Post 200: Top D.C.-Area Businesses

MCG Capital / MCGC

About MCG Capital

1100 Wilson Blvd., Suite 3000, Arlington, Va. 22209
www.mcgcapital.com | 703-247-7500 | Founded: 1998

Industry: Financial Services | Category: Public Companies

MCG Capital co-founder Bryan J. Mitchell resigned as chief executive and left the company in August and was succeeded by co-founder Steven F. Tunney. Tunney said a factor prompting Mitchell's departure was his failure to pay interest on personal loans made to him by the company. MCG fined Mitchell $25,000 for not paying interest on the loan, but it also paid him $1.5 million in severance when he left.
The company elected attorney Jeffrey M. Bucher, the audit committee chairman, as chairman of the board, replacing Kenneth J. O'Keefe, who remains on the panel.
The company also disclosed that some executives did not make timely reimbursements to MCG for withholding taxes paid on their behalf to the IRS. MCG said in a filing with the Securities & Exchange Commission that "certain violations of the Company's code of business conduct and ethics did occur."
MCG's investment portfolio grew 15 percent last year, to $1.3 billion, and profit rose 48 percent.

CEO and president: Steven F. Tunney

2006 Financial Data

Revenues: $154,393,000 | Net Income: $100,949,000
Asssets: $1,319,268,000 | Earnings Per Share: $1.86
Stockholder Equity: $753,137,000 | Annual Dividend: $1.68
Total employees: 86 | Local employees: 86

Company Leadership

Bryan J. Mitchell Former CEO
Michael R. McDonnell EVP, COO and CFO
Steven F. Tunney President and CEO
B. Hagen Saville EVP, business development
Robert L. Marcotte SVP and managing director
Samuel G. Rubenstein EVP and general counsel
Robert J. Merrick EVP and chief investment officer

Source: Compensation data provided by Equilar, Inc..

Bryan J. Mitchell
Former CEO
$2,962,349
Salary: $277,067
Michael R. McDonnell
EVP, COO and CFO
$2,256,363
Salary: $382,292
Steven F. Tunney
President and CEO
$1,845,945
Salary: $429,167
B. Hagen Saville
EVP, business development
$1,552,992
Salary: $389,583
Robert L. Marcotte
SVP and managing director
$1,270,422
Salary: $279,492
Samuel G. Rubenstein
EVP and general counsel
$795,522
Salary: $325,000
Robert J. Merrick
EVP and chief investment officer
$495,132
Salary: $193,922

Did You Know

MCG Capital Corp. is a commercial finance company providing financing and advisory services to growing mid- size companies that have annual revenue of $20 million to $200 million. MCG is chartered as a business-development company, which means it pays out most of its profit to shareholders, so it qualifies for special tax breaks.

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