Dr. Saunders, the principal of Philip Saunders Associates (PSA), has over 30 years' experience in investment and finance. He has been a security analyst, in charge of investment policy analysis and asset/liability management for a major life insurance company, founder and president of a mortgage company, consultant to financial institutions on lending practices and loan quality, a trustee for the U.S. Bankruptcy Court, a member of investment committee's and boards, and a mutual fund trustee. He has been called upon to testify as to the standard of care, investment practices, and reasonableness of actions taken in investment and finance related cases.

Selected cases

For savings and loan association facing class action suit for having raised loan rates on outstanding mortgages, PSA provided analysis of reasonability of actions taken. Assignment involved reconstruction of history of period, including interest rates, economy, financial and lending markets, banking and thrift industry, and outlook of market participants. PSA also examined financial condition, asset/liability structure, interest margins, and profitability of association. PSA demonstrated that, in the circumstances, management had acted reasonably. Case settled on terms satisfactory to client.

In high-profile case in investment management community, PSA advised on standard of care, governance practices, and objectives of pension fund trustees. Client was former partner in major mutual fund and pension fund investment management company, charged by company with leaving, setting up a competing company, and taking clients. Dr. Saunders' testimony provided background for client's argument that enforcement of plaintiff's partnership contract was not in interests of pension trustees or beneficiaries and not in public interest.