In 1972, Houlihan Lokey opened its doors with the purpose of providing independent ideas and trusted advice.Recognizing an underserved market for business and securities valuation, O. Kit Lokey and Richard Houlihan left Price Waterhouse to form Houlihan Lokey, a financial consulting firm that provides valuation, accounting and financial services to privately held companies, including financially distressed companies.
In 1977, Richard Houlihan departed from the firm to pursue outside interests. James H. Zukin joined the firm from Marshall & Stevens in 1976.
In 1974, Robert F. Howard joined the firm from INA Corporation. The firm moved its headquarters to Century City, Calif., where it emerged as one of a growing number of firms that would establish Los Angeles as a major financial market. The Employee Retirement Income Security Act was signed into law by President Gerald Ford, and Houlihan Lokey began to specialize in the valuation of businesses and securities for ESOP transactions, becoming one of the nation’s preeminent providers of ESOP-related financial advisory services.more » « less