Tracy Penwell

Tracy Penwell

Managing Director


Tracy Penwell is a Managing Director at IBG/Fox & Fin in the Phoenix, Arizona office.  Ms. Penwell’s has long demonstrated particular strengths as a strategic, financial and market leader.  She is a passionate evangelist for private sector company owners’—where the majority of our country’s jobs reside—successful migration of their companies to the next stage of ownership, thus securing (and diversifying) their own wealth and maintaining the continuity of small enterprise jobs, one of our economy’s most critical drivers.

Ms. Penwell’s unique combination of experience and skills enables her to help clients initiate, select key advisors and assist private sector owners through all aspects of the business transfer process.


Ms. Penwell has accumulated over 30 years’ experience in M&A Advisory and senior corporate, board, banking, securities industry and entrepreneurial leadership roles.  A Colorado native, Ms. Penwell’s career as taken her from the Arizona desert to New York City, the Caribbean, London and back to the desert in service to organizations including Chase Manhattan Bank, the Federal Reserve Bank of New York and the Government Securities Clearing Corporation.  Her work has encompassed strategy, policy, analytical, risk, product development and managerial roles.

Education, Awards, Publications:

Masters- International Finance, Thunderbird School of Global Management
SCE Diploma Bank Lending and Credit Analysis, New York University
Financial Risk Manager, Global Association of Risk Professionals

“President’s Award”, Federal Reserve Bank of New York, 1994   For team’s work in development of an innovative market-based valuation protocol for pledged collateral implemented throughout the Federal Reserve system and the Treasury’s TTL Program.

“The Credit Process, A Guide for Small Business Owners,” Federal Reserve Bank of New York, Publisher, 1994

“Risk Metrics Guide to Financial Risk Management,” (credited contributor) JP Morgan Chase Risk Metrics Group, New York, First Edition, 1999

Areas of Expertise:

Financial Markets Risk

Credit Risk

Risk Policy

Business Strategy