Houlihan Lokey Named Prabha Sipi Bhandari Legal Chief
The firm appointed the former Paychex executive to lead its global legal, compliance, and board secretarial operations.
Updated on Sept. 22, 2026 in People
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Houlihan Lokey has appointed Prabha Sipi Bhandari as its new chief legal officer. Bhandari, who previously held senior legal roles at Paychex, will oversee the firm's global legal and compliance activities while serving as corporate secretary.
Why it matters
The appointment marks a significant leadership transition for the firm as it brings in a seasoned legal professional to manage its global regulatory and corporate governance responsibilities.
Prabha Sipi Bhandari joins the firm following an extensive career spanning roles at Paychex, AIG, Freddie Mac, Viacom, and Deutsche Bank. Her predecessor, Christopher Crain, had served as the firm's general counsel since 2004.
The players
Prabha Sipi Bhandari
She is the new chief legal officer at Houlihan Lokey who previously served as the chief legal and ethics officer at Paychex.
Christopher Crain
He is a long-standing executive at Houlihan Lokey who served as general counsel since 2004 and is now transitioning to a corporate senior adviser role.
Houlihan Lokey
It is a global investment bank that provides advisory services in mergers and acquisitions, capital markets, and financial restructuring.
The details
Bhandari brings broad experience from various high-level positions, including her time as a corporate associate at Davis Polk & Wardwell and a law clerk at the US Court of Appeals for the Fifth Circuit. She now assumes responsibility for all legal and compliance functions at Houlihan Lokey.
Timeline
2004: Christopher Crain began his tenure as general counsel.
September 22, 2026: Houlihan Lokey officially announced the leadership hire.
Market Landscape
This transition aligns with the industry-wide practice of firms recruiting high-level legal talent to navigate increasing global regulatory complexity. By securing a veteran from the legal and corporate sectors, the firm strengthens its internal governance against major financial competitors.
For clients and stakeholders, this transition ensures that the firm's global legal and compliance activities remain under the direction of an experienced industry executive. There are no immediate changes to service availability or retail pricing as a result of this internal leadership move.
The takeaway
This leadership shift highlights how major financial institutions prioritize seasoned legal expertise to manage complex global compliance mandates. Investors and partners can expect continued focus on governance as the firm integrates new executive oversight into its legal strategy.
Further reading
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