Antonio Alvarez III ("Tony III")
Managing Director
Quick facts
Launched A&M into Europe
Introduced the Chief Restructuring Officer (CRO) concept in Europe
Pioneered the concept of applying turnaround skills / execution capabilities into non-troubled situations to unlock operating value
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+44 207 715 5200
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Execution eats strategy for breakfast every day of the week!
Antonio Alvarez III, a Managing Director with Alvarez & Marsal, has built and led the A&M Europe practice since 2001. Mr. Alvarez has played an integral role in several high profile turnarounds and performance improvement projects over the last decade, and brings more than 25 years of experience serving public and privately owned companies.

He has led several complex Pan-European engagements, and has worked in every major country in Europe, including the UK, Germany, France, Italy, Spain, Netherlands, Luxemburg, Switzerland, Finland, Norway, Sweden, Estonia, and Romania.

Since transferring to Europe, Mr. Alvarez has also acted as team leader on several international advisory and operating improvement mandates with a number of high profile multinationals, including a Fortune 250 international corporate real estate company, a leading global retail apparel company (over 3,000 stores in over 20 countries), the leading independent multiplatform entertainment Endemol Shine Group in connection with its merger and integration, Abengoa Group (23,000 employees and over 20 billion in debt) in connection with its viability, Edcon Group (second largest non-food retailer in Africa with over 20,000 employees and 29 billion ZAR in debt) in connection with its turnaround, Hagemeyer NV (23,000 employees in 35 countries) in connection with its rescue rights offering, Dresser-Rand Group (over 15 countries) in connection with its spin-off, and the DBA Apparel Group (collection of 17 brands based in France) and Bally of Switzerland (designer shoe / apparel) which were both mid-sized private equity funded businesses.  On these assignments, Mr. Alvarez provided leadership and strategic focus, as well as execution support, to realise sales improvements, gross margin improvements, greater productivity efficiencies overseeing plant closures and consolidations as well as throughput manufacturing improvements, improved operational control and predictability of results, staff reductions including back office shared services models, capital expenditure reviews, cash management, improved financial reporting and right-sizing the capital structure to meet business mid-term needs.  Mr. Alvarez has also been directly involved or acted as senior advisor to engagement team leaders related to sovereign and / or financial institution strategic performance improvement / restructuring including Ireland (NAMA), Iceland (Kaupthing Bank), Greece (Agricultural Bank, Postal Bank and the Consignment Bank) and Philippines (Philippine Airlines).

Mr. Alvarez has previously acted in the following executive roles for European clients: Chief Restructuring Officer and Director or Edcon Group, Chief Restructuring Officer of Abengoa Group, Chief Restructuring Officer and Director of a major specialty Chemical Manufacturer in Switzerland, a leading international specialty chemicals manufacturer based in Switzerland with operations in 35 countries; European Restructuring Officer of Bridge Information Systems Europe, comprised of 40 operating entities located in 18 countries; Director of Concordia Bus AB and Concordia Bus Nordic AB; Director of Visiocorp Plc , Director of TMD Friction Group, Chairman of the Supervisory Board of Treofan GmbH; Chairman of Galvex Holdings Ltd. (Bermuda) and is currently the Chairman of the Alma Group based in France.

Prior to coming to Europe, Mr. Alvarez served as Chairman and CEO of Long Manufacturing Inc. and as President of Beaver Creek Holdings, LLC.  Long’s principal suppliers and substantial stakeholders were UTB of Romania and Escorts of India.  He also spearheaded the restructuring of Harvest Foods, Inc., a regional supermarket chain in the mid-1990s. 

Prior to that he assisted a number or retail apparel businesses through their crisis:  The Gitano Group (jeans & sportswear wholesaler and speciality retailer), The London Fog Group (overcoats & apparel wholesaler and speciality retailer), Pacific Trail (outerwear & lifestyle brand).

Mr. Alvarez received a bachelor's degree from the University of Notre Dame and a master's degree in business administration from Cornell University. He also attended the Université Catholique de L'Ouest in France as an undergraduate student, and the Université de Louvain-La-Neuve in Belgium as a graduate student. Mr. Alvarez is fluent in French and English and basic knowledge of Spanish and Italian.