Alvarez & Marsal (A&M) continues to expand its Restructuring & Turnaround practice in Asia with the appointment of Budi Mulyana as Senior Director, based in Jakarta, Indonesia. With this first appointment in Indonesia, A&M expands its presence in Southeast Asia, five years after the opening of its Singapore office.

Mr. Mulyana’s appointment reinforces A&M’s Restructuring & Turnaround offering in Asia, following several recent senior appointments in the region, including Managing Director Joshua Taylor and Senior Director Steffi Thio based in Singapore, Senior Advisor Tod Macri in Hong Kong and Senior Director Ben Hsiao in Shanghai. It also rounds out A&M’s end-to-end services in the Indonesian market, adding to Senior Directors Suresh Dalai and Charles Evans’ extensive experience in restructuring, performance improvement, board management, and interim chief operations officer roles in the country.

With more than 15 years’ experience spanning investment banking, investment management, leveraged finance, lease finance, turnarounds and restructurings, Mr. Mulyana has worked across multiple Asian markets including Singapore, Hong Kong, mainland China and Indonesia. He has deep knowledge of debt markets, having worked across the entire debt life cycle from issuances to investments and restructurings.

He joins A&M from Orix Corporation where he spent five years in the role of Senior Advisor, based in Jakarta. Prior to this, he was a Director at CVC Capital Partners in Hong Kong. He started his career in investment banking, first at Bear Stearns as an Analyst before joining DBS Bank in Hong Kong as Vice President.

“The launch of A&M’s restructuring practice in Indonesia will help corporates address the pandemic-induced tightening of liquidity and significant rise of Indonesian corporate bonds defaults,” said Ron Thompson, Managing Director of A&M Asia and Head of Asia’s Restructuring & Insolvency Practice. “Budi’s experience aligns with the firm’s operational heritage and ‘leadership, action, results’ credo. A&M’s extensive international creditor experience, combined with Budi’ in-depth knowledge, of the Indonesia market furthers our ability to develop restructuring solutions that help unlock value and support long-term growth for businesses and bondholders.”

“A&M is an established industry leader across multiple Asian markets. The firm’s expansion into Indonesia is timely as multiple sectors seek to recover from the pandemic by driving change and maximizing value. A&M’s integrated approach and legacy of operational excellence will help advance its footing in this market,” said Mr. Mulyana.