LOS ANGELES, Sept. 14, 2020 /PRNewswire/ -- B. Riley Financial, Inc. (NASDAQ: RILY) ("B. Riley" or the "Company"), a leading business advisory and financial services company, today announced it has adopted new brand names across its subsidiary companies to provide greater external consistency and affiliation among the diverse stakeholders it serves.
B. Riley has experienced meaningful growth since its founding in 1997 by co-Chief Executive Officers Bryant Riley and Tom Kelleher. The Company's brand realignment follows the integration of a series of acquisitions B. Riley has completed since 2015 which include, among others, Friedman, Billings & Ramsey (FBR & Co.); GlassRatner; Great American Group; and Wunderlich Securities.
"The addition of these companies over the last five years has meaningfully transformed our B. Riley platform. As we look ahead to future growth, our goal is to drive greater visibility and awareness for the depth and breadth of B. Riley's diverse suite of services and our ability to deliver end-to-end solutions to support our clients, partners and stakeholders," said Bryant Riley, Chairman and co-Chief Executive Officer, B. Riley Financial.
"B. Riley's mission is to leverage our collective capabilities and expertise to maximize client and shareholder value," said Tom Kelleher, co-Chief Executive Officer, B. Riley Financial. "The rebranding will lead to greater efficiencies and an even stronger alliance between our businesses, allowing us to offer a higher level of service to our clients going forward."
The company will retain its full name, B. Riley Financial, Inc., as the publicly listed entity, which also serves as the parent holding company. Its affiliated subsidiaries now operate under "B. Riley" marketing names which emphasize the distinct and complementary capabilities each unit provides:
- B. Riley Advisory Services offers specialty financial consulting advisory related to bankruptcy, restructuring, crisis management, forensic accounting, litigation matters, in addition to appraisal and valuation services. Formerly known as GlassRatner Advisory & Capital Solutions and Great American Group Advisory & Valuation Services, the groups operating as B. Riley Advisory Services are co-led by Ian Ratner and Mike Marchlik.
- B. Riley Principal Investments leverages resources across the platform in order to identify attractive investment opportunities and develop creative solutions for distressed companies or divisions that exhibit challenging market dynamics. The team, led by Kenny Young, relies on its deep investment and operational expertise to self-source proprietary opportunities across a broad array of transaction types that maximize free cashflow.
- B. Riley Real Estate Solutions is a real estate services firm established as B. Riley Real Estate, LLC in February 2020 and is led by Michael Jerbich.
- B. Riley Retail Solutions is a leading provider of asset disposition and retail liquidation services. Formerly known as Great American Group, B. Riley Retail Solutions is led by Scott Carpenter.
- B. Riley Securities is a full-service investment bank and broker-dealer that provides corporate finance, sales, trading, and equity research to institutional clients. Formerly known as B. Riley FBR following the merger of B. Riley & Co. and FBR & Co., B. Riley Securities is led by Andy Moore.
- B. Riley Wealth Management is a full-service private wealth and investment management services firm serving individuals and families, small and large businesses, and non-profits. Previously renamed in 2018 and formerly known as Wunderlich Securities and MK Capital Advisors, B. Riley Wealth Management is led by Chuck Hastings.
For more information about B. Riley and the comprehensive services it offers, please visit www.brileyfin.com.
About B. Riley Financial, Inc.
B. Riley Financial (NASDAQ: RILY) provides collaborative financial services solutions tailored to fit the capital raising, business, operational, and financial advisory needs of its clients and partners. B. Riley operates through several subsidiaries that offer a diverse range of complementary end-to-end capabilities spanning investment banking and institutional brokerage, private wealth and investment management, corporate advisory, restructuring, due diligence, forensic accounting and litigation support, appraisal and valuation, and auction and liquidation services. Certain registered affiliates of B. Riley originate and underwrite senior secured loans for asset-rich companies. B. Riley also makes proprietary investments in companies and assets with attractive return profiles. For the latest Company news and developments, follow B. Riley on Twitter @BRileyFinancial and LinkedIn. For more information about B. Riley, visit our website at www.brileyfin.com.
Statements in this press release that are not descriptions of historical facts are forward-looking statements that are based on management's current expectations and assumptions and are subject to risks and uncertainties. If such risks or uncertainties materialize or such assumptions prove incorrect, our business, operating results, financial condition, and stock price could be materially negatively affected. You should not place undue reliance on such forward-looking statements, which are based on the information currently available to us and speak only as of the date of this press release. Factors that could cause such actual results to differ materially from those contemplated or implied by such forward-looking statements include, without limitation, the risks associated with the unpredictable and ongoing impact of the COVID-19 pandemic and other risks described from time to time in B. Riley Financial, Inc.'s periodic filings with the SEC, including, without limitation, the risks described in B. Riley Financial, Inc.'s Annual Report on Form 10-K for the year ended December 31, 2019, and Quarterly Report on Forms 10-Q for the quarters ended March 31, 2020 and June 30, 2020, under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations." Additional information will be set forth in our Quarterly Report on Form 10-Q for the quarter ended September 30, 2020. These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. All information is current as of the date this press release is issued, and B. Riley Financial, Inc. undertakes no duty to update this information.