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Rishi is a senior manager and plays a key role in providing clients with valuation-related transaction consulting services. He has particular expertise in intangible asset identification and valuation for financial reporting or tax-related purposes. He has performed many valuations that have been agreed with the Shares Valuation Division of HMRC. He is particularly interested in the defence, retail and finance sectors and has had broad client exposure in these and other industries.

Rishi joined American Appraisal in 2006. In 2001, Rishi joined KPMG and qualified as a Chartered Accountant in the insurance and investment management division within the Audit and Assurance practice. Subsequently, he joined KPMG’s Private Equity Group, where he audited the valuation of unlisted private equity investments.

Examples of client experience include:

• Providing the market value of an insurance underwriting agency based in the Netherlands to assist one of Japan’s largest non-life-insurance providers in considering its strategic options in relation to potentially acquiring the insurance underwriting agency
• Preparing an information memorandum relating to a proposed sale of an owner-managed business
• Managing the valuation of a fund manager with £20 billion assets under management (annually valuing the entire operating business, allocating that value to all of the different units within the business, valuing new share classes for tax purposes and agreeing valuations with HMRC)
• Advising a listed German-based logistics company on the allocation of value between different classes of share, both before and after acquiring a remaining stake in a competitor; the transaction involved substantial changes in the financing structure, with four classes of share with varying rights being transferred to new classes of shares with different rights
• Undertaking intangible asset valuations for numerous mid-cap and small-cap companies (FTSE main market and AIM) across multiple sectors and geographies
• Completing share valuations for tax purposes for numerous companies in multiple sectors where either the sale proceeds or the base cost had to be negotiated and agreed with HMRC
• Managing the quarterly restricted and unrestricted market valuation of certain share classes of a leading global financial information services company
• Undertaking intangible asset valuations for a FTSE 100-listed leading global defence group relating to various acquisitions in accordance with IFRS 3R
• Valuation of share-based payments for numerous companies in accordance with IFRS 2/FRS 20
• Valuation of IP transferred from the UK to Netherlands/Luxembourg for taxation purposes for a high-profile footwear company and a leading global financial information services company

Education

• University of Nottingham, Bachelor of Arts - Industrial Economics (First Class Honours)