Stan HalesSTAN HALES | Chief Executive Officer, N2Ventures


tan Hales serves as CEO at N2Ventures. Prior to joining the firm, Stan was Global Head of the Financial Services Transfer Pricing Group and a senior PhD credentialed economist at Ernst & Young LLP. Prior to EY, Stan was a partner with PwC where he served for more than 15 years. Stan’s broad global experience in financial services, his work as an economist and focus on pricing and valuation have him widely regarded as one of the foremost experts in his field worldwide.

Stan leads the team at N2Ventures working with Private Equity and Venture Capital firms, Hedge Funds, and Family offices to increase operating performance and valuation of their portfolio companies. Client experiences include past and current projects over diverse industries and include engagements with Apollo Global Management, Bechtel, Bilfinger SE, Westfield, Caterpillar, Chevron, ExtraSpace Storage, Lionsgate Entertainment, Village Road Show, Platinum Equity, Canyon Capital, Itau Bank, Allstate Insurance, Macquarie Bank, Allianz Asset management, Western Asset Management, PayPal, eBay, Cisco Systems, and other Fortune 1000 companies.

In addition to his client work, Stan is an adjunct professor at the University of California Berkeley Haas School, and a guest lecturer at The Ohio State University. Stan holds a PhD and MA in Economics specializing in Foreign Currency Futures Options Valuation from The Ohio State University, was a Graduate Fellow in Economics at Rheinische Friedrich-Whilhelms-Universität Bonn, and received his BS in Chemistry from John Carroll University.

Stan and his wife live in San Francisco, CA. Stan enjoys sailing, cycling, scuba diving and is a licensed airline pilot.

A list of Stan’s representative publications include:

• Stanley J. Hales, PhD, and Andy Martyn, “Transfer Pricing for Financial Institutions – Busting the Myths,” BNA Transfer Pricing International Journal, (December 2013).
• Stanley J. Hales et al, “US: Final Cost Sharing regs” BNA Transfer Pricing International Journal, (February 14, 2012).
• Stanley J. Hales et al, “Determining Arm’s-Length Guarantee Fees,” 39, Tax Mgmt. Int’l J. 445 (August 13, 2010).
• Lucia Fedina, Stanley J. Hales, PhD, and Adam M. Katz, “Financial Institutions: the New Frontier of Profit Splits,” BNA Tax Planning International Transfer Pricing, 2007.
• Stanley J. Hales, PhD, and Daniela Ielceanu, PhD, “The “What,” the “Why,” and the “How” of Capital Intensity Adjustments and Inventory Accounting Method Adjustments in Transfer Pricing Analyses,” internal white paper for inclusion in the Global Symposium III Manual; 2006.
• Adam M. Katz, Richard S. Collier, PhD, Annie Devoy, and Stanley J. Hales, PhD, “Transfer Pricing for Inter-branch Dealings: An Application of the Authorized OECD Approach,” The Euromoney Foreign Exchange & Treasury Management Handbook, 2005.