Richard D. Soultanian (’93) is co-president of NUS Consulting Group, one of the world’s largest energy management consulting firms, and a regular contributor on CNBC, Fox Business News and other news outlets where he speaks on energy-related topics.  He will give the keynote address at this year’s annual Partners Gala on Friday, Dec. 2, at Bridger Field House.

After gradution from Wake Forest law school, Soultanian attended New York University where he secured an LLM in Tax.  Upon graduating, he was recruited by Mudge Rose Guthrie Alexander & Ferdon and took a position as a tax associate.  After roughly two years with Mudge Rose, Soultanian was recruited by Rogers & Wells. 

During the recruiting process, Soultanian was alarmed to hear that the hiring committee found a problem – or what was perceived as a problem.  Soultanian was told, “You went to Wake Forest. We’ve never hired anyone from Wake Forest.  We will have to see how we work with this.” 

Rogers & Wells ultimately hired Soultanian as a tax associate where he worked on international M&A, structured finance, international financial products, and offshore financing vehicles.

A couple of years later Soultanian was once again approached by another law firm – a boutique focusing on international transactions – and ultimately made the switch. 

“When I left Rogers they were a bit upset,” Soultanian recalls, “they really wanted me to stay.  I guess that says a lot about my education and preparation.”

Soultanian’s family immigrated to the United States in 1956.  The family had little but asked for nothing.  His father, Sarkis Soultanian, found a job delivering mail for NUS Consulting Group working for the founder Theodore E. Maynard.  After putting himself through college at night, Soultanian’s father stayed with the company for 40-plus years helping the founder build it into an international powerhouse. His father ultimately ended up purchasing the business. 

“You didn’t say no to my father,” said Richard, who currently runs the business with his brother Gary.  At the age of 17 Soultanian remembers spending summers commuting into New York City to work by his father’s side. A year later he was sent to London during the summers to learn other aspects of the business. 

“This was my training, posting utility bills from all over the world during my summer breaks,” Soultanian said.

Soultanian graduated magna cum laude from Bucknell University in 1989 with a bachelor’s of science in mathematics.  The day after graduating from Bucknell, he left to spend 2-1/2 months touring Eastern Europe with a group of other graduating students.  Soultanian said, “We visited East Germany, Hungary, Czechoslovakia, Poland, Yugoslavia, Bulgaria and Romania.  The poverty and despair at the time were overwhelming.” 

Upon returning to the U.S. he began to look for work.  After several inquiries, Soultanian got a position as a research analyst with Salomon Brothers following the oil equities and having the opportunity to work for Bob Salomon and Henry Kaufman.  At Salomon Brothers, Soultanian discovered he didn’t just want to research companies and transactions but be intimately involved and, consequently, applied to Wake Forest School of Law.

After Richard graduated from law school, Sarkis wanted his son to serve as general counsel to the company. But Soultanian declined reasoning that he had yet to commence the practice of law and wanted to build his own career.  In his last legal position at tax boutique Goodman Phillips & Vineberg, Soultanian was being recruited by the Treasury Department under the Clinton administration.  During the recruitment process, Soultanian’s father passed away and he was needed to run the family business. 

“My father’s death was sudden and unexpected,” Soultanian said. “He died at the age of 57.”  The day after burying his father, Soultanian boarded a plane to meet with the senior managers of the company and to allay their fears concerning the future.

Today NUS Consulting Group employs more than 375 professionals around the world and maintains offices throughout North America, Europe, Africa and Australia.  Soultanian is currently driving hard to expand into South America and Asia.  The company provides services to energy intensive businesses including global manufacturers, retailers and technology companies. 

In a talk earlier this year with Wake Forest law students, Soultanian explained, “We do business with large multinationals everywhere.  Everything you touch has some sort of energy component to it.”

Whatever students do, Soultanian advised, whatever aspect of law they choose as their specialty, they should do it as well as they can, and do it with a positive attitude while always working to expand their skill set.

“Don’t look at law school as the end.  Don’t look at the bar exam as the end.  It’s really the beginning,” says Soultanian.  He also advised them not to let their environment change who they are.

And do not get pigeon holed, Soultanian warned.

“The world is full of labels and it’s very easy to label, quite frankly. Whatever you do after Wake Forest, private practice or business, you should continue to pursue and try to learn about other things so people see that in you, so that you keep sort of a multi-faceted interior.”

Differentiating oneself from the pack is crucial.  

Soultanian told students to ask themselves, “How are you different, what separates you?  How on that one sheet of paper, because that’s your calling card, are you going to differentiate yourself?”

Finally,  believe in yourself, he said.

“You know what the truth is?  Things are always changing.  I didn’t plan on my dad dying and at 32 years old having to step into his shoes.  Quite frankly, I wasn’t ready – no one ever is for this sort of thing.  But the world doesn’t wait for you to be ready.  You’ve got to step up and take what’s given to you and take opportunities, and make your own opportunities.”

Despite adversity or societal expectations, Soultanian insists: “Don’t be afraid to be different.”

Category: Alumni