Alvarez & Marsal hires managing director for new transaction advisory

The TAG unit is part of Alvarez & Marsal's pan-European business and will be run in addition to the firm's established business lines of restructuring, performance improvement (PI) and global forensic and dispute services (GFD) in Germany.

The firm said it opened the unit in response to demand from European M&A investors for a differentiated due diligence offering, which combines financial accounting, tax and operational due diligence services.

Adrian Balcombe, managing director and head of A&M's European Transaction Advisory Group, said: "Germany is the obvious next step as it is currently at the forefront of European M&A, and we expect the environment for deals to improve further in the months ahead, particularly given German bank exposure to real estate and increasing private equity interest in buying bank assets."

Zapf joins Alvarez & Marsal from Ernst & Young, where he spent 20 years and was a partner and co-founder of the transactions department in Munich. Zapf has advised both buy-side and sell-side clients. His expertise includes retail and consumer goods, automotive, biotech and real estate.

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