Alvarez & Marsal expands Milan restructuring practice with two senior hires

Alvarez & Marsal, a global restructuring and advisory firm, has named Francesco Leone and Claudia Lotti as Managing Directors and Co-Heads of its Financial and Operational Restructuring practice in Italy, according to Consultancy.eu. Both executives bring significant experience in Italian corporate turnarounds and operational recovery. Leone previously served as Italy Country Head for Corporate Finance & Restructuring at FTI Consulting and held the rank of Managing Director and Partner at Boston Consulting Group in its Milan office.

The appointments reflect growing demand for restructuring expertise in Italy as economic pressures mount. Milan remains the financial and corporate headquarters of much of Italy's industrial base, and the city's market for advisory services on insolvency, operational recovery and debt restructuring has expanded as the eurozone navigates persistent economic headwinds. International firms have steadily expanded their Italian practices over the past two years, recognizing both the scale of the Italian market and the complexity of navigating Italy's bankruptcy and restructuring frameworks.

Alvarez & Marsal's move to strengthen its Milan practice follows a broader pattern of investment by global restructuring firms in Italy. The firm joins competitors including Deloitte, EY and KPMG in building dedicated Italian teams focused on corporate turnarounds. For Milan-based companies and their creditors, the expansion of such practices typically signals easier access to specialized advice on debt restructuring, operational efficiency and strategic repositioning—services that have become increasingly sought as supply chain disruptions, energy costs and financing pressures weigh on Italian manufacturers.