"The question is how compelling a valuation is this going to come at," Schutz says of the Bond Street IPO plans. "I think they've assembled a number of acquisitions of failed banks, I just don't know what the stream of earnings looks like." NAFH is run by Gene Taylor, a former Bank of America vice chairman. Marshall, who held a series of senior posts at Bank of America, was also CFO of Fifth Third Bancorp ( FITB). -- Written by Dan Freed in New York.