Alvarez & Marsal to increase headcount, presence in India

Turnaround specialist Alvarez & Marsal (A&M) is looking to increase the number of employees in India, the consulting firm’s biggest market outside the US and Europe, said top executives. “From a headcount perspective this (India) is the fastest growing region outside of the US for us. So it’s extremely important,” said Mr. Nick Alvarez, managing director and national practice leader of A&M’s private equity performance improvement group and transaction advisory group. “Our largest market is the US followed by the UK and Europe and I would say that India has become the third.” A&M is looking to increase its India headcount to 125 from 95 currently, and is also looking to set up an office in Delhi, said Mr. Vikram Uttamsingh, co-head of A&M India. It currently operates from its Mumbai office. “We are thinking of setting up a risk management vertical for banks. That’s an opportunity that we see here in India. We will look to do that sometime next year,” he said. A&M is also in the process of setting up an office in Delhi. “We have decided to set up a Delhi office, because we think that is a big market for us on the restructuring side, both with the banks and corporates. We are in the process of hiring a leader for the Delhi office, which will be a managing director level hire,” he said. The consulting firm is targeting a growth of 50% in its top line by next year, he added. The firm has seen a strong expansion in the last couple of years in terms of service lines as well as headcount.