Alvarez & Marsal has hired twenty year restructuring veteran Michael Stewart, who joins from CIBC Capital Markets where he headed the firm's Restructuring offering. Stewart will work from Toronto and provide a broad range of restructuring services to companies across the region, as considerable commodity price uncertainty pushes up turnaround demand.
Prior to joining Alvarez & Marsal (A&M), Michael Stewart worked at Canadian Imperial Bank of Commerce Capital Markets as a Managing Director and Head of the firm’s Restructuring practice for six years. Previously, from 2004 until 2010, Stewart worked at Jefferies where he based in New York worked his way up to the role of Senior Vice President within its Recapitalisation & Restructuring practice. Stewart started his career at KPMG in Canada, where he worked for seven years, in his latest recent role as Senior Manager in its Corporate Restructuring practice.
Stewart holds a Bachelor of Commerce in Economics from the University of Toronto. Stewart is a CPA (Certified Public Accountant), and a Licensed Insolvency Trustee from the Canadian Association of Insolvency and Restructuring Professionals.
Michael Stewart joins A&M’s Restructuring Practice as a Managing Director in Toronto. Stewart’s more than 20 years of experience in the role, provides the firm’s broad range of industry clients with restructuring coverage in a time of uncertainty – particularly in the energy and commodities market.
Doug McIntosh, Managing Director with Alvarez & Marsal Canada and leader of A&M's practice in Canada, remarks, “Michael’s unique restructuring and capital markets background, having worked extensively in the U.S. and Canada as both a licensed insolvency practitioner and an investment banker, serves to continue to strengthen our leadership resources in Canada and with cross-border cases. Although his experience spans many industries, Michael’s in-depth expertise in the energy sector and related capital markets, where the industry has been hit particularly hard by capital structure stress and low commodity prices, will be of significant benefit to our clients in the context of current market conditions.”
A recent study from Roland Berger found that the demand for restructuring services is on the rise in Europe, while another study, from AlixPartners, came to the same conclusion for the Asia Pacific region.