Kroll launches restructuring offering for public sector clients
As it looks to cater to growing demand from government agencies, Kroll has launched a public sector restructuring practice. The practice will be headed up by Managing Director Simon Stibbons, and Senior Director Tom Berry.
Kroll is a global professional services firm, of more than 6,500 professionals worldwide. Its expertise spans risk, governance, transactions and valuation – with the firm hosting over 1,500 valuation professionals globally. As local and national authorities looks to do more with less, while implementing major cost-cutting and digitalisation campaigns, Kroll has established a new service line to support the public sector.
Speaking on the new offering, David Fleming, UK head of restructuring at Kroll, said, “The public sector continues to face increasing challenges from uncertain market conditions, so I am pleased to be extending our services to support the Government and its public sector organisations, helping them to navigate these complexities.”
Kroll is currently going through a sustained period of expansion – and has committed to a number of new services in the last 18 months. In late 2022, for example, the firm purchased Appraisal & Valuation Consultants, to boost its offering in the insurance market. Meanwhile, in the back-end of 2023, Kroll established a new digital platform for illiquid asset management.
As Kroll continues this journey, the launch of its public sector practice will deliver restructuring and advisory services to government departments and the public sector. And to head up this new service, Kroll has welcomed two senior appointments. Based in London, Managing Director Simon Stibbons and Senior Director Tom Berry will focus on advising central government, government departments, regulators, and other public sector bodies when faced with matters of financial and operational distress.
Stibbons is a licensed insolvency practitioner with over 25 years of experience in complex restructuring assignments in the private and public sectors. He has acted as lead advisor on several challenging government issues including contingency planning for a number of government departments where operationally and financially distressed suppliers have resulted in key public services being put at risk.
Meanwhile, Berry brings over 15 years of experience in corporate finance, restructuring and insolvency. He has extensive experience advising organisations and their stakeholders on strategic options, leading business/ financial reviews and supporting on contingency planning. Tom has previously worked for UK Government Investments and brings significant public sector expertise.
