PricewaterhouseCoopers and Z Asset Advisors Announce Joint Business Relationship

NEW YORK, July 8 /PRNewswire/ -- PricewaterhouseCoopers LLP (PwC) and Z Asset Advisors Group, LLC (ZAA), an innovative proprietary analytics provider, today announced a Joint Business Relationship (JBR) to deliver an integrated and customizable platform to support business requirements for financial institutions in the areas of accounting, operations, compliance, tax and technology.

Utilizing the vast experience of PwC professionals in their FDIC assisted transactions team, ZAA will work with PwC to deliver a software solution to organizations in need of navigating complex accounting, tax and reporting requirements associated with FDIC assisted merger and acquisition transactions.  These types of transactions are extremely complex, and to obtain the greatest return from these acquisitions, acquirers need to implement specific accounting and risk reporting into the business, which is the primary function of this software solution.

While the economy and financial system are recovering from the financial crisis, 775 banks were on the FDIC's list of "problem" banks at the end of the last quarter. The sizable number of at-risk banks has created opportunities for investors, and demand for expertise in taking over and integrating failed banks.

"At PwC, we are dedicated to educating, advising and assisting financial institutions in successfully navigating this complex environment," said Rick Bennett, partner, banking and capital markets, PricewaterhouseCoopers. "We believe the current market presents a significant number of potential opportunities for investors that have the liquidity and capital strength to be acquisitive and this joint business relationship only strengthens our overall service offering," he added.

As a result of this JBR, PricewaterhouseCoopers and ZAA will be able to deliver organizations a solution that combines the industry knowledge and leading practices of PwC with a comprehensive and highly customizable software platform.  The jointly delivered solution will include the following:

• Loan data management
• SOP 03-3 accounting and impairment analysis
• Loan level cash flow forecasting and valuation tools for all loan types
• Loan performance reporting
• FDIC indemnification accounting and tax reporting capabilities
• An integrated and user-friendly interface

"PricewaterhouseCoopers is a clear leader in the FDIC assisted transaction space and enjoys deep client relationships which will benefit greatly from our combined efforts to meet their needs," said Brian Hargrave, Principal, Z Asset Advisors Group.  "We are thrilled to be working together with PricewaterhouseCoopers in this endeavor and look forward providing leading industry knowledge and solutions to clients globally," he added.

About Z Asset Advisors Group, LLC

Z Asset Advisors combines an experienced group of professionals and a proprietary analytics platform with global credit and asset expertise to provide innovative solutions and advice to clients with respect to their asset portfolios.  ZAA provides a broad range of services to meet its client's individual needs, including asset analytics and analysis, portfolio management services, and whole loan portfolio solutions.

About PricewaterhouseCoopers LLP

PricewaterhouseCoopers (www.pwc.com) provides industry-focused assurance, tax and advisory services to build public trust and enhance value for its clients and their stakeholders. More than 163,000 people in 151 countries across our network share their thinking, experience, and solutions to develop fresh perspectives and practical advice.

"PricewaterhouseCoopers" refers to PricewaterhouseCoopers LLP or, as the context requires, the PricewaterhouseCoopers global network or other member firms of the network, each of which is a separate and independent legal entity.

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SOURCE PricewaterhouseCoopers LLP