Kamm’s Diverse Background

Born in Brooklyn, Bruce Kamm graduated from Long Island University with a B.A. in administrative science in 1973. Upon graduation he joined his family’s jewelry business.

Assuming the role of president, he expanded the company’s retail operations from a single outlet to three stores, moved into the design and manufacturing of jewelry (which was wholesaled to the trade), and devised an electronic online trading network for diamond dealers. Under Kamm’s direction, annual sales exceeded $30 million.

Then he moved on. “I’m the kind of person who needs a challenge. I was in the jewelry business for 17 years, and there wasn’t any place to go,” Kamm divulged. 

Fulfilling his perpetually curious nature, the New York native got involved with RBOC’s. (Regional Bell Operating Companies—Bell South, U.S. West, Nynex, and Bell Atlantic.)

There, Kamm developed online information services for their gateways, enabling customers to log-on to a central database. “I had created 18 different online services. All were revenue sharing models, where the phone company billed the customer for the service and then paid me a share of the collected revenue,” he recalled.

This, unfortunately for Kamm, was in the pre-internet days when few people had computers—and even fewer had modems. In the late ‘80s competition forced the bloated companies to cut back on these marginally-profitable services.

It was also around this time that Kamm, as an Itex member, was trading jewelry for media, as well as his skills in network and software development, as he focused on a transition from the jewelry business to the information technology and online services business. 

“I had traded some $80,000 worth of products and services through Itex in about five months. I liked trading!” Intrigued, and having tired of the jewelry business, in addition to seeing his pre-internet information business struggling, Kamm looked for a new challenge and found it by becoming the Itex broker in Manhattan. 

Working in a complete vacuum, inasmuch as not a single Itex member existed in that market, Kamm busily began knocking on doors and single-handedly brought in 200 solid clients in less than a year. 

“I loved the business because it was different every day. And I never knew who would call with what inventory.” Attending the International Reciprocal Trade Association’s annual convention he pursued further industry education, and was awarded the Certified Trade Broker (CTB) designation.

His first notable breakthrough in the barter business came when he realized that, with his barter services, he could do business with anyone—regardless of how big the company was, whether privately or publicly-traded. “No matter what the size of the deal is, if you can just make it worthwhile for the parties involved, it’s do-able!”

Kamm says his clients are smarter today, and better in operating their business. “We’re dealing with companies that are more astute. The deals are not only bigger today, but—more and more—done online. Years ago we did a lot more trades, but they were smaller and done off-line. As a result we needed a larger staff.” 

Quickly, he became a standout in the national organization and has, for the last six consecutive years, led the entire Itex organization in office trade volume. (He attributes his growth to his use of his internet site, and his members’ electronic online awareness.) 

“I’ve always used internet technology with my Itex brokerage,” he disclosed. “It’s enabled us to do $16 million a year (buys and sells) in trade transactions, with half the usual number of staff.”

Kamm has also served as Itex Director of Strategic Development, directing the redesign of the company’s trading and account management software, plus developing marketing strategies and materials.

Even though computers are a hobby, Kamm says if he were not in the barter business he’d most likely be an attorney or own an advertising agency. “Those endeavors are both challenging and require creativity—if one is to be the best!”

Concurrently, while with Itex, he also founded and managed a real estate development company, which used barter as a component in many transactions. One of his investment properties is the six-story brownstone which is presently TradeBanc’s headquarters. As of last October, he only worked one day a week at Itex. In March, when his fiscal year ended, he stopped completely and now works entirely on TradeBanc’s efforts.

Today, Kamm claims, his total stimulation is centered around the building of TradeBanc. “Being active in the barter business has enabled me to see what the industry is lacking, what it needs, and what’s stopping us from being mainstream.”

As an accredited Microsoft solutions partner, a typical day sees him spending most of his time creating how the internet software will interface, and developing databases, backgrounds and structures. Kamm says pursuing TradeBanc is an exciting challenge.

“It’s the next level and a natural progression, since we’re now in a world where everyone and everything is becoming connected. The shortest distance between a client and a company is a mouse click!”

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