B. Riley Strengthens Restructuring Division with Three Senior Hires

Rhea-AI Summary

B. Riley Financial (NASDAQ: RILY) announced growth in its restructuring division with the addition of three senior executives: John Sordillo, Jeffrey Truitt, and Tim Hannon. Each brings over 30 years of experience in financial management and restructuring advisory. Sordillo specializes in corporate finance and litigation across various industries, Truitt leads restructuring efforts in Los Angeles, and Hannon has experience in CFO roles for mid-sized companies. This team is expected to enhance B. Riley's advisory capabilities as demand for their services continues to grow.

Positive

• Addition of three experienced senior executives enhances restructuring capabilities.
• John Sordillo, Jeffrey Truitt, and Tim Hannon each have over 30 years of industry experience.
• Growing demand for complex financial management and restructuring services.
• Team brings expertise across various industries including healthcare, energy, and retail.

Negative

• None.

LOS ANGELES, Sept. 23, 2021 /PRNewswire/ -- B. Riley Financial (NASDAQ: RILY) ("B. Riley") today announced continued growth in its restructuring division with the addition of three new senior executives. John Sordillo, Jeffrey Truitt and Tim Hannon have joined B. Riley Advisory Services and bring several decades of experience and proven expertise in complex financial management and restructuring advisory.

B. Riley adds three senior hires to support growing demand for complex financial management and restructuring services.

"We continue to enhance our business restructuring services with some of the best talent available in the market as demand for our middle-market advisory services continues to grow," said Ian Ratner, Co-CEO of B. Riley Advisory Services, the firm's specialty financial consulting business. "Corporates, private equity firms, portfolio companies, and lenders each have their own unique challenges, and we believe B. Riley has assembled a best-in-class team to help guide our clients through their most mission critical initiatives in the year ahead and beyond. We are thrilled to welcome John, Jeffrey and Tim to our growing team."

Based in New York, John Sordillo joins as a Senior Managing Director and has over 30 years of accounting, finance, turnaround and restructuring experience, including as interim officer and chief restructuring officer in distressed situations, and as a principal investor in turnaround situations. He serves as a trusted advisor to companies, lenders, PE funds and other institutional investors in restructuring, corporate finance and litigation situations across a variety of industries including real estate, oil and gas, energy, manufacturing, telecommunications, gaming, healthcare and retail. Prior to B. Riley, he served in several senior restructuring advisory roles with firms including Broadview Business Advisors, CBIZ, Loughlin Management Partners, Deloitte, Ernst & Young (EY), and AlixPartners. In addition, he has served as a principal in the U.S. merchant banking business of TD Bank Financial Group. Sordillo earned a BBA in Public Accounting from Pace University and JD from Brooklyn Law School.

Jeffrey Truitt joins as a Senior Managing Director and leads the firm's restructuring practice in Los Angeles. He has over 30 years of experience as a restructuring and turnaround professional serving as a trusted advisor to myriad companies, secured creditors, ad hoc bondholder groups, official committees and other interested parties in connection with out-of-court financial restructurings, operational turnarounds and/or chapter 11 reorganizations. Truitt has held various interim C-level management positions, including as CEO, CFO and CRO, and has served as court-appointed examiner in large Chapter 11 cases. Prior to joining the firm, Truitt was a Senior Managing Director at FTI Consulting and previously held various senior positions in the corporate restructuring practices of XRoads Solutions Group, Mesirow Financial Consulting, KPMG and Arthur Andersen. He holds several professional designations including CTP, CIRA and CDBV. Truitt earned a BA in Economics from the University of California, Los Angeles and an MBA from the UCLA Anderson Graduate School of Management.

Tim Hannon joins as a Managing Director in Atlanta and brings over 30 years of experience in executive financial management and financial advisory services. He has served as CFO and Corporate Controller for companies ranging in size from $50 million to $1 billion. Most recently, Hannon was CFO for a $900 million fresh food CPG company. He began his career with Arthur Andersen in New York and has worked in the turnaround and transaction advisory practices at Zolfo Cooper and KPMG. He is a CPA (NY) and has CMA and CIRA designations. Hannon earned a BS in Accounting from the State University of New York at Albany.

For more information about B. Riley Advisory Services, visit: www.brileyadvisoryservices.com.

About B. Riley Advisory Services
B. Riley Advisory Services is a financial consulting and valuation firm that works with law firms, lenders, private equity sponsors, and companies of all types on business challenges such as planning and executing a major acquisition or divestiture, pursuing a fraud investigation or corporate litigation, or managing through a business crisis or bankruptcy. The firm offers a unique mix of appraisal services including asset-based lending (ABL) valuations, restructuring and turnaround management, forensic accounting and litigation support, and transaction support services including due diligence and quality of earnings reviews. The firm is a subsidiary of B. Riley Financial.

B. Riley Financial provides collaborative solutions tailored to fit the capital raising and business advisory needs of its clients and partners. B. Riley operates through several subsidiaries that offer a diverse range of complementary end-to-end capabilities spanning investment banking and institutional brokerage, private wealth and investment management, financial consulting, corporate restructuring, operations management, risk and compliance, due diligence, forensic accounting, litigation support, appraisal and valuation, auction and liquidation services. For more information, please visit www.brileyfin.com.

Media Contact

Jo Anne McCusker
B. Riley Financial
press@brileyfin.com
(646) 885-5425

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SOURCE B. Riley Financial

FAQ

Who are the new executives added to B. Riley Financial's restructuring division?

B. Riley Financial added John Sordillo, Jeffrey Truitt, and Tim Hannon to its restructuring division.

What is the significance of the new hires for B. Riley Financial (RILY)?

The new hires enhance B. Riley's restructuring capabilities and meet the growing demand for financial advisory services.

What experience do the new executives at B. Riley Financial have?

Each new executive has over 30 years of experience in financial management and restructuring advisory.

What industry sectors do the new hires at B. Riley Financial cover?

The new executives bring expertise from various sectors, including healthcare, energy, and retail.

What is B. Riley Financial's focus with the new executive additions?

B. Riley Financial aims to enhance its advisory services in corporate finance and restructuring.