Lowell Douglas Limited

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The founding partners of Lowell Douglas are both Canadian Chartered Accountants with decades of experience in audit and advisory services. Steve Ryan is primarily focused on audit and audit-related functions, while Barry Munholland specializes in advisory services for both borrowers and lenders. In addition to the partners, the firm employs four full-time senior field examiners and has direct access to several contract examiners who could be used on a supervised basis.

Mr. Barry Munholland MBA, CA

Mr. Munholland is a Chartered Accountant (Ontario) with over 21 years of experience in the financial markets. Returning from a four-year volunteer experience as a secondary school teacher in Central Africa, he earned his professional accounting designation at Thorne Riddell (now KPMG). He then moved into the banking sector and joined Bank of Montreal in Corporate and Government Banking. Expanding his banking experience, he accepted a position in the Treasury Division where he focused his attention on risk management through the use of financial derivative products.

His success in banking led to an offer to join Manulife Financial where he was asked to set up and manage a new financial risk management desk. The resultant program was so successful, that Manulife expanded it to include additional areas of risk management and invited Mr. Munholland to participate in a special task force mandated to reconfigure the Company’s asset liability management programs. This led to his recruitment to Deutsche Bank Canada where he was made Senior Vice President and Treasurer. He was also asked to serve on the Board of Directors for Deutsche Morgan Grenfell Canada. During his tenure, Deutsche Bank grew to be the second largest foreign bank in Canada generating a consolidated profit that exceeded that of the US operations.

Turning his attention to the hedge fund industry, Mr. Munholland established his own fund, which traded in currencies and related derivatives. Achieving a modest level of success, the fund was sold to a private group in Chicago, which allowed Mr. Munholland to accept an offer to become CEO of Bermuda Commercial Bank in Hamilton, Bermuda. While in Bermuda, he served on the Board of Directors of the Bermuda Stock Exchange and was a member of a select committee organized by the Bermuda Monetary Authority to re-write the Bank Act to comply with the Basel standards on prudence and risk management.

Returning to Canada, Mr. Munholland managed his own consulting firm while operating as a partner in Cahill International. Cahill centered on large, international deals while his own firm focused on turn-around situations as well as financial management and risk management problems for small and medium size clients. This experience turned his attention toward the Asset Based Lending industry as a source of funding for some of his clients. His audit and risk management knowledge allowed him to gain a level of expertise that led him to form Lowell Douglas Limited in partnership with Mr. Steve Ryan.

Mr. Munholland holds a B.Sc. in zoology and psychology from McGill University, a B.Comm. and MBA in accounting and finance from the University of Windsor and a CA designation. He is a member in good standing of the Institute of Chartered Accountants of Ontario and the Canadian Institute of Chartered Accountants.



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