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New York, NY (June 30, 2021) – SitusAMC Holdings Corp. (“SitusAMC”), a leading provider of innovative, trusted solutions supporting the entire lifecycle of real estate finance, announced that Garry P. Herdler has been appointed Chief Financial Officer, effective June 1, 2021. In his role, Mr. Herdler is responsible for advancement of SitusAMC’s processes, systems, funding, and financial strategies globally. Mr. Herdler succeeds Dave DeClark, who is retiring from SitusAMC.
Mr. Herdler has significant finance, operations, and capital markets expertise with over 27 years as a Chief Financial Officer, an investment banker, a CPA/CA, tax advisor and a private equity management consultant in numerous industries. Mr. Herdler has been the Chief Financial Officer of several companies, including one global real estate company, two NYSE-listed companies, and six U.S. private equity-owned companies. He has led companies through growth and high change situations driving operational performance improvement, business integration, IT conversions, M&A, turnarounds and restructuring matters. He has a broad background as CFO in across numerous sectors, including global real estate, homebuilding, multi-channel retail, consumer and health services, manufacturing, and media.
Most recently, Mr. Herdler served as the Administrative Agent’s advisor (for a $25Bn+ private equity lending fund) for a non-performing loan to a consumer services firm, and as a consultant to private equity lenders on a business services company restructuring plan. In 2019, Mr. Herdler was the Senior Vice President and Chief Financial Officer of StoneMor Partners L.P. (NYSE: STON), where he was hired to lead a $447.5 million debt/equity recapitalization and cost savings initiatives, then as an operational consultant to implement the identified cost reductions and other restructuring matters. Previously, he was a Senior Director with Alvarez & Marsal Private Equity Performance Improvement Group, LLC in New York, NY. Prior to Alvarez & Marsal, Mr. Herdler was the Chief Financial Officer of QuadReal Property Group, a newly formed global real estate investment, development and management company in Vancouver, Canada. At QuadReal, he led the financial integration of four predecessors; set a global capital strategy and closed the first C$1.2Bn multi-currency credit facility; and helped grow the firm’s portfolio from C$19Bn to C$27Bn in 17 countries with 1000+ staff. In addition, Mr. Herdler spent nearly 10 years in investment banking, leveraged finance and equity capital markets at Deutsche Bank Securities, Bankers Trust and CIBC World Markets, where he completed transactions in several industries, including real estate, financial services, and business services. He also previously spent over six years at KPMG in accounting and real estate tax advisory. Mr. Herdler is also on the Board of Directors of a public company, Diversified Royalty Corporation (TSE: DIV), where he is a Board member, Chair of the Investment Committee, and a member of the Audit Committee.
“We are excited to welcome Garry to the SitusAMC family,” stated Michael Franco, Chief Executive Office of SitusAMC. “Garry’s proven experience as a financial leader and ability to design and execute strategies that deliver demonstrative value to operations, clients and investors alike will be critical as SitusAMC continues to grow and bring innovative, tech-forward solutions to market. I’d also like to thank Dave DeClark for his dedication in the CFO role and his contribution to the firm.”
“I am thrilled to join SitusAMC at such an exciting time in the firm’s journey. I look forward to partnering with the SitusAMC team, our board, and investors to support the firm’s objectives,” said Mr. Herdler. “Ultimately, my aspiration is to help SitusAMC continue to expand, organically and inorganically, and to not only meet but exceed stakeholder expectations.”
SitusAMC is the leading independent provider of technology, strategic outsourcing, talent and advisory solutions to the commercial and residential real estate finance industries. The company helps clients identify and capture opportunities in their real estate businesses through industry-leading services and innovative technologies that drive operational efficiency, increase business effectiveness, and improve market agility across the entire lifecycle of their global real estate activity. For more information, visit www.situsamc.com.
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