Duff & Phelps Corp., a global financial advisory and investment banking services firm, on Monday announced it has acquired RSM Richter’s Toronto-based financial restructuring practice.
RSM Richter’s financial restructuring practice in Toronto — which will merge with Duff & Phelps‘ existing Canadian operation — includes 17 lawyers focused on restructuring and insolvency. The firm’s managing directors Bobby Kofman, David Sieradzki, Peter Farkas and Robert Harlang will be joining Duff & Phelps as part of the acquisition.
Ernst & Young recently acquired RSM Richter’s audit, tax and transaction advisory practices in Toronto, as well as its Calgary restructuring practice.
The RSM Richter team will integrate with Duff & Phelps’ existing Canadian group, which merged with Toronto-based financial advisory firm Cole & Partners in 2010 and provides dispute consulting, valuation and corporate finance advisory services.
New York-based Duff & Phelps also has a presence in continental Europe and the UK, where the firm recently added 150 employees focused on corporate restructuring and turnaround services.
“The addition of these talented and highly respected colleagues from RSM Richter — combined with the existing team that we successfully established in Toronto a year and a half ago — creates a critical mass for Duff & Phelps in Canada that will enable us to pursue more opportunities in that region and around the world,” Duff & Phelps CEO Noah Gottdiener said in a news release.