A&M moves to Vienna

Alvarez & Marsal has opened an office in Vienna and hired Bernhard Engel, formerly CEO of AxFina, to lead on the ground.

The new office is a bid to expand the firm’s Central and Eastern European presence, with Antonio Malvarez III, managing director and EMEA practice lead, saying it “represents the next piece of the puzzle in DACH”.

He added: “Welcoming Bernhard to the team will be integral to the firm’s CEE expansion.”

In addition, the company stated that the expansion is designed “to respond to growing demand in the region for performance improvement, balance sheet optimisation and M&A”.

Engel was previously CEO of AxFina, as well as FS industry and deals leader at PwC. In his time at the consulting firm, he built up its deals business across Austria and CEE.