Tuesday, July 7, 2009

Mesirow Financial Consulting's Stephen B. Darr Named President-Elect, Association of Insolvency and Restructuring Advisors

Mesirow Financial Consulting, LLC (MFC) announced today that senior managing director Stephen B. Darr was named president-elect of the Association of Insolvency and Restructuring Advisors (AIRA), a national, not-for-profit organization serving the needs of business turnaround, restructuring and bankruptcy practitioners. Darr will serve a two-year term, effective June, 2010.

"Steve's nomination as AIRA president-elect is testament to the credibility he's established advising various constituents in distressed situations, as well as to his thought leadership regarding various restructuring and reorganization issues," said Ralph S. Tuliano, MFC president. "The networks he has built are well aligned with the AIRA's mission of promoting education and an understanding of the practice area. I am certain he will provide strong leadership to the organization and its members."

Darr's post with the AIRA comes on the heels of senior managing director Melissa Knoll's nomination as president-elect of the American Bankruptcy Institute (ABI) earlier this year. AIRA and ABI represent two of the most influential organizations dedicated to elevating and deciphering new and often complex issues around bankruptcy and insolvency. These appointments underscore MFC professionals' position as leaders providing some of the most respected and sought-after insight within the restructuring arena. Tuliano added, "This sort of broader industry involvement is indicative of our historical strength as restructuring specialists."

Darr stated, "Because of the complexity of today's financial environment and the volume of filings and restructurings, it is more important than ever to promote a broad and candid exchange between the various constituents engaged in these scenarios. I am pleased to play a role in this education process and suspect I will have ample opportunity to draw from my client experience gained at MFC."

AIRA's membership has grown to approximately 1,700+ accountants, attorneys, turnaround specialists, workout consultants, trustees, and others involved in insolvency and bankruptcy matters. The goals of the organization are to foster an understanding of the insolvency and reorganization practice area, to gain recognition for its specialized services, to sponsor relevant education programs and to administer a certification program.

About MFC

A full-service financial advisory consulting provider, MFC provides corporate recovery, litigation and investigative services, valuation services, interim management (Interim management services provided by Mesirow Financial Interim Management, LLC.), operations and performance improvement, distressed mergers and acquisitions, alternative investment services, due diligence services and technology advisory services.

About Mesirow Financial

Mesirow Financial is a diversified financial services firm headquartered in Chicago. Founded in 1937, it is an independent, employee-owned firm with nearly $31.4 billion in assets under management and more than 1,100 employees in locations across the country and in London. With expertise in Investment Management, Investment Services, Insurance Services, Investment Banking, Consulting and Real Estate, Mesirow Financial strives to meet the financial needs of institutions, public sector entities, corporations and individuals. For the fiscal year ended March 31, 2008, the firm posted $490 million in revenue, with more than $246 million in capital. For more information about Mesirow Financial, visit its Web site at www.mesirowfinancial.com.

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