Steve Coverick

Managing Director
Experienced advisor to companies and creditors in distressed situations and transactions
Advises on in- and out-of-court restructurings, operational turnarounds, asset sales, and debt refinancing
Experience with clients in diverse industries, including cryptocurrency, energy, TMT, logistics, and healthcare
Dallas
@alvarezmarsal
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Steve Coverick is a Managing Director with Alvarez & Marsal Restructuring & Turnaround in Dallas. 

With a background in financial and operational restructuring, Mr. Coverick is an experienced advisor to companies and creditors in distressed situations and transactions, including in- and out-of-court restructurings, operational turnarounds, asset sales, and debt refinancing. He has worked with public and private companies across a range of industries, including cryptocurrency, energy, technology, media and telecommunications (TMT), logistics, and healthcare.

Mr. Coverick currently serves as financial advisor to the FTX Recovery Trust (and previously FTX Trading Ltd during its Chapter 11 proceedings), where he leads a team of professionals focused on providing recovery to the victims of what the US Department of Justice called “one of the largest financial frauds in history.” His team’s work on FTX was awarded the Turnaround Management Association’s (TMA’s) 2025 “Mega Company Turnaround of the Year” and the American Bankruptcy Institute’s (ABI’s) 2025 “International Matter of the Year.”

Mr. Coverick’s notable clients include Seadrill Limited, iHeartMedia (TMA’s 2020 “Mega Company Transaction of the Year”), White Star Petroleum, Templar Energy, and Expro. He has also advised numerous confidential clients in successful out-of-court restructurings.

Prior to joining A&M, Mr. Coverick was a manager with EY’s Transaction Advisory Services practice in Chicago.

Mr. Coverick earned a bachelor’s degree from Indiana University’s Kelley School of Business. He previously served as president of the Kelley School of Business Alumni Association board of directors and was a member of the Kelley School of Business Dean’s Council. He is a qualified Chartered Financial Analyst (CFA) and Certified Turnaround Professional (CTP).

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Alvarez & Marsal has been recognized with the American Bankruptcy Institute’s International Matter of the Year Award for our work on the In re FTX Trading LTD cross-border insolvency case.
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