Alvarez & Marsal adds directors, team for Asia expansion

By Caroline Salls

Pittsburgh, July 5 - Alvarez & Marsal hired Cos Borrelli, Kelvin Flynn and Neill Poole to serve as managing directors and form the core leadership team for Alvarez & Marsal Asia Ltd., according to a company news release.

The trio will also be joined by their 80-member team, formerly of RSM Nelson Wheeler Corporate Advisory Services Ltd.

The team has extensive advisory experience across Hong Kong, Singapore, China, Japan, Korea, Philippines, Taiwan, Malaysia and Thailand, working on some of the region's high-profile corporate distress and dispute situations.

The team has a proven track record in establishing, negotiating and delivering restructuring arrangements and provision of forensic accounting and expert witness testimony across a wide range of industries, according to the release.

Alvarez & Marsal's expansion into Asia reflects a change in the marketplace for insolvency and restructuring services and, in particular the increasing conflicts arising from Sarbanes-Oxley legislation requirements for greater corporate governance and independence, the release said.

"This strategic decision to join Alvarez & Marsal reflects our view that the traditional insolvency and restructuring business in Asia has shifted," Flynn said in the release.

Poole added in the release, "The tighter regulation of multi-national corporations in the United States and Europe is increasingly affecting companies in the Asia Pacific region. In addition, the growth in Asian markets is likely to result in more disputes between foreign and local investors and trading partners."

Alvarez & Marsal is a leading global professional services firm with expertise in guiding underperforming businesses through complex operational and financial challenges.

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