Al Checchi

Contributor

Al Checchi is a principal with Checchi Capital Advisers, a financial advisory firm that constructs globally indexed separate investment portfolios for individuals, trusts, and institutions.<br /> <br /> He received a Bachelor’s degree from Amherst College in Economics and American studies and earned an MBA at the Harvard Graduate School of Business in 1974.<br /> <br /> Checchi played a significant leadership role in the transformation of three major American corporations: Marriott Corporation in the 1970’s, Walt Disney, Inc. in the 1980’s, and Northwest Airlines in the 1990’s.<br /> <br /> Joining Marriott Corporation in 1975 as a financial analyst, Checchi held a succession of positions, eventually involving responsibility for all corporate and project financing and all new hotel development, foreign and domestic. He served on the Finance Committee, the principal executive governing board of the company, and at the time of his departure in 1982 directed one of the largest real estate development concerns in the United States.<br /> <br /> Checchi served as one of two non-family principals directing the Bass Brothers investment group from 1982-1986. While at Bass, Checchi negotiated the sale of Arvida Corporation to Walt Disney Inc. and participated in assembling a 25% control position and changing executive management of the company. Checchi spent six months at Disney restructuring its corporate financing and participating in the formation of a strategic plan that triggered a 10-year appreciation of common stock value of over 2000%.<br /> <br /> Checchi led a group that purchased Northwest Airlines in 1989. As co-chairman, Checchi directed Northwest through a severe period of industry downturn caused by the Gulf War, deep recession, and a predatory pricing war. Northwest expanded operations over 50% and created a series of domestic and international alliances that made Northwest the most profitable U.S. airline for the five-year period 1993-1997.<br /> <br /> In January 1997 Checchi announced his intention to seek the Democratic Nomination for Governor of California. He traveled the state extensively and published a Strategic Plan for the state. He was defeated in a three-way race in the June, 1998 primary.<br /> <br /> Checchi is currently a principal with Checchi Capital Advisers, a financial advisory firm that constructs globally indexed separate investment portfolios for individuals, trusts, and institutions.