NEW YORK, Sept. 21 /PRNewswire/ -- KPMG LLP, the U.S. audit, tax and advisory firm, announced that in response to client demand it has continued its investment in building a team of senior restructuring professionals with the recent additions of Tony Murphy in New York City and Tom Bibby in Dallas.
"Tony and Tom each have more than 20 years of financial restructuring, banking and workout experience, and are exceptional additions to our growing Restructuring team," said Drew Koecher, KPMG's U.S. Restructuring leader. "Tony's experience leading global workouts at Citigroup will be of immediate benefit to our banking and credit clients, and Tom's distinguished reputation of serving companies and stakeholders in the middle-market fits well with current market needs."
Both have built respected reputations in the global and middle market segments by working closely with management teams to help improve stakeholder returns. Their arrival further strengthens KPMG's growing restructuring team, which also recently acquired the Manufacturing Restructuring practice of Grant Thornton LLP. That transaction bolstered KPMG's already strong operational and financial restructuring capabilities across the manufacturing and automotive sectors, including supply chain advisory, supplier services, technology, and performance improvement.
Prior to joining KPMG as a principal in its New York office, Murphy served as a managing director and global head of Citigroup's workout management group responsible for troubled credits in the corporate bank. Through his 20 year career at Citigroup, Murphy led restructurings as lead agent and as a secondary investor, including managing many of Citi's most troubled situations, and directed teams of experienced workout professionals around the world.
Bibby, who joins as a partner based in KPMG's Dallas office, brings more than 20 years of experience as a financial advisor to creditors, debtors, Chapter 11 trustees and corporations involving transition issues and underperforming businesses. He also has assisted buyers and lenders by providing crisis management and out-of-court financial restructuring assistance.
"When faced with the prospect of a financial or operational restructuring, many companies and stakeholders need advisers who understand their industry and can help them rapidly move through the process while employing tactics to enhance their recovery," said Dan Tiemann, U.S. leader of KPMG's Transactions & Restructuring group. "Tony and Tom have proven track records, much like all of our senior restructuring professionals, with deep experience across a wide breath of client situations."
About KPMG's Global Restructuring Services
KPMG's Global Restructuring Services comprises teams of dedicated restructuring partners and professionals from the network of member firms of KPMG International. These teams work globally with companies, lenders and other stakeholders to help provide stability, restore confidence and improve performance and recovery in stressed and distressed situations. KPMG's network of restructuring partners and professionals provides considerable experience in performance improvement, turnarounds, insolvency, mergers and acquisitions, transaction structuring, tax, valuation, real estate, forensic investigations and technical accounting services. KPMG's restructuring teams assist clients in developing and evaluating business turnaround scenarios, improving cash and liquidity, assessing capital structuring alternatives and enhancing recovery options out of court and in bankruptcy.
About KPMG LLP
KPMG LLP, the audit, tax and advisory firm (www.us.kpmg.com), is the U.S. member firm of KPMG International Cooperative ("KPMG International.") KPMG International's member firms have 140,000 professionals, including more than 7,900 partners, in 146 countries.
SOURCE KPMG LLP