Alvarez & Marsal Expands Strategy Consulting Hiring

Alvarez & Marsal (A&M) is strengthening its position in strategy consulting and corporate transformation by recruiting senior professionals from rival consulting firms. Traditionally recognised for restructuring businesses in financial difficulty, the firm is increasingly competing for work in strategic advisory, business transformation and artificial intelligence (AI).

Over the past year, A&M recruited 33 managing directors from rival firms, including McKinsey & Company, Bain & Company, Boston Consulting Group and Oliver Wyman. This was nearly double the 17 managing directors it recruited in 2024. Across Europe, the firm added 100 managing directors, drawing talent from major accounting firms and industry.

The recruitment drive reflects A&M’s efforts to expand its senior leadership and strengthen its ability to advise companies on complex business challenges.

Expanding Beyond Restructuring

A&M has traditionally built its reputation on restructuring, turnaround management and improving business performance. These services help organisations address financial pressure, improve operations and restore profitability.

However, companies increasingly seek consulting partners who can support wider strategic priorities, including business transformation, operational efficiency and growth. A&M’s expansion into these areas places it in more direct competition with established strategy consulting firms.

Hiring experienced managing directors can help the firm strengthen client relationships, bring specialised industry knowledge into its teams and develop new business opportunities. Senior consultants can also help organisations translate strategic plans into practical changes across their operations.

The expansion comes as businesses face pressure to improve productivity, manage costs and respond to technological changes while maintaining long-term growth.

AI Becomes a Key Growth Area

Artificial intelligence is another important part of A&M’s expansion plans. The firm is planning to recruit 20 AI managing directors and establish an AI laboratory in Spain.

The proposed investment follows approximately 65% growth in the firm’s digital services revenue. The focus on AI points to a broader shift in consulting, where clients increasingly expect advisers to connect technology investments with measurable business outcomes.

For consulting firms, AI-related work can include identifying suitable use cases, redesigning workflows, improving decision-making and helping organisations implement new technologies. These projects require a combination of technical expertise, industry understanding and change-management capabilities.

A&M’s planned recruitment and AI laboratory are intended to strengthen its ability to serve clients in this evolving market.

Growth and Financial Performance

A&M’s European business reported revenue of €831 million in the previous year, while pre-tax profit declined from €227 million to €195 million. UK and European revenues were approaching €1.4 billion, while global revenue exceeded $5 billion.

The firm is targeting global revenue of $8 billion by 2028. Achieving that ambition will require continued business development, successful recruitment and the ability to convert its broader service offering into sustained client demand.

A&M employs nearly 1,700 people in Britain and is seeking to expand its work with FTSE 100 companies and other publicly listed businesses.

What It Means for the Consulting Industry

A&M’s recruitment strategy highlights the competition for experienced consulting leaders as firms broaden their services beyond traditional advisory work. Senior professionals bring established client relationships, sector expertise and the ability to lead large transformation programmes.

At the same time, the planned investment in AI reflects growing demand for advisers who can connect business strategy with technology implementation.

For A&M, the challenge will be to turn its growing leadership team and expanding capabilities into sustainable revenue and profitability. Its next phase of growth will depend on how effectively it combines strategic advice, operational execution and technology-led transformation.