Tom Greco, CEO of Hilco Valuation Services, announced the formation of Hilco Diligence Services (HDS). This new business practice will provide asset-based field examination and deal specific diligence services and analysis for lenders, financial sponsors, investors, corporations, and work-out and insolvency practitioners. Hilco Diligence Services will be run by Doug Jung who joined Hilco in September, 2013 as Managing Director, and its services include traditional and complex "out of the box" asset-based lending field examinations and deal specific transaction work.
"This is an important strategic decision for Hilco Valuation Services to expand our practice and offer field examination and due diligence services to our customers. This is a natural extension of our existing valuation practice, and Doug Jung, who built similar practices and trained many of today's respected lenders in the asset-based community, is the ideal person to grow this business", said Greco.
A seasoned financial professional with over 25 years of diverse experience, Jung has established a solid background in diligence, audit, credit, management, advisory, finance and investigation. Since joining Hilco, Jung has been building the HDS team with professionals in New York and Chicago as well as the West Coast. Jung has performed single lender and complex syndicated ABL field exams, and has also provided diligence services for highly-structured secured loans in a broad array of industries including specialty finance companies.
Over the years, Jung has performed or managed hundreds of field exams annually. His experience in both mid-market and large cap covers a wide array of industries, including retail, consumer and commercial finance companies, distribution, professional services, aerospace, heavy manufacturing, consumer goods, retail, telecom, agriculture, textile & apparel, transportation, energy, healthcare and entertainment/media. His experience includes analysis of target companies in the US as well as Europe and Asia.
Prior to joining Hilco, Jung managed Jupiter Advisory Group, a business consulting firm he founded. Earlier, he had spent seven years with Alix Partners and FTI/Compass Lexecon performing a wide variety of restructuring engagements, lender advisory, investigations and litigation support work. He also spent many years in banking, holding senior management positions with JPMorgan Chase (JPM) and its predecessor banks, where he started and managed the bank's diligence/field exam and collateral monitoring groups. He was JPM's lead asset-based product specialist and played an integral role in many of the bank's largest syndicated ABL transactions. While with JPM, Jung held senior roles in the Investment Bank, Special Credits (work out), the Commercial Bank and Chase Business Credit divisions.
Prior to this Jung was the National Field Exam manager at Fidelcor Business Credit, where he managed and executed all field exams, both new business surveys and recurring audits with a staff of over 20 people located across the US.
A Certified Public Accountant, he received his degree from Syracuse University. He is a member of numerous professional organizations, including AICPA, AIRA and TMA.
Hilco Valuation Services (HVS) is one of the world's largest and most diversified business asset appraisers and valuation advisors. Headquartered in the Chicago area, Hilco Valuation Services s part of Hilco Global with offices in key cities around the world.
HVS provides services in a wide range of asset classes, including inventory, machinery and equipment, real estate, and enterprise valuation. From aerospace and financial services to retail and energy to healthcare and technology, HVS has delivered valuations for all industries and provides other services from lending and financial reporting to enterprise planning and litigation support. Unique to Hilco Valuation Services is the ability to affirm asset values through proprietary market data obtained from the worldwide asset disposition and acquisition experiences of Hilco Global.
Hilco Global, the holding company for HVS, is an independent and diversified financial services company and the world's preeminent authority on maximizing the value of assets for both healthy and distressed companies.