M-III Partners hired Thomas Biaggi, a former Bank of America executive, and Keshav Lall, former CEO of Essar Capital Americas, as managing directors.
“M-III was founded to provide expert, independent advice to companies looking to tackle some of their most difficult challenges,” Mo Meghji, founder and managing partner of M-III, said. “Businesses today are facing unprecedented challenges and uncertainties, and we are adding to our roster of senior turnaround professionals to answer the growing demand across virtually every industry, including retail, specialty finance, industrials, real estate, food and beverage, consumer products, transportation, hospitality, energy, metals and mining, TMT and sports and gaming.”
Prior to joining M-III, Biaggi served for 35 years at Bank of America Merrill Lynch, where he rose to become special assets group executive, with responsibility for managing distressed commercial loans for the entire bank on a global basis.
During his tenure at Bank of America Merrill Lynch, Biaggi also was senior risk executive for leveraged finance, media and telecom, and sports and gaming; was a member and then chair of the commercial credit risk policy committee; and was a voting member of the allowance for loan loss committee. He has served as a senior point of contact with the OCC, Federal Reserve, FDIC and Bank of America Merrill Lynch’s internal credit review and audit functions.
Before joining M-III, Lall served as the president of global special opportunities and the CEO and chairman of Essar Capital Americas, part of a global industrial conglomerate with more than $11 billion in revenue. In this capacity, he oversaw a private portfolio of five infrastructure, energy and industrial companies with approximately 3,500 employees and capital structures in excess of $4 billion. He also was responsible for restructurings and operational improvements, leading Essar’s efforts in global distressed situations from both an operational and investment perspective, where he renegotiated claims with unions and domestic and foreign governments.
Lall previously founded KAL Advisory Partners, advising corporations, family offices, investment funds and industrial clients on distressed credit situations and litigation management. He also previously held several positions in distressed credit, including at Balyasny Asset Management, Citadel Investment Group, Marblegate Asset Management and Deutsche Bank.
“Tom is a well-known industry veteran who brings a wealth of knowledge from years of working out distressed loans across a wide range of sectors, balancing the need to maximize value against the need to quickly resolve distressed assets,” Meghji said. “Keshav has managed and participated in numerous complex restructurings as a stakeholder, including the bankruptcies of Essar Steel Algoma, Essar Steel Minnesota and the Port of Algoma. Both Keshav and Tom are tremendously talented, highly experienced, and insightful leaders who businesses can trust with their most pressing needs during difficult times.”
M-III is an independent corporate advisory firm that provides operational, strategic and financial solutions to a broad range of clients. The company previously served as chief restructuring officer for Sears, Barneys New York, Sanchez Energy and Relativity Media.
“We know that the current health crisis has left many companies struggling, and our mission is to help them develop and implement the solutions they need to navigate the current environment, prepare for the future, manage liquidity and maximize their value,” Meghji said.
