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Empire State Realty Trust Inc (ESRT.N)

ESRT.N on New York Stock Exchange

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13 Dec 2018
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Summary

Name Age Since Current Position

Anthony Malkin

55 2015 Chairman of the Board, Chief Executive Officer

Peter Malkin

84 Chairman Emeritus

John Kessler

53 2015 President, Chief Operating Officer

David Karp

57 2017 Chief Financial Officer, Executive Vice President

Thomas Keltner

71 Executive Vice President, General Counsel, Secretary

Thomas Durels

56 2017 Executive Vice President - Real Estate

Steven Gilbert

71 2017 Lead Independent Director

William Berkman

53 Independent Director

Leslie Biddle

51 2017 Independent Director

Thomas DeRosa

60 Independent Director

S. Michael Giliberto

67 Independent Director

James Robinson

55 2015 Independent Director

Biographies

Name Description

Anthony Malkin

Mr. Anthony Edward Malkin is the Chairman of the Board, Chief Executive Officer of Empire State Realty Trust, Inc. Mr. Malkin joined our predecessor entities in 1989. Mr. Malkin has been a leader in existing building energy efficiency retrofits through coordinating the team of Clinton Climate Initiative, Johnson Controls, JLL, and Rocky Mountain Institute in a groundbreaking project at the Empire State Building (www.esbnyc.com). Mr. Malkin is a board member of the Real Estate Roundtable and Chair of its Sustainability Policy Advisory Committee and a member of the Urban Land Institute, the Board of Governors of the Real Estate Board of New York, the Partnership for New York City’s Innovation Council, the Building Committee of the Metropolitan Museum of Art, the Committee Encouraging Corporate Philanthropy, the Advisory Board of MissionPoint Capital Partners and the Advisory Council of the Harvard Stem Cell Institute. Mr. Malkin received a bachelor’s degree cum laude from Harvard College.

Peter Malkin

Mr. Peter L. Malkin is the Chairman Emeritus of Empire State Realty Trust, Inc. Mr. Malkin joined his father-in-law and Malkin Holdings LLC’s co-founder, Lawrence A. Wien, as a principal of Malkin Holdings LLC in 1958, and was responsible for the syndication and supervision of property acquisition transactions completed by Malkin Holdings LLC. Peter L. Malkin is the founding chairman and a director of the Grand Central Partnership, The 34th Street Partnership and The Fashion Center Business Improvement District, each of which is a not-for-profit organization that provides supplemental public safety, sanitation and capital improvement services to a designated area in midtown Manhattan. Peter L. Malkin is also Co-Chairman of the Emeritus Council of Directors of Lincoln Center for the Performing Arts, Inc. (having been the longest serving board member of that institution), Chairman of the Dean’s Council of the Harvard Kennedy School, Co-Chair Emeritus of The Real Estate Council of the Metropolitan Museum of New York, founding Co-Chair with Paul Newman and Co-Chair Emeritus of the Committee Encouraging Corporate Philanthropy, a Director Emeritus of U.S. Trust Corporation, a member of the Global Wealth Management Advisory Committee of Bank of America, a member of the Advisory Committee of the Greenwich Japanese School, a partner in the New York City Partnership and Chamber of Commerce and a director of the Realty Foundation of New York. Peter L. Malkin received a bachelor’s degree summa cum laude, Phi Beta Kappa, from Harvard College and a law degree magna cum laude from Harvard Law School.

John Kessler

Mr. John B. Kessler is the President, Chief Operating Officer of Empire State Realty Trust Inc. From 2010 to 2013, Mr. Kessler was a Managing Director in the credit business for Fortress Investment Group LLC (NYSE: FIG), where he focused on real estate. From 1993 to 2010, Mr. Kessler held various positions in real estate at Morgan Stanley (NYSE: MS), including Global Chief Financial Officer for the Morgan Stanley Real Estate (MSRE) investing business and Managing Director. He also managed MSRE’s core equity funds and separate accounts business. Mr. Kessler is a member of the Urban Land Institute and the Real Estate Board of New York. Mr. Kessler received a bachelor’s degree cum laude from Harvard College where he studied Engineering Sciences and an M.B.A. from the University of Chicago Booth School of Business.

David Karp

Mr. David A. Karp is the Chief Financial Officer, Executive Vice President of Empire State Realty Trust Inc. Mr. Karp is the Chief Financial Officer, Executive Vice President, Treasurer of Empire State Realty Trust, Inc. Mr. Karp joined our predecessor in November 2011 and is responsible for our activities relating to finance, capital markets, investor relations and administration. Prior to joining our predecessor, from February 2006 to February 2011, Mr. Karp served as Managing Director and Chief Financial Officer, and from February 2009 to February 2011, he served as Chief Operating Officer of Forum Partners Investment Management, a global real estate private equity firm, where he was responsible for both firm-level and fund-level financial management and strategy, including risk management, treasury, foreign exchange and interest rate hedging, budgeting and debt financing. From January 1996 to August 2005, Mr. Karp served as President, Chief Operating Officer and Chief Financial Officer of Falcon Financial Investment Trust (NASDAQ: FLCN), a publicly-traded real estate investment trust, and its predecessor. Mr. Karp received a bachelor’s degree summa cum laude in Economics, Phi Beta Kappa, from the University of California, Berkeley, and an M.B.A. in Finance and Real Estate from the Wharton School at the University of Pennsylvania.

Thomas Keltner

Mr. Thomas N. Keltner is the Executive Vice President, General Counsel, Secretary of Empire State Realty Trust, Inc. Mr. Keltner joined our predecessor in 1978, became its general counsel in 1997, and is responsible for leading a legal staff that provides and coordinates legal services in our transaction, compliance, and litigation matters. Mr. Keltner has served on the New York Advisory Board of the Stewart Title Insurance Company and as chairman and member of bar association committees on both real estate and business entities. He is a member of the Real Estate Board of New York. From 1974 to 1975, he served as law clerk to Judge Alfred P. Murrah, U.S. Court of Appeals (10th Circuit). Mr. Keltner received a bachelor’s degree cum laude from Harvard College and a law degree as a Stone Scholar from Columbia Law School.

Thomas Durels

Mr. Thomas P. Durels is the Executive Vice President, Real Estate of Empire State Realty Trust Inc. Mr. Durels is the Executive Vice President, Director of Operations and Leasing of Empire State Realty Trust, Inc. Mr. Durels joined our predecessor in 1990 and is responsible for our real estate activities, including property redevelopment, repositioning, leasing, management and construction. Prior to joining our predecessor, from February 1984 to April 1990, he served as Assistant Vice President — Engineering and Construction at Helmsley Spear, Inc., where Mr. Durels was responsible for construction and engineering of office, hotel, residential and retail properties, and he was also a licensed real estate salesperson, specializing in the sale of investment properties. Mr. Durels is a member of the Real Estate Board of New York, the Urban Land Institute and the Young Men’s and Women’s Real Estate Association, for which he served as Treasurer in 2003. Mr. Durels received a bachelor’s degree in Mechanical Engineering from Lehigh University.

Steven Gilbert

Mr. Steven J. Gilbert is the Lead Independent Director of Empire State Realty Trust Inc. Mr. Gilbert is an Independent Director of Empire State Realty Trust, Inc. Mr. Gilbert has over 40 years of experience in private equity investing, investment banking and law, and he has invested in and managed numerous companies during his career. He has served as Chairman of the board of directors of Gilbert Global Equity Partners, L.P., a private equity fund since 1998, as Vice Chairman of the Executive Board of MidOcean Capital Partners, L.P., a private equity firm since 2005, as Co-Chairman of Birch Grove Capital, a credit hedge fund since 2013, and as a Director of Waterpik, Inc., a manufacturer of personal and oral healthcare products since 2013. Mr. Gilbert also is a Director and member of the Nominating and Corporate Governance Committee of MBIA, Inc. (NYSE: MBI), a provider of financial guarantee insurance, fixed-income asset management and other specialized financial services since 2011, the Lead Independent Director and a member of the Audit Committee and Nominating and Corporate Governance Committee of TRI Pointe Homes, Inc. (NYSE: TPH), a single family home builder since 2013, and Chairman of CPM Holdings, Inc. (HKG: 0906), a manufacturer of process equipment used for oilseed and animal feed production. He was previously Vice Chairman of Stone Tower Capital, a leading independent investment manager, from 2010 to 2012 and Chairman and Senior Managing Director of SUN Group (USA), an investment firm, from 2007 to 2009. Mr. Gilbert received a bachelor’s degree in economics from the Wharton School at the University of Pennsylvania, a law degree from the Harvard Law School, and an M.B.A. from Harvard Business School.

William Berkman

Mr. William H. Berkman is an Independent Director of Empire State Realty Trust, Inc. Mr. Berkman is currently the Managing Partner of Associated Partners, L.P. and Liberty Associated Partners, L.P., both of which are private investment funds with controlling interests in wireless communications infrastructure companies, AP Wireless Infrastructure Services, LLC, PEG Bandwidth, LLC and AP Tower Holdings, LLC, and has served in these capacities since 2007 and 2001, respectively. Mr. Berkman also serves on the board of directors of Associated Partners GP Limited, the general partner of Associated Partners, L.P., and the board of directors of The Partnership for New York City (and the Partnership’s Investment Fund), which works with government, labor, and the nonprofit sector to promote economic growth and maintain the City’s prominence as a global center of commerce and innovation while contributing directly to projects that create jobs, improve economically distressed communities and stimulate new business creation. He served as the Chairman of the board of directors of CURRENT Group, LLC, a commercial fully-integrated broadband over power line (BPL) communications solutions provider, until 2011. Mr. Berkman held various executive positions at Associated Group, Inc., a public company that owned and operated various communications businesses, from 1994 to 2000, until it was sold to AT&T/LibertyMedia in 2000. He was the co-founder of Teligent, Inc., a wireless broadband company, of which he was a director until 2000. Mr. Berkman also co-founded Mobilcom, S.A. de C.V., a Mexican wireless operator subsequently sold to Nextel. Mr. Berkman has served on a variety of public company boards, including the board of directors of Liberty Satellite and Technology, Inc. and the board of directors of IAC/InterActive Corp. (NASDAQ: IACI), an internet company, for which he served as a director from 2006 until 2008.

Leslie Biddle

Ms. Leslie Dougherty Biddle is an Independent Director of Empire State Realty Trust Inc. Ms. Biddle is currently a Partner and President at Serengeti Asset Management. Prior to joining Serengeti in 2013, Ms. Biddle spent nearly 10 years at Goldman Sachs, where she was most recently Global Head of Commodity Sales and the Chief Financial Officer of the firm’s investments in the metals and mining sector. She held positions as head of Power, Metals/Industrial, Latin American and Environmental Commodities. Ms. Biddle was responsible for many of the structured transactions in the private equity and power spaces including the monetization of the Allegheny DWR Contract, the structuring of Calpine Construction Finance Company hedge, the Texas Genco acquisition, the Northern Tier Energy financing and the TXU leveraged buyout. Ms. Biddle was also a member of the firm’s Finance Committee, Business Practices Committee, Firmwide New Activity Committee, Structured Investment Products Committee, and European Audit and Compliance Committee. She was named Managing Director in 2004 and Partner in 2006. Prior to joining Goldman Sachs, Ms. Biddle was a Vice President at the AES Corporation focusing on project finance and power plant development. She also served as a Vice President at the Overseas Investment Corporation, providing political risk insurance and financing to U.S. companies expanding overseas. Ms. Biddle is a member of the Board of Directors of GoldMoney, Inc. (TSX). She holds an A.B. from Colby College, where she is Vice Chair of the Board of Trustees.

Thomas DeRosa

Mr. Thomas J. Derosa is an Independent Director of Empire State Realty Trust, Inc. Mr. DeRosa is currently Chief Executive Officer and a member of the board of directors of Welltower, Inc. (formerly, Health Care REIT, Inc.) (NYSE: HCN), a real estate investment trust that invests in senior living and health care real estate. Previously, he served as the Vice Chairman and Chief Financial Officer of the Rouse Company, a leading owner, operator and developer of commercial real estate and master planned residential communities, from September 2002 until November 2004 when it was merged with General Growth Properties, Inc. (NYSE: GGP). Prior to joining the Rouse Company, Mr. DeRosa spent over 20 years in investment banking. From 1992 to September 2002, Mr. DeRosa held various positions at Deutsche Bank AG (NYSE: DB), including Global Co-Head of the Health Care Investment Banking Group, and at Alex Brown & Sons, including Managing Director of the Real Estate Investment Banking Group. Mr. DeRosa also served as a member of the board of directors of Dover Corporation (NYSE: DOV), a manufacturer and service provider for a broad range of specialized products and components, from 2007 to 2010, and as a member of the board of directors of CBL & Associates Properties, Inc. (NYSE: CBL), a real estate investment trust that invests in mall properties, from 2010 to 2015. Mr. DeRosa is also a member of the board of directors of Value Retail PLC, a U.K.-based owner, operator and developer of luxury outlet shopping villages in Europe. Mr. DeRosa served on the board of directors of Georgetown University from 2007 to 2013. Mr. DeRosa received a bachelor’s degree from Georgetown University and an M.B.A. from Columbia University. Mr. DeRosa was selected to serve as a member of our Board of Directors because of his extensive experience as a senior executive and director of public NYSE listed companies, including real estate investment trusts.

S. Michael Giliberto

Mr. S. Michael Giliberto is an Independent Director of Empire State Realty Trust, Inc. Mr. Giliberto currently consults with investment management firms and has produced the Giliberto-Levy Commercial Mortgage Performance Index, an index that measures the investment performance of institutional-grade commercial mortgage whole loans, since 1993. He has consulted for several major real estate investment management firms and serves on the Advisory Committee on Real Estate at the University of Washington and on the Real Estate Advisory Committee for the New York State Common Retirement Fund. He previously served as Director of Portfolio Strategy and Senior Portfolio Manager at J.P. Morgan Asset Management from 2002 to 2010, and before that, he served as the head of Real Estate Research at J.P. Morgan Investment Management from 1996 to 2002. Prior to joining J.P. Morgan, Mr. Giliberto worked at Lehman Brothers, Inc. in the Fixed-Income Research department from 1993 to 1996 and at Salomon Brothers Inc. in the Real Estate Research department from 1989 to 1992. Before his career in the financial services industry, Mr. Giliberto was a professor in the Real Estate and Urban Land Economics Department at Southern Methodist University in Dallas, Texas. Mr. Giliberto has authored multiple publications about real estate investment, performance, asset allocation and capital markets, and he has been an Adjunct Professor at Columbia University’s Graduate School of Business since 2007. In the past, he has served on the Real Estate Information Standards Board, and he was a director of the Pension Real Estate Association, where he served as Treasurer and Chairman and was awarded the 1996 Graaskamp Award for research excellence. Mr. Giliberto received a bachelor’s degree from Harvard College, a master’s degree in business economics from the University of Hartford, and a Ph.D. in finance from the University of Washington, and is a Fellow of the Royal Institution of Chartered Surveyors.

James Robinson

Mr. James D. Robinson IV is an Independent Director Empire State Realty Trust Inc. Mr. Robinson has been active within the technology community for over 30 years as an investor, entrepreneur, and banker. Mr. Robinson has led investments in and served on the boards of more than forty companies, with a focus on technologies that leverage network effects and crowd-intelligence. Mr. Robinson is currently a director of 21, 8i, Netsertive, Noom, OLO, and OpenPeak. He is also a Co-Founder and Director of Abra, and a board observer at Bitpay and Mirror. In addition, he advises several seed companies. Recent-year exits include Wisdomtree (WETF), Vocera (VCRA) and iCrossing (Hearst). Prior investments include Broadsoft (BSFT), Enpirion (Altera), GoldPocket/Wireless (Tandberg/Motricity), Metapath (Marconi), Mixed Signals (Tektronix), Red Brick (REDB), RevolutionMoney (American Express), Rubric (Broadbase), SmartPay (Ping An), Telocity (Hughes), Vastera (VAST/JPM), and WeddingChannel (TheKnot.com). Mr. Robinson has been recognized on the Forbes Midas List of Top 100 VC’s. Mr. Robinson was previously with H&Q Venture Capital as a software and communications investor. Before that, he was with J.P. Morgan & Co. Mr. Robinson earned an M.B.A. from Harvard in 1992. While earning a double degree in Computer Science and Business Administration at Antioch College, Mr. Robinson worked as an engineering intern in the solar power division at General Electric; as a programmer for the Illinois state government; and later as an analyst for the 1984 Reagan-Bush Campaign in Washington, DC. During his third year in college he founded IV Systems, a builder of unix-based applications. Mr. Robinson is a director of the New York City Partnership Investment Fund and the HBS Alumni Angels VC Advisory Board.

Basic Compensation

Name Fiscal Year Total

Anthony Malkin

9,303,040

Peter Malkin

--

John Kessler

4,848,080

David Karp

3,420,280

Thomas Keltner

2,136,080

Thomas Durels

4,405,580

Steven Gilbert

289,436

William Berkman

201,834

Leslie Biddle

225,811

Thomas DeRosa

196,504

S. Michael Giliberto

211,541

James Robinson

187,463
As Of  31 Dec 2017