Loop Capital announced the establishment of a new practice that will provide valuation, financial due diligence, forensic, restructuring, and other financial consulting services to public and private companies, as well as to municipal and other public sector clients.

The Chicago-based investment bank and advisory firm announced Wednesday that the new practice, called Loop Capital Financial Consulting Services, LLC, will be spearheaded by KPMG, LLP veteran Steven Sherman.

“Financial consulting is a natural extension of our core capabilities that enables Loop Capital to more comprehensively address the needs of corporate, municipal and institutional clients,” James Reynolds, Jr., Loop Capital Chairman and chief executive officer, said in a statement.

“It is very exciting to join a uniquely positioned firm like Loop Capital that is able to add talented resources with diverse technical backgrounds to adapt to marketplace demand,” Sherman said. “Few advisory firms have teamed investment banking and financial consulting to the degree that Loop Capital envisions.”

Prior to joining Loop Capital, Sherman spent 30 years at KPMG, an audit, tax, and advisory services firm. There he chaired the Global Valuations Committee for seven years, overseeing a network of 1,200 professionals in more than 50 countries, and led KMPG’s U.S. valuations practice from 2003 until 2011.

In 2010, Sherman was named the chair of the Standards of the International Valuations Standards Council, an independent organization that develops and promotes technical and ethical standards for the conduct of valuations.

Loop Capital was founded in 1997, and serves clients in corporate and public finance, financial advisory services, taxable, tax-exempt and global equity securities sales, and trading and analytical services. The firm has 22 offices throughout the U.S.

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