Alvarez & Marsal, the New York-based international management consulting firm, has opened an office in Dublin by establishing a corporate finance practice with a former KPMG Ireland managing director as its head.*
Niall Flood, who had worked with KPMG Ireland for a decade until October 2023 and had co-led mid-market mergers and acquisitions advisory, joined the firm late last year from Dublin-listed healthcare services group Uniphar, where he was finance director for over a year.
It is understood that Alvarez & Marsal, which has taken office space on Merrion Square in the capital, plans to hire as many as 20 people over the next two years across various areas.
Former Irish banker Tom McAleese was hired by Alvarez & Marsal 15 years ago as managing director for Ireland. He subsequently became heavily involved in European banking sector restructuring in the wake of the financial crisis and, more recently, has been a managing director of the firm’s sovereign advisory team, working mainly from London.
“The opening of A&M’s first office in Ireland marks a significant moment for us as a firm,” said Jonathan Boyers, Alvarez & Marsal’s head of corporate finance for Europe, the Middle East and Africa (EMEA).
“Having on-the-ground, local experts is critical to supporting entrepreneurs and business leaders effectively with their financing needs. As we continue to expand, our focus remains on creating a fully integrated global business that allows us to support clients across borders, blending access to international buyers with deep sector knowledge and local expertise.”
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Alvarez & Marsal’s EMEA-wide corporate finance team has grown significantly since it was established in July 2023. The team consists of 11 managing directors and 90 employees across the region.
The firm was known in recent years to have been considering setting up an Irish office, though there had been speculation that it would start off with a corporate restructuring and turnaround practice. It is best known for leading the restructuring of Arthur Anderson and Lehman Brothers after they imploded and was established four decades ago by corporate workout specialists Tony Alvarez and Bryan Marsal.
Alvarez & Marsal, which has more than 10,000 employees globally, owns the exclusive Hogs Head golf resort in Waterville, Co Kerry. The two founders oversaw an investment of tens of millions of euros in the venture, developed out of the purchase of properties, including the former Waterville Lake hotel and Skellig Bay golf club, a decade ago.
Mr Flood said that he is “looking forward to helping our clients generate and realise value in what is expected to be a dynamic M&A market in 2025″. M&A refers to mergers and acquisitions.
Irish M&A increased almost 5 per cent last year to 424 deals, defying the global trend, as technology transactions drove activity, according to stockbroking and wealth management firm Davy.
M&A globally declined by nearly 7 per cent, amid slow global growth and uncertainty resulting from a slew of elections, even as notable central banks started to reduce official interest rates at pace amid cooling inflation.
The value of Irish deals slid 61 per cent in 2024 to €13 billion, with data for 2023 skewed by Smurfit Kappa’s €18.7 billion agreement to merge with US cardboard box-making rival WestRock, Davy said. Stripping this transaction out, the value of Irish deals dropped 9.5 per cent, it added.
*This article was amended on January 9th, 2025 to correct former position of Niall Flood at KPMG
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