Turnaround: The Americans Are Coming!!!!

Tenon Recovery has hosted a successful Southern Regional Turnaround Management Meeting (TMA) at their offices in Chandlers Ford, Hampshire.

(PRWEB) July 19, 2003 -- Around 50 local professionals/financiers, including visitors from London and further a field, were privileged to listen to the experiences of one of the worlds leading turnaround practitioners. The audience was addressed by Vincenzo Morelli, Senior Executive of the American leading firm Alvarez Marsal, who is currently based in Europe and has responsibility for their Global Equity Sponsor Support Group.

Vincenzo explained that the American re-habilitation" culture and approach to business turnaround had growing momentum within the UK and Europe and that many of the restructuring approaches and techniques adopted in the United States were being increasingly applied to European corporate crises.

Vincenzo presented several high profile turnarounds, which he had managed in his 25-year management career prior to joining Alvarez and Marsal, as well as smaller cases highlighting the need to understand strategic, operational and cultural issues in a turnaround.

Paul Burke, Southern Region Committee Member of the TMA and Director at State Securities, said: The evening was an ideal opportunity for us to meet local like-minded businesses in the area who are keen to develop and maintain companies stability and profitability. Vincenzos inspirational speech demonstrated the value that turnaround professions can offer to businesses that may be suffering financial hardship".

Carl Jackson, Senior Partner of Tenon Recovery, expressed his thanks to Vincenzo for an enlightening presentation saying, This was a great chance to listen to one of the worlds leading practitioners on Turnaround and understand how the critical issues in dealing with a turnaround can be managed and exploited to generate stakeholder value."

-ENDS-

Notes to Editors :
Contact :
Jo Macklin
State Securities
Jellicoe House
Botleigh Grange Office Campus
Hedge End
Southampton
SO30 2AF
Tel :       01489 775600
Fax :       01489 775601
Email :    jmacklin@statesecurities.plc.uk

Presentation notes and logos available on request.

State Securities assists business customers who are looking to raise finance for the acquisition of new or used assets, along with the re-financing of assets already owned by the business. It also provides commercial mortgages for properties such as factories, warehouses, offices and retail outlets.

State Securities works with a wide range of clients, including public and private limited companies, partnerships and sole traders, and it helps companies that have difficulty in raising finance in a short period of time, for example new start businesses and businesses in corporate or individual voluntary arrangements.

State Securities has over 20 years experience in the asset financing market and is part of the Abbey National Group.