Development Specialists, Inc. Announces the Formation of DSI Civic Financial Restructuring

CHICAGO, IL  (April 13, 2011) — Recognizing the growing demand for public sector restructuring services, Development Specialists, Inc. (www.dsi.biz) today announced the launch of DSI Civic Financial Restructuring (“DSI Civic”, www.dsicivic.com), a new venture designed to meet the unique demands of municipalities and other governments facing financial difficulty.

While the financial issues faced by struggling governments are similar to those of DSI’s distressed business clients, the demands of taxpayer accountability and shared decision-making in the public sector introduce unique challenges.  Accordingly, DSI Civic will integrate DSI’s industry leadership in the finances of restructuring with the expertise of public-sector specialists to fully serve the needs of government clients.

Among the public sector professionals joining DSI is John Filan, who will join DSI founder and president Bill Brandt as co-leaders of DSI Civic.  With extensive public finance experience from inside and outside of government, Mr. Filan is among the country’s foremost experts in the municipal bond market and government budgeting and accounting.  Filan served as the Executive Director of one of the nation’s largest self-financed entities issuing bonds, making loans, and investing capital for businesses, non-profit organizations and local governments. In addition, Filan spent four years overseeing the budget in Illinois, the fifth largest state in the nation, as well as almost two years handling day-to-day government operations for Illinois. For 25 years, he led and became managing partner of a leading accounting and management-consulting firm (one of Crain’s Top 25) with more than 100 state and local government clients. Find more information about John Filan here http://www.dsicivic.com/about-us/management-team/john-b-filan.

With the addition of new personnel, DSI Civic professionals have represented more than 60 state and local governments, including several in financial stress.  DSI Civic areas of expertise include debt restructuring, government reorganization, pension reforms, contract negotiations and public private partnerships.

ASGK Public Strategies, a Chicago-based national public affairs firm with strong private and public sector communications capabilities, will provide its expertise to DSI Civic in the area of public engagement.  To find more information about ASGK please visit www.asgk.com.

Development Specialists, Inc. has been one of the nation’s most prominent workout and turnaround firms for the last 35 years.  A nationally-recognized industry leader, DSI specializes in services related to financial restructuring, employee benefits, turnaround consulting, forensic and litigation accounting, and other financial corporate services.  By utilizing these services and more, DSI has implemented strategies that bring about increased efficiencies for its clients. To find more information about DSI please visit www.dsi.biz.

Contacts:

Joe Goldberg
DSI Civic, Media Relations
312-664-0153
jgoldberg@dsicivic.com

Sophie McCarthy
DSI Civic, Media Relations
312-664-0153
smccarthy@dsicivic.com