Goodwill Impairment at Financial Institutions

Presented on:
September 29, 2020 10:00 AM PT
1 hour

As the stock prices of many financial institutions continue to trade below their book value, the potential for goodwill impairment continues to increase. Join us for an on-demand webcast on goodwill impairment for financial institutions. We’ll discuss goodwill impairment considerations, the changes institutions must make in response to ASU 2017-04, and the industry effects caused by the COVID-19 pandemic.



David W. Giesen, Senior Managing Director, Ankura

David W. Giesen is a Senior Managing Director at Ankura, based in Chicago. His specialty includes financial valuation, credit due diligence and analysis, merger, and acquisition support, and operational consulting for banks, savings institutions, credit unions, and other financial service providers. Dave has worked in the financial services business for more than 30 years. He also has financial analysis experience in the passenger railroad business. Dave served as a managing director in Navigant’s transaction advisory services practice, acquired by Ankura in 2018. In that role, he led engagements covering financial institution valuations, credit due diligence, regulatory compliance, mergers and acquisitions, and corporate strategy and operations. His work assisted banks in evaluating whether to move forward on acquisitions based on credit review, financial performance, and expected goodwill.

Gabe Nachand, Partner, Moss Adams

Gabe Nachand joined Moss Adams in 1995 and has been a partner in the Financial Services Practice since 2005. He’s a 2008 graduate of Pacific Coast Banking School and has been auditing and consulting with financial institutions virtually his entire career. In 2000, Gabe received the firm’s Technical Excellence Award in recognition of his technical expertise. Gabe’s client base consists exclusively of financial services companies, many with complex accounting and auditing issues. His areas of expertise include enterprise risk management implementation and evaluation; technical accounting matters such as acquisition accounting, stock-based compensation, mortgage operations (servicing, hedging, and related derivatives), and fair value considerations; customer profitability; due diligence engagements; credit review and allowance methodologies; and SEC financial reporting (periodic reporting and registration statements).

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