Grain Management Welcomes Steven Smith as a Managing Director
Rhea-AI Summary
Grain Management, a trusted solutions provider in the broadband and communications industry, has announced the addition of Steven R. Smith as Managing Director on their Investment Team. Smith brings over 30 years of experience in advancing enterprise growth in the global TMT industry. Previously, Smith held executive positions at Verizon (NYSE: VZ), where he led Corporate Finance and played a key role in securing and managing Verizon's spectrum assets.
David J. Grain, CEO and Founder of Grain Management, highlighted Smith's commercial acumen and record of delivering results in transformative technological, regulatory, and competitive market environments. Smith's expertise in wireless spectrum transactions and deep understanding of the regulatory environment are expected to enhance Grain's ability to deliver exceptional results to clients.
Positive
- Addition of Steven R. Smith as Managing Director, bringing 30+ years of TMT industry experience
- Smith's expertise in wireless spectrum transactions and regulatory environment
- Expansion of Grain Management's team to capitalize on industry growth in immersive technology, generative AI, and 5G networks
Negative
- None.
News Market Reaction
On the day this news was published, VZ declined 2.04%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
"Steve brings a tremendous amount of commercial acumen and a record of delivering results within transformative technological, regulatory, and competitive market environments," said David J. Grain, the Firm's CEO and Founder. "His strategic leadership in the rapidly evolving digital landscape and deep insights into the complex fabric of spectrum-related opportunities adds to Grain's performance-based culture and reinforces our ability to deliver differentiated, exceptional results to our valued clients."
Prior to joining Grain, Smith developed his executive experience at Verizon (NYSE: VZ), where he most recently led Corporate Finance with oversight of the international carrier's enterprise-wide financial planning and analysis capabilities, its multi-billion dollar capital program, Wireless Business Development, as well as FP&A and Data Analytics Centers of Excellence. Smith also brings experience in wireless spectrum transactions, having played a key role in securing and managing Verizon's spectrum assets. His deep understanding of the regulatory environment, auction processes, and spectrum valuation equips him with unique insights into these critical assets that underpin global wireless connectivity.
Smith also previously served as Chief Financial Officer for multiple VZ organizations, as a member of the Management Audit Committee, and led Commercial Finance. With Verizon Wireless, Smith was the President and P&L owner of a significant revenue operating region and led all Strategic and Financial Planning. Smith began his career as an Engineer at Dover Electronics Manufacturing, a Dover subsidiary, and later at NYNEX Corporation, an early predecessor of Verizon. He holds an MBA from the University of Rochester and a Bachelor of Technology in Mechanical Engineering Technology from Binghamton University. He is a CFA® charterholder.
"I am delighted to be joining Grain," said Smith. "The Firm has built an enviable record of success. Over the past decade, I've had the opportunity to observe firsthand the value Grain brings as a trusted broadband technology and digital infrastructure partner. I look forward to working alongside an outstanding group of professionals, building on that success, and creating value for our current and future clients."
This new addition to the team continues Grain's expansion as a leader in the telecommunications and digital infrastructure industries. In 2022 and 2023, Grain made key strategic hires and appointments to its Investment and Senior Advisor teams, broadening the Firm's focus on global investment opportunities, and taking advantage of industry growth fueled by the momentum of immersive technology, generative AI, and the buildout of 5G networks.
About Grain Management
We believe broadband and digital infrastructure are foundational to the tech-enabled transformation occurring across all industries and facets of society. And our global team of seasoned and diverse professionals share a collective passion for the power of connectivity to strengthen communities and unlock human potential for all.
Founded in 2007, Grain Management is a leading, global investment firm. We specialize in digital infrastructure and are a trusted solutions provider to the broadband and communications industry. Our unique combination of sector knowledge, experience as operators, and disciplined analytical approach guide our differentiated investment strategy across fiber networks, data centers, wireless spectrum, cell towers, as well as managed and infrastructure services. For more information visit www.graingp.com.
Contacts:
Grain Public Relations
PR@graingp.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/grain-management-welcomes-steven-smith-as-a-managing-director-302250271.html
SOURCE Grain Management, LLC
FAQ
Who is Steven Smith and what role is he taking at Grain Management?
What was Steven Smith's previous role at Verizon (VZ)?
How does Steven Smith's experience benefit Grain Management?
What is Grain Management's focus in the telecommunications industry?
