CALGARY, AB - B. Riley Farber, a subsidiary of B. Riley Financial (NASDAQ: RILY), announced today the appointment of Ryan Adlington as Senior Managing Director, based in Calgary, Alberta. Adlington, a veteran in restructuring and turnaround, brings over two decades of experience to the firm, and will lead its restructuring practice in Alberta.
Adlington's career includes significant tenures at leading Big 4 accounting firms and a boutique consulting firm, where he was a partner for a combined 10 years. His expertise covers a range of industries from oil & gas to retail, and he has practiced in both Canada and the United States, offering valuable cross-border experience.
Hylton Levy, co-head of Restructuring at B. Riley Farber, expressed confidence in Adlington's ability to grow the firm's presence in Western Canada. "Ryan's decades of work in the restructuring and interim management space will be invaluable for scaling our practice in Alberta," Levy stated.
B. Riley Farber, part of the larger B. Riley platform, is known for providing practical solutions to complex financial and operational challenges. The firm has a history dating back to 1979, with services that now include restructuring, financial and human capital consulting, executive search & interim management, M&A corporate finance, and wealth management.
Adlington, originally from London, Ontario, is an alumnus of the Ivey Business School at Western University. His role will focus on expanding B. Riley Farber's team and services in Canada's Western region.
B. Riley Financial, the parent company, is a diversified financial services provider offering solutions tailored to the strategic and capital needs of its clients. The platform encompasses investment banking, institutional brokerage, private wealth and investment management, financial consulting, and more.
This expansion signifies B. Riley Farber's commitment to enhancing its restructuring services and supporting businesses across Canada. The information regarding Ryan Adlington's appointment and B. Riley Farber's services is based on a press release statement.
InvestingPro Insights
As B. Riley Financial (NASDAQ: RILY) welcomes Ryan Adlington to steer its restructuring efforts in Alberta, investors and stakeholders may be curious about the company's financial health and market position.
According to InvestingPro data, B. Riley Financial has a market capitalization of $611.35 million, reflecting its stature in the financial services industry. Despite a challenging period with a 6-month price total return of -43.67%, the firm's commitment to dividends is evident, maintaining payments for 11 consecutive years and offering a current dividend yield of 10.01%.
InvestingPro Tips for B. Riley Financial highlight the stock's high price volatility, which could be of interest to investors looking for dynamic trading opportunities. Additionally, while the company has suffered from weak gross profit margins, with a gross profit margin of 2.78% in the last twelve months as of Q4 2023, its liquid assets surpass short-term obligations, suggesting a level of financial resilience.
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