Duff & Phelps await the next salvo from the BBC. After last night’s exposure of David Grier apparently agreeing that he and Duff & Phelps knew about the Ticketus deal prior to the Craig Whyte takeover, I imagine there are nervous people in London and Manchester awaiting what is coming next.
And a bad sign perhaps for D&P in the UK comes from the identity of the “spokesman” quoted late last night by the BBC responding to the revelations last night.
As the BBC reported:-
Duff and Phelps spokesman Marty Dauer said: “As we have previously stated, Duff and Phelps maintains that our conduct of the Rangers administration was carried out to the highest professional standards.
“We do not respond to information that is taken out of context, as we believe is the case in the BBC story.
“We welcome the opportunity to review a complete copy of the information that the BBC references in its story.”
Who is Marty Dauer?
He is a long way from being a mere “spokesman”.
He is in fact “a managing director and the chief marketing and communications officer in the firm’s New York office”.
His bio on the D&P website reveals that:-
“He leads efforts to build the company’s brand and communicate internally and externally about the company by focusing on the areas of media and investor relations, advertising and communications. Marty has more than 15 years of global marketing, branding, advertising and communications experience.
“Prior to joining Duff & Phelps, Marty was the senior vice president of marketing and communications at Marsh, the world’s leading risk and insurance brokerage firm. He also served as a senior director in financial communications at Tyco International and in communications and financial leadership roles at General Electric.
“Marty specializes in integrating marketing and communication efforts to maximize impact for organizations globally. He has led numerous efforts to remake corporate brands after significant corporate setbacks and has successfully built integrated global teams to deliver enhanced brand value.
“Marty holds an M.B.A. from the State University of New York at Albany and an M.S. in finance from Siena College. He is a certified GE Six Sigma black belt.”
I do not know what a GE Six Sigma black belt is, but I suspect it has its uses!
So finally, after being battered and ridiculed over the eight months since they appeared on the scene as administrators, the New York HQ of Duff & Phelps is becoming directly involved.
Having only bought over MCR to incorporate it into D&P last year, and no doubt having paid the partners of MCR lots of money for doing so, one can only imagine what HQ is thinking about the operation it has bought. For all of the fine work which MCR undoubtedly have done, and I am sure would continue to do under the D&P banner, the question is whether or not this is a limb which the global D&P would excise.
If D&P had got the all clear from the court and from the Insolvency Practitioners’ Association on the conflict questions, would the New York MD be issuing statements?
I wonder if, in the event of D&P, or partners thereof, being found to have acted inappropriately, there is a “get out” clause for D&P Global. In such an event, MCR might find itself back in business.
Mr Dauer “has led numerous efforts to remake corporate brands after significant corporate setbacks”.
Possibly as a result of the actions of Mr Grier and his colleagues, he might find himself having to do the same for his own organisation!
It is, I think, very significant that New York is now directly involved, and I wonder how often we will hear in future from Messrs Grier, Clark and Whitehouse?
But even Mr Dauer could not deny the claims, instead saying they do not comment on things out of context!
The next Mark Daly report is due in 7 minutes – I’m off to warm up the TV!
Posted by Paul McConville