Athens: the Greek economy may be on the brink and civil society in chaos, but Alvarez & Marsal, A&M, turnaround and interim management specialist professional services firm, has taken a deep breath and opened a new office in Athens.
This expansion, it says, is due to the demand in both 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.
Spyros Martsekis joins A&M's new Athens office as a Managing Director and Head of A&M Greece. 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.
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."
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."