A&M continues European expansion strategy with new Stockholm office

18 August 2017 Consultancy.uk

Consulting firm Alvarez & Marsal has expanded its global footprint by opening a new Nordics office in Stockholm. The new office in Sweden's capital city is led by three leading industry professionals, who all joined from Big Four firm KPMG.

In a move prompted by pan-European regulatory changes which have driven expanding markets to higher levels of demand, global professional services firm Alvarez & Marsal (A&M) have opened a Stockholm office. The locale is aligned with the firm’s global expansion strategy, aimed at meeting demand for independent professional services firms to help clients meet the new cross-continental regulations. This new Scandinavian venture follows several projects completed in the region, with the consulting firm using the momentum and demand created to open up on-the-ground operations in the Nordics.

A&M’s market share reportedly continue to expand, with the firm’s European practices experiencing more than 30% growth over the past two years, making the new Nordic tact an integral part of the firm’s longer term ambitions. The Stockholm office is accompanied by the news that A&M also went to great lengths to invest in heavyweight industry professionals from Big Four consultancy KPMG, primarily in order to further attract businesses in the region to the new growing Nordic wing. Recognised transaction advisory and operations professionals Christer Wiberg, Taus Wolfsberg and Christer Johansson join A&M’s Stockholm office as Managing Directors.

Alvarez & Marsal expands deeper into Nordics with Stockholm office

According to a release from A&M following the appointments, the headhunting of the experienced trio was aimed at augmenting A&M’s comprehensive offerings through reinforcing its “operational heritage, fortifying its connectivity across Europe and growing the Nordic region.”

The Nordics division has previously seen expansion as A&M also invested in regional restructuring capabilities with Norway-based Senior Director Ole Kristian Sivertsen serving as a member of the Nordic Restructuring and Turnaround team. 

Three Managing Directors to lead operation

Taus Wolfsberg was Head of KPMG’s Deal Advisory in Sweden before joining A&M, having previously served as leader of the Big Four firm’s Private Equity (PE) group there. Christer Johansson meanwhile brings more than 15 years of operational due diligence, carve-out processes and integrations expertise to A&M, having most recently led KPMG’s Nordic market operational due diligence and integrations/carve-out team. Christer Wiberg, who will also serve as Country Leader and Transaction Advisory Leader of A&M’s Nordic operations, came to A&M with extensive expertise advising clients on complex and international buy-side and sell-side due diligence projects across multiple sectors including healthcare, consumer retail and industrial manufacturing. Wiberg was most recently the leader of KPMG’s Advisory business in Sweden.

Wiberg said of the new challenge he and his colleagues had taken on, “A&M’s comprehensive offerings and freedom from audit conflicts position the firm as the go-to partner for Nordic corporates and PE firms. A&M’s operational heritage is at the foundation of maximising value through transaction advisory and is at the heart of our joining A&M. My colleagues and I look forward to working with A&M’s clients and expanding the firm’s Nordic presence.”

This is not the first time a large-scale poaching of talent has occurred in the booming Nordic consulting market which – particularly thanks to Sweden’s continued market growth to a value of €800 million – has seen consultancies determined to dip into the increasing profitability of the region. In 2016, as BDO opened 4 offices in Sweden, the firm also raided six partners and 14 professionals from rivals Grant Thornton.

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