Alvarez & Marsal launched its financial services industry practice in the U.S., with the expansion including the addition of seven new managing directors to an existing team of six.

Led by Michael Spellacy as managing director, the financial services industry practice partners with financial services institutions and private investors to unlock tangible value. The senior team advises across the transaction lifecycle with an aim to drive revenue growth, efficiency and balance sheet optimization. Alvarez & Marsal’s practitioners support clients on revenue enhancement, customer experiences, digital transformation, risk and regulatory landscape navigation, performance improvement, and end-to-end transaction and M&A services.

The new managing directors for the financial services industry practice include:

  • Michael Cheek – capital markets and banking
  • Bruce Holley – banking, wealth and asset management, insurance, fintech and artificial intelligence
  • Michael Horvath – wealth and asset management
  • Farrell Hudzik – banking and payments
  • Brian Kuelbs – financial and capital markets turnaround
  • Greg Parets – wealth and asset management, banking and fintech

“Executive clients face unprecedented challenges, and the incisively clear need for results,” Spellacy said. “Drawing on A&M’s rich operational heritage, we take a turnaround mindset to quickly deliver leadership, action and results to the executive agenda. We’re not afraid to ask the tough questions and practically address core issues with rich industry perspective so clients can focus on outcomes, profitability and sharpen their differentiated market edge.”

The expansion builds on the continued growth of Alvarez & Marsal’s global financial services industry practice. In 2023, it added 20 managing directors to it’s the practice in the EMEA region, led by David Edmonds and Fernando de la Mora. The firm took on new expertise in wealth and asset management and digital in the UK, as well as portfolio advisory in the United Arab Emirates and M&A in Spain. It also made senior financial services industry hires to meet growing demand in Austria, Germany, Portugal and Switzerland.

“This is the natural next step in A&M’s integrated, global expansion strategy,” Antonio Alvarez III, a managing director and head of the EMEA region at Alvarez & Marsal, said. “We are not only continuing our long tradition of serving as a trusted partner of U.S. clients. We’re also building on the FSI success story across EMEA so that our internationally minded clients can tap into insights across the firm’s network. We’re delighted to have these senior colleagues onboard and look forward to welcoming more in the near future.”