Bruce King of Petaluma's Arrow Benefits Group wins 2019 North Bay CFO award

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Bruce King

Consulting CFO

Arrow Benefits Group

One Willowbrook Court, Suite 230, Petaluma 94954

415- 519-7440

www.arrowbenefitsgroup.com

BIO: I began my career with Coopers & Lybrand (now PWC) in New York City where I was exposed to a broad range of industries, accounting and financial matters. While offering a great foundation, it also helped me become clear that I wanted to work with small to mid-size businesses where I could have a greater impact. I returned to California to restart and run a family business my father had founded. After a successful sale I spent the next 16 years in CFO and COO roles in both owner-operator and private equity backed businesses. In 2016, thanks to two CEOs I knew that both needed my help part time I had the opportunity to start my consulting practice and for the past four years have been fortunate to have maintained four to five active clients in a range of industries.

Number of company employees: 35

Education: Bachelor of Arts, Economics, Colgate University;

Masters of Science, accounting and MBA finance, New York University

How has the current economic environment changed how you carry out your job at your current employer? The strong economy has led to different choices in terms of how to meet business needs. As an example, with the low unemployment rate, I’ve focused more internally for candidates that we can develop rather than looking to recruit the “perfect” candidate.

Tell us about a recent success your company has had. In 2018 we acquired four well-established independent agencies and merged with a fifth in parallel with combining with 15 firms across the country as part of an industry roll-up.

What advice would you give to young emerging financial leaders? Ask questions. Don’t think you have to have all the answers - no question is a bad question unless it’s asked over and over. If you don’t understand an answer to a question you’ve asked, ask for it to be explained another way.

What is a decision you wish you hadn’t made? What did you learn from it? I have few regrets professionally as I’m a firm believer that we’re presented challenges as a path to growth and learning. As I consider projects I wish had gone differently, during the 2008-11 recession when upgrading an accounting and project management system I selected the less expensive platform and chose to implement it internally as a way to save the company money we were struggling financially. Once substantially into the implementation it became clear that the vendor had misrepresented both the system capabilities and the ease of implementation. We got through it but it was painful.

What is your most memorable business experience?

Negotiating the sale of the business that my father had founded and we re-started together.

What is your greatest business success?

Supporting a client on the verge of bankruptcy through a restructuring and turnaround to a thriving, highly profitable business

What was your toughest business decision?

To leave my full-time job and to take the leap to start my consulting practice.

Tell us about your community involvement activities.

Supporting scouting has been my focus the past few years. I’ve held roles of Den Leader, Treasurer and Committee Chair for my son’s Cub Scout Pack and am Committee Chair for my daughter’s Scout Troop. I also lead training and act as a range safety officer on the Shooting Sports Committee for the Marin Council.

Bruce King

Consulting CFO

Arrow Benefits Group

One Willowbrook Court, Suite 230, Petaluma 94954

415- 519-7440

www.arrowbenefitsgroup.com

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