Alvarez & Marsal Establishes Operations in Canada with Opening of Toronto Office.

Restructuring Industry Leader Douglas R. McIntosh Joins as Managing Director and Head of Alvarez & Marsal Canada ULC 

TORONTO -- Alvarez & Marsal (A&M), a leading independent, global professional services firm specializing in turnaround management consulting, announced it has expanded its North American operations to Canada with the opening of a Toronto office. Douglas R. McIntosh, the former head of KPMG's Canadian restructuring practice, has been named managing director and head of Alvarez & Marsal Canada ULC. He also joins the firm's executive committee for commercial restructuring in North America.

A pioneer in the nascent corporate restructuring industry at the time of its inception in 1983, Alvarez & Marsal has advanced concepts associated with corporate renewal, and was also among the first specialist turnaround firms to expand its global reach in Europe in 2000, followed by the opening of offices in Asia and Latin America. The firm's professionals excel at problem-solving and value creation, serving in advisory and interim management roles (when necessary), including chief restructuring officer (CRO), chief executive officer, and chief financial officer, among a range of other key posts to accelerate operational and financial performance improvement. Alvarez & Marsal brings a results-oriented track record for providing turnaround and interim management, performance improvement and other advisory services to clients with cross-border operations.

"The strong business and financial relationship between Canada and the U.S. makes a presence in Canada a natural step for Alvarez & Marsal," said Bryan Marsal, co-CEO of the firm. "In addition, because Alvarez & Marsal is not an audit and accounting firm, our business platform is not subject to conflict of interest or auditor independence issues, and can, therefore, provide more effective and responsive client service than the large public accounting firms.

"Doug has enormous credibility in the legal, financial, political and business communities in Canada, and he knows how to get things done," Mr. Marsal added. "He exemplifies the kind of world class talent we seek to bring on board in Canada, and has already hit the ground running to help build our North American presence and team."

"In the past several years, the Canadian market has seen a major shift in demand from creditor to company driven solutions," said Mr. McIntosh. "Corporate management and boards of directors are now taking a more proactive approach to dealing with problems and bringing in professionals who have the skill sets necessary to solve problems, implement positive change and maximize value for stakeholders.

"Alvarez & Marsal's global presence, depth and breadth of expertise in crisis and interim management and traditional restructuring and insolvency services set the firm apart in the Canadian market," he added. "What's more, A&M brings comprehensive cross-border capability to clients, a critical element in today's highly integrated North American economy. That expertise is combined with the firm's suite of complementary services such as global corporate finance, performance improvement, dispute analysis and forensics, real estate and business consulting, among others. This comprehensive range of services will provide tremendous value to clients."

With more than two decades of turnaround and restructuring experience, Mr. McIntosh has advised clients in both the private and public sectors, leading numerous engagements involving cross-border operations as well as significant out-of-court and Court sanctioned restructurings. He also has extensive experience serving in interim management roles, having operated and sold numerous businesses as court appointed or privately appointed receiver.

Mr. McIntosh also has been very active in the recent insolvency reform process in Canada, serving as vice-chair of the Joint Task Force Steering Committee on Insolvency Reform and as a member of the Joint Legislative Review Task Force Committee, charged with responding to draft Bill C-55.

Mr. McIntosh holds a bachelor's degree in commerce from Queen's University, where he has served as chair of the advisory board to the School of Business from 2000 to 2004, and currently sits as past chair. He is a chartered accountant, chartered insolvency and restructuring practitioner, and a Canadian trustee in bankruptcy. He is also a frequent speaker on restructuring matters, and an active member of the Insolvency Institute of Canada and the Canadian Association of Insolvency and Restructuring Professionals.

Prior to joining A&M, Mr. McIntosh spent 25 years with KPMG, LLP in Canada, where he served as leader of the firm's Canadian restructuring practice for the past seven years.

Alvarez & Marsal Canada ULC

For more than 20 years, Alvarez & Marsal (A&M) has set the standard for working with organizations to tackle complex issues, boost performance and maximize value for stakeholders.

As the leading, independent global professional services firm, Alvarez & Marsal excels at problem solving and value creation. Serving clients ranging from international enterprises to middle market companies to public sector entities, the firm draws on a deep operational heritage and hands-on approach to deliver comprehensive performance improvement, turnaround management and corporate advisory services.

With a team of seasoned professionals based in North America, Europe, Asia and Latin America, the firm provides Turnaround Management services, including Performance Improvement; Turnaround and Restructuring Advisory; Crisis & Interim Management; Creditor Advisory and Claims Management. A&M's services also include: Business Consulting; Real Estate Advisory; Dispute Analysis & Forensics; Corporate Finance; Tax Advisory and Transaction Advisory.

Alvarez & Marsal received the Turnaround Management Association's "Turnaround of the Year" award in 2003 for its work with the Warnaco Group, Inc. and again in 2005 for its work with Spiegel, Inc. The firm has also been recognized for its work with AMERCO (parent of U-Haul) and German drug store chain Ihr Platz, the country's first U.S.-style restructuring.

For more information, visit www.alvarezandmarsal.com.