ATHENS, Greece--(BUSINESS WIRE)--Alvarez & Marsal (A&M), the global independent professional services firm, has broadened its global reach with a new office in Athens, Greece, and made its first senior appointment. This expansion is due to the demand in the Greek private and public sectors for A&M’s capabilities, with key focus areas on banks and financial institutions, taxation and corporate and private equity transactions, such as mergers and acquisitions.
A&M already has a strong track record in Greece. The firm recently guided Greek telecoms company Wind Hellas through a high-profile pre-pack administration, which cleared the way for the business to continue trading as Greece’s third-largest mobile and fixed-line telecommunications provider. The new Athens office broadens the geographic expertise and knowledge of A&M’s European business as the need for its advisory and interim management services continues to extend into new markets.
Spyros Martsekis joins A&M’s new Athens office as a managing director and head of A&M Greece. Mr. Martsekis joins from KPMG’s Athens office, where he served as deputy general manager and country head of corporate finance and private equity advisory. He has nearly 20 years of experience of leading advisory projects and M&A transactions. Mr. Martsekis has also held senior positions at the Greek private and public sector, HSBC Private Bank and Morgan Stanley.
Also working in Greece is Nils Melngailis, senior member of the A&M team and co-Head of A&M’s European Financial Services Group. Mr. Melngailis specialises in advising banks and governments on restructuring strategies in Eastern and Southern Europe, including in Greece.
Antonio Alvarez III, Managing Director and Head of A&M Europe, said:
“The situation across the Eurozone is unprecedented. At A&M we’ve learned a lot from working with the private and public sector in countries like Ireland and Iceland. We believe a lot of that knowledge can be applied in the wider effort to restore Greece back to prosperity. Further, our experience in advising governments and corporates on fiscal matters may come in to play going forward as Greece drives through reform of its tax regime. Spyros is our first important senior hire for A&M in Greece, and marks a planned broader commitment to build local capabilities.”
Nils Melngailis, Managing Director, said:
“The financial system in Greece is under substantial pressure and will need to be transformed as banks separate non-performing assets and merge to build critical mass. The privatisation programme is very ambitious and will involve transactions in many sectors. Given the uncertain economic environment, these transactions will require advisors with considerable international track records in both the public and private sector to support the current shareholders and to guide corporate and private equity investors entering the market.”
Spyros Martsekis, Managing Director, said:
“It is an exciting time to be joining A&M and, equally, it is the right time for the firm to open in Greece as the Government is making great strides in trying to transform the country’s fortunes. A&M’s experience in running projects as large and complex as the management of the global assets of Lehman Brothers Holdings Inc. will provide both the platform and the manpower to help the Greek economy return to growth.”
About Alvarez & Marsal
Alvarez & Marsal (A&M) is a global professional services firm specializing in turnaround and interim management, performance improvement, tax and business advisory services. A&M delivers specialist operational, consulting and industry expertise to management and investors seeking to accelerate performance, overcome challenges and maximize value across the corporate and private equity investment lifecycles. Founded in 1983, the firm is known for its distinctive restructuring heritage, hands-on approach and relentless focus on execution and results.
To learn more, visit www.alvarezandmarsal.com.
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