SOURCE: Great American Group

June 12, 2009 17:29 ET

Great American Group® Hires Michael A. Petruski as Senior Vice President

WOODLAND HILLS, CA--(Marketwire - June 12, 2009) - Great American Group, an auction, liquidation and asset valuation firm, announced the appointment of Michael A. Petruski as the new Senior Vice President of Advisory & Valuation Services, LLC. Michael will provide guidance and assistance in developing insightful Industrial Inventory and Machinery and Equipment valuations, as well as support for the client relationship managers.

Lester Friedman, Chief Executive Officer of Great American Group's Appraisal group, said, "Michael's industrial background in manufacturing, asset sales and liquidations and his leadership role in the appraisal industry for asset-based lending ("ABL") will fill a much-needed role in our organization. We look forward to Michael's insight and experience, which will enhance our industrial appraisal and liquidation businesses."

Michael has over 22 years of collateral evaluation and appraisal experience in ABL. Prior to joining Great American Group, Michael served as the Director of the Collateral Evaluation Group at Wachovia Capital Finance, a Wells Fargo Company. Prior to Wachovia, he was the Vice President of Collateral Evaluations at Citigroup's Structured Finance Division. With significant field experience in manufacturing operations and wholesale distribution, Michael has performed inventory and machinery and equipment collateral due diligence for more than 1,000 companies. Michael also brings management experience in manufacturing operations and machinery sales as a former executive with the American Can Company. As a collateral expert, Michael led and participated in ABL appraisal panels for the Commercial Finance Association, the American Society of Appraisers and the Association of Machinery and Equipment Appraisers. Michael will be based in our new office in Charlotte, NC.

"I am excited to be joining a well-known, respected and high-energy organization like Great American Group," said Petruski. "The opportunity to leverage my industrial experience with my ABL appraisal and collateral knowledge will be a value-added resource to enhance Great American Group's status as one of the nation's leading auction, liquidation and asset management firms."

Great American Group provides a full range of asset management, disposition and financial services through three divisions: Retail Liquidations, Auctions, and Appraisals & Valuations, with offices in Atlanta, Boston, Charlotte, Chicago, Los Angeles, New York and San Francisco.

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