Global CEO advisory firm Teneo is today launching a new global restructuring business after the completion of its acquisition of the Restructuring Services business of Deloitte UK.
The move marks the latest phase of the company's ongoing expansion.
Teneo's new restructuring business will include over 300 specialists across Europe and the US and it will focus on four key service areas - business transformation, restructuring, capital advisory and bankruptcy and insolvency.
Daniel Butters, formerly head of UK Restructuring Services at Deloitte, will become CEO of Global Restructuring for Teneo.
Teneo also said today that its global Restructuring business is expanding its offering into the Irish market.
Damien Murran is set to join the firm to build its restructuring capabilities in Ireland, working alongside Teneo's existing Irish operations.
Mr Murran was most recently a Partner within RSM's Transaction Advisory Services team and headed their Irish restructuring and recovery services.
Meanwhile, Michael Madden, who was most recently the Chairman of Teneo's Capital Advisory business, has been appointed Chairman of the US Restructuring business where he will work in close partnership with Mr Butters to further expand the firm's capabilities in that market.
Mr Madden will also become a Vice Chairman of Teneo globally.
Declan Kelly, Chairman and CEO of Teneo, said the company was delighted to formally welcome its new colleagues from Deloitte as Teneo launches its global Restructuring business.
"This offering will deliver significant synergies with Teneo's broader advisory services as we continue to grow in key markets around the world," Declan Kelly said.
The Restructuring team will provide strategic counsel to clients including corporate leaders, shareholders, lenders, pension trustees, governments, and other financial stakeholders, as they navigate periods of financial and operational underperformance or stress, safeguard value, and address structural and cyclical volatility.
News of today's expansion lifts Teneo's global headcount to more than 1,200 employees.
