Philly seeks to attract major employers to former refinery sites with new initiatives.

Hilco Global, a developer and troubled-asset liquidator based in Illinois, has made significant strides in advancing its Bellwether District project, which aims to repurpose the former industrial sites of Philadelphia’s oil refineries. The company has announced the hiring of two prominent executives to bolster its operations and attract potential employers to the redevelopment initiative.

Patrick J. Murphy, who previously served as a U.S. Congressman representing Bucks County from 2007 to 2011 and was the acting Army Secretary at the conclusion of President Barack Obama’s administration, has been appointed as the chairman of Hilco Global’s newly established Geopolitical Unit. In his new role, Murphy will lead a team dedicated to providing strategic advice, research, and briefings to Hilco’s corporate clients, enabling them to navigate the complexities of a rapidly changing global landscape.

Murphy, who resides in Bristol and is also a partner at MKF Advisors, emphasized the importance of equipping clients with the tools needed to succeed in an unpredictable economic environment. His experience in government and consulting positions him well for this role, where he aims to enhance Hilco’s advisory capabilities.

In addition to Murphy, Hilco Global has appointed Alexander Niejelow as the chief executive officer of Hilco Global Cyber Advisers. Niejelow, a University of Pennsylvania law graduate with a background in cybersecurity from his tenure at the National Security Council and Mastercard, will focus on addressing the increasing cyber threats faced by businesses today.

The addition of these two leaders is seen as a strategic move by Hilco Global to expand its services and address emerging risks for its clients. Jeffrey B. Hecktman, the founder and CEO of Hilco, expressed confidence in their expertise, noting that the expansion of advisory services is critical to helping clients navigate intricate challenges.

Hilco Global is renowned as a liquidator and has a track record of managing the assets of various troubled companies, including the redevelopment of diverse properties ranging from industrial sites to retail establishments. The company has a global presence, employing approximately 900 people across five continents.

The Bellwether District project, which encompasses 14 warehouses and other industrial buildings in South Philadelphia, is projected to create substantial employment opportunities, with estimates suggesting that over 10,000 jobs could be generated. This redevelopment initiative seeks to revitalize the waterfront areas that once housed major oil refineries, transitioning from a century-long industrial legacy to modern commercial use.

In 2020, Hilco acquired the distressed property for 2 million and initiated a comprehensive cleanup and redevelopment process following the site’s prior abandonment after a series of incidents, including a catastrophic explosion in 2019. The company’s vision includes attracting biotechnology firms, corporate headquarters, and data centers to meet the escalating demand for technological infrastructure.

As Hilco Global pushes forward with its ambitious Bellwether project, the engagement of experienced executives like Murphy and Niejelow highlights the company’s commitment to navigating the complexities of modern industry while contributing to the economic revitalization of the region.