• Sector experts Claudia Lotti and Francesco Leone join as Managing Directors to co-lead A&M’s Financial and Operational Restructuring team in Milan

Milan, 19th June 2026 – Global professional services firm Alvarez & Marsal (A&M) has expanded its Financial and Operational Turnaround and Transformation expertise (F&OR business unit) in Italy, with the appointments of Managing Directors Claudia Lotti and Francesco Leone as Co-Heads of the local practice.

Both experts specialise in operational and financial turnaround, crisis management, interim roles, stakeholder management, and liquidity management for large corporates, mid-market firms, financial shareholders and private equity firms. They lead the design and execution of large turnaround, cost rationalisation, organisation optimisation, liquidity management, and cash-flow improvement programmes to support clients across sectors facing complex situations.

Francesco Leone brings more than 30 years’ experience of advisory and interim roles in operational turnaround, strategic planning, and performance improvement. Prior to joining A&M, Mr Leone served as Italy Country Head for FTI Consulting’s Corporate Finance & Restructuring team. Previously, he was a Managing Director and Partner at Boston Consulting Group’s (BCG) Milan office and Head of the BCG TURN practice for Italy, Greece, Turkey, and Israel. Before that he was a Managing Director at AlixPartners in Italy.  Notable past engagements include:

• serving as Chief Restructuring Officer (CRO) in the restructuring process for a leading integrated player in the paper industry;
• designing and executing the turnaround programme for the powertrain division of a global automotive Tier 1 supplier;
• Leading the full-potential transformation plan, preparation and execution for a leading manufacturer of luxury yachts, including end-to-end IPO process support;
• acting as CRO and board member in the operational turnaround of a leading Italian apparel company; and
• leading the turnaround plan preparation for a global luxury sailboat manufacturer.

Claudia Lotti also joins A&M from FTI Consulting, where as Senior Managing Director she opened the Milan office of the Corporate Finance & Restructuring practice. Before that, she was part of the Turnaround practice at Boston Consulting Group in Milan and the Turnaround & Restructuring practice at AlixPartners in Milan and London. With more than 25 years of advisory and interim managerial experience – mainly within the finance function – Ms. Lotti’s notable engagements include:

• supporting a major global aviation group in a capital structure optimisation process after the pandemic;
• Driving the financial and operational turnaround of major construction groups in Italy;
• serving as Chief Transformation Officer for a luxury Italian company facing operational restructuring;
• acting as General Manager for an Italian group operating in underwear in the operational turnaround and redundancy program design and implementation; and 
• acting as Finance Director for a global steel rope manufacturer.

The senior hires continue the growth of A&M’s F&OR team across Europe in recent years – including in Portugal, France and Spain. They also represent A&M’s latest strategic investment in Italy, following the launch in Milan of the firm’s Corporate Finance practice last year.

Roger Bayly, Managing Director and Co-Head of A&M’s F&OR practice in Europe, said: ‘We want to make A&M the go-to partner of corporate and financial sponsors facing complex situations in Italy. With their blend of consulting and managerial expertise honed across sectors, Claudia and Francesco will support businesses at the most critical moments to drive operational improvements and recovery plans.’

Richard Fleming, Managing Director and A&M’s Head of European Restructuring, added: ‘Our Financial & Operational Restructuring team has enjoyed a successful growth trajectory across Europe in recent years. We’re delighted to have Claudia and Francesco join the team as they expand our ability to support alternative capital providers and corporates.’

-ENDS-

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 world-wide 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.

To learn more, visit: AlvarezandMarsal.com.