Alvarez & Marsal (A&M), the global independent professional services firm, has expanded its valuation services business to Europe. Building upon A&M’s success in the United States, where it has established valuation teams in 10 cities in the past two years, the firm has appointed Kleon Phili as a managing director to launch its European valuation services practice.
Phili will be based in London with the goal of expanding the service to other key European geographies. The launch enhances A&M’s growing European business and augments the firm’s existing valuation capability in the US.
John O’Neill, practice leader for A&M’s Valuation Services, said “Europe is the next logical step in our evolution. A&M’s unique insight into companies, often through collaboration with our restructuring, operational and financial colleagues, makes us well-positioned to address the complex valuation issues at play here. We are thrilled to have Kleon join us, particularly given his prior international experience, as we enhance A&M’s valuation service offering and footprint in lockstep with the firm’s global expansion.”
Changes in auditing practices and accounting principles, instability and uncertainty in the market, and conflicts of independence have all contributed to the growing need for valuation expertise among A&M’s global client base. The large adjustments required by the banking sector in particular, exacerbated by the financial crisis, also require strong valuation advice.
Phili brings more than 25 years of valuation experience serving multinational companies, private equity firms, their portfolio companies and private companies. His experience covers multiple industry sectors, including telecoms, technology, consumer and manufacturing. His work has spanned engagements requiring valuations for M&A, financial reporting, tax, transaction opinions and dispute purposes.
Phili said: “Boards and senior executives want highly specialised, expert guidance on the business, regulatory and accounting issues underpinning valuation. My focus will be to combine A&M’s strong brand presence, operational heritage and geographic reach with my own skills and experience to deliver a best-in-class valuation service to clients.”
Prior to joining A&M, Phili served as Executive Vice President, Global Segment Leader of Financial Advisory and Executive Committee member at Duff & Phelps, the global valuation and corporate advisory firm. During his tenure at Duff & Phelps he launched both its European and Asian operations across six different countries. Previously, he was a managing director with Standard & Poor’s Corporate Value Consulting practice, where he focused on advising large foreign multinationals listed on US exchanges. Phili began his valuation career at PricewaterhouseCoopers where he served as a key Financial Advisory Services partner on some of the firm’s largest clients.