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Thought Leaders

Thought Leaders

Howard Rosen

Howard Rosen

Secretariat InternationalBrookfield PlaceTD Canada Trust TowerTorontoCanadaM5J 2S1

Thought Leader

WWL Ranking: Global Elite Thought Leader
WWL Ranking: Thought Leader

Questions & Answers

Howard Rosen is a managing director at Secretariat International with 38 years’ experience of advising on all aspects of business valuations, damages quantification and corporate finance-related matters. Howard has provided expert witness testimony in damages quantification and valuation matters in courts in Canada and the United States, and also in international arbitration hearings in North and South America, Asia, Africa, Europe and the Middle East, on over 100 occasions.

WHAT DO YOU ENJOY MOST ABOUT WORKING IN ARBITRATION?

International arbitration offers the opportunity to work in different countries, with different cultures, on some of the largest and most complex disputes in the world. The cases are impacted by commercial, political and economic forces. It is a constant challenge to your professional and creative skills that requires ongoing education, evolution of thinking, open mindedness and collaboration. I can’t think of another profession that offers this type of environment and excitement.

HOW HAS THE ROLE OF ARBITRATOR CHANGED OVER THE PAST FIVE YEARS?

The role of arbitrator has evolved as the complexity and quality of evidence has evolved. Arbitrators have always been expected to be adept at interpreting expert evidence; however, that expectation has grown with the need to have more detailed descriptions of how the expert evidence has been incorporated into the awards.

WHAT DID YOU FIND CHALLENGING ABOUT ENTERING ARBITRATION?

The biggest challenge in entering international arbitration is shaking off historical perceptions of how disputes are handled in national courts. It takes time to adapt to how international arbitrations are conducted, and to become aware of and sensitive to approaches to the preparation and delivery of expert evidence.

HOW HAS YOUR ROLE AS A CONSULTING EXPERT AFFECTED YOUR APPROACH AS AN ARBITRATOR?

I have only sat as an arbitrator on two occasions. I think my approach as a consulting expert has been affected by my experience as an arbitrator, as opposed to the other way around. Having gained the point of view of an arbitrator has made me a better consulting expert. The experience as an arbitrator afforded me the opportunity to learn from more experienced arbitrators how expert evidence is perceived, and from this I have learned how to better prepare my evidence and myself.

HOW IS INCREASING FOREIGN DIRECT INVESTMENT (FDI) CHANGING THE LANDSCAPE OF THE INVESTMENT TREATY MARKET?

FDI has been the main driver of investment treaty arbitration since I began working in the area in the mid-1990s. As emerging markets tried to attract capital to help grow their infrastructure and tax base, governments have had the incentive to sign investment treaties. As governments became more sophisticated, or changed with political trends, changes have been introduced that have had a significant impact on investors. This has had a direct effect on disputes under these treaties, with an increase in cases noted in most years.

HOW IS AN INCREASING AWARENESS OF SOCIAL ACCOUNTABILITY INFLUENCING CONSTRUCTION ARBITRATION?

Awareness of social accountability has had a significant impact on construction arbitration, but also on disputes arising from the natural resource industry, as well as real estate development, and transportation. When commercial actors impact the environment, there is always a tension between what is commercially expedient, and what is good for indigenous people and the local environment. We have seen awards that have denied compensation to investors in investment treaty arbitrations due to a “lack of social licence” and have also seen legitimate actions by governments to protect their citizens and the environment.

HOW DO YOU SEE YOUR PRACTICE DEVELOPING OVER THE NEXT FIVE YEARS?

My practice has developed over the past 20 years to include disputes in all corners of the world, with an even mix of investment treaty and commercial disputes.

I think the development over the next five years will be to have more testifying experts emerge with a greater variety of backgrounds representing the diversity of the people and cultures with which we interact. I believe it’s the natural evolution of our profession to support and expect this development.

Global Leader

Arbitration Expert Witnesses 2019

Professional Biography

WWL Ranking: Global Elite Thought Leader

WWL says

Howard Rosen is a star of the international expert witness market. Market sources describe him as “at the top of the valuation field” and report that he is “deservedly considered one of the best” damage quantification and valuation expert witnesses around.

Biography

Howard Rosen is a managing director at Secretariat International, based in Toronto. Mr Rosen has over 35 years’ experience of advising on all aspects of business valuations, damages quantification, and corporate finance related matters. He has acted as an adviser to private and public companies, regulatory bodies, and all levels of government on a wide variety of industries. His work experience covers assignments across North and South America, Europe, the Middle East, Africa, and Asia. Howard has provided expert witness testimony before Courts and Arbitral Tribunals on over 100 occasions.

Howard has acted as court-appointed administrator, monitor and inspector, and sat as a member of an arbitral tribunal and sole arbitrator. He is the co-author of two texts, and a number of chapters and articles on the quantification of economic damages; and he has lectured extensively to professional interest groups. Howard has acted as instructor at the NITA and FIAA expert witness trial practice programmes, the MIDS programme at the University of Geneva, and as an MBA instructor at York University’s Schulich School of Business in Toronto.

Howard has been listed as one of the leading business valuation and damages experts in Canada by Lexpert, and Internationally by Who’s Who Legal as one of the top experts in international commercial arbitration worldwide (appearing in the list every year since its inception in 2011). Howard has been included in Who’s Who Legal: Consulting Experts (a one-of-a-kind guide to the leading consulting experts across the globe) every year since its inception in 2016.  Howard is one of 20 arbitration expert witnesses in the 2018 Who’s Who Legal: Global Elite Thought Leaders list.

Howard has also acted as adviser on transactions in a wide variety of businesses, for both public and private equity investors, conducting strategic due diligence, valuations and deal structuring for both buyers and sellers. Howard has advised independent committees of boards of directors on non-arm’s-length transactions, and has also acted as the chair of independent committees of boards of directors for non-arm’s-length transactions.

Howard’s corporate finance experience extends to private equity investments, and managing investments through liquidity transactions, including sale to strategic buyers and IPO. Howard is the lead independent director and vice chairman of the board of AGT Foods, a publicly listed international agricultural commodities trading business and has overseen over 15 acquisitions in building AGT's global footprint.

Howard is a qualified valuator under the standards and guidelines for the valuation of mineral properties promulgated by the Canadian Institute of Mining's special committee on valuation of mineral properties (CIMVAL).

Energy Experts 2019

Professional Biography

WWL Ranking: Recommended

WWL says

Howard Rosen ranks as “one of the very best in the profession” according to sources. He is “an excellent testifying expert” who is “incredibly diligent and knowledgeable about his cases”.

Biography

Howard Rosen is a managing director at Secretariat International, based in Toronto. Mr Rosen has over 35 years’ experience of advising on all aspects of business valuations, damages quantification, and corporate finance related matters. He has acted as an adviser to private and public companies, regulatory bodies, and all levels of government on a wide variety of industries. His work experience covers assignments across North and South America, Europe, the Middle East, Africa, and Asia. Howard has provided expert witness testimony before Courts and Arbitral Tribunals on over 100 occasions.

Howard has acted as court-appointed administrator, monitor and inspector, and sat as a member of an arbitral tribunal and sole arbitrator. He is the co-author of two texts, and a number of chapters and articles on the quantification of economic damages; and he has lectured extensively to professional interest groups. Howard has acted as instructor at the NITA and FIAA expert witness trial practice programmes, the MIDS programme at the University of Geneva, and as an MBA instructor at York University’s Schulich School of Business in Toronto.

Howard has been listed as one of the leading business valuation and damages experts in Canada by Lexpert, and Internationally by Who’s Who Legal as one of the top experts in international commercial arbitration worldwide (appearing in the list every year since its inception in 2011). Howard has been included in Who’s Who Legal: Consulting Experts (a one-of-a-kind guide to the leading consulting experts across the globe) every year since its inception in 2016.  Howard is one of 20 arbitration expert witnesses in the 2018 Who’s Who Legal: Global Elite Thought Leaders list.

Howard has also acted as adviser on transactions in a wide variety of businesses, for both public and private equity investors, conducting strategic due diligence, valuations and deal structuring for both buyers and sellers. Howard has advised independent committees of boards of directors on non-arm’s-length transactions, and has also acted as the chair of independent committees of boards of directors for non-arm’s-length transactions.

Howard’s corporate finance experience extends to private equity investments, and managing investments through liquidity transactions, including sale to strategic buyers and IPO. Howard is the lead independent director and vice chairman of the board of AGT Foods, a publicly listed international agricultural commodities trading business and has overseen over 15 acquisitions in building AGT's global footprint.

Howard is a qualified valuator under the standards and guidelines for the valuation of mineral properties promulgated by the Canadian Institute of Mining's special committee on valuation of mineral properties (CIMVAL).

WWL Ranking: Global Elite Thought Leader

WWL says

Howard Rosen is “absolutely a must for inclusion” comment sources who applaud his “top-notch” international work on damages quantification and valuation across a range of industries.

Biography

Howard Rosen is a managing director at Secretariat International, based in Toronto. Mr Rosen has over 38 years' experience of advising on all aspects of business valuations, damages quantification, and corporate finance related matters. He has acted as an adviser to private and public companies, regulatory bodies, and all levels of government on a wide variety of industries. His work experience covers assignments across North and South America, Europe, the Middle East, Africa, and Asia.

Howard has provided expert witness testimony before Courts and Arbitral Tribunals on over 100 occasions. Howard has acted as court-appointed administrator, monitor and inspector, and sat as a member of an arbitral tribunal and sole arbitrator. He is the co-author of two texts, and a number of chapters and articles on the quantification of economic damages; and he has lectured extensively to professional interest groups. Howard has acted as instructor at the NITA and FIAA expert witness trial practice programmes, the MIDS programme at the University of Geneva, and as an MBA instructor at York University's Schulich School of Business in Toronto.

Howard has been listed as one of the leading business valuation and damages experts in Canada by Lexpert, and Internationally by Who's Who Legal as one of the top experts in international commercial arbitration worldwide (appearing in the list every year since its inception in 2011).

Howard is recognized consistently by Who’s Who Legal annually in a number of key listings, most recently including: WWL Thought Leaders: Global Elite 2019, WWL Canada - Arbitration Expert Witnesses 2018WWL Thought Leaders: Arbitration 2018WWL Consulting Experts – Financial Advisory and Valuation – Quantum of Damages 2019 and as an expert in the WWL Mining 2019 - Industry listing (inception of this list). In the 2016 Who’s Who Legal: Consulting Experts, a one-of-a-kind guide to the leading consulting experts across the globe, Howard was listed as one of the top five experts in North America.

Howard has also acted as adviser on transactions in a wide variety of businesses, for both public and private equity investors, conducting strategic due diligence, valuations and deal structuring for both buyers and sellers. Howard has advised independent committees of boards of directors on non-arm’s length transactions and has also acted as the chair of independent committees of boards of directors for non-arm's-length transactions.

Howard’s corporate finance experience extends to private equity investments, and managing investments through liquidity transactions, including sale to strategic buyers and IPO. Howard currently sits on the advisory committee of an institutional investor. Howard’s past board positions have included a global agriculture trading business (vice chair and lead independent director), a junior resource company (gas and mining), a medical software and devices company where he served as chair of the audit committee, as well as a specialty manufacturer.

Howard is a chartered professional account and chartered business valuator, and is a qualified valuator under the standards and guidelines for the valuation of mineral properties promulgated by the Canadian Institute of Mining's special committee on valuation of mineral properties (CIMVAL).

WWL Ranking: Global Elite Thought Leader

National Leader

WWL Ranking: Recommended
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