NEW YORK, Aug. 15 /Xinhua-PRNewswire/ -- Duff & Phelps Corporation (NYSE: DUF), a leading provider of independent financial advisory and investment banking services, today announced that it has established a foothold in Greater China, with a presence in Shanghai, Hong Kong and Beijing, as part of its continued global expansion.
"One of the key aspects of Duff & Phelps’ strategy is developing its international practices. It is important to our clients that we have the global presence to fulfill their local country requirements," said Noah Gottdiener, Chairman and Chief Executive Officer of Duff & Phelps. "The expansion into China allows us to enhance our ability to serve Chinese companies, meet the needs of our clients who have operations in Asia and capitalize on increasing global opportunities for our services."
The China operation will initially focus on financial reporting and tax valuation, M&A due diligence and alternative investments portfolio valuation for companies across a wide range of industries. In the future, the group will provide a local platform in China from which to offer the full scope of Duff & Phelps services. This expansion demonstrates the company’s commitment to invest in local resources to serve its growing client base in the Asia-Pacific region.
Bill Snyder joins the firm as Managing Director and Country Leader in China. Snyder previously served as the Managing Director for the Shanghai office of Financial Markets Analysis (China) Ltd. Snyder’s broad experience includes complex financial securities and derivatives valuation, fair value and tax-related valuation and M&A transaction support for public and private companies in numerous industries. Snyder’s prior strategic and international experience also includes three years service on the White House staff and additional time on the Commissioner’s staff at the U.S. International Trade Commission (USITC). Initially, the China team will total nine professionals.
"The global convergence of accounting standards and the movement towards fair value reporting in China and across Asia have increased the need for our services," said Kleon Phili, head of Duff & Phelps’ international operations. "The China operation will be positioned to benefit from several trends, including increased M&A activity in China, the high volume of IPO activity and the growing need for independent financial advice."
About Duff & Phelps
Duff & Phelps Corporation (NYSE: DUF) is a leading provider of independent financial advisory and investment banking services, supporting client needs principally in the areas of valuation, transactions, financial restructurings and disputes. With more than 1,100 employees serving clients worldwide through offices in North America, Europe and Asia, Duff & Phelps is committed to fulfilling its mission to protect, recover and maximize value for its clients. Investment banking services are provided by Duff & Phelps Securities, LLC. Duff & Phelps Securities, Ltd. is authorized and regulated by The Financial Services Authority. For more information visit http:www.duffandphelps.com .