John F. Spude, ASA

Principal, Executive Managing Director

Practice Liaison to Senior Management

Fairness & Solvency Opinion Review Committee



[email protected]


John F. Spude, ASA is a Principal and Executive Managing Director for Marshall & Stevens. 

Mr. Spude leads Marshall & Stevens’ Senior Management Team oversight to the Energy & Infrastructure (“E&I”), Financial Valuation (“FIN”), Machinery & Equipment (“M&E”), and Transaction Advisory Services (“TAS”) practices, and a member of the Fairness and Solvency Opinion Review Committee.

Mr. Spude’s responsibilities include working closely with and being a resource to the leadership of each of the firms acquired by Marshall & Stevens. He also provides oversight to the E&I, FIN, M&E and TAS practices of Marshall & Stevens. He is a longtime member of Marshall & Stevens’ internal review committee for Fairness and Solvency Opinion analysis.  

Active in the valuation profession since 1983, Mr. Spude led the national Financial Valuation & Consulting practice for Marshall & Stevens until 2023. He has managed and performed thousands of analyses including valuations for public and closely held companies, the valuation and lifing of intellectual properties and intangible assets, the quantification of economic obsolescence in tangible asset valuations, and the analysis and valuation of reporting units, debt and equity securities, and tangible and intangible assets.  

Mr. Spude led analyses for financial reporting, tax planning and reporting, buy/sell consideration, ESOP compliance, and dispute resolution. He has provided expert witness testimony in valuations and economic damage assessments in the states of Colorado, Florida, Illinois, Minnesota, Tennessee, and Texas.

Mr. Spude is an Accredited Senior Appraiser (“ASA”) of the American Society of Appraisers and a member of the Business Valuation Association. Mr. Spude has been an instructor of the Uniform Standards of Professional Appraisal Practice (USPAP).

Professional Highlights

  • Member, Business Valuation Association
  • Marshall & Stevens, Inc.
    Principal, Executive Managing Director, 2009-present 
  • Kroll Associates, Inc. 
    Managing Director, 2005-2008
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