Alvarez & Marsal appoints Pietro Castronovo as Senior Director in Middle East

17 May 2018

Global professional services firm Alvarez & Marsal has enhanced its leadership team in the Middle East with the appointment of Pietro Castronovo as a Senior Director for the firm’s local Private Equity and Principal Investments practice.

Tasked with defining and supervising Alvarez & Marsal’s Professional Development programme for the Middle East region, from the firm’s regional MENA base in Dubai, Castronovo brings to the role over 12 years of strategy, regulatory, and transformation experience in the financial services sector for a variety of leading consultancies across numerous regions, including the Middle East, Southern and Central Eastern Europe, Russia, the U.K. and Ireland.

Castronovo crosses from leading strategy and management firm Bain & Company, where he was Principal after 13 years across its London and Rome offices, prior to which he served as a Public Sector Senior Consultant and an Fast-Moving Consumer Goods Analyst for a year each at big-name firms Ernst & Young and Accenture following a Masters in Economics at Università Bocconi in Milan. In addition to his MBA, Castronovo is a Chartered Financial Accountant.

Primarily focused on the financial services and private equity sectors, Castronovo has throughout his career performed multiple fund strategy, commercial, operations and vendor due diligence projects for both public institutions and large-cap private equity funds and private investors, as well as being previously appointed CEO and a Board Member for a trading company and for a leading consumer credit company in Italy.Pietro Castronovo and Saeeda Jaffa - Alvarez & MarsalAlvarez & Marsal Managing Director for the Middle East, Saeeda Jaffa, herself a former Bain & Company Principal with a PhD in Chemical Engineering from MIT, said of the appointment; “Pietro comes to A&M as a seasoned professional advising clients across different countries. We are delighted to welcome him on board and look forward to working with him as we further cement A&M’s position as the leading professional services firm in the region.”

Operating across four continents, Alvarez and Marsal has grown since its founding in 1983 to more than 50 worldwide offices, including a rising presence in the Middle East and diversified operations beyond the firm’s most well-known expertise in restructuring – including increasing forays into the realm of fintech, with Jaffar, who is a regular international guest speaker on the subject, recently appointed as an independent director of the Executive Board of Bahrain FinTech Bay – a tech innovation initiative supported by global strategy consultancy Roland Berger as a founding partner.

Commenting on the engagement, Jaffar said, “I am very pleased to have been appointed to the board of the Bahrain FinTech Bay. As the largest dedicated fintech hub in the MENA region, it is well placed to apply the financial innovation that is so important for corporates and consumers alike to transact efficiently and securely in a commercial world that is changing at a faster rate than ever before. There is a first class team in place at the Bahrain FinTech Bay and I am honored to join them.”

Carlos Ghosn's daughters get their career starts in strategy consulting

16 April 2019

With the Ghosn affair taking yet another twist, this time concerning allegations in Oman, the world’s media remains gripped.

A highly celebrated figure in Lebanon, the case of ex-Nissan and now ex-Renault head Carlos Ghosn has captivated the media round the world, with his re-arrest and detainment in Japan on further embezzlement charges last week – this time concerning allegations in Oman – delivering the latest twist in the saga. For his part, Ghosn continues to deny the charges, labeling the latest allegations of financial impropriety as “outrageous and arbitrary”.

Much of the media fascination stems from Ghosn’s remarkable story. Born to Lebanese immigrants in Brazil, Ghosn spent much of his youth in Lebanon before moving to Paris to pursue an engineering degree – and in almost no time arriving at the very top of the global automotive industry as a feted turn-around specialist, having rescued both Renault and Nissan from probable ruin. The other factor; a cultivated lifestyle of celebrity glamour.

Front and centre in that image was Ghosn’s young family, including a son Anthony and three daughters – Caroline, Maya and Nadine – who have all grown into their own spotlight in the international business and entrepreneurial worlds. And in line with that A-list background, all three of his daughters got their career starts at the crème de la crème of the strategy and management consulting world; prestigious MBB firms McKinsey & Company and BCG.The Ghosn family affair with the international consulting sector  The eldest Ghosn daughter, Caroline, joined McKinsey in 2007 following a BA in International Relations at Stamford University – before founding professional career network Levo in 2011 with three of her McKinsey associates. Her husband, Nicholas Flanders, CEO and co-founder of carbon reduction tech-company Opus 12, (and former COO of Levo), is likewise an alumnus of McKinsey – serving for three and a half years alongside Ghosn in the firm’s New York office.

Carlos Ghosn’s second daughter got her start at Boston Consulting Group.  A regonised name in luxury fashion as the founder and creative director of Nadine Ghosn Fine Jewelry, her brand counts and Beyoncé and the recently deceased fashion icon Karl Largerfeld among its celebrity clientele. At BCG, Nadine, who also graduated Stamford, served as an associate in the firm’s luxury and consumer goods practice before joining a management programme at Hermès.

Like her eldest sister, Ghosn’s youngest daughter Maya joined McKinsey’s New York office – spending over three years there as an engagement manager before departing in 2016. Maya is now Manager, Housing Affordability for the Chan-Zuckerberg Initiative, founded by Mark Zuckerberg and Pricilla Chan to promote social equality. Incidentally, Facebook’s Sheryl Sandberg, a former McKinsey consultant, has been a mentor to Caroline and also founded, where Maya first started out as an intern.

Carlos Ghosn’s son Anthony – who has now been embroiled in his father’s affair with accusations of money being funneled via Oman toward his financial services start-up, Shogun (where he is CEO but has not been accused of any direct involvement) – didn’t get his break at an MBB, but his step-brother, Anthony Marshi, the son of Carlos Ghosn’s second wife Carole Nahas, is a partner with BCG in New York according to French newspaper Le Figaro.