02 Aug, 2013, 12:43 ET
ATLANTA and NEW YORK, Aug. 2, 2013 /PRNewswire/ -- Algon Group announced today that banking industry veteran Ralph Lay has recently joined the firm as Senior Managing Director.
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The addition of Lay enhances the firm's capabilities in providing both corporate and real estate advisory services and solutions to Algon Group's clients. Mr. Lay will handle advisory assignments for both lenders and borrowers, act as a Court Appointed Receiver/Trustee, provide litigation/expert services and advise investors in the purchase of individual assets, loans and portfolios.
Troy Taylor, President of Algon said, "The addition of Ralph to the Algon team further enhances our capabilities in providing industry-leading financial advisory services for results-oriented clients in challenging, unique situations."
With nearly 30 years at Bank of America and its predecessors, Mr. Lay brings vast real estate capital markets experience to the Algon senior team, and has led transactions approaching $10 billion in value for leading real estate firms including the Related Group, WCI Communities, Crescent Resources, Sea Island, Kiawah Island, Reynolds Plantation, Faison Properties, Pannatonni Group and John Wieland Homes, among others.
Most recently, he served as Bank of America's Senior Vice President Region Executive Real Estate Managed Accounts. He has been involved in some of the largest real estate syndications in the industry. Mr. Lay has done business across the US, in Canada and in the Caribbean. He also has experience in multiple jurisdictions with litigation, bankruptcy, receiverships, note sales and restructures.
Algon Group (www.algongroup.com) is a specialized financial advisory firm that provides sophisticated financial analysis and advisory services to debtors, creditors, equity holders and third party constituencies. Algon professionals each have decades of investment banking experience and, in aggregate, have handled transactions in excess of $20 billion during their collective careers. Algon has handled over $3.7 billion of restructurings/transactions in the last 48 months on behalf of public and private entities. The firm has a nationwide footprint with professionals in Atlanta, Birmingham, Charlotte, Phoenix, Philadelphia and Tampa Bay.
Algon is a strategic partner in 32 Advisors-Algon, a joint venture with 32 Advisors.
About 32 Advisors
32 Advisors (www.32advisors.com) is a global consulting and advisory firm founded by Robert Wolf, former CEO and Chairman of UBS Americas, providing strategic intelligence and actionable guidance on a broad spectrum of issues affecting immediate and long-term growth and success. The firm acts as a trusted advisor and confidential solution partner to public and private companies, private equity and hedge funds, money managers, governments and other institutions, both in the US and countries around the world.
SOURCE Algon Group
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