Alvarez & Marsal eyes Pakistan office amid regional expansion strategy
Global professional services firm Alvarez & Marsal is exploring the establishment of a dedicated office in Pakistan, as part of its commitment to playing a central role in the country’s ambitious privatization programme and broader economic reform agenda.
Alvarez & Marsal, founded in 1983 and headquartered in New York, has built a reputation as a global leader in services such as restructuring & turnaround, performance improvement, business advisory, mergers & acquisitions, and more.
With offices in around 40 countries, the consulting firm has over the past decade steadily expanded its footprint in Asia, with Pakistan now the latest country to draw its interest.
The firm’s interest in Pakistan was highlighted during a meeting in Islamabad this week between senior Alvarez & Marsal executives and Pakistan’s Federal Minister for Finance and Revenue, Muhammad Aurangzeb. The delegation included Peter Briggs, Abdalla ElEbiary, and Reza Baqir, a former governor of the State Bank of Pakistan.
During the discussions, Briggs confirmed that the consultancy is actively considering opening an office in Pakistan, citing the country’s “growing market and significant opportunities for long-term investment and growth.” He noted that a local presence would allow Alvarez & Marsal to better support the government in attracting global investors and in executing its privatization strategy.
Privatization at the forefront
The Pakistan government is pressing ahead with plans to privatize more than 50 state-owned enterprises (SOEs) within the next four years, a move designed to alleviate fiscal pressures and improve the performance of public entities. Already, 24 SOEs – including several power distribution companies – have been placed in the privatization pipeline.
In February, Pakistan signed a financial advisory agreement with Alvarez & Marsal to advance the divestment of three major power distributors. The move was seen as a critical step in reforming a sector plagued by circular debt, inefficiencies and widespread losses.
Finance Minister Aurangzeb welcomed Alvarez & Marsal’s interest in expanding its presence in Pakistan, pointing to macroeconomic progress achieved in the past 14 months. He highlighted renewed investor confidence, citing both foreign and domestic commitments, including a major maritime sector investment recently announced by global shipping giant AP Moller Maersk.
A regional growth strategy
For Alvarez & Marsal, Pakistan represents not just a new market but a natural extension of its regional strategy. The firm has been deepening its presence across Asia, where governments are pursuing wide-ranging economic reforms.
Establishing an office in Pakistan would give Alvarez & Marsal a foothold in South Asia’s second-largest economy, strategically located within the China-Pakistan Economic Corridor and at the crossroads of trade routes linking the Middle East, Central Asia and beyond.
