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AlixPartners boosts Mideast headcount

Restructuring firm thrives amid corporate slump

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Turnaround and restructuring firm AlixPartners is boosting its headcount in the Middle East as corporates seek to cut costs and restructure debt amid the double shock of low oil prices and the coronavirus pandemic.

The New York-headquartered firm has recently hired six people in Dubai from one of its competitors and is looking to hire eight to 10 more restructuring specialists next year, Reuters reported, citing a Dubai-based managing director.

The firm now has around 40 people working in the region, where its main focus is the United Arab Emirates and Saudi Arabia.

AlixPartners expects more business to come from firms in oil services, real estate and construction, commercial aerospace, healthcare and consumer retail. In Dubai in particular, requests for financial advice from companies in the tourism and hospitality industry have increased, the company said.