Alvarez & Marsal

Alvarez & Marsal Company Profile

THE SCOOP 

Improving performance

Founded in 1983, Alvarez & Marsal is a global professional services firm with one overriding specialty: helping companies and investors take action for change and drive performance when traditional approaches to solving business problems are insufficient. 

To do that, the firm offers several main global service lines: performance improvement, corporate restructuring and business advisory services, tax advisory, global forensics and disputes, and private equity life cycle services. 

While the firm is perhaps best known for its work turning around troubled companies, the lessons gleaned from those experiences mean that A&M also has strong capabilities when it comes to advising leaders of healthy companies on how to improve operations and financial performance. Indeed, in describing its capabilities, the company states that, "there are more similarities than differences in managing troubled companies and managing for growth. We get to the heart of client challenges quickly and take a hands-on approach to complex business problem solving." That outlook-together with the firm's broad array of capabilities-means A&M will thrive in almost any economic climate. 

The company serves clients across a range of industries, including financial services, energy, retail, insurance, automotive and suppliers, consumer packaged goods, healthcare, high tech, manufacturing, media and entertainment, private equity, public sector, real estate, and transportation and infrastructure. Its client list includes AmLaw 100 law firms and Fortune Global 500 (and half of the Fortune 100) companies, numerous private equity firms as well as several banks and financial institutions, both in the U.S. and abroad. The firm has 44 offices in 18 countries in North America, Europe, Asia and Latin America.

 

From one shop to one-stop-shop

When founders Tony Alvarez II and Bryan Marsal hung their shingle in New York in 1983, they did so as a firm with one core competency: restructuring. For the next 15 years, the firm gradually built a reputation in its local market as the go-to outfit for troubled companies-a reputation that led to the decision to expand the business, first nationally, in 1999, and then internationally with the launch of a European practice in 2001. 

Having steered its earliest clients through the fallout from the LBO oil patch era to the tech bust and the accounting scandals of the early years of the decade, A&M's next move was to help them navigate through the raft of new regulations that emerged because of those scandals. Accordingly, with clients struggling to come to terms with the details of the Sarbanes-Oxley regulations, in 2004 the firm branched into performance improvement and business advisory, before adding transaction advisory and private equity services the following year.

 

Cometh the hour…

If the implosion of the financial markets in 2008 can be called a disaster, Alvarez & Marsal's role was akin to that of first responder: in advance of the credit crunch, the firm created a dedicated Financial Industry Advisory Services unit. Featuring a blend of consultants and banking industry operators on both sides of the pond, the unit was created to offer clients in the financial services industry counsel from former bankers and bank regulators, turnaround managers, real estate advisers, forensic accountants and IT strategists, among others. 

Underlining its reputation as a restructuring and turnaround specialist, meanwhile, A&M was selected to lead the global wind-down of Lehman Brothers following its declaration of bankruptcy-the largest (and likely the most complicated) wind-down in U.S. history. The Lehman project alone took four years; the bank began the process of repaying creditors in 2012 when it emerged from bankruptcy protection. Additionally, the firm also led the liquidation of WaMu and other major banking institutions in the aftermath of the credit crisis, and is active in countries and financial institutions across the Eurozone and North America, preparing for Dodd Frank and Basel III implementation, including new capital, business model, operational and risk/regulatory and asset management requirements.

 

Principles of management

In recent years, Alvarez & Marsal's star has been rising in industry sectors where activist operational support and leadership, culled from the firm's distinctive restructuring heritage and relentless focus on execution and results, have been most needed. Accordingly, A&M is well positioned to define a new breed of consulting firm among healthy corporates addressing the trials and tribulations inherent in every economic cycle.

Regardless of where a firm falls on the scale from "troubled" to "healthy", A&M believes that its principles for management can be applied to help it improve its performance and unlock value. Those principles include: minimizing bureaucracy but maintaining strong process management; challenging assumptions and traditional interests; remaining fact-based and objective when seeking reasons for underlying issues; rooting out under-performance; clarifying responsibility, authority and leadership over key initiatives; a belief that culture is a covenant that leaders build and maintain with their people that should not be squandered; and always keeping a watchful eye on liquidity and working capital management.

 

IN THE NEWS 

June 2014

New global head of Asset Management Services

As reported by The Deal, A&M appointed a global head of the newly created Alvarez & Marsal Asset Management Services LLC. The newly formed business assists clients in preserving, enhancing and marketing asset classes including loan portfolios, real estate and investments, among others. The creation of the unit "fills a growing need in the marketplace created by the rapidly changing global financial and regulatory landscapes," said Alvarez & Marsal co-CEO Bryan Marsal.

 

December 2013

International moves

As reported by Reuters "Moves" on December 18, the firm expanded further in Europe and Asia, with the hiring of new country head in, Greece and the opening of a Seoul office in November. The Korea Times reported on the latter on on Nov. 6, 2013, noting that "the company decided to enter the Korean market because they see a clear demand for the type of services they provide."

 

November 2013

Taking home the awards

The firm was recognized by Turnarounds & Workouts as the "Outstanding Turnaround Firm" in November 2013. As reported by ABF Journal, "A&M and its professionals received recognition for many outstanding revitalization efforts. They are: Lehman Brothers Holdings, Arcapita Bank, Central Bank of Cyprus, Central European Distribution, Fund for Orderly Bank Restructuring/SAREB, Gigaset AG, Hawker Beechcraft and New TT Hellenic Postbank." 

In addition, the firm was also recognized on the Houston Chronicle's Best Places to Work in Houston list. A&M was named "No. 2 midsize company" to work for, an accolade awarded in part for its ability to "create a workplace that encourages such displays of open communication by hiring the right people." 

Not only did A&M clean up at the 2013 TMA Turnaround and Transaction of the Year Awards (garnering three of 11 awards), but its own Bettina Whyte was one of three women inducted into TMA's Hall of Fame. Ms. Whyte was profiled in the article "Turnaround Titans" published by Dow Jones Daily Bankruptcy Review on Oct. 3, 2013. 

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Alvarez & Marsal


600 Madison Avenue
8th Floor
New York, NY 10022
Phone: (212) 759-4433
Fax: (212) 759-5532
www.alvarezandmarsal.com

STATS


  • Employer Type: Private
  • Co-CEO: Antonio C. Alvarez II
  • Co-CEO: Bryan P. Marsal
  • 2014 Employees: 2,500

  • Employment Contact

    Visit A&M's careers page


  • Major Departments & Practices

    Global Capabilities

    Turnaround and Restructuring Advisory

    -Interim and Crisis Management

     

    Operational/Financial Performance Improvement

    -Technology/CIO Solutions

    -Supply Chain Management

    -Procurement Process and Leveraged Sourcing

    -Business Model Transformation

     

    Business Advisory Services

    -Corporate Governance

    -Executive Benefits Consulting

    -Global Forensic and Dispute Services

    -Tax Advisory Services

    -Transaction Advisory

    -Valuation Services

    -Risk Management

     

    Industry Expertise

    Automotive and Suppliers

    Consumer Packaged Goods

    Energy

    Financial Services

    Healthcare

    High Tech

    Insurance

    Manufacturing

    Media and Entertainment

    Private Equity

    Public Sector

    Real Estate

    Retail

    Transportation and Infrastructure

Major Office Locations

  • New York, NY (Global HQ)
  • London (Europe HQ)
  • São Paulo (Latin America (HQ)
  • Hong Kong (Asia HQ)
  • 44 offices in 18 countries worldwide

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