Jonas Rickardsson and Dan Andersson join A&M Nordics

Alvarez & Marsal has added two new Managing Directors in the Nordics. Jonas Rickardsson and Dan Andersson both join the firm’s Restructuring practice.

The duo both bring extensive experience in restructuring advisory to the firm. Rickardsson, appointed Head of Financial Restructuring for the Nordics, is based in Alvarez & Marsal’s Stockholm office (launched in 2017), while Andersson is based in the recently launched Oslo office and has been appointed Head of the Nordic Operational Restructuring unit. 

“Bolstering our capabilities in the Nordics is part of our strategy to solidify our market-leading financial restructuring offering across Europe. The experience of Jonas and Dan will help our clients create value and drive growth,” said Paul Kirkbright, the Head of Alvarez & Marsal’s Financial Restructuring Advisory practice for the EMEA region.

Before joining the consulting firm, Rickardsson was responsible for Financial Restructuring at EY, where he specialised in delivering focused, situation-specific business reviews. Before that, he spent over a decade at PwC, four years at fellow Big Four firm Deloitte, and in between he served Swedish corporate finance boutique ScandCap.

During his career, Rickardsson has advised lenders, owners and management teams in stressed and distressed situations across a range of industries.

Andersson re-joins Alvarez & Marsal having previously served the firm for nearly two years. Since then, he led a boutique Nordic restructuring advisory firm, held interim executive roles and worked as a leader for an automotive company. Most recently, he was Head of Restructuring and Turnaround in Finland and CRO Services in the Nordics. At the Big Four firm, he led multiple turnarounds and refinancing rounds.

Against a backdrop of growing distress in the business environment amid the Covid-19-induced crisis, Alvarez & Marsal is ramping up the headcount of its Restructuring practice. Last month the firm launched its Restructuring service offering in Switzerland, and next month the consultancy is also bringing its practice into the Spanish market. “We are working towards positioning restructuring leaders across all European countries,” said Kirkbright. 

In related people news, earlier this year Bain & Company appointed five new partners in the Nordics, shortly after the strategy consultancy acquired local player Qvartz to leapfrog its arch-rivals McKinsey and Boston Consulting Group in Scandinavia in terms of headcount.