Paris – 12 February 2020 – Global professional services firm Alvarez & Marsal (‘A&M’), continues to expand its business in France with the creation of a Financial Restructuring capability spearheaded by a new Managing Director, Thomas Marcorelles.
Thomas Marcorelles earned a master’s degree in corporate finance from Neoma Business School in France. He is an expert in refinancing and financial restructuring processes. He has more than 15 years of experience in helping companies, investors and lenders facing stressed and distressed situations. Mr. Marcorelles is also an advisor in court processes (assisting corporates under receivership) and specialises in due diligence on distressed assets prior or through Court processes. Prior to joining A&M, Mr. Marcorelles spent ten years with EY’s Restructuring in Paris, where he most recently served as Partner. During his career, he has been involved in more than a hundred restructuring cases and some of the most significant operations in France over the last few years. Mr. Marcorelles is an active member of the Association pour le Retournement des Entreprises (ARE), the restructuring practitioners’ primary professional association in France.
By launching a Financial Restructuring capability into France, A&M intends to develop a fully integrated approach covering the key aspects of a restructuring process (Operational and Financial reviews). Future plans include expanding the Financial Restructuring offering into other major countries across Europe where the firm already has a presence in the coming months.
A&M has been experiencing exponential growth in France. The firm has almost tripled its workforce in less than two years, from around 30 employees in 2018 to 85 on January 1, 2020 and has grown to over 1,000 people across Europe this year. A&M’s office in Paris now offers a multidisciplinary range of capabilities with transaction advisory services, valuation services, private equity services, corporate transformation and financial and operational restructuring to reflect the needs of a very active French market seeking independent, straightforward advice and practical solutions which are free from conflict.
Antonio "Tony" Alvarez lll, Managing Director and A&M’s European Practice lead commented: "The creation of the Financial Restructuring practice in our Paris office reinforces our ambition to expand our activity and develop our expertise within the French market in order to provide our clients with an ever more comprehensive and differentiated advisory support. Whilst this area of the market has typically been dominated by the Big 4 accounting firms we have seen a demand for an independent and conflict-free alternative in France as in other countries across Europe. There is no doubt that Thomas' experience and skills make him a Managing Director capable of leading the development of this new expertise within our French business.”
Paul Kirkbright, Head of EMEA Financial Restructuring Advisory at A&M said: "When we launched Financial Restructuring at A&M in the U.K. in 2017 our plan was always to build this into a market-leading service to lenders and borrowers across EMEA. We are proud today to accelerate its development into Continental Europe, starting with the first stage in the very important French market. We are also very pleased to be able to build on the reputation of the existing French team as recognised experts in the consultancy market to offer a broader, independent, multi-disciplinary service for both local French and cross-border projects. By the end of this year, our ambition is to have high-quality practitioners, like Thomas, operating out of all major European countries as part of a fully integrated financial restructuring team."
Thomas Marcorelles, Managing Director at A&M, said: "I am very excited to be given the opportunity to build A&M's Financial Restructuring business in France. The complementary nature of the services offered by A&M and the links between the different capability teams are invaluable in providing relevant, comprehensive and cross-functional advice to our clients.”
Ellen Johnson, Headland, +44 (0)20 3435 7476
Miriam Jones, Senior Marketing Manager, Alvarez & Marsal, +44 (0)20 7715 5202