The ranks of senior restructuring and insolvency talent at Deloitte continue to be thinned with the news yesterday that NSW turnaround and restructuring group leader Jason Tracey will defect to American heavyweight Alvarez & Marsal (A&M).
The Australian Financial Review (AFR) reported that Tracey, who’s been with Deloitte for more than two decades, has resigned from the Deloitte partnership and will be appointed A&M’s Australian restructuring leader, though iNO understands the timing of the appointment is to be confirmed and will depend on the resolution of exit clauses.
Also reportedly defecting to A&M is Melbourne-based partner Glen Kanevsky, Grant Sparks in Queensland and West Australian-based Sean Holmes.
If the moves are reapplied it would represent a significant undermining of the ranks of senior restructuring experience at Deloitte, which lost insolvency elder Vaughan Strawbridge to FTI Consulting in 2021.
A&M, which has been quietly establishing various professional services units since its arrival in Australia two years ago appears to have decided it’s time shakeup the senior ranks of the local insolvency and restructuring profession.
No doubt the heads of PwC, KPMG, EY, FTI, McGrathNicol and KordaMentha are wondering who among their registered liquidator ranks are also learning to speak Noo Yawka.
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