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Executive Team
Executive Team
Martin Friedman
Martin Friedman
Co-Founder, Managing Member and Senior Portfolio Manager
Mr. Friedman founded FJ Capital Management LLC in 2007 and is the Senior Portfolio Manager of FJ’s Funds. In January 2008, he launched the flagship Financial Opportunity Fund, where he has successfully outperformed during historically volatile markets. In the Spring of 2015, he created FJ’s Financial Opportunity Long/Short Fund, a lower net, broader financial services fund with lower market volatility and beta. He launched the Financial Hybrid Opportunity Fund in 2017 to invest in micro-cap public and private financial companies.
Mr. Friedman currently serves on the Board of Directors for Dogwood State Bank based in Raleigh, North Carolina since May 2019 and he is a board observer for Grasshopper Bancorp based in New York. He served on the Board of Directors of Silvergate Bank in San Diego, CA from February 2019 to January 2020, and served on the Board of Directors of Denver, CO-based TIG Bancorp from December 2017 until October 2019. In 2013, as part of the recapitalization of Anchor Bank, Madison, Wisconsin; Mr. Friedman was elected to the Board of Directors where he served on the Board of the bank holding company and compensation committee until 2015. Mr. Friedman served on the Board of Directors of Guaranty Savings Bank in Metairie, Louisiana from 2008 to 2009, and Access National Bank (ANCX) in Reston, VA from 2009 to 2019.
Mr. Friedman brings over 31 years of experience in and around the commercial and investment banking industries, in which he applied and developed skills in financial analysis with an expertise in financial institutions, corporate finance, SEC and banking compliance and management. He was previously Director of Research for Friedman, Billings, Ramsey Group, a research and securities trading firm, from 1998 to 2007. Prior to that, he was a securities analyst, focusing on the financial services industry with the same firm from 1992 to 1998. Mr. Friedman graduated from the University of Maryland with a Bachelor of Science in Finance.
Andrew Jose
Co-Founder, Managing Partner and Chief Compliance Officer
Mr. Jose founded FJ Capital Management in 2007 and, as managing partner, is responsible for the day-to-day operations, marketing and business development. Mr. Jose helps the firm create and grow alternative investment vehicles, including its flagship Financial Opportunity Fund, an event-driven strategy focused on the U.S. community and regional bank sector; the Financial Opportunity Long/Short Fund, a lower net, broader financial services fund with lower market volatility and beta; and separately managed accounts. Mr. Jose also serves as Chief Compliance Officer and is responsible for all compliance matters.
He previously served on the Board of Directors of Davie, FL-based Regent Bancorp, where he served on the compensation committee. Mr. Jose brings more than 25 years of financial services industry experience in and around the asset management and investment banking industries.
Previously, Mr. Jose was senior vice president of institutional sales at Friedman, Billings, Ramsey Group, a research and securities trading firm, from 1999 to 2007. Prior to this, Mr. Jose spent seven years as a trade publication editor and managing editor at Phillips Business Information. Mr. Jose received a Bachelor of Science in Marketing from the University of Maryland in 1992 and served in the U.S. Army from 1985 to 1988.
Jeffrey Kashdin
Chief Operating Officer and Chief Financial Officer
Mr. Kashdin is the Chief Operating Officer and Chief Financial Officer of FJ Capital Management LLC and their affiliated investment funds. Mr. Kashdin is tasked with overseeing the firms operational and financial infrastructure. A seasoned alternative asset management executive with over 25 years of experience, Mr. Kashdin brings a wealth of financial service industry specific expertise to the FJ Capital team.
Prior to joining FJ Capital in December of 2013, Mr. Kashdin served as the Chief Financial Officer of Hovde Capital Advisors LLC and Hovde Private Equity Advisors, LLC an asset management and private equity firm focused exclusively on the financial services sector. As part of the executive committee and management team, Mr. Kashdin was instrumental in structuring and building alternative asset management business to over $1.2 billion in assets under management. Prior to 2009, Mr. Kashdin also held the Chief Financial Officer position at Hovde Financial, Inc, a leading U.S financial advisory group that provides a full-service suite of investment banking, capital markets, and financial advisory services focused exclusively on the banking and thrift industry.
Mr. Kashdin received his Bachelor of Science degree in Business Administration with a concentration in Accounting from the University of Delaware. He is a member of the American Institute of Certified Public Accountants and the Greater Washington Society of Certified Public Accountants.
Andrew Jose
Jeffrey Kashdin
Investment Team
Investment Team
Dan Altscher
Dan Altscher
Co-Portfolio Manager & Head of Macro Research
Mr. Altscher joined FJ Capital Management in 2016 and serves as Co-Portfolio Manager & Head of Macro Research for the Financial Opportunity Long/Short Fund and Market Neutral Strategy. His responsibilities include investment research and portfolio management with a focus on BDCs, Capital Markets, Homebuilders, REITs, Mortgaged Related Companies, and Specialty Finance. He currently is a member of the Board of Directors for Grasshopper Bancorp - based in New York, NY.
Prior to joining FJ Capital Management, Mr. Altscher was a Senior Research Analyst, Senior Vice President at FBR & Co. in equity research, covering a variety of REITs including residential and commercial mortgage REITs, net lease REITs, healthcare REITs, and farmland REITs. Mr. Altscher was also previously an Assistant Vice President at FBR & Co. in equity research, covering both life and property/casualty insurance companies. Prior to this, Mr. Altscher was an Investment Analyst at Hovde Capital Advisors, a long/short investment manager focused on financial services and real estate. Prior to this, Mr. Altscher was a Corporate Banking Analyst at Citigroup. Mr. Altscher has an MBA from Indiana University’s Kelley School of Business. He also has a BS from New York University’s Leonard N. Stern School of Business with a dual major in Finance and International Business, and a minor in History.
Michael W. Clarke
Senior Portfolio Advisor/Consultant
Mr. Clarke serves as Independent Senior Portfolio Advisor/Consultant to FJ Capital Management. He joins the FJ team with more than 35 years of bank operating experience. He currently serves on the board of the Business Finance Group, Inc., an SBA certified development company, and is a member of the Board of Directors for Linkbancorp, Inc in Camp Hill, PA. Mr. Clarke also serves on the Board of Directors of Georgia Banking Company, Inc (Private) in Sandy Spring, GA and is a Principal of Graystone Investment Fund, a multi-family real estate investment fund. He is an expert in Credit Risk Management, Strategic Planning, Mortgage, and Wealth Services.
Mr. Clarke is the former Director of Atlantic Union Bankshares (AUB) in Richmond, VA. He was the principal organizer of Access National Bank in 1999 and served as CEO and a director of the merger between Access National Bank and AUB in January 2019. Previously, Mr. Clarke served as Chief Credit Officer of Patriot National Bank in Vienna, VA from its inception in 1990 until the company was sold in 1997 to United Bankshares (UBSI) and remained in that same capacity through 1998. He received his BS in Finance from Virginia Tech.
Scott Cottrell
Co-Portfolio Manager
Mr. Cottrell joined FJ Capital Management in 2008 serves as Co-Portfolio Manager for the Financial Hybrid Opportunity Fund. His responsibilities include investment research and portfolio management with a focus on mid-west banks. Mr. Cottrell is a former director of Northern States Financial Corporation (NSFC) in Waukegan, Illinois and a former director of Floridian Community Bank, Inc. (Private) in Davie, Florida. He has over 25 years of experience in the financial services industry.
Previously, he spent five years at Friedman, Billings Ramsey Group, mostly as an equity research analyst specializing in community banks and thrifts. Prior to this, Mr. Cottrell served two years as a financial analyst for the CFO of Wells Fargo student loan pioneer, Servus Financial Corporation. He began his career as a commercial credit analyst at National City Bank. Mr. Cottrell has an MBA from Georgetown University and BS in finance and accounting at Bowling Green State University in Ohio. He is a Certified Public Accountant.
Tim Czyzewski
Trader
Mr. Czyzewski joined FJ Capital in 2022. His responsibilities include supporting the Head Trader with trade execution and the trade operational functions for the firm. Mr. Czyzewski brings more than 10 years of trading and operations experience in the financial services industry.
Prior to joining FJ Capital, Mr. Czyzewski was a consultant in the Financial Markets & Real Estate Group at PwC where he supported financial services clients with transaction and valuation work. Prior to joining PwC, he was a Managing Director at EJF Capital LLC where his responsibilities included trading fixed income, equities, and securitized products in the financial sector. Mr. Czyzewski graduated cum laude from Georgetown University in 2010 with a BS in Business Administration with dual concentrations in Finance and Accounting.
Derek Ferber
Co-Portfolio Manager
Mr. Ferber joined FJ Capital Management in 2013 and serves as Co-Portfolio Manager for the Financial Opportunity Fund. His responsibilities include investment research and portfolio management with a focus on Southern and Mid-Atlantic banks.
He was a member of the Board of Directors for Fort Walton Beach, FL-based Beach Bank, which sold to First Bancshares (NASDAQ: FBMS) in 2022. He served as a member of the Board of Directors for McHenry, IL-based McHenry Bancorp, Inc from 2018 to 2020. He was also a member of the Board of Directors of Ottawa, IL-based Centrue Financial Corporation (NASDAQ: CFCB), which sold to Midland States Bancorp, Inc. (NASDAQ: MSBI) in 2017. In addition, he was a Director of Bank of the Carolinas Corporation (OTC: BCAR), which sold to Bank of the Ozarks, Inc. (NASDAQ: OZRK) in 2015.
Prior to joining FJ Capital Management, Mr. Ferber worked in Equity Research at Stifel, Nicolaus & Company covering Mid-Atlantic and Southeastern community banks. Prior to Stifel, he served as a Senior Research Analyst in the Financial Institutions Group at SNL Financial, where he specialized in mergers and acquisitions in the banking sector. Mr. Ferber has a BA in Economics from the University of Virginia.
Jordan Fialkoff
Head Trader
Mr. Fialkoff joined FJ Capital Management in 2015. His responsibilities include managing the trading and trade operational functions for the firm while actively participating in the portfolio management process. Mr. Fialkoff is a seasoned trader with more than 25 years of capital markets experience on both the buy-side and sell-side with specific expertise in the financial sector.
Previously, he was a Partner and Managing Director at FBR Capital Markets, where he served as a trader specializing in the financial sector. In his various roles at FBR, Mr. Fialkoff was responsible for the trading and analysis of trading investment opportunities with an emphasis on community banks, thrifts, mutual holding companies, and specialty finance. In addition to trading and analysis, he was active in risk management, compliance, and client portfolio construction.
Mr. Fialkoff has a BS in Biology from Bucknell University in Pennsylvania.
Jin Huang
Co-Portfolio Manager & Director of Research
Mr. Huang joined FJ Capital Management in 2012 and serves as Co-Portfolio Manager for the Financial Opportunity Fund. His responsibilities include investment research and portfolio management with a focus on northeast and west banks. Mr. Huang has over 10 years of experience in the investment management industry. He served as a Board Observer of San Diego, CA - based Silvergate Bank from February 2019 to January 2020 and previously served as a Board Observer of Denver, CO - based TIG Bancorp from December 2017 through October 2019. Mr. Huang has a MS in Finance from George Washington University and a BBA in Finance from the University of Macau.
Vaibhav Vish
Co-Portfolio Manager
Mr. Vish joined FJ Capital Management in 2021 and serves as Co-Portfolio Manager for the Financial Opportunity Long/Short Fund and Market Neutral Strategy. His responsibilities include portfolio management, investment research, and risk management, with a focus on insurance, traditional real estate, specialty finance, financial technology, and traditional and alternative asset managers.
Previously, Mr. Vish was a Portfolio Manager at Millennium Management leading a team covering North American financials. Prior to this, Mr. Vish was an Analyst at Citadel, specializing in North American insurance companies. He began his career in investment banking at Lazard and subsequently worked at 3i in private equity and at a 3i portfolio company.
Mr. Vish graduated summa cum laude with a Bachelor of Science in Economics from The Wharton School, University of Pennsylvania with a quadruple major in Finance, Real Estate, Legal Studies & Business Ethics, and Entrepreneurship, and a minor in Religious Studies. Mr. Vish also received Beta Gamma Sigma and Theta Alpha Kappa honors and was a Joseph Wharton Scholar, Benjamin Franklin Scholar, and Wharton Research Scholar.
Serena Jin Wang
Analyst
Ms. Wang joined FJ Capital Management in 2017. She is responsible for investment research and assisting the Funds' Assistant Portfolio Managers. She manages the interview process and assists in recruiting for the one-year Internship program.
Previously, Ms. Wang served three years for Deloitte as a Senior Auditor and two years for Hejun Consulting Group in China as a Management Consulting Consultant. She also worked in an Investment Bank in Hong Kong as an analyst. Ms. Wang has a MS in Finance from George Washington University.
Scott Cottrell
Derek Ferber
Jordan Fialkoff
Jin Huang
Michael W. Clarke
Vaibhav Vish
Tim Czyzewski
Jin Wang
Operations Team
Operations Team
Lauren Burk
Lauren Burk
Director of Investor Relations
Ms. Burk joined FJ Capital in 2019 as the Director of Investor Relations. She brings more than 15 years of institutional marketing, sales, and trading experience in the financial services industry.
Prior to joining FJ Capital, Ms. Burk was a Partner at Compass Point Research & Trading, LLC, where she served as a sales trader and trader for more than 15 years. Before that, she was Director of Media Relations at Friedman, Billings, Ramsey. Ms. Burk received her MS from the S.I. Newhouse School of Public Communications at Syracuse University and her Bachelor of Arts from Franklin & Marshall College.
Aidan D'Anna
Investor Relations Associate
Ms. D’Anna joined FJ Capital Management in 2022. She focuses on streamlining and implementing marketing initiatives, including managing the data room and publishing marketing materials. Ms. D'Anna supports the Investor Relations team with external communication and research efforts. She also serves as Co-Chair of the 100 Women in Finance DC Chapter’s Early Career Committee.
Prior to joining FJ Capital Management, Ms. D’Anna spent a year as Marketing Intern. She graduated from Florida State University in May 2022 with a Bachelor of Science in Finance.
Alex Dalton
Vice President, Fund Accounting & Operations
Mr. Dalton joined FJ Capital in February 2020. He focuses on establishing, implementing, and maintaining best practices associated with accounting, compliance and operational aspects for FJ Capital Private Funds, and managed business accounts.
Prior to joining FJ Capital Management, Mr. Dalton spent four years in public accounting where he performed various audit, accounting, and tax assignments at Han Group LLC. Mr. Dalton graduated from Virginia Polytechnical Institute and State University in December 2015 with a Bachelor of Science in Accounting.
Erica Jarman
Executive Assistant
Ms. Jarman joined FJ Capital Management in 2015. She is responsible for supporting Mr. Friedman by coordinating and scheduling his daily calendar, travel arrangements, important meetings, and assisting the investment team when needed. In addition, she provides support to the operations team on any pending projects and serves as the liaison between FJ employees and IT group to include any other IT related items that FJ Capital may need.
Prior to FJ Capital, Ms. Jarman had eight years of experience working as an administrative assistant with Nephrology Associates and Orion Networking Solutions.
Susan Nadzam
Vice President, Compliance and Investor Relations
Ms. Nadzam joined FJ Capital Management in 2012, and serves as Vice President in Compliance and Investor Relations. She has more than 20 years of experience in administration and communications, and ten years working in compliance and investor relations. She works alongside the Chief Compliance Officer and Compliance Officer to ensure SEC filings, FINRA, and other compliance matters are addressed. Ms. Nadzam is responsible for managing the relationship between the Investor Relations Team and the Fund Administrator to ensure clients requests and needs are met.
Prior to FJ Capital Management, Ms. Nadzam worked for MorganFranklin Consulting, LLC as an Executive Assistant and Business Development Associate. Ms. Nadzam served in the United States Army for over 10 years, of which more than 7 years were with The White House Communications Agency and abroad. She specialized in Telecommunications and Communications Security (COMSEC). She received a Bachelor of Science degree in Business Management from National Louis University.
Alex Dalton
Erica Jarman
Susan Nadzam
Aidan D'Anna
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