BrazilPwC promotes four to Director in its Restructuring practice
PwC has promoted four members of its Restructuring practice to Director level.
Part of a global intake of 45 new partners and directors in the Restructuring business, the Middle East business of PwC has seen Ahmad Kobeissi, David Fisher, Thomas Olden and Nick McGlinchey make the step up from Senior Manager to Director.
Closing in on his 10-year anniversary at PwC, Ahmad Kobeissi has been with the firm since 2015, previously serving KPMG and Baalbaki Group in Lebanon, where he grew up and completed his studies. Kobeissi is currently based in the UAE.
David Fisher has similarly been with the Big Four firm for around a decade, working across its offices in the UK and Middle East. He currently is based out of the Dubai office.
Thomas Olden previously worked for several counterparts – BDO, EY and EY-Parthenon in the UK and Australia – before he crossed to PwC’s Middle East business early 2021. He too is based in Dubai.
This month celebrating his 6-year anniversary at PwC, Nick McGlinchey works for clients across the region, operating out of Dubai. He grew up and worked in Scotland, among others at KPMG, before he relocated to the Middle East five years ago.
“We are proud to welcome Ahmad, David, Thomas and Nick into our leadership team. They are passionate and focused on delivering the highest quality of client service across the stressed and distressed restructuring market,” stated PwC in a post on LinkedIn. “Their combined focus on strengthening trust in society and creating sustained outcomes for shareholders, stakeholders and consumers is world class.”
Landmark deal in the UAE
The promotions come hot on the heels of PwC closing one of its largest restructuring engagements in years. The firm acted as the lead Financial Advisor to Davidson Kempner and other financial creditors on the successful closing of the $1 billion+ debt restructuring of JBF Group, a producer of polyester resins and packaging films, with manufacturing plants in the UAE, Bahrain and Belgium.
The transaction is believed to be the first significant debt-for-equity transaction of this kind executed under the UAE’s onshore bankruptcy law. “The successful conclusion of this pioneering deal is a testament to our ability to support and deliver optimal restructuring and turnaround solutions to our clients,” said PwC.
