Kroll Announces Formation of Kroll Business Services

Incorporates Newly Acquired Companies and Strengthens Legal and Business Solutions Offering

NEW YORK--(BUSINESS WIRE)--Kroll, the world’s premier provider of services and digital products related to governance, risk and transparency, today announced the formation of its Kroll Business Services division. Kroll Business Services brings together Prime Clerk and Heffler Claims Group, which were acquired by Kroll in 2019, and The Lucid Companies (Lucid Issuer Services, Lucid Agency and Trustee Services and Fluyd), which were acquired by Kroll in 2020, under a unified brand as the global leader in claims administration, corporate actions, loan and bond administration, restructuring, liability management, notice media and other related complex legal and business solutions.

Shai Waisman, who previously served as CEO and founder of Prime Clerk, will lead as President of Kroll Business Services, reporting to Jacob Silverman, CEO of Kroll.

Silverman commented, “Each of these businesses was an innovator and industry leader on their own, but now that they are together, we have the most comprehensive suite of claims administration, restructuring, and loan and bond administration services in the market. Our experts, cutting-edge technology and data-driven solutions allow us to accurately and efficiently support our clients and scale to meet all their needs.”

Kroll Business Services is the only provider able to deliver turnkey solutions for a wide range of debt restructuring and liability management services. Through the team’s highly experienced industry experts, innovative, proprietary technology platforms and unrivaled data security measures, Kroll Business Services drives accuracy, efficiency and cost savings while providing unlimited global scalability for each engagement.

The new business unit consists of the following service areas:

• Prime Clerk
• Class Action Administration
• Mass Tort Administration
• Regulatory and Government Administration
• Notice Media Solutions
• Lucid Issuer Services
• Lucid Agency and Trustee Services
• Corporate Actions
• Business Technology

Waisman commented, “Since Prime Clerk joined forces with Kroll in 2019, our business services capabilities have grown at a rapid pace. With Kroll Business Services, we’re able to unite our industry leading experts across these specialties to provide a truly global suite of services that is unmatched in the strength of its professional teams and deployment of technology. We plan to continue this growth trajectory and maintain our focus on providing creative and outstanding solutions to our clients in order to make their lives and their jobs easier.”

The launch of Kroll Business Services follows the firm’s announcement to unify Duff & Phelps, Kroll and its other brands under the Kroll name. Kroll Business Services joins the Kroll family of brands, including Duff & Phelps Valuation Advisory, Duff & Phelps Corporate Finance and Kroll Government Solutions.

About Kroll

Kroll is the world’s premier provider of services and digital products related to governance, risk and transparency. We work with clients across diverse sectors in the areas of valuation, expert services, investigations, cyber security, corporate finance, restructuring, claims administration, data analytics and regulatory compliance. Our firm has nearly 5,000 professionals in 30 countries and territories around the world. For more information, visit www.krollbusinessservices.com.