An Inside Look at a Director’s Journey and the Importance of Meaningful Work, Company Culture and Mentorship

Carlos Rodriguez is a Director with Alvarez & Marsal’s (A&M) North American Restructuring & Turnaround (NACR) practice in Los Angeles, California. He earned a bachelor’s degree from Georgetown University.

In the Q&A below, Carlos discusses his career journey in consulting, initially motivated by the excitement of travel but evolving to appreciate the meaningful connections and relationship building forged in challenging environments. He recounts returning to a significant client project that held personal and professional history for him, rekindling connections with colleagues turned lifelong friends. He emphasizes A&M's enduring qualities, such as employee investment and commitment to excellence, and highlights his diverse experiences living in various locations across the country.

What inspired you to start a career in consulting, and how has that motivation evolved?

I started my career in consulting because I thought the work and the travel would be exciting given that I wouldn’t be in the same place in the same office every day. The motivation evolved over time as I realized that I enjoyed the results that came from the job. Namely, forging long-term relationships that come from working in challenging environments with tight deadlines on meaningful deals. I’ve worked outside of consulting as well and the relationships you develop while working on deals—either at dinners or late nights in conference rooms—are special.

You've had a diverse and impressive career journey, from private equity advisory to your current role as a Director for the North American Restructuring & Turnaround practice. Can you share a memorable experience or project that significantly shaped your career path?

I'm currently working with a client that filed for bankruptcy earlier this summer. It's a company I previously worked with during my initial tenure at the firm, spanning over three years. Returning to this company has been a unique experience, as it holds significant personal and professional history for me. I forged lasting friendships during my involvement with this project, and I've maintained connections with several colleagues from A&M who were part of the team.

One individual worth mentioning is David Blanks, a Senior Director on the North American Restructuring & Turnaround team, who I still consider a close friend. He played a pivotal role in my decision to rejoin the firm at the end of last year. Another instrumental figure from that project was Jamie Pierson, the Managing Director (MD) at that time, who served as a mentor to me and was someone I communicated with regularly throughout the year. Additionally, my friendship with Paul Forgue, a former Senior Director with NACR on that project, remains strong. In fact, Paul recently engaged NACR for assistance with a project at his current company this year.

While the client project presented formidable challenges, it marked a significant milestone in my professional journey. It instilled in me the confidence to embark on my independent practice for several years before returning to the firm.

Why did you return to A&M in January 2023, and what attracted you to the company culture and opportunities?

It was an incredibly difficult decision to leave A&M when I did. However, it was a decision that was right for me and my family at that point in my life. My wife and I had just welcomed our second child into the world, and I couldn’t leave her with a four-year-old and newborn from Monday through Thursday every week. I really enjoyed the work I was doing at A&M and felt incredibly lucky to be working with a firm that invested so much in its employees; however, it was the right decision for me at the time. 

Ten years later, I was in Dallas at the end of 2022 and got a client team together for a happy hour.  David Blanks, who I mentioned above, told me that the firm was not traveling the way it was in the past after Covid-19 and that there had been some cultural changes from that perspective. He asked if I was interested in coming back and I told him I would think about it. About one month later, I got a call from another consulting firm asking me if I would consider joining.  I talked to my wife about it, and she said I should call A&M first since I knew the firm and some of the leadership team within NACR. My first outreach was to Steve Wallace and the rest fell into place quickly from there. 

While some things are different from my first time with the firm, the qualities that I found so impressive about A&M remain: investing in employees unlike any other group I have seen, incredible talent, working on deals that are really interesting and a commitment to providing clients the best possible results.   

The Importance of Mentorship in Professional Development

Who at A&M has been your most influential mentor, and what have you learned from them?

This is a tough question. I’ve learned a lot from different people I have interacted with in the firm over the years. I mentioned Jamie Pierson, a former MD, as someone I stay in contact with. I’ve also learned a lot watching Jeff Stegenga from a distance, particularly how he cultivates relationships. That was incredibly influential for me in giving me the confidence to sell deals when I was out on my own. Additionally, Brian Whittman has been very helpful in guiding my journey back into the restructuring world. I’ve learned a lot watching him manage different constituencies on deals—from the internal A&M deal team to investment bankers, lawyers and Unsecured Creditor Committee (UCC) advisors. He’s great at it. Finally, Steve Wallace has always been someone who I think espouses what the firm is all about. He’s smart and committed to helping the firm and its employees succeed. Most of all, he’s a straight shooter. I’ve always respected the way he approaches things within the firm and was someone I kept in touch with periodically in the 10 years I was away from the firm because I have a lot of respect for him. 

What did you learn while away from the firm, and how will you apply those lessons here?

I learned that my experience with A&M was incredibly valuable outside of the firm. There are a lot of companies and groups out there that really like the work product that someone who has the A&M pedigree can bring. Attention to detail, responsiveness and communication are high-demand skills embedded into you at A&M and, when you are in the trenches of a deal as a young professional, you may not understand why. As soon as you start competing with others who don’t have that same background, it becomes incredibly evident to people with whom you interact.

While I was away, I spent a lot of time developing relationships with private equity funds, selling project work and delivering what I think were positive results. I plan on continuing to cultivate those relationships now that I am back with A&M and hopefully turn them into meaningful work for NACR, the Private Equity Performance Improvement (PEPI) group or other groups within the firm.  

Your experience spans various locations, from Dallas to San Diego and now in Greater Los Angeles. How have these different locations influenced your professional growth and the way you approach your work?

I feel very lucky to have lived all over the country. I grew up in South Texas, went to school in DC, lived in Chicago and then spent time in California, Dallas and now back to California. As a result, I’ve made great friends both personally and professionally around the country.  Each location was special and looking back I feel like I learned a lot in each location. However, after having kids, my wife and I really wanted to raise them at the beach and help them develop the same love for the ocean that we both have. That said, being in California and working with A&M is an incredible opportunity and I hope to make the most of it. There is an atmosphere in California that work is important, but it’s not everything. You have an opportunity to get outside all the time here, which recharges my batteries and makes getting after it on Monday morning a lot easier. 

How to Cultivate Relationship Building in Consulting

How do you build and maintain professional relationships, and how does this contribute to your success?

I enjoy talking to people. I enjoy asking people about what they do outside of the office and what they like. I am genuinely interested in what food they love; what restaurants they think I have to go to—almost everything else other than business. I want to work with people who I like and with whom I connect. Learning more about who they are outside of what projects they have worked on helps me connect and creates a stronger bond that naturally develops into meaningful professional relationships. 

What advice would you give to professionals considering returning to A&M or rejoining a former employer?

I would ask them why they left in the first place. Was it the work? The culture? Something else?  If it was something else, and those circumstances have changed for the better—for example, in my case, my kids are much older now and self-sufficient—then, they should examine it. If it’s just compensation, that won’t be enough to keep you engaged for a long period of time. If you like the work and respect the people you will be surrounded by, it will be a great transition. 

What are your favorite hobbies and passions outside of work?

I love surfing. I surf as much as possible in the mornings before my family gets up and work begins. I also really enjoy Brazilian Jiu-Jitsu. I’ve been training for about seven years now and love it. It’s an amazing workout and incredibly engaging both physically and mentally. However, my favorite thing to do is watch my kids play sports and watch movies with my son and daughter individually. There are lists of movies I’ve started to make that I want to make sure each has watched before they leave for college in the future.  

Can you share a fun or interesting fact about yourself that your colleagues might not know?

After I left A&M and was working on my own practice, I was pretty busy for four years or so. My wife and I decided to move back to California but decided to go the long way from Texas to California. We sold our house, put our stuff in storage, sent our cat “Taco” to my parent’s house and went around the world for a year. Other than making the decision to ask my wife to marry me, it was the best decision I’ve ever made. We had a blast, saw some amazing places, met so many interesting people but most importantly, I got to spend 365 days in a row with my family. I had never done it before that trip, and I’ll never do it again because life gets in the way, but for those 12 months I did, and I’ll never forget it.