Langford Heads Deloitte Distressed Asset Practice
- Mar 16, 2010
March 16, 2010
By Allison Landa, News Editor
Deloitte has appointed Guy Langford to lead its U.S. distressed asset and debt practice. Langford succeeds Dorothy Alpert, who has taken on the role of northeast deputy regional managing partner.
Langford will oversee Deloitte’s overall strategy and execution of tax, audit, consulting, and financial advisory services across the lifecycle of distressed assets and debt. When his new position was announced, Langford said that a continuation of deleveraging is likely in the next three to five years, adding that that will involve restructurings, recapitalization and ownership transfers that reach beyond commercial real estate into consumer and industrial segments with significant impact on regional community banks, private equity firms, hedge funds, insurance carriers and corporations.
“Lenders, borrowers, and investors are all positioning themselves today to weather the current market and the storms that may lie ahead,” he said, “as well as execute on opportunities that may arise as the cycle of distress works itself through the system.”
Langford will be based in New York and lead a cross-disciplinary national practice that has grown to more than 60 partners, principals, and directors over the last year. He joined Deloitte in Australia in 1989 following his graduation from the University of Melbourne with a bachelor of commerce degree. He joined the U.S. firm in 1994.
In February, Deloitte appointed Robert O’Brien as leader of its U.S. real estate practice. At the time of his appointment, O’Brien said that distressed assets will be a major component of the commercial real estate market in 2010. He also listed REITs and international capital as other major components of this year’s market.