B. Riley Financial, Inc. announced an expanded role for Steven H. Reiner to include a newly created osition of Chief Business Development Officer, Asset Dispositions in its Great American Group, LLC subsidiary. Reiner will continue to serve as a Managing Director and the Head of Consumer Investment Banking for the Company's B. Riley & Co., LLC subsidiary.
In his new role, Reiner will be responsible for managing business development for Great American Group's asset disposition businesses.
"Our clients' financial needs are rarely singular in nature, with the solution requiring specialists from multiple financial disciplines," said Bryant Riley, Chairman, of B. Riley Financial. "As such, we take a collaborative approach to each engagement, which means tapping, when necessary, into the capital raising expertise within our B. Riley & Co. investment banking group as well as Great American Group's advisory services, including valuation, asset disposition, and liquidation services."
"Clients can benefit greatly from this multi-disciplined approach," he continued. "Steve's many years of experience as an investment banker, combined with his background as a company operator in the retail sector, allows him to assemble the appropriate team that can best advise clients on a range of complex financial and operational issues."
Reiner has over 25 years of combined investment banking and operating company experience. He began his career with Salomon Brothers Inc and in 1999 founded Oppenheimer & Co.'s Consumer Investment Banking practice. In 2007 Mr. Reiner joined the consumer focused investment bank Financo to open a Los Angeles office. Mr. Reiner has also served as the President of Jessica's, a leading off-price agent of premium apparel brands, and as a senior executive with Skechers USA, Inc., a global retailer and wholesaler of lifestyle and performance footwear.
"I am excited to have this opportunity to build and lead Great American Group's new business development effort," said Reiner. "Great American has a 40-year, distinguished history of providing financial solutions to business owners, executives and lenders. The access to B. Riley & Co.'s capital raising and advisory capabilities will enable us to offer clients a broader range of integrated, value-added solutions."
In his new role, Reiner will be expanding a specialized business development team nationwide. Initially joining the effort is Ryan Mulcunry, an Executive Vice President in Great American Group's Advisory and Valuation Services division. Mulcunry will be expanding his coverage of New England to focus on dispositions, in addition to maintaining lending relationships. He has been with Great American Group since 2000, starting as an appraiser and then helping to expand multi-jurisdiction coverage with the opening of operations in the United Kingdom while also covering the New York market for the past few years.
B. Riley Financial, Inc. provides collaborative financial services and solutions through several subsidiaries, including: B. Riley & Co. LLC, a leading investment bank which provides corporate finance, research, and sales & trading to corporate, institutional and high net worth individual clients; Great American Group, LLC a leading provider of advisory and valuation services, asset disposition and auction solutions, and commercial lending services; and B. Riley Asset Management, LLC, a provider of investment products to institutional and high net worth investors.