CHICAGO, IL--(Marketwire - December 29, 2008) - MorrisAnderson is pleased to announce that Mark J. Welch in MorrisAnderson's Cleveland office has been promoted to Managing Director effective January 1, 2009.

Dan Dooley, Principal and COO of MorrisAnderson, states, "Mark has been with MorrisAnderson for almost ten years and during that time I have come to know him well. He is an individual with outstanding character and work ethic." Adds Dooley, "Mark's financial and senior level experience, as well as his extensive knowledge in a variety of industries, including automotive, aerospace, plastics, food service, factoring, transportation, telecommunications, construction and retail -- to name just a few -- has made him an extremely valuable resource to us. Mark is well liked throughout the company and we are all very happy that he has become a member of our Leadership Team."

As a senior financial executive and management consultant, Welch has led numerous turnaround, crisis management, recovery and bankruptcy assignments in various business sectors. He has held interim-management positions as a CFO, CRO, Controller and Cash Manager with underperforming and bankrupt companies, and has optimized recoveries in liquidations, receivership, and bankruptcy sales. He has specific expertise in bankruptcy, cost reduction, asset recovery, restructuring plans, internal control development and liquidation.

Prior to joining the firm, Welch was the Director of Internal Audit at Southern Air Transport, Inc., a mid-sized cargo air-transport airline. Prior to that, Welch spent eight years as a Liquidation Auditor with the Office of Inspector General for both the Federal Deposit Insurance Corporation and the Federal Home Loan Bank Board. In that capacity, he specialized in large bank assistance agreement transactions, liquidations, inventory audits, due diligence reviews, information systems audits and congressional inquiries.

Welch has testified in state and federal courts as an expert witness, prepared fraud cases for the government and testified in bankruptcy court.

Welch is a CTP (Certified Turnaround Professional) as well as a CPA. He is an accounting graduate from Indiana University of Pennsylvania.

More about MorrisAnderson:

Now celebrating its 28th anniversary, Chicago-based MorrisAnderson has offices in New York, Atlanta, Milwaukee, Los Angeles, Cleveland and St. Louis. The firm's service offerings include performance improvement, financial advisory, investment banking, interim management, lender services, turnarounds, workouts, litigation support, valuation, information technology services, and insolvency services and wind-downs. MorrisAnderson emphasizes hands-on involvement for companies with $20 million to $200 million in annual sales.

Contact Information: For More Information: Marjorie Dunn Manager, Marketing & Communications 312/254-0892