US consulting firm Alvarez & Marsal (A&M) is set to further expand its presence in China, after tripling the number of its employees in Hong Kong and the mainland over the past five years to more than 400, while quadrupling its revenue.
The New York-based firm planned to increase its staff in China fivefold in the next four to five years, said James Dubow, managing director and co-head of North Asia, on Tuesday. A&M has more than 12,000 employees globally.
“China has become an increasingly complex operational environment after decades of rapid growth,” Dubow said. “The pace of change, market volatility, shifting supply chains, rapid digital adoption and evolving regulatory landscape are prompting clients to seek out advisers like A&M.”
A&M’s core businesses in China – including performance improvement, restructuring and turnaround, disputes and investigations and private equity services – have rapidly expanded in response to rising demand from Chinese corporations facing operational complexities, regulatory shifts and cross-border challenges, according to the company.
“While many consulting firms have scaled back or adjusted their operations in China over the past two years due to various macro and micro market factors, A&M has taken the opposite approach,” said Zhu Wei, managing director and co-head of North Asia. “A&M has chosen to forge ahead and actively expand.”
