Douglas Lambert
Managing Director
Quick facts
35+ years of experience focused on financial and operational performance improvement and restructuring
Has held CRO, CEO and CFO roles in financial services and other industries
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Douglas Lambert, a Managing Director with Alvarez & Marsal, brings 30 years of diverse financial and operational restructuring experience. His primary areas of expertise include the formulation and implementation of restructuring and operational improvement plans for underperforming businesses, and managing companies and their creditor constituents through the restructuring process.

He has led financial and operational management teams across a broad spectrum of industries, including financial services, aviation, healthcare, manufacturing and consumer products. He has advised boards of directors and creditor groups in various capacities ranging from financial advisor to interim CRO, CEO and CFO. 

Mr. Lambert currently serves as CEO of Legacy Asset Management Company ("LAMCO"), a wholly owned subsidiary of Lehman Brothers Holdings, Inc. ("Lehman"). Post-petition, Lehman established a premier international workforce of approximately 450 financial professionals organized along five principle asset classes - commercial real estate, residential mortgages, private equity and principal investments, corporate loans and derivatives and designed a fully scalable front-to-back technology platform to effectively manage and wind-down Lehman's remaining long-term distressed and illiquid assets. He also has direct responsibility for managing all of Lehman's commercial and thrift banking operations, including Lehman's Aurora Mortgage Servicing platform. Further, he has led all post-petition negotiations with federal banking regulators pertaining to various complex regulatory and bankruptcy matters.

Mr. Lambert's other recent assignments include serving as pre- and post-Katrina interim CFO for the New Orleans Public School System, where he led the operational and financial restructuring efforts; HealthSouth Corp., the largest healthcare fraud in U.S. history, where he successfully directed and managed a team of 350 professionals responsible for completing the company's post-fraud financial restatement and audit; and serving as interim CFO for the successful out-of-court debt restructuring and corporate reorganization of Oreck Corp.

Prior to joining A&M, Mr. Lambert was a Senior Vice President for Wexford Capital LLC, where he focused on distressed debt and special situation private equity investing. He has participated in numerous interim financial and operational management roles resulting in the successful restructuring and disposition of various distressed companies. He has directed pre- and post-reorganization management teams and has served as CRO and interim CFO during several financial transitions. He also served as President and CEO of the post-reorganized Integrated Resources Equipment Leasing division, where he successfully managed the liquidation of a multi-billion dollar equipment portfolio. Mr. Lambert began his career in the accounting and auditing services group of a Big Five accounting firm.

Mr. Lambert earned a bachelors' degree in public accounting from Hofstra University. He is a member of the American Institute of Certified Public Accountants (AICPA) and the New York State Society of Certified Public Accountants (NYSSCPA).

NOTE: Alvarez & Marsal employs CPAs but is not a licensed CPA firm.