PRINT THIS PAGE US turnaround specialist Alvarez & Marsal launches German office11/11/2003. Source: AltAssets. 
 US turnaround specialist Alvarez & Marsal (A&M) has expanded its European presence with the opening of a new office in Germany. A&M has appointed four new investment professionals to work in the firm's third European office.
A&M has appointed Kay Michel as managing director. Michel previously worked as a financial adviser for German engineering giant Phillipp Holzmann. He will be joined by Thomas Dillenseger, who was a manager in the corporate finance and recovery practice at PricewaterhouseCoopers.
A&M has also recruited Olaf Sachau from German jet manufacturer Fairchild Dornier where he was head of finance and part of the A&M led restructuring at the company. Wolfgang Felix, previously a consultant at KPMG, will also be joining the firm.
A&M provides advisory and management services for under-performing and over-leveraged companies. The firm set up its European headquarters in London in January 2003 and has also opened an office in Paris.
‘We have been active in Germany for many years,' said managing director Antonio Alvarez. ‘Now, with out first local base established, we can take better advantage of the increasing opportunities that stem from the greater emphasis being placed on reorganisations rather than liquidations and the stronger will to use rehabilitative provisions within Germany's insolvency code.'
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