CHICAGO--(BUSINESS WIRE)--DSI Civic Financial Restructuring, LLC (DSI Civic), which specializes in government and municipal restructuring and reorganization, today announced that Paul Vallas has joined the firm, lending his considerable government experience and expertise to the group’s national distressed governmental and municipal practice. Mr. Vallas, the former CEO of the Chicago Public Schools system, as well as school districts in Philadelphia, New Orleans and Bridgeport, Connecticut, brings a solid grasp of state and municipal issues that complement the senior management team of DCI Civic, an affiliate of Development Specialists, Inc. (DSI), a worldwide consulting firm headquartered in Chicago with major offices in New York, Miami, Los Angeles, San Francisco and other cities.
“Paul brings to DSI Civic a tremendous skill set that uniquely compounds the skills and diverse background of our executives. As a member of our staff our clients will benefit from the extensive knowledge he has built over time; he is an accomplished industry veteran who can navigate successfully through the complex and complicated issues that face many distressed municipalities and school districts,” said Bill Brandt, DSI’s President and CEO. “At DSI Civic, we feel incredibly lucky to attract an individual of Paul’s caliber to our shop. Here, among others, he joins John Filan, the former COO of the State of Illinois and former head of its Office of Management and Budget, in assisting our municipal and governmental clients throughout the country. We welcome Paul to DSI Civic and know he will continue the firm’s rich tradition of providing our clients with unparalleled service and insightful counsel.”
“I’m flattered to have been asked to join DSI Civic and its stellar team of professionals,” said Mr. Vallas. “I look forward to aiding this very distinguished team as they counsel school districts, diverse units of government and municipal leaders on how to address the difficult issues that governments are dealing with in this new era of constrained budgets. The main reason I am making this move is because Bill Brandt and DSI create jobs and value. They sustain communities and bring opportunities that just weren’t there before.”
Mr. Vallas’ practice will adhere to the firm’s present policy of only working on out-of-state projects. These protocols preclude DSI Civic from seeking or working on distressed municipal matters, or with troubled governmental units, within the state of Illinois, and have long been in place due to Mr. Brandt’s position as Chairman of the Illinois Finance Authority, as well as John Filan’s former role of COO of the State.
About DSI Civic
DSI Civic specializes in government restructuring and reorganization; government debt restructuring and finance; forensic auditing; and negotiations with a variety of governmental stakeholders. DSI Civic has successfully crafted and executed strategies for government officials, regulatory agencies, not-for-profit entities, and court-sanctioned committees protecting the rights of retirees and pension holders, as well as bondholders and general creditors in a wide array of governmental restructuring matters.
DSI is a leading provider of management consulting and financial advisory services, which include turnaround consulting, fiduciary roles, financial restructuring, litigation support, wind-down oversight and forensic accounting services. DSI’s client-range of business owners, corporate boards of directors, financial services institutions, secured lenders, bondholders, unsecured creditors and creditor committees draw on the firm’s broad spectrum of business services and expertise, all of which have established DSI’s reputation as an industry leader in corporate restructuring. DSI has offices in New York, Chicago, Los Angeles, San Francisco, Miami, Philadelphia, Cleveland Columbus, and London.