Alvarez & Marsal at a Glance


  • "Being surrounded by brilliant colleagues who collaborate and work well as team members."
  • "Culture, challenging projects, and tons of training opportunities."
  • "Opportunity that has come with growth."
  • "Very cool work"


  • "Economic rewards drive behaviors, always"
  • "Lack of visibility in the marketplace."
  • "Long hours."
  • "Time demands, compensation pressure."

The Buzz

  • "Has a strong name in M&A work."
  • "If you have a bankruptcy problem, these are your guys."
  • "Presents many different services.  Restructuring team is one of the strongest in the industry."

About Alvarez & Marsal

Innovative by nature, Alvarez & Marsal has the expertise to work with established players, start-ups and everything in between.  A&M is a global professional services firm that makes transformation happen.  It helps companies and investors drive performance by listening, collaborating and taking action. 

The firm's primary global service lines of corporate performance improvement, private equity services, restructuring & turnaround, tax, disputes and investigations, valuation and regulatory & risk advisory are fueled by its leaders' extensive C-suite experience, business know how and roll-up-your sleeves attitude.   

The company serves clients across a range of industries, including energy, retail, financial services, health care, public & social sector and real estate. 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 globally. 

The firm has 50 offices in 29 countries in North America, Europe, Asia, Latin America and the Middle East.  Action-oriented people with a passion for tackling challenges will find themselves at home at A&M.

A&M is a private company that thinks of itself as a "home grown" family with strong ties to firm alumni around the world. 

A&M Digs In and Gets the Job Done

When Tony Alvarez II and Bryan Marsal joined forces in 1983, it was with the intent of seamlessly linking operations, performance improvement and value creation to best help companies turn areas of stagnation into growth to achieve sustainable results. 

This ethos remains at the core of the firm. The firm is known for asking tough questions, listening well, digging in and getting its hands dirty. As a result, it provides global leadership, problem solving and value creation for companies across industries and around the world. Its consultants work as advisers, interim leaders and partners who, according to the firm, "tell clients what they need to know, not always what they want to hear."

Operational Expertise + Performance Improvement Savvy 

Alvarez & Marsal built its reputation as a restructuring and turnaround specialist leading high profile engagements including 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.  

A&M's hands-on operations experience and commitment to value creation has transformed the firm into a power house that helps healthy corporates address the challenges inherent in every economic cycle

For example, when the United States Postal Service (USPS) needed to respond to the Postal Accountability and Enhancement Act (PAEA), as required by the U.S. Congress, they hired A&M to determine if operational efficiencies could be made to improve USPS's financial situation within its current legislative and regulatory constraints. 

In assessing the world's largest provider of post and shipping services, serving over 155 million delivery points 6 days a week through a network of 400 processing centers and over 32,000 post offices supported by a workforce of 625,000, A&M leveraged the firm's commercial and public sector operational expertise and its in-depth supply chain and logistics knowledge. The firm's collective thinking created a pathway for USPS to realize a combined $2.6 billion in average annual savings, including over $900 million in average annual savings available under current legal, regulatory, and labor constraints. 

A&M's operational expertise and value creation know-how is defining a new breed of consulting firm. Clients across a myriad of industries and geographies appreciate that A&M never accepts the status quo, always drives action not fancy reports and thinks about tomorrow today. 


June 2017

Firm opens Stockholm office responding to pan-European regulatory changes driving market demand

Alvarez & Marsal (A&M) announced the opening of a Stockholm office aligned with its global expansion strategy and in response to market demand for an independent professional services firm to meet recent pan-European regulatory requirements. Recognized transaction advisory and operations professionals Christer WibergTaus Wolfsberg and  Christer Johansson join A&M's Stockholm office as Managing Directors, with Mr. Wiberg serving as Country Leader and Transaction Advisory Leader of A&M's Nordic operations.

The appointments of Messrs. Wiberg, Wolfsberg and Johansson, all formerly partners at KPMG, augment A&M's comprehensive offerings through reinforcing its operational heritage, fortifying its connectivity across Europe and growing the Nordic region

May 2017

New Report Outlines Factors for Success, Risks and Prospects Over Next Decade

The report argues that despite the aging U.S. population, post-acute care facilities face an increasingly challenging, competitive landscape because of the IMPACT Act of 2014, the Comprehensive Care Joint Replacement (CJR) model and other payment reform initiatives; increasing Medicare Advantage plan penetration; and the growing consolidation of health systems, hospitals and physician practices. It outlines critical factors for success, identifies risks and analyzes prospects for specific post-acute care sites, including skilled nursing facilities, home care, long-term acute care hospitals, hospice, inpatient rehabilitation facilities and senior housing.

The critical success factors identified in the report include scale; efficiency; quality; data-driven analytics and risk management; business intelligence; integrated continuum of post-acute care offerings; patient and caregiver engagement (self-management); and management acumen. The analysis demonstrates that longer term investment opportunities are best for home care and worst for long-term acute care hospitals, with selective opportunities on the horizon for inpatient rehabilitation facilities, hospice and skilled nursing facilities.

Click here to access the report.

April 2017 

UAE Banking Market Pulse Q4 2016

Alvarez & Marsal Middle East Limited (A&M) launched the inaugural edition of the UAE Banking Market Pulse.

The firm shared results from its research examining the 10 largest listed UAE banks and highlights key performance indicators of the UAE banking industry.

Key trends over the last quarter include:

  • Deposits grew by 2.2% quarter over quarter (QoQ) while loans remained flat (QoQ), resulting in the loan-to-deposit ratio (LDR) decreasing from 93.6% to 91.5%.

  • Income margins declined by 11 basis points (bps) from 3.83% in Q3 '16 to 3.72% in Q4 '16, while net interest margins (NIMs) declined by 7 bps over the same period, driven by a reduction in LDR rather than impact of cost of funds (CoF) and yield on credit (YoC).

  • Cost-to-income (C/I) ratio for the top 10 banks increased slightly from 33.4% in Q3 '16 to 33.7% in Q4 '16, but C/I remained below its Q4 '15 level of 33.9%.

  • Coverage ratio continued to increase in Q4 '16 with loan loss reserves standing at 117% of non-performing loans (NPLs) compared to 114% in Q3 '16 and 109% in Q4 '15.

  • Cost of risk flattened in Q4 '16 at 1.00% and remained higher than its Q4 '15 level of 0.88%.

  • Return on equity (RoE) decreased from 15.1% to 14.8% last quarter, significantly below the Q4 '15 level of 17.0%. 

March 2017

The addition of restructuring and performance improvement specialists augments the firm's capabilities, expertise and lines of service

Alvarez & Marsal (A&M) responded to the tighter regulatory and audit rotation requirements that are challenging the traditional accountancy and consulting firms, and the growing demand for its offerings across Europe by bolstering its European Restructuring practice and suite of corporate transformation and performance improvement services.

Former KPMG restructuring specialists Richard FlemingMark Firmin and Chris Johnston joined A& as Managing Directors to lead the firm's new Creditor Advisory and Insolvency teams,and  Roger Bayly joined to co-head Corporate Performance Improvement.  In addition, the firm announced that Ben Tatham and Paul Kirkbright - who are also former KPMG partners -would be joining A&M as Managing Directors in April and June, respectively with Mr. Kirkbright as head of the Creditor Advisory team. 

December 2016

Alvarez & Marsal names Jonathan Hickman co-head of North American Restructuring Practice's southern region

Alvarez & Marsal announced the promotion of Managing Director  Jonathan Hickman to the role of Co-Head of the Southern Region for its North American Restructuring division. He will lead the region along with Managing Director Brian Cejka.

Mr. Hickman specializes in advising companies and lenders in both distressed and non-distressed situations. With more than 20 years of management and corporate restructuring experience, he has advised numerous clients in both financial advisory and interim management roles, including acting as Chief Executive Officer (CEO), Chief Restructuring Officer (CRO) and Chief Operating Officer (COO).

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Alvarez & Marsal

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


  • Employer Type: Private
  • Co-CEO: Antonio Alvarez II
  • Co-CEO: Bryan Marsal
  • 2017 Employees: 2,984

  • Major Departments & Practices
    Corporate Performance Improvement
    Private Equity Services
    Restructuring & Turnaround
    Disputes and Investigations
    Regulatory & Risk Advisory
    Aerospace & Defense
    Business Services
    Consumer Products
    Financial Services
    Public & Social Sector
    Real Estate
    Telecommunications, Media & Technology
    Transportation & Logistics

Major Office Locations

  • New York, NY (Global HQ)
    London (Europe HQ)
    São Paulo (Latin America HQ)
    Hong Kong (Asia HQ)
    Dubai (Middle East HQ)
    Mumbai (India HQ)
    45 offices in 18 countries worldwide