April 27, 2023
The practice will provide access to world-class experts and be led by newly appointed Senior Managing Directors, Karim Labban and D. Geraint Thomas
Ankura Consulting, LLC (“Ankura”), a leading global expert services and advisory firm, today announced the launch of its Turnaround & Restructuring practice in the Middle East. This latest launch marks another important step in the firm’s strategic growth and is a testament to the firm’s commitment to providing clients access to independent expert and advisory services with local, highly experienced, and best-in-class teams with a global reach.
With an office in Dubai and the recent launch of Ankura’s Riyadh office last year, the expansion of our Turnaround & Restructuring practice in the region bolsters the firm’s service offerings in the Middle East at a time where clients are facing increasing economic and geopolitical uncertainties around the world. Drawing from a team of renowned global experts, the Turnaround & Restructuring practice will provide international and local clients with trusted advisors to help facilitate financial restructurings and operational transformations and affirms our commitment to the EMEA market following the launch of our European Turnaround and Restructuring practice in 2021.
The practice will be co-led by Senior Managing Director, Karim Labban and Senior Managing Director, Geraint Thomas, who will be based out of the Riyadh and Dubai offices, respectively. Labban is a reputable and long-standing advisor for Turnaround & Restructuring in the region, having previously led a Middle East Turnaround & Restructuring team at another consultancy and having managed a series of complex restructuring deals in the region across various sectors. Thomas brings 23 years of complementary experience working with boards, management teams and stakeholders in turnaround, transformation, and restructuring situations. During this time, Thomas has acted as an operating partner, investment director, board member and Chief Restructuring Officer and Chief Financial Officer across a wide range of industries, including aviation and construction. At Ankura, they will support clients domestically and throughout the region.
Ben Jones and Roy Gallagher, Global co-leaders of Ankura’s Turnaround and Restructuring Practice, said: We are pleased to welcome Karim and Geraint, who each bring an immense amount of experience and expertise to the firm and our practice. We are confident that our team in the Middle East will build on our stellar global reputation, bolstering our reach and ability to advise key clients as they navigate complex challenges.”
Simon Michaels, Chairman for EMEA and APAC at Ankura, commented: “The Middle East is an important market, and the addition of this latest practice in the Middle East demonstrates our commitment to bolster our footprint in the region.”
“It’s a unique opportunity to be able to join this renowned and global turnaround and restructuring team at such a crucial juncture for many companies across the region and the world. I look forward to building out a strong, highly experienced team that clients will come to unequivocally trust and rely on during critical moments,” said Karim Labban, Senior Managing Director in Ankura’s Turnaround & Restructuring practice.
“I am delighted to be joining Ankura during such a dynamic period of both opportunity and growth in the Gulf. I have no doubt that we will see significant interest from our client base in accessing our know-how and expertise – which Ankura is known for around the world.” added Geraint Thomas, Senior Managing Director in Ankura’s Turnaround & Restructuring practice.