Leading global professional services firm Alvarez & Marsal (A&M) has expanded its trust management capacity with the addition of Barry Babbitt, who joins the firm’s Financial Industry Advisory Services group as a Senior Advisor in Detroit.
As a highly qualified trust management expert with more than 46 years of experience, Babbitt strengthens A&M’s capabilities in guiding organizations seeking growth and expansion in their fiduciary business. He brings a specialized focus in helping financial institutions, including banks, investment management firms and broker-dealer organizations, expand profitability and increase sales and revenue through trust services.
Prior to joining Alvarez & Marsal, Babbitt served as National Sales Manager of the Professional Trustee Alliance Business at Comerica Bank & Trust N.A. At Comerica, he leveraged his vast fiduciary and trust business development experience to lead the Alliance Business to increasing its total assets from $4.6 billion to $10 billion and total revenue from $25 million to more than $54 million during his tenure.
“The personal trust industry is undergoing a transformation through which it’s embracing an ‘open architecture’ model in recent years, and as this evolution persists, it continues to have a major impact on our clients,” said Craig Walling, a Managing Director in the firm’s Financial Industry Advisory Services practice. “Barry brings to A&M the expertise of a seasoned professional who has worked for a bank and then continued with that work on the brokerage side. This invaluable lens further enhances our ability to offer high quality services to our clients in this space.”
Prior to that, he spent 13 years in trust management positions at Smith & Barney, and later Citi / Smith Barney. In these roles, he helped organize and develop Smith Barney Personal Trust, which later became Citigroup Trust.
Privately held since 1983, A&M is a leading global professional services firm that delivers business performance improvement, turnaround management and advisory services to organizations seeking to transform operations, catapult growth and accelerate results through decisive action. Our senior professionals are experienced operators, world-class consultants and industry veterans who leverage the firm's restructuring heritage to help leaders turn change into a strategic business asset, manage risk and unlock value at every stage.