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May 5, 2009

Comcast CFO discusses high-profile job, Peabody roots

By Cate Lecuyer

As the chief financial officer for Comcast, Peabody native Michael Angelakis knows what matters.

"I'm looking forward to having dinner with my mom on Saturday," he said, just before a recent trip from Philadelphia back to his hometown.

"I spent all my childhood and teens on the North Shore," he said. "I have a lot of great friends."

Angelakis, 45, was in the area last month for Comcast Cares Day, where more than 50,000 employees across the country, and about 5,000 in New England, volunteer in their communities.

Locally, employees pitched in at Beverly Bootstraps, the Beverly library, the YMCA building in Danvers and Stiles Pond in Boxford. Angelakis helped clean up at the Stoneham Boys & Girls Club.

For the past two years, Angelakis has been the brains behind the cable company's initiatives — which range from more high-definition channels and on-demand options, to faster broadband for Internet service.

The company is also emerging with wireless and mobile capabilities and more collaboration among television, phone and Internet services — think watching HD movies on your computer, and listening to you voice mail from your TV.

"There's been a lot more innovation from our company," he said. "We clearly need to stay ahead of the curve."

Angelakis has made a career of doing that.

"I've actually had several careers," he said.

After graduating from St. John's Prep 1982 he went to Babson College and got into banking. He found his way to New York City, where he rose to vice president of Manufactures Hanover Trust Co. — now a part of JP Morgan. He was CEO of State Cable TV Corp. and Aurora Telecommunications in Maine, now part of Time Warner Cable.

In 1999, a couple of friends started Providence Equity Partners, and he moved again, this time to Rhode Island, with is wife and kids. Working with cable companies, he made connections at Comcast.

He was hired as CFO in 2007 and oversees all financial aspects, investor relations and strategic and corporate planning.

When he started, he said, it was difficult getting a handle on all the different aspects of the job.

"This is a very large company, with a lot of moving parts and complexities," he said. "I'm a detail guy, and when you have a very large company, being on top of all the details is challenging."

But he's made some adjustments in terms of priorities and time management, and in 2008 was named one of America's best CFOs by Institutional Investor magazine.

The secret to his success, he said, is consistent education.

"I really like learning," he said. "I would encourage people, no matter how old, to learn a lot and become experts in their profession. The harder you work, the luckier you get."

¢¢¢

Staff writer Cate Lecuyer can be reached at clecuyer@salemnews.com

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