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Arrival of US-backed alternative lenders prompts expansion of Deloitte’s UK Debt Advisory team

16 December 2014

As US institutional lenders target European corporates and CFO risk appetite in the UK sits at a seven year high, Deloitte has significantly expanded its debt advisory team. Recruiting seven new hires in recent months in the UK, the team has also announced closer cooperation with Deloitte Corporate Finance LLC’s (“DCF”) expanding US Capital Advisory Services Group.

Fenton Burgin, and head of UK debt advisory commented: “Improving risk appetite is being supported by a resurgent US economy, good UK growth and plentiful lender liquidity. Despite ongoing economic and financial uncertainties, a wide range of bank and new institutional lenders, including private wealth, pension funds and alternative asset based managers, are actively targeting UK mid-cap companies.”

Burgin continued: “In the US, banks finance less than one-quarter of mid-market business capital, and as banks here face higher capital and regulatory requirements, Europe is heading that way. Significant investment in Deloitte’s market leading debt advisory offering reflects this, and greater cooperation with our US colleagues will enable us to track US lenders as they pursue European lending opportunities.”

Among the new hires, Alex Dugay joins Deloitte from Clydesdale Bank as an assistant director, while DCF in the US recently hired Vin Batra as a managing director to focus on debt advisory and restructuring. Batra has more than 15 years of investment banking and financial advisory experience, previously working at Alvarez & Marsal Securities LLC, Lehman Brothers and Arthur Andersen.

Batra will work alongside DCF’s Capital Advisory Services Group led by John Deering, managing director. The group provides strategic advice to a wide range of mid-cap US companies to help optimize capital structures and access available sources of finance.

Commenting on the greater cooperation with the UK, John Deering, managing director, DCF, said: “The UK is at the forefront of the development of a European alternative lender market and we are delighted to be working more closely with our UK colleagues. Increasing numbers of US mid-cap investors are looking to diversify their portfolios. Whilst they remain concerned about the wider European backdrop, the UK is seen as an attractive market given its improving economy and strong ties to the US where a wide range of alternative lenders already provide flexible capital for mid-cap companies.”

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Notes to editors

In this press release references to Deloitte are references to Deloitte LLP, the United Kingdom member firm, which is among the country's leading professional services firms.

Deloitte LLP is the UK member firm of Deloitte Touche Tohmatsu Limited (“DTTL”), a UK private company limited by guarantee, whose member firms are legally separate and independent entities. Please see www.deloitte.co.uk/about for a detailed description of the legal structure of DTTL and its member firms.
Deloitte Corporate Finance LLC, an SEC registered broker-dealer and member of FINRA and SIPC, is an indirect wholly-owned subsidiary of Deloitte Financial Advisory Services LLP and affiliate of Deloitte Transactions and Business Analytics LLP. Investment banking products and services within the United States are offered exclusively through Deloitte Corporate Finance LLC. For more information, visit www.investmentbanking.deloitte.com. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.

The information contained in this press release is correct at the time of going to press.

Member of Deloitte Touche Tohmatsu Limited

Will Black
Deloitte LLP
+44 (0) 20 7007 8242
+44 (0) 7825 113 222
wiblack@deloitte.co.uk

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