With more than three decades of experience in turnaround and restructuring, Michael Jacoby has built a reputation as a hands-on leader and trusted advisor in specialty finance. Now the Senior Managing Director and Strategic Advisory Practice Lead at Phoenix Management, a part of J.S. Held, Jacoby oversees a team of more than 60 professionals tackling distressed situations nationwide.
Jacoby joined Phoenix in 1992 after managing a $500 million loan portfolio at PNC Bank. Under his leadership, Phoenix became a top-tier turnaround firm and investment bank, culminating in its acquisition by J.S. Held in 2023. “I’ve been fortunate to save dozens of companies and tens of thousands of jobs,” he says. “That’s the most meaningful contribution I’ve made.”
Known for his direct, consensus-driven leadership style, Jacoby said he strives to be “the most prepared person in the room.” He adds, “I don’t mince words. Clear, crisp communication is essential — especially when you’re often the bearer of difficult news.”
Early challenges helped shape his approach. “At PNC, I asked to lead a bank meeting as the Agent Bank. That vote of confidence gave me the motivation and confidence I needed,” he says. He also recalled managing more than 400 employees at Philadelphia Gas Works at a young age, earning their respect through humility and hard work.
A Certified Turnaround Professional and Fellow of the American College of Bankruptcy, Jacoby remains deeply involved in industry organizations. He mentors emerging professionals, emphasizing initiative and integrity: “Success is largely dictated by the relationships you build. Never compromise your integrity — no matter what.”
Despite the demands of the job, Jacoby says the work continues to energize and inspire him. “It gives me joy and satisfaction. I learn something new with every assignment, and that never gets old.”
