SYDNEY, 14 May 2025 – Leading global professional services firm Alvarez & Marsal (A&M) has announced the appointment of seasoned restructuring professionals Jason Tracy and Glen Kanevsky as Managing Directors within its Australian Restructuring & Turnaround practice as part of A&M’s continued local growth in response to the evolving needs of corporates, boards, lenders, and private equity firms.

Mr. Tracy and Mr. Kanevsky bring a wealth of insight and experience, having advised on some of Australia’s most complex restructurings over the past two decades across a broad range of sectors, including retail, healthcare, manufacturing and construction. Their arrival strengthens A&M’s ability to support clients navigating liquidity constraints, operational inefficiencies, and strategic transformations amid an increasingly volatile economic environment resulting in a sharp increase in insolvency activity across the country.

The appointments follow the 2024 findings from A&M and Turnaround Management Association (TMA)’s 2024 survey which revealed that more than half (53%) of restructuring experts expected Australia to fall deeper into recession in the 12–24 months post-survey. ASIC data further underscores the trend, with nearly 26,000 businesses having entered insolvency since 2022 — including a 47% year-on-year increase in filings.

About the Appointees

Jason Tracy brings more than 25 years of restructuring experience, working with lenders, corporates, and private equity clients on financial turnarounds, strategic reviews, and formal insolvency engagements. Known for his pragmatic and hands-on approach, Mr. Tracy has advised across a broad range of sectors including retail, construction, manufacturing, and healthcare.

Glen Kanevsky offers over two decades of experience in corporate restructuring and insolvency. He has led major corporate turnaround projects across Australia, specializing in business reviews, refinancing strategies, and stakeholder negotiations. Mr. Kanevsky is recognized for his deep technical expertise and strategic mindset in navigating distressed scenarios.

Managing Director and Country Leader for Performance Improvement in Australia, Mr. Igor Sadimenko, said, “With economic indicators shaky, the demand for restructuring expertise has never been greater. Jason and Glen bring decades of experience, market credibility, and the kind of action-oriented mindset that defines A&M. Their addition ensures we’re even better positioned to help clients preserve value, stabilise operations, and navigate uncertainty.”

Since opening offices in Australia in 2022, Alvarez & Marsal has grown to more than 350, including a deep bench of Managing Directors across service lines. The firm’s Restructuring & Turnaround practice continues to serve as a trusted partner to corporates, boards, lenders, and private equity firms seeking to address complexity and deliver meaningful results.

About Alvarez & Marsal

Founded in 1983, Alvarez & Marsal is a leading global professional services firm. Renowned for its leadership, action, and results, Alvarez & Marsal provides advisory, business performance improvement, and turnaround management services, delivering practical solutions to address clients' unique challenges. With a worldwide network of experienced operators, world-class consultants, former regulators, and industry authorities, Alvarez & Marsal helps corporates, boards, private equity firms, law firms, and government agencies drive transformation, mitigate risk, and unlock value at every stage of growth.