Our Board

A blend of industry executives, investment managers, management and shareholders provides valuable oversight and input.

Ara D. Cohen

Ara Cohen is the Co-Founder of Knighthead Capital Management, LLC where he serves as the Co-Portfolio Manager and co-leads the investment process. Knighthead is an investment firm that manages $9 billion of assets across a variety of investment vehicles including a long/short Evergreen Hedge Fund, a number of Closed-End Vehicles including a specialized travel fund, a dedicated Real Estate Lending business and an Insurance Asset Management business. Prior to co-founding Knighthead in 2008, Mr. Cohen joined Redwood Capital Management, LLC as a Principal in early 2001. From 1998 until 2001, Mr. Cohen was a Principal of King Street Capital Management LLC. From 1995 until 1998, Mr. Cohen was a Principal of Tamarix Capital Corporation. Mr. Cohen began his career in 1993 at Brown Brothers Harriman & Company. Mr. Cohen received his Bachelor of Arts, magna cum laude, from Bowdoin College.

Thomas Wagner

Mr.Wagner co-founded Knighthead Capital Management, LLC after being involved in the distressed and high yield business for many years. Prior to Knighthead Capital’s founding, Mr. Wagner was most recently employed by Goldman, Sachs & Co. where he was a managing director responsible for running the distressed and high yield credit trading desks. He also co-managed the firm’s Capital Structure Franchise Trading desk, which combined the trading of credit and equity products issued by stressed and distressed companies. Mr. Wagner oversaw 22 traders specializing in a variety of credit and equity products including cash bonds, credit default swaps, listed and OTC equities, convertible bonds, preferred stock and equity options. Mr. Wagner was also active in the firm’s mentoring, recruiting and diversity programs. Prior to joining Goldman in 2000, he was employed for two years at Credit Suisse First Boston (“CSFB”) as a high yield trader and special situations desk analyst. Mr. Wagner graduated Beta Gamma Sigma from Columbia Business School in 1999 and worked full time at CSFB during his second year of studies. Prior to attending business school, he worked for 5 years at Ernst & Young, LLP in the firm’s hedge fund practice providing audit and consulting services to a wide range of investment funds. During his tenure at Ernst & Young, LLP, Mr. Wagner was registered as a Certified Public Accountant in Massachusetts and the Cayman Islands. Mr. Wagner graduated from Villanova University with a Bachelor of Science in Accounting in 1992.

Gary M. Dombowsky
Director & Co-founder

Leading the Company from inception, Mr. Dombowsky brings with him more than twenty years of experience in the international direct insurance and reinsurance businesses and is recognized as an industry expert in the offshore financial services industry. In addition to strong risk management and operational expertise, Mr. Dombowsky has successfully driven business development efforts at the firm, growing the company from a start up to more than $4 Billion of assets and achievement of A- ratings from multiple rating agencies. Mr. Dombowsky began his career in commercial lending with RBC Financial Group in locations across Canada and the Caribbean before assuming executive level positions with insurance and reinsurance companies located in the United States and Bermuda. Mr. Dombowsky holds a B.A. (Honours) in Economics from University of Regina (Canada) and an M.B.A. from the University of Miami where he was recognized as class valedictorian.

Ed Massaro
Chief Executive Officer and Chief Investment Officer, Director

Mr. Massaro is President and Chief Investment Officer of Knighthead Holdings Ltd. and Knighthead Annuity and Life Assurance Company. Prior to joining Knighthead Annuity, Mr. Massaro was the Chief Operating Officer & Head of Business Development at Knighthead Capital Management, LLC, an SEC registered credit focused asset management company. He was responsible for managing various activities of Knighthead Capital, including business development, strategic planning, and certain insurance asset management investment responsibilities. Prior to joining Knighthead Capital, Mr. Massaro was a Managing Director in the Leveraged Finance and Sponsor Coverage group at HSBC Securities. Before joining HSBC, Mr. Massaro was the head of High Yield and Loan Markets at RBS Greenwich Capital where his responsibilities included the coordination of RBS’s origination, distribution and trading activities relating to high yield securities, leveraged loans, CDS and distressed loans. Prior to joining RBS, Mr. Massaro was also a Managing Director and Global Head of Leveraged Finance at UBS Investment Bank where his responsibilities included capital commitments and firm strategy for non-investment grade loans, bridge loans, high yield bonds and mezzanine securities, business origination, deal structuring and underwriting and managing the department’s marketing and execution resources. Additionally, Mr. Massaro was a member of the Investment Banking Operating Committee, Fixed Income Operating Committee and Global Syndicated Finance Commitments Committee. He was also a member of the UBS Investment Bank Board of Directors. Prior to joining UBS, Mr. Massaro worked for Lehman Brothers where he was a Sr. Vice President in High Yield Capital Markets, Salomon Smith Barney, and J.P. Morgan. Mr. Massaro received a B.A. in Chemical Engineering from Yale University and an M.B.A. from the Wharton School of Business at the University of Pennsylvania.

Michael Karmilowicz

Michael Karmilowicz is the Executive Vice President, President and Chief Executive Officer of Everest Insurance, a leading global provider of reinsurance and insurance, operating for over 50 years in the U.S., Europe, Asia, Canada, Bermuda, and Latin America. He is responsible for managing and overseeing all insurance operations globally offering property, casualty, and specialty products through its various operating affiliates located in key markets around the world. Mr. Karmilowicz has over 30 years of industry experience and has served in various leadership roles building, developing, and restructuring businesses and segments across multiple lines spanning several geographies. Before commencing his career at Everest, he was Head of the Management Solutions Group at Zurich Insurance. Prior to Zurich, he served as Vice President at Hartford Financial Products in New York where he was responsible for managing several dedicated underwriting units in management, professional, and transactional liability. Mr. Karmilowicz is a member of the Board of Directors at Knighthead Annuity & Life Assurance Company based in the Cayman Islands. He received his Bachelor of Arts degree from Villanova University.

Andrew Shanahan

Andrew Shanahan is the Head of Research and a Partner at Knighthead Capital Management, LLC. (“Knighthead Capital”). Prior to joining Knighthead in 2008, he spent six years working as a senior research analyst for Litespeed Partners. Mr. Shannahan oversees the Knighthead Capital research team through his investment expertise gained during fifteen years at Knighthead Capital, leading complex investment situations. Mr. Shannahan serves as a member of the Investment Committee of certain funds managed by Knighthead Capital and/or its affiliates and also serves as a Director of Hertz Global Holdings, Inc., Homer City Generating, ATI Physical Therapy and Birmingham City FC. Mr. Shannahan earned a BA degree in Economics and Operations Research from Columbia University in 2003.