Alvarez & Marsal Tax Expands Global Restructuring Services
Alvarez & Marsal Tax, known for its exceptional professional services, has made a strategic move by appointing Howard Steinberg as the Managing Director and Head of Global Restructuring Tax Services. This significant appointment aims to enhance A&M Tax's capabilities and further develop its global restructuring tax practice, aligning with the firm's esteemed reputation in the industry.
Howard Steinberg's Impressive Background
Mr. Steinberg brings a wealth of experience to Alvarez & Marsal, having spent over three decades advising on a multitude of major and complex U.S. bankruptcies. His expertise spans across advising debtor companies and creditor groups, particularly in intricate restructurings and mergers and acquisitions.
Having served 33 years at KPMG, where he was a partner and most recently the Global Head of Restructuring, Tax and Legal, Mr. Steinberg's addition to A&M is a noteworthy advancement. His previous experience also includes a significant role in leading M&A Tax for KPMG US, showcasing his vast reach in the field of tax restructuring.
Commitment to Building a Premier Tax Practice
Ernesto (Ernie) Perez, Global Practice Leader of A&M Tax, expressed enthusiasm about the new appointment, stating, “We have built a distinguished Restructuring Tax Practice and are firmly committed to bringing on premier advisors to serve our clients. Our growing international ambitions attract top talent like Howard, whose expertise and leadership will reinforce our market position both domestically and internationally.”
Underlining the importance of Mr. Steinberg’s role, his experience also includes serving as an expert witness during the Toys “R” Us bankruptcy, indicating the caliber of cases he has handled. His extensive list of clients includes high-profile companies such as Caesars Entertainment, Frontier Communications, and Purdue Pharma, among others.
Preparing for Future Restructuring Cycles
Mr. Steinberg highlighted the anticipated multi-year restructuring cycle, prompted by factors like elevated corporate leverage, high interest rates, and changing technological landscapes. He believes that A&M's well-respected restructuring tax capabilities, combined with its operational strengths, position the firm uniquely to guide clients through complex challenges in the coming years.
His academic credentials, including a bachelor's degree from the prestigious Wharton School at The University of Pennsylvania and an MBA from Columbia University, add to his qualifications. Mr. Steinberg also holds various certifications, including being a licensed CPA in New York and a Certified Insolvency and Restructuring Advisor (CIRA).
About Alvarez & Marsal
Alvarez & Marsal (A&M) is a globally recognized professional services firm that leverages its advisory, business performance improvement, and turnaround management capabilities to assist companies, investors, and government entities worldwide. Since its founding in 1983, A&M has gained respect for delivering practical solutions that drive transformation and change.
Alvarez & Marsal Tax: A Dedicated Team
A&M Tax is an independent tax group dedicated to providing bespoke tax advice across various industries. Free from audit-based conflicts, A&M Tax is committed to delivering responsive service that caters to its clients' unique needs. With an extensive global presence, the firm operates in key metropolitan markets across the Americas, EMEA, and APAC, ensuring that it remains a go-to solution for complex tax-related challenges.
Frequently Asked Questions
1. What is the significance of Howard Steinberg's appointment at A&M Tax?
Howard Steinberg's appointment is significant as it enhances A&M Tax's capabilities in global restructuring services and aligns with their ambition to attract top-tier talent in the industry.
2. What experience does Howard Steinberg bring to Alvarez & Marsal?
Mr. Steinberg has over 30 years of experience in advising on large and complex U.S. bankruptcies and has held key positions at KPMG and Houlihan Lokey, making him a leading expert in tax restructuring.
3. What are the future expectations regarding corporate restructuring?
Mr. Steinberg has indicated that a multi-year restructuring cycle is likely due to elevated corporate debt levels, high interest rates, and technological changes, necessitating expert guidance through these complexities.
4. What are the core services provided by Alvarez & Marsal?
A&M offers a wide range of services including advisory, business performance improvement, turnaround management, and specialized tax services, focusing on transforming and enhancing client operations.
5. How does A&M Tax differentiate itself in the industry?
A&M Tax distinguishes itself by offering tailor-made tax advice free from audit conflicts, ensuring that they provide undivided attention and a commitment to responsive client service.
