Houlihan Lokey Names Paychex Legal Chief as New CLO
Event summary
- Prabha Sipi Bhandari appointed Chief Legal Officer at Houlihan Lokey, effective September 22, 2026.
- Succeeds Christopher Crain, who served as General Counsel since 2004 and transitions to Corporate Senior Advisor.
- Bhandari previously held top legal roles at Paychex, AIG, Freddie Mac, Viacom, and Deutsche Bank.
- Bhandari will oversee global legal and compliance functions and serve as corporate secretary to the board.
The big picture
Houlihan Lokey’s appointment of Bhandari reflects a strategic pivot toward deeper compliance and governance expertise amid increasing regulatory scrutiny in global financial services. Her background in M&A legal advisory suggests a focus on high-value transactional work, aligning with Houlihan Lokey’s expansion ambitions. The move also signals a generational shift in leadership, with Crain’s 22-year tenure marking an era of stability now transitioning to a new phase of growth-oriented legal strategy.
What we're watching
- Regulatory Adaptation
- How Bhandari’s experience at Paychex and AIG will shape Houlihan Lokey’s approach to evolving financial regulations.
- M&A Strategy
- Whether Bhandari’s M&A legal background will accelerate or reshape Houlihan Lokey’s deal pipeline.
- Leadership Continuity
- The pace at which Crain’s transition to advisor role impacts institutional knowledge retention.