Firm News

January 01, 2016

Winter 2015 Spotlight Employee: Steven Shapiro, CPA/PFS

 In honor and recognition of his 55th year with the firm, our Spotlight this quarter is on founder Steven L. Shapiro, CPA/PFS.

Suddenly it’s 1960 – October 1, 1960 to be exact. That’s the date when Steve Shapiro, a 19 year old senior in college was interviewed for a part-time position as a junior accountant. He was interviewed by Ray Silverstein and Marvin Alloy, their ages 33 and 36, respectively. Steve recalls driving home from the interview thinking it had gone well, being interviewed by these two old guys. Ah, perceptions and how they change! Apparently Steve was right about how the interview had gone – he began working for Marvin and Ray 9 days later. That was 55 years ago and a lot has happened since that interview. Steve graduated college of course, became certified in New Jersey and Pennsylvania, was elected to Temple University’s Accounting Hall of Fame, married Renee (celebrating their 51st anniversary last year) and had two daughters, Stacy and Marci, and four grandchildren. Stacy and Marci both earned Master’s Degrees, Stacy’s in Finance from Penn’s Wharton School and Marci’s in Broadcast Journalism from Syracuse University’s Newhouse School.

Early on in Steve’s accounting career he began an adjunct career in banking, first being named a Director of Fidelity Bank and Trust of NJ. Since that time he has held Director positions with six other banks including Met Life Bank, Howard Federal S&L, Jefferson Bank, 1st Peoples Bank of NJ, Carnegie Bank, and Fulton Bank. In 1995 he was approached to participate with a group in a proxy battle to take control of Sallie Mae (SLM Financial Corp listed on the New York Stock Exchange). The group was successful in that proxy battle and Steve began a 20 year run as a Director of Sallie Mae. Along the way he Chaired numerous committees there including Audit, Finance, Nominations and Governance, Strategic Planning, the Executive Committee and now the Compensation Committee. Outside of accounting, banking and Sallie Mae, Steve has also been active serving as a Commissioner on the Casino Reinvestment Development Authority (he was appointed Treasurer), served on the Executive Advisory Council of Rutgers University, the Board of the Jewish Community Center and Virtua Hospital’s Foundation Board. Steve has also lectured at Rutgers University on Guest Professor Days as well as having spoken to numerous groups including the American Society of Appraisers and others on real estate investment and the tax implications thereof. He has also been published in BarronsPhiladelphia Business Journal and The Philadelphia Inquirer on the tax aspects of the business. Along the way Steve was one of the first CPAs nationwide to pass a rigorous exam earning the prestigious Personal Financial Specialist (PFS) designation.

It’s this varied background which has enabled Steve to gain such well-rounded business knowledge and acumen. Steve remains very active at the firm and presently sits on the Board of Navient which is listed on the NASDAQ. Not a bad career for a boy born and raised in Camden!

Get our Alloy Spotlights in your Inbox by Signing up for our Newsletter