Stanley J. Quay, Director of RP® Financial, LC., is a retired assurance partner who served as an integral part of Grant Thornton’s financial services efforts since 1978. Mr. Quay contributed to the rapid evolution of the financial services industry through his participation in a number of national precedents.

Early in his career, Mr. Quay executed and then successfully defended a concurrent loan sale strategy before the U.S. Supreme Court in the matter Cottage Savings vs. Commissioner. This landmark case has served as the basis for amplifying regulations to Internal Revenue Code §1001.

Since the mid 1980s, Mr. Quay has advised more than 100 initial public offerings (IPOs) and other major capital formation transactions. His clients were the first in the country to include an ESOP in an IPO, as well as the first to offer stock in a mutual holding company formation. Mr. Quay’s clients have obtained favorable Private Letter Rulings, enabling tax-free returns of capital out of both IPO and “second step” mutual holding company conversion transactions. Mr. Quay also has served more than 100 financial institutions in 40 states with assets ranging from $10 million to $10 billion.

Mr. Quay has extensive experience with governmental regulations including those of the Securities and Exchange Commission, the Office of Thrift Supervision, the Federal Deposit Insurance Corporation and the Department of the Treasury – Office of the Comptroller.

Mr. Quay’s expertise in business combinations led to his appointment as one of the authors of the American Institute of Certified Public Accountants’ revised Industry Audit Guide. He also represented America’s Community Bankers (ACB) before the Financial Accounting Standards Board (FASB) on business combination matters affecting financial institutions. Mr. Quay authored ACB’s comprehensive resource, The Accounting Guide.

Mr. Quay holds a Bachelor of Science degree in Accounting (summa cum laude) from the University of Cincinnati and an MBA in Finance from Xavier University.