Deloitte Financial names Bandolik director of distressed debt, asset practice
Steven Bandolik has joined Deloitte Financial Advisory Services as director of the company's distressed debt and asset practice. The company said Bandolik will develop tax, audit, and financial advisory and consulting services nationally. He said the real estate industry needs to return to the basics of managing hard assets and maintaining relationships. "Challenges need to become opportunities in order for borrowers, lenders and investors to move forward, and get back to their core business of making positive returns on investments," Bandolik said. "In this environment, clients require intellectual capital to re-structure transactions, and design sensible underwriting, due diligence and risk management procedures." Bandolik's background includes years of experience in asset recovery and commercial mortgage-backed securities. He has worked in the real estate industry for over 30 years. He started his career with Deloitte in 1975. More recently, he founded the Real Asset Recovery Group. He's also worked in senior management positions with Nomura Securities International, Transwestern and Colliers B & K Management. Deloitte's distressed debt and asset practice has more than 60 partners, principals and directors, the company said, with experience in debt-advisory services, rating agencies, debt origination and underwriting, workout and restructuring, capital markets and investment banking. Sarah Mueller is an editorial assistant with HousingWire.