Richard D. Hitt

Managing Director

Transaction Advisory

Chicago - Headquarters, IL +1.312.583.2621

Areas of Expertise

Richard Hitt is a Managing Director and the Practice Leader for the Transaction Advisory Services practice. With more than 20 years of experience in the financial services industry, Rick has led engagements involving some of the largest acquisitions to date in the banking, thrift, brokerage, insurance, and merchant processing sectors.

Rick’s experience includes the valuation of equity interests, intangible assets, and financial instruments. These valuations have been performed in connection with mergers, acquisitions, divestitures, employee stock ownership plans, litigation, tax and financial reporting purposes (including FASB ASC 350 and FASB ASC 805). In addition, he has advised numerous community banks on shareholder value issues. His financial advisory experience includes buy-side and sell-side advisory in banking, mortgage banking, insurance brokerage, and professional services firms. 

Select engagement experience includes:

  • Provided valuation assistance to a $50 billion bank holding company; assisting the bank in assessing the value of a target mutual fund.
  • Provided ASC 350 and ASC 805 valuation assistance in the merger of two $150 billion US banks.
  • Provided valuation assistance to a $300 billion financial institution associated with its establishment of a joint venture with a top 10 brokerage house.
  • Provided valuation assistance to a West Coast bank holding company, assisting the bank in evaluating the enterprise value of an acquired broker dealer subsidiary, for purposes of evaluating its goodwill.
  • Initiated and advised a Midwest based bank holding company in the acquisition of 7 branches of a super-regional bank.  This transaction allowed the client entry into an adjacent market and increased its size by 50 percent.

Rick is a frequent speaker to industry groups and has provided expert witness testimony on valuation issues in tax court, dissenting shareholders rights cases, and arbitration cases.

M.S.A., Accounting, Eastern Michigan University
B.S. Engineering, University of Michigan


*While many of Navigant’s professionals are Certified Public Accountants licensed in various states, Navigant is not a certified public accounting firm, and neither our professionals nor Navigant provide attest, or public accounting services.

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Richard D. Hitt

Managing Director


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