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Alvarez & Marsal Makes First Senior Hires for Turnaround Practice in Singapore

October 28, 2020, 08:00 AM
Related: Alvarez & Marsal

Alvarez & Marsal (A&M) has expanded its Asia restructuring team with the senior appointments of Joshua Taylor and Steffi Thio as Managing Director and Senior Director, respectively, both based in Singapore. The senior appointments mark the first senior hires for A&M’s Restructuring and Turnaround Practice in Southeast Asia and demonstrate the firm’s commitment to maximizing value for clients across the region amid rising demand for consultancy work on corporate restructuring and insolvency.

With more than two decades of experience, Mr. Taylor brings established expertise in insolvency appointments and debt restructuring in Asia, Australia and the Cayman Islands. Prior to joining A&M, Mr. Taylor served as Senior Managing Director of FTI Consulting in Singapore, where he assisted in the development of the Southeast Asia practice and supported major clients, including international financing institutions, private equity, bondholders, law firms and distressed funds.

Ms. Thio also brings over two decades of experience in building and managing performing and non-performing credit portfolios for banks and financial institutions in Asia. Before joining A&M, she held credit risk management roles at Standard Chartered Bank and HSBC. Ms. Thio has a successful track record of delivering risk targets throughout macroeconomic cycles.

“As we continue with our expansion of the Restructuring and Turnaround practice in Asia, we are thrilled to welcome Joshua and Steffi to mark our first senior hires in the Singapore office,” said Ron Thompson, Managing Director of A&M Asia and Head of Asia’s Restructuring and Turnaround Practice. “They are both leaders in the space and with synergies amongst our mainland China, Hong Kong and Singapore offices working as one team, Joshua and Steffi will bolster A&M’s restructuring bench strength and its unique ability to support our clients across the region.”

“The need for corporate restructuring and turnaround is paramount amid the changing business environment in Singapore and across the region this year. A&M has already built a reputation for being a leader in this space and I am honoured to have joined the expanding Asia team to bolster the firm’s heritage of operational excellence,” said Mr. Taylor. “As loan moratoriums expire, we anticipate an increased flow of corporate distress situations in the months to follow. Now is the time to fix the deep-rooted issues for healthier financials in order to come out in a stronger position after the pandemic.”

“Leading into the recovery Post-COVID, it is imperative that businesses remain agile and plan for the longer term. We want to help companies work with their creditors and to raise capital to support their rebound in business. There will be a need for working capital lines, covenant waivers which will be difficult given recent historical performance. I am delighted to join A&M at this important time when corporations across the region are in increasing need of advice and support on restructuring solutions,” added Ms. Thio.

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