US-headquartered professional services firm Alvarez & Marsal has appointed Suman Jagdev as senior director for its recently-launched corporate solutions practice.
Jagdev will head the company’s automotive and industrial sectors with a focus on transaction advisory and performance improvement.
“Given the Indian auto industry is one of the largest in the world, we see immense potential and opportunities for growth,” Manish Saigal, managing director, Alvarez & Marsal India, was quoted in a press statement. “Suman’s hire demonstrates our commitment to provide clients with exceptional operations and transformation solutions that help drive change and create value.”
“I look forward to working with A&M’s automotive and industrials clients to strengthen the performance of their holding companies, affiliates and portfolio businesses,” Jagdev said in a statement issued by the firm.
An alumnus of Birla Institute of Technology and Science, Pilani, and Xavier Institute of Management, Jagdev was a director with Pricewaterhouse Coopers, where he served as an advisor to automotive and industrial equipment companies on market entry, and growth and revenue enhancement programmes.
He worked closely with companies across passenger vehicles, commercial vehicles and auto components to address strategic issues aimed at achieving sustainable business performance.
A veteran of about 15 years, Jagdev had also held different positions at Accenture Management Consulting and Deloitte Touche Tohmatsu India. At Deloitte, he was part of its global innovation network, tasked with developing new advisory services.
“With the new guidelines on bankruptcy code, many consulting firms, which are working in the field of turnaround and strategic planning and management, are increasing their bench strength to cater to this new class of work,” said a director from one of the big four accounting firms.
“Apart from KPMG, PWC, Deloitte and EY many foreign as well as domestic boutique firms are competing in the sector along with law firms, including AZB Partners, Shardul Amarchand Mangaldas and DSK Legal,” he added.
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