Duff & Phelps

Duff & Phelps. Duff & Phelps is a prominent global financial advisory and investment banking firm, renowned for its expertise in valuation, corporate finance, and dispute consulting. Founded in Chicago during the Great Depression, the firm has evolved into a key advisor to Fortune 500 companies, law firms, and government agencies worldwide. Its services are critical in complex transactions, regulatory compliance, and litigation matters, making it a significant player in the professional services landscape.

History

The firm was established in 1932 by William Duff and George Phelps, initially focusing on utility company valuation and rate case testimony before bodies like the Interstate Commerce Commission. It grew steadily, becoming a trusted advisor during the mid-20th century expansion of American industry. A pivotal moment came in 1984 when the firm was acquired by Primerica, a predecessor of Citigroup, before a management buyout returned it to independence in 1990. The early 21st century saw significant growth, including a merger with Standard & Poor's' corporate value consulting practice and an initial public offering in 2007. After being taken private in a 2013 leveraged buyout by The Carlyle Group and Pontegadea, it was acquired by the corporate investigations firm Kroll in 2018, integrating into the risk management division of its parent, Alvarez & Marsal.

Services

Duff & Phelps provides a comprehensive suite of advisory services centered on valuation and capital markets. Its core offerings include business valuation for tax reporting, financial reporting, and mergers and acquisitions, alongside a full range of investment banking services such as M&A advisory and capital raising. The firm's dispute consulting and forensic accounting experts frequently provide testimony in major commercial litigation and international arbitration proceedings. Additional key practices include restructuring advisory for companies in Chapter 11 proceedings, and regulatory consulting focused on areas like the Bank Secrecy Act and Anti-Money Laundering compliance for financial institutions.

Corporate structure

Following its acquisition, the firm operates as a core brand within the Kroll business unit of Alvarez & Marsal. This structure integrates its advisory capabilities with Kroll's expertise in cybersecurity, due diligence, and corporate intelligence. The combined entity serves clients globally from offices in major financial centers including London, Hong Kong, Dubai, and Singapore. Leadership typically comprises seasoned professionals from backgrounds in investment banking, accounting firms like the Big Four, and government agencies such as the Securities and Exchange Commission.

Notable transactions and engagements

The firm has advised on many high-profile assignments across industries and geographies. In corporate finance, it has counseled clients on landmark deals, such as the restructuring of Lehman Brothers and the valuation of complex assets during the General Motors Chapter 11 reorganization. Its dispute consulting experts are regularly engaged in major legal cases, including providing valuation testimony in the Apple Inc. versus Samsung patent infringement trials and assessing damages in breach of contract disputes. The firm also played a significant advisory role to the U.S. Department of the Treasury regarding the Troubled Asset Relief Program following the 2008 financial crisis.

Recognition and rankings

Duff & Phelps consistently receives high rankings from industry publications and analyst firms. It is perennially ranked as a leading valuation firm by publications like The Wall Street Journal and Forbes. In the investment banking sector, it is frequently recognized by Mergermarket and Thomson Reuters for its mid-market M&A advisory capabilities, particularly in sectors like technology and healthcare. The firm's transfer pricing and tax valuation practices are also highly regarded in surveys conducted by International Tax Review and other specialized media outlets.

Category:Financial services companies of the United States Category:Investment advisory firms Category:Companies based in New York City