr. Tilman is the author of three books – Financial Darwinism (2009), Asset/ Liability Management (Ed, 2003), and Risk Management (2000). He is an adjunct faculty member of Columbia University, his graduate and undergraduate alma mater, and contributing editor of The Journal of Risk Finance. In 2010, in collaboration with the Nobel economist Edmund Phelps, he co-authored a Harvard Business Review proposal to create the First National Bank of Innovation. In a 2012 European Financial Review article, he redefined risk intelligence and designated it a new essential competency for companies and investors. He is the creator of the Corporate Risk Scorecard, a “Nutrition Label” for companies (Barron’s, 2013), and co-author of the “Brain as a Business Model” framework (EFR, 2014).

Mr. Tilman’s nonprofit work focuses on foreign affairs, economic development, and education. He is a board member of Atlantic Partnership, member of the Colorado Forum, a trustee of the Denver Museum of Nature and Science, and an international advisory board member of British American Business and the Center on Capitalism and Society at Columbia University.

Mr. Tilman has been profiled as a Business Visionary by Forbes, a distinction given to “influential authors, decision makers, and thought leaders in the field of business.” He was honored by the World Economic Forum among a select group of executives, public figures and intellectuals recognized for “their professional accomplishments, commitment to society, and potential to contribute to shaping the future of the world.”

Alfred J. Puchala, Jr.Chief Executive Officer


Alfred J. Puchala, Jr. is Chief Executive Officer of Capitol Peak Asset Management. Throughout his 30-year finance career, Mr. Puchala has been an alternative investment fund investor, strategic financial advisor and creator of various market based government related partnership initiatives. He has worked directly with the U.S. federal government, state and local entities as well as international bodies on a number of strategic financial assignments including loan portfolio monitoring, infrastructure finance, securitization policy and credit portfolio risk management.

Until January 2014, Mr. Puchala served as Managing Director for Moelis & Company in New York, overseeing Public Sector initiatives and advising private sector clients, governmental entities, and policy makers at the international, federal, state, and local levels.

Prior to this, he served as a co-founder and Managing Director of Signal Equity Partners where he managed private equity funds, including PE middle-market buy- out funds. He began his career in 1983 in investment banking at Morgan Stanley and subsequently Lazard Freres, completing mergers and acquisitions and corporate finance assignments in the telecommunications, media and technology sectors. While at Lazard in the early 1990s, he advised on the establishment of the U.S. Russia Investment Fund for the U.S. Treasury.

Mr. Puchala holds a B.A. cum laude from Yale University, a J.D. From Georgetown University and an M.A. in Economics from New York University. He has lectured on public/private partnerships and maintains a variety of civic volunteer activities at the board and personal levels. He is a member of the New York Bar Association.

Matthew Davis – Managing Director


Mr. Davis brings over 16 years of experience in Finance, Strategy, Energy & Operations to his role as Chief Operating Officer and Head of Business Development at Capitol Peak. Prior to joining Capitol Peak, Mr. Davis advised Morgan Stanley’s Chief Operating Officer as a member of the Firm Strategy & Execution group, developing and implementing strategic initiatives.

Prior to joining Morgan Stanley, Mr. Davis served as an investment banker at Moelis & Company, where he made significant contributions to the Firm’s Public Sector business, developing relationships at numerous federal departments and agencies, as well as state and local governments. Prior to joining Moelis & Company, Mr. Davis worked in business development for GE Energy and coordinated the work of R&D and business unit personnel in the development and implementation of new renewable energy products.

Mr. Davis spent over a decade in the U.S. Navy, serving as a Nuclear Submarine Officer. His service culminated in overseeing large scale operational planning and execution as an Operations Officer at a Department of Energy nuclear plant facility. He coordinated the joint efforts of the DOE, the DOD, and the private sector while managing a department of over 100 navy and civilian personnel. While onboard the USS Hampton, he acted as the Operations Officer, planning and executing strategic missions to support national security. In this role he held a Top Secret SCI clearance.

Mr. Davis holds a B.S., cum laude, in Nuclear Engineering and Engineering Physics from Rensselaer Polytechnic Institute where he earned the Alpha Nu Sigma award for excellence in scholarship from the American Nuclear Society. Additionally, he holds an MBA from NYU Stern School of Business. Mr. Davis is a certified Nuclear Engineer Officer by the Department of Energy and holds his Series 7, 63 and 79 licenses.

RuthAnne DreisbachManaging Director


Ms. Dreisbach brings over 20 years of experience in business strategy, communications, brand development and systems architecture to her role as Chief Marketing Officer at Capitol Peak. Prior to joining Capitol Peak she led the Dreisbach Group, a strategic branding, marketing and communications boutique she founded in 1998. The firm advised leading investment banks, alternative investment and asset management firms as well as financial technology firms in building their brands and reaching key stakeholders through multi-media communication programs.

Ms. Dreisbach’s notable advisory projects included: the design and development of online investor portals for the Wealth Management and Asset Management divisions of Credit Suisse as well as the design and development of their Investment Banking E-Communication platforms, a firm-wide non-real-time market data platform at Goldman, Sachs & Co., as well as interactive financial education and training programs at Morgan Stanley, U.S. Trust and Credit Suisse.

Prior to initiating her own firm, Ms. Dreisbach was an executive with Reuters, where she designed and managed the development and launch of the ReuterLink suite of products – a range of historical datafeeds and applications supporting Derivative Trading, Analytics and Operations at large global investment banks. She began her career as an analyst in Investment Banking at Shearson Lehman.

She holds a B.A. in Economics & English from Rutgers College; Series 7, 63 and 24 licenses; and professional education designations in graphic and interior design. She is a current member of the board of directors of the Financial Communications Society and a former board member of the Lar Lubovitch Dance Company and serves on the Communication Committee of 100 Women in Hedge Funds.

Max HoltzmanVice Chairman


Max Holtzman is Vice Chairman at Capitol Peak. Prior to joining Capitol Peak, Mr. Holtzman was appointed by President Obama in early 2009 as the Senior Advisor to the United States Secretary of Agriculture. Mr. Holtzman advised the Secretary on the development of new public-private partnerships and capital market access to supplement the USDA’s $200 billion portfolio of critical infrastructure and other loans. Mr. Holtzman successfully spearheaded the first White House Rural Opportunity Investment Conference which brought together senior leaders from the financial, government, infrastructure and project finance communities to identify challenges and opportunities in critical infrastructure projects involving a multitude of federal, state and local parties.

Mr. Holtzman also served the President and Secretary as Acting Deputy Under Secretary for Farm and Foreign Agricultural Services, overseeing the Department’s international operations and as Acting Deputy Under Secretary of Marketing and Regulatory Programs. He had direct oversight of 8,000 employees and a nearly $1 billion budget. He advised the Secretary on all trade and international matters, biotechnology, international food security and aquaculture. He represented the United States in its negotiations with the Peoples Republic of China as four-time Delegate on the Joint Committee on Commerce and Trade and is regularly involved with a multitude of international trade issues, trade missions and trade negotiations. He also served as the United States Chairman of the North American Biotechnology Initiative, which includes the United States, Canada and Mexico. In his role, he held a Top Secret SCI Security clearance.


Prior to his appointment, Mr. Holtzman, an attorney for 20 years, provided strategic consulting to multi-national companies related to transportation infrastructure, project finance, public-private partnerships, health care and government procurement. He also served as a City Attorney and Special Counsel to several municipalities.

Mr. Holtzman is the Founding Chairman of Adopt-A-Classroom, a 16-year not-for-profit that supports teachers and students in all 50 states. He obtained his undergraduate degree in Agricultural Economics from the University of Florida’s Institute of Food and Agricultural Sciences and his law degree from the University of Miami. Married with three children, Mr. Holtzman and his family live in Washington, D.C.

General Charles H. Jacoby, Jr.Senior Vice Chairman


General Charles (Chuck) H. Jacoby, Jr. serves as a Senior Vice Chairman with Capitol Peak Asset Management. General Jacoby brings over 36 years of experience leading military, government, and international organizations. Prior to retiring from the U.S. Army, he was the first Army officer to Command North American Aerospace Defense Command (NORAD) and U.S. Northern Command, where he reorganized the 1,800 person bi-national and joint headquarters and integrated 35 federal, state, and non-governmental organizations for the defense and security of North America.

He has commanded at all levels in joint and Army assignments, from Company to Geographic Combatant Command, including combat operations in Grenada with the 82nd Airborne Division; Operation Enduring Freedom, Afghanistan; and Operation Iraqi Freedom, Iraq. He also served as Instructor and Assistant Professor in the Department of History at the U.S. Military Academy. As the Deputy Commander of Combined/Joint Task Force-76, he was responsible for the 18,000 troops conducting combat operations in Afghanistan; as the Commander of Multi-National Corps-Iraq, he commanded the 135,000 troops conducting combat operations across the country of Iraq. General Jacoby served as the Director of Strategy, Plans, and Policy for the Joint Staff, where he led planning for coalition and NATO operations in Libya, assisted in the Middle East peace process, and served as the U.S. Military Representative to the United Nations.

His military decorations include awards from the governments of Canada, Mexico, Honduras, Guatemala, and Colombia. An avid writer and historian, he has penned scholarly monographs on the efficacy of air campaigns and the organization of modern Brigade Combat Teams and Op-Eds on Ballistic Missile Defense and strategic deterrence. General Jacoby has served on several organizations, including the Council of Foreign Relations, the El Pomar Foundation, the Association of the United States Army, and the U.S. Naval Institute.

General Jacoby holds a B.S. from the United States Military Academy as well as an M.A. in History from the University of Michigan; an M.S. in Military Arts and Science from the School of Advanced Military Studies at Ft Leavenworth, Kansas; and an M.A. in Strategic Studies from the National War College at Ft McNair, Washington, D.C.

Beverly KarnsSenior Advisor


Ms. Karns brings over 20 years of investor relations and sales experience to her role leading Investor & Partner Relations at Capitol Peak. Prior to joining the firm, Ms. Karns spent the last five years as a Vice President in the Wealth Strategies Group at Northern Trust and Alliance Bernstein where her responsibilities included new business development and strategic financial planning for clients ranging from businesses to nonprofit organizations to family offices and high-net worth individuals. She spent the majority of her career in New York and Denver working in the institutional equity divisions of Donaldson, Lufkin & Jenrette (DLJ), Credit Suisse First Boston, SG Warburg and North South Capital, primarily providing equity research and trading to many of the largest fund companies in the nation. Ms. Karns opened and managed the Denver office for DLJ. Additionally, at North South Capital, she established Capital Markets operations with top tier investment banks.

Ms. Karns is actively involved in philanthropy, serving as Treasurer for the Endowment Board of The Gathering Place (shelter for homeless women and children) and actively involved on the Advisory Board of the Denver Scholarship Foundation and with the Kent Denver Fund. In addition, she holds membership in: Financial Executives International (FEI), Colorado Philanthropic Advisors Network (CPAN), Denver Estate Planning Council, Rocky Mountain Estate Planning Council, and The Association for Corporate Growth (ACG).

Ms. Karns holds a B.S. in Business Administration from Iowa State University and an M.B.A. in Finance from New York University’s Stern School of Business.

Kimberly LakeManaging Director


Ms. Lake serves as General Counsel at Capitol Peak, a role that leverages her significant experiences as a corporate attorney with expertise in Corporate Governance and Communications as well as public sector energy initiatives.

Recently, as Chair of the Town of Westport Green Task Force, she advised the First Selectman and Town Commissions and Departments on determining and setting environmental policy and decisions for the purpose of transforming Westport into a sustainable green community. Ms. Lake has extensive experience with Non-Profit Board Development gained during her tenures as Director of the Board of the Westport Weston Family Y and The Connecticut Fund for the Environment. Currently, she serves as Secretary of the Board of Project Return in Westport, CT, a non-profit that helps girls in crisis rebuild their lives, where she led a corporate governance assessment initiative in partnership with Deloitte & Touche. Ms. Lake started her legal career as an Attorney at Winthrop, Stimson, Putnam & Roberts (now Pillsbury Winthrop Shaw Pittman), where she focused on mergers and acquisitions and debt and equity transactions, including IPOs.

Ms. Lake has a J.D. from Georgetown University, where she wrote for the Georgetown Journal of International Law and held a Public Interest Law internship teaching consumer rights and contract law to inmates at Lorton Penitentiary in Lorton, VA, and a B.A. from Wellesley College.

William F. Wechsler, CFAVice Chairman

Mr. Wechsler brings over twenty years of relevant industry experience to his role as Vice Chairman of Capitol Peak, having previously served in senior leadership positions in both the private and public sectors.

Mr. Wechsler was previously a Managing Director of Greenwich Associates, a management consultancy specializing in the financial services industry, where he led the firm’s asset management practice. In that role he led the firm’s engagements with over a dozen of the world’s largest asset managers and institutional investors in Europe, Asia and the U.S., while also overseeing global market research and internal operations then representing over one quarter of the firm’s total revenue.

Over the years Mr. Wechsler has also served in multiple government positions, including as Special Advisor to the Secretary of the Treasury, as Director at the National Security Council and, most recently, as Deputy Assistant Secretary of Defense for Special Operations and Combatting Terrorism. At the Pentagon he directly managed a budget of $1.6 billion and helped provide civilian oversight of a command with a budget of approximately $11 billion, while advising the Secretary on sensitive operations in the Middle East, Africa, Asia and elsewhere.

Mr. Wechsler is a graduate of Cornell University and Columbia University’s School of International and Public Affairs. He has contributed chapters to two edited volumes and has been published in the Financial Times, Pensions & Investments, the New York Times, the Los Angeles Times, Foreign Affairs and The National Interest. He is a member of the Council on Foreign Relations and the CFA Institute.