BDO Forms Debt Advisory Unit

Neil McDaid has joined BDO Stoy Hayward to head up its new debt advisory offering which will sit in its corporate finance team. McDaid was formerly at Barclays where he was responsible for the bank’s UK mid-market corporate syndications group.

The new appointment comes as demand from mid-market private equity firms for specialist debt advisory services rises due to the prolonged illiquidity of the credit markets and the increasing difficulty private equity portfolio companies face in servicing their debts as the UK’s economy falters.

Deloitte, Hawkpoint, Houlihan Lokey and Rothschild all have prominent debt advisory teams. Larger private equity firms have increasingly set up internal specialist debt teams to negotiate with their creditors.

Source: Thomson Merger News