A&M Case Management Services vs Restructuring
I've noticed that the A&M restructuring division divides into 2 sections: Case Management Services (CMS) and Core Restructuring. It looks like CMS tend to focus specifically on Chapter 11 and 7 bankruptcy processes, while Core focuses more on turnaround aspect, prior to filing. Does anyone have anymore insight into what each group does? Are the groups viewed differently when it comes to potential exit opportunities? Does the pay differ? Is it possible to move in between groups?
Thanks!
Based on the most helpful WSO content, here's what you need to know:
Case Management Services (CMS): This group primarily focuses on Chapter 11 and Chapter 7 bankruptcy processes. Their work involves assisting with bankruptcy filings, managing the procedural aspects of bankruptcy cases, and ensuring compliance with legal and financial requirements during the bankruptcy process.
Core Restructuring: This group is more focused on the turnaround aspect of restructuring, often working with companies prior to filing for bankruptcy. Their work includes operational improvements, cash flow forecasting (e.g., 13-week cash flow models), business plan development, and liquidity management to stabilize and improve the financial health of distressed companies.
Exit Opportunities:
Pay Differences: While specific pay structures for CMS vs. Core Restructuring aren't explicitly detailed, A&M's compensation model is heavily tied to billable hours and performance. Both groups likely follow this structure, but the nature of the work (e.g., longer bankruptcy cases in CMS vs. potentially more dynamic projects in Core) could influence total compensation.
Mobility Between Groups: While not explicitly mentioned, A&M is known for its entrepreneurial culture, which rewards high performance and hard work. This culture might allow for some flexibility in moving between groups, especially if you express interest and demonstrate the necessary skills.
If you're considering a role in either group, think about your long-term career goals and the type of work that excites you most. Both groups offer strong opportunities, but the focus and exit paths differ slightly.
Sources: How is A&M perceived in the industry?, Alvarez and Marsal -- Restructuring and Turnaround Consulting, Thoughts on Restructuring Groups?, Q&A: Restructuring Consulting, Alvarez & Marsal Restructuring
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Core restructuring is the better opportunity. Case administration in bankruptcy sucks, its majority admin and reporting work.
Hey man, interned at A&M this past summer. A&M NACR is split between a couple segments (the ones you mentioned) with an additional group that does UCC. CMS tends to be more of the filing stuff (think First day motions for bankruptcies). Would echo what RCJ92 said above. Core restructuring work tends to be more engaging. You tend to stay staffed on one specific company for around a year before moving on to your next engagement versus the CMS people that can be split across a couple of engagements at a time.
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