Alvarez & Marsal Plans Australian Expansion as Rising Rates Bite.

US advisory firm Alvarez & Marsal Inc. plans to expand its presence in Australia by hiring 500 people across three business lines - financial due diligence, performance improvement, and tax - by mid-2025. The decision to expand is driven by client demand and the opportunity to grow in a market dominated by big accounting firms and management consultants. The firm expects rising interest rates and subdued economic growth to lead to more companies facing financial difficulties, creating a need for their services. Alvarez & Marsal has a track record of handling major corporate crises and is optimistic about the deal market in Australia. [Extracted from the article]