Global consultancy firm Alvarez & Marsal has extended its financial restructuring consultancy practice to Italy.
âThis is the next strategic step in expanding our financial restructuring offering across Europe,â said Paul Kirkbright, Managing Director and Practice Leader in EMEA. âOur on-the-ground initiatives in Italy reflect our hands-on approach to meeting the ever-changing financial restructuring needs across the country and region. ”
Alvarez & Marsal’s financial restructuring advisory team provides restructuring advice to creditors, investors, corporations, management and other stakeholders to deliver restructuring solutions with in-depth financial analysis, independent business review, contingency planning, operational expertise and financial advisory services.
The wing is part of the company’s Restructuring & Turnaround business unit and is headquartered in London. In recent years, the firm has developed its teams throughout its presence in the United Kingdom, France, the Nordic countries, Switzerland, Spain and Germany, a development which accelerated during Covid-19 due to the growing need for financial restructuring services as a result. of the crisis induced by the pandemic.
Commenting on the growth, Kirkbright said: âAlvarez and Marsal’s freedom from audit conflicts [as opposed to the Big Four for instance] ensures the continuous advancement of our offer throughout the region. We already have the most comprehensive service and geographic coverage of any independent firm with growth yet to come. “
In Italy, the Financial Restructuring Advisory practice is headed by Jacopo Barontini, who joins the firm from Deloitte, where he was a partner. At The Big Four, Barontini helped set up the Restructuring firm and co-led its growth to its current size of thirty. His track record spans over 20 years of experience in financial restructurings and (troubled) transactions.
Barontini specializes in national and cross-border restructuring, refinancing and reorganizations, and has advised corporate clients, lenders and borrowers on complex transactions in judicial and extrajudicial restructurings across multiple industries and jurisdictions. Recent deals include Fintyre (advice to lenders, 2020), Prometeon (advice to lenders, 2019) and Roberto Cavalli (advice to special situations, 2019).
Alberto Franzone, Managing Director of A&M Italy Restructuring & Turnaround practice, said: âJacopo’s appointment enhances our integrated financial advisory practice and our ability to deliver cross-functional turnaround services and solutions that drive change. His expertise aligns with the current and post-transaction needs of our lenders and corporate clients. “
In Italy, Alvarez & Marsal is based in Milan.