We are a highly experienced team of professionals who seek the diverse, the complex—and its solutions. We are client driven, allowing your entity to focus on new business. We will always exercise discretion, balance, and fairness.

Above all else, we will always employ Original Thinking.

Key Personnel

  • Ralph Griffith

    CEO AND PRESIDENT

    Ralph Griffith has extensive experience in investment banking, corporate lending, and investment management. Through his work with the Export-Import Bank of the United States, he has recovered assets, restructured loans and prepared loan guarantees. For 20 years, he served in senior corporate lending roles at Ameritrust, Bank One and Huntington Bank, where he performed marketing and strategic planning for commercial mortgage securities. He also served as a Managing Director at Helston Capital, an investment bank specializing in corporate finance advisory, debt and equity financing and restructuring for privately held companies. Mr. Griffith was also a Principal in OhioAngels.com, introducing early-stage technology companies to pre-qualified private investors and professional firms, and assisting these early-stage companies with planning and access to capital.

    Mr. Griffith has extensive expertise in complex financial transactions, fund administration and asset recovery. He is also skilled at restructuring and turnaround management and has served as a receiver in Ohio.

    He earned his MBA from Keller Graduate School of Management, and a bachelor’s degree from Ohio Wesleyan University.

    LinkedIn

  • Jordan Fromm

    SENIOR VICE PRESIDENT

    Jordan Fromm serves various roles for VRG Companies. Mr. Fromm leads VRG real estate initiatives; he is engaged in the asset management, project management, site development, capital investment, and disposition of VRG-held real estate, consults real estate projects and teams across the region. Mr. Fromm also manages a multi-million dollar portfolio of distressed receivables from failed financial institutions pursuant to a public private partnership with the FDIC, and similar portfolios of distressed receivables for active financial institutions Additionally, Mr. Fromm serves as the Director of Project Development for MidAmerican Global Ventures LLC--a VRG Company--which provides mezzanine lending for Ohio construction projects through its two EB-5 Regional Centers covering 35 counties in the State of Ohio.

    Early in his career, Mr. Fromm served in VRG’s contract with the GSA, which was responsible for the assessment and disposition of excess Federally-held real estate, was engaged on Federal contracts in Washington DC and with the State of Ohio, and was on planning staff with the City of Dublin, Ohio during the planning, roll-out, and development of the acclaimed Bridge Street District.

    He earned an MS from The Ohio State University, and a BS from Indiana University with Honors and Distinction

    LinkedIn

  • Keith Hadley

    CFO and SENIOR VICE PRESIDENT

    Keith Hadley is the CFO and Senior Vice President for VRG Companies and its subsidiaries. Mr. Hadley oversees the accounting department and handles the accounting, finance and treasury management duties. Other responsibilities include the oversight of all accounting and finance compliance, the consolidation of the numerous other subsidiary companies, and leads all financial reporting responsibilities for contracts managed by the VRG Companies.

    Mr. Hadley has extensive experience as an entrepreneur, and specialized in turning around small, distressed companies in various industries. Prior to Mr. Hadley’s experience as an entrepreneur, Mr. Hadley served as CFO at Pages, Inc., a publicly traded company that sold subscription-based award-winning books to school and public libraries. Before Pages, Inc., Mr. Hadley served as Compliance Manager at Crown NorthCorp, working with the Resolution Trust Corporation (“RTC”)—in this role, Mr. Hadley oversaw the accounting department staff of 20 that was responsible for 262 subsidiary companies of failed Savings & Loans. Prior to Crown Northcorp, Mr. Hadley served in several capacities at Cardinal Industries, Inc. as it navigated and successfully emerged from bankruptcy. These roles included Accounting Manager, Compliance Manager (where Mr. Hadley had responsibility over SEC filings), and Corporate Tax Manager.

    Early in his career, Mr. Hadley worked at several smaller sized accounting firms.

    He earned his BS/BA in Finance from the University of Akron.

  • Thomas C. Washbush

    OF COUNSEL

    Thomas C. Washbush is a distinguished business attorney with over three decades of experience advising corporate clients on complex legal and financial matters. As the founder of Washbush Business Law, LLC, he serves as a trusted advisor to C-suite executives, focusing on transformational events such as mergers and acquisitions, capital market financing, and strategic growth initiatives. He has been consistently named to the Super Lawyers list from 2012 to 2025, Best Lawyers, and holds an AV Preeminent rating from Martindale-Hubbell.

    Throughout his career, Mr. Washbush has represented more than 50 venture capital and private equity firms, handling transactions valued at over $10 billion. He has also advised public pension funds on investment strategies and fiduciary responsibilities, particularly concerning limited partnership investments in private equity.

    In addition to his legal practice, Mr. Washbush has held significant roles in both the public and private sectors. He served as Chief of Staff and General Counsel for the Ohio Department of Development and was partner in charge at a large regional law firm.

    He is the chief founding member and former president of the Association for Corporate Growth's Columbus Chapter and served on its Global Board of Directors.

    Mr. Washbush earned his bachelor's degree from Bowling Green State University and his Juris Doctor from Capital University Law School.

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  • Vicki Baltzell

    ASSISTANT VICE PRESIDENT, COLLECTION MANAGER

    Vicki Baltzell is an Assistant Vice President and Collection Manager for VRH, the Asset Recovery division of VRG Companies, and has been with the company for over 15 years. Vicki manages state and local-level collection contracts. Vicki also serves as an asset manager on portfolios containing millions of dollars in distressed commercial and consumer receivables from failed financial institutions within a partnership with the FDIC, along with the distressed receivables from active banks that VRG lists as clients. She also supports the administrative and operations functions of the division, and maintains expertise over consumer collection matters. Vicki also serves as the in-house Private Investigator for VRG in states which she maintains licenses.

    Vicki has become a leading investigator and skiptracer for VRG, based on 20 years of experience in collections and investigative research. In addition to her current experience, Vicki has worked in the other fields of collections, including but not limited to medical, returned checks, payday loans, student loans, auto loan deficiencies, defaulted mortgages, nursing home, and funeral home receivables.

    Vicki obtained her Certification in Private Investigation from the Stratford Career Institute, and a Bachelors of Arts in Anthropology from The Ohio State University.

    LinkedIn

  • Kathy Cleveland Bull

    DIRECTOR OF HUMAN RESOURCES

    In addition to directing Human Resources for the Companies, Kathy provides leadership for multiple and varied efforts related to strategic organizational effectiveness, change management, team effectiveness and talent development initiatives and programs throughout the organization. Her main areas of focus are:

    Kathy’s consulting practice, N~Compass Consulting, is internationally-renowned, and provides Value Recovery Group clients the opportunity to benefit organization-wide through personal and professional development keynotes, seminars, and retreats. She consults on successful change strategies, organizational culture, talent development and employee engagement. Her clients include The Social Security Administration, Nationwide, Accenture, Novartis, the US Department of Defense, Westfield Insurance, Marzetti’s, Piedmont Healthcare and more than 50 colleges and universities in the US and Canada.

    Kathy obtained a BA in Psychology, an MEd in College Student Development, and an MEd Counseling from Bowling Green State University.

    Kathy served her alma mater as Member of the Bowling Green State University Alumni Board of Trustees; Chair of the Arts and Sciences Board of Advocates, and the University Honors Leadership Council. Kathy was honored to deliver the May 2006 Commencement Address at BGSU.

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Remembering our Founder

Barry Fromm – May 27, 1950 – October 25, 2018

Barry Fromm drew from his extensive experience as an entrepreneur, and as Chairman and CEO of Value Recovery Group and its portfolio companies. He had a long-standing history of developing public-private partnerships that align the incentives of both parties to produce high-quality results through a documented history of clear communication and highly responsive action in all agency interactions. He developed partnerships with FDIC, the Resolution Trust Corporation, the Export-Import Bank of the United States and the Ohio Attorney General. His spirit is still a driving force in this company.

Prior to forming Value Recovery Group, Fromm served as corporate counsel for a savings and loan association, and served as a financial institutions management consultant for Deloitte and PricewaterhouseCoopers. He also served as an asset valuation and asset management contractor to the Resolution Trust Corporation, where he managed a $200 million portfolio of non-performing loans and real estate.

He earned a JD from The University of Akron Blake McDowell School of Law, and a bachelor’s degree in Business Administration from Butler University.