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Hello everyone and welcome to At Bairns. I'm Andy Surwer and welcome to our guest, Scott Adelson,

CEO of Houlihan Loki. Scott, great to see you. Thanks for joining us. Thank you for having Andy.

So Hulahan Loki is a moderate size investment banking business. What does that mean in practical terms? What do you guys do?

So consider ourselves one of the independent investment banks and there are a handful of us that are public companies.

We happen to be the largest of them. And it is basically think of no balance sheet, typically, no sales and trading operations.

It is an advisory focused, in our case global investment bank.

We're focused in a few areas, mergers and acquisitions, raising capital almost exclusively

or predominantly private capital, financial restructuring, and then our legacy business of many years ago,

which is all around financial advisory services.

Right.

What does that mean financial advisory services?

There's different components to it, financial opinions, portfolio valuations, very important

today as more and more illiquid securities needing marks on those securities around the world.

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