Tasneem Azad
Managing Director
Quick facts
Co-leader of the A&M European Economics team
18+ years advising on competition, anti-trust and economic regulatory issues
Particular expertise in the financial services, network, telecommunications, media and online sectors
Expert testimony (damages claims) and investigation advisory support
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Tasneem Azad is a Managing Director (Partner) of Alvarez & Marsal (A&M) Disputes & Investigations LLP, and co-lead of A&M’s European Economics practice.

Her primary areas of concentration are competition (anti-trust), regulatory and market investigations and inquiries, international arbitration and domestic litigation expert (testifying) roles, assessment of economic damages, liability and cartel overcharge and follow-on claims, merger due diligence and general economic advisory, with particular expertise in behavioural and financial economics.  Tasneem is listed as a world leading practitioner within the 2018 Euromoney Expert Guide on competition and antitrust. 

Ms. Azad has experience in sectors including financial services, insurance, telecommunications, media (TV, radio, social and internet platforms), information, energy and utilities.  She supports clients through the full course of investigations and market studies before relevant authorities.  In respect of damages claims, she provides expert advice and / or oral testimony in cases related to factual causation and liability, counterfactuals and quantum calculations.  This has included cases in respect of many high-profile EC cartel decisions.  Tasneem’s investigation and advisory projects include supporting clients on competition or regulatory engagement with relevant policy markers or authorities, setting retail price or access/wholesale charge controls (including dealing with cost of capital issues) and interoperability arrangements, assessments of regulatory impacts and wholesale issues (for example margin squeeze cases), designing complex surveys to assess customer or user insights, complex data analytics and undertaking event studies, and market and financial modelling.  

Prior to joining A&M in 2013, Ms. Azad was with a boutique economics consultancy, as its Director of Competition and Regulation.  She advised clients through high profile market inquiries and cases before the likes of the UK Office of Fair Trading, Competition Commission, Competition Appeals Tribunal and the European Commission.  Example cases include supporting MBNA Europe Bank Limited through the Payment Protection Insurance investigation, British Telecommunications in respect of appeals on mobile termination rates and Ethernet services and Virgin Media during the inquiry into Sky’s provision of Pay TV channels.

Ms. Azad was previously a member of the UK Government Economic Fast Stream Service, holding posts at the Department of Trade and Industry, Her Majesty’s Cabinet Office, the Low Pay Commission, the Office of Fair Trading and the Postal Services Commission.  Ms. Azad was also seconded to the European Commission as a national expert, during which time she undertook the accession reviews of the joining member states (e.g. The Republic of Estonia, Poland and Slovenia).

Ms. Azad earned a bachelor’s degree in Economics and a master’s degree in Economics and Philosophy, both from the London School of Economics (LSE).  She has also undertaken a second master’s level course in Industrial Economics, also from the LSE.  Ms. Azad undertakes speaking engagements on a variety of economic issues.