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Deal doctors: You're hired

 


The Deal | July 12, 2016


The Deal article, “Deal doctors: You're hired,” quoted Russell Reynolds Associates' Rebecca Glasman. She spoke about how hiring is on the upswing at turnaround firms and investment banks. The article is excerpted below.​

Rebecca Glasman, consultant at executive search firm Russell Reynolds Associates, says advisory firms are on the hunt for seasoned restructuring professionals. It's time for restructuring professionals to dust off their best interview outfits - hiring is on the upswing in the industry. Rebecca Glasman, a consultant at executive search firm Russell Reynolds Associates Inc., said turnaround firms and investment banks are "starting to ramp up" their restructuring teams as they brace for a potential increase in bankruptcy activity.

"The firms don't want to be caught shorthanded if there's an increase in filings, which we haven't seen for much longer than usual," she said.

According to Glasman, an uptick in hiring is likely to occur in New York, Chicago and Houston - New York because it is a financial hub and Houston thanks to its connection to the energy industry. Chicago, albeit smaller, is the Midwest financial hub and has a concentration of restructuring professionals, according to Glasman.

With industries such as energy and retail struggling, it's little surprise that there is a void that needs to be filled with professionals with restructuring expertise.

Glasman said firms mainly are looking to hire "senior people with relationships in the market."

As far as compensation, paychecks for restructuring professionals will trend upward in the down cycle.

"Restructuring bankers live in cycles," she said. "They get paid in the up cycle because there is going to be a down cycle."

To read the full article, click here.

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Deal doctors: You're hired