Global professional services firm Alvarez & Marsal has formally opened for business in Bermuda after securing its licence to operate on the island, marking an expansion driven by client demand in the jurisdiction.

The firm said it expects to make five senior hires locally in the coming months as it builds out its Hamilton-based team. The Bermuda practice will be led by managing director Joseph Gordon, an insolvency practitioner with more than 20 years’ experience in restructuring, advisory, forensic investigations and corporate finance.

A&M said the Bermuda office will be backed by its global platform of more than 12,000 professionals across 90 offices in over 40 countries, with close links to its London and New York hubs as well as offshore specialists across the Caribbean and Atlantic.

The firm’s Bermuda offering will focus on two main areas: restructuring and insolvency, and insurance and risk advisory.

In restructuring and insolvency, A&M said it brings experience in offshore and cross-border engagements, including work with insurers, hedge funds, private equity firms and complex corporate structures. Its services include independent business reviews, liquidity and contingency planning, creditor and stakeholder management and formal appointments in relevant jurisdictions.

On the insurance and risk advisory side, the firm supports insurers, reinsurers, captives and corporate insurance buyers with capital optimisation, risk governance, regulatory readiness and operating performance improvements.

Mr Gordon said the firm was keen to work closely with the local market.

“I’m excited to support Bermudian-based clients and to bring A&M’s deep bench of expertise to the island,” he said. “Our team is committed to partnering with the market on its most complex matters — whether in insurance and risk advisory, cross-border restructuring or contentious situations — to help strengthen outcomes for clients and the jurisdiction.”

Strategic oversight of the Bermuda practice will be provided by managing director Alex Lawson, who has led a number of offshore restructuring and cross-border mandates internationally.

Mr Lawson said Bermuda’s role as a global insurance and capital hub made a local presence essential.

“Establishing a local presence enables A&M to bring our hands-on execution model to the market,” he said. “With new hires on the ground and full access to our offshore, London and New York teams, we’re well positioned to help clients tackle complex restructuring, valuation, regulatory and performance challenges.”

The firm will occupy office space on the first floor of 48 Reid Street.

In addition to its core pillars, the Bermuda practice will also offer disputes, investigations and forensic services, valuation and advisory and transaction advisory, delivered in collaboration with A&M’s global network.