Alvarez & Marsal’s fully-owned subsidiary, Independent Portfolio Management, has been granted a servicer license by the Bank of Greece for the management of claims from loan and credit facilities in accordance with the local legal and regulatory framework.

The company is the first independent business loans servicing company in Greece that can offer lenders end-to-end servicing solutions for loans to small and medium enterprises and larger corporate borrowers.

IPM will provide its services to the Greek banks as well as to investors that will acquire bank loan portfolios. This new venture is aligned with Alvarez & Marsal’s strategy to broaden its business and develop service offerings to meet evolving client needs with practical solutions.

As a servicing platform, IPM will focus on portfolios of loans to SME and corporate borrowers with turnover of at least €1 million.

Bryan Marsal, co-founder of A&M, said, “IPM expands our presence and capabilities in Greece and reinforces our strategy to support Greek banks in managing their NPEs. IPM’s offering adds value to servicing loans by supporting restructuring initiatives with borrowers along with mobilizing A&M’s global network and access to the international investor community. As a loan servicing platform in Greece, IPM harnesses A&M’s extensive experience managing distressed assets. Moving forward, we may consider developing this capability in other jurisdictions as local needs justify.”

Marios Koliopoulos, managing director and country head for A&M in Greece, will serve as IPM’s CEO. Cyrus Ardalan, previously a vice chairman at Barclays and a A&M Senior Advisor, will serve as the non-executive chairman of IPM’s board of directors.

A fully-owned subsidiary of Alvarez & Marsal, Independent Portfolio Management is the first independent business loan servicer in Greece focusing on small and medium-sized enterprises and corporates. IPM is licensed and regulated by the Bank of Greece.