Global advisory firm Teneo has expanded its services in the Middle East with the launch of its Financial Advisory practice.
With around 1,500 employees working from 25+ offices worldwide, Teneo is one of the globe’s larger consulting firms. Around 350 of the firm’s staff work in the Financial Advisory business, with the division now adding the Middle East to its existing footprint in North America, Europe, Asia Pacific and the Caribbean.
“The Middle East represents a significant opportunity for our business and we look forward to continuing to grow our regional team and offering in the months ahead,” said Daniel Butters, CEO of Teneo’s Financial Advisory business.
One of Teneo’s five main divisions alongside Management Consulting, Risk Advisory, Talent Advisory, and Communications Advisory, the Financial Advisory wing advises clients on topics including mergers & acquisitions, transactions, capital raisings, restructuring, insolvency, and litigation support.
In the Middle East, the division will initially focus on restructuring and turnaround services. To setup the offering, Teneo has hired two senior and well-known practitioners in the region’s scene: Matthew Wilde and Elie Fakhoury.
Wilde joins from AlixPartners, where he led the firm’s Restructuring practice. Before that, he led the Restructuring and M&A teams of PwC, where he was a partner and worked for two decades. During this period, he also held a number of independent Chief Restructuring Officer roles.
Wilde’s track record includes working on the restructurings of Arabtec, NMC Healthcare, Al Jaber, Saudi Oger, Dubai World, DryDocks World and OW Bunker, among many other projects.
Fakhoury also joins from AlixPartners, and brings over 15 years of experience in the region to the firm. He specialises in turnaround and restructuring services, having planned and led both large-scale turnaround programs as well as operational improvement and balance sheet restructuring projects for a broad range of clients including The Abraaj Group, Arabtec, and JBF RAK.
“We are excited to have such an experienced duo join us in the Middle East,” said Nick McDonagh, Senior Managing Director and Head of Teneo in the region. “Their industry reputation and operational and financial advisory expertise will add another layer of sophistication to our integrated offering.”
Over the past year, Teneo has significantly bolstered its Financial Advisory practice through two acquisitions. Early 2022, the firm bought the restructuring arm of KPMG in the Cayman and British Virgin Islands, and in 2021, Teneo purchased the restructuring business of Deloitte in the United Kingdom.
Commenting on the move, Wilde said: “To be joining such a dynamic and fast-growing business as Teneo is incredibly exciting. I am looking forward to combining our restructuring and financial advisory experience with Teneo’s market leading strategic and financial communications, management consulting and risk advisory capabilities.”
In the Middle East, Teneo has offices in the UAE (Dubai), Qatar (Doha), and Saudi Arabia (Riyadh).
Sourced from Consultancy.me