Alvarez & Marsal Holdings, LLC (A&M) is a global professional services firm notable for its work in turnaround management and performance improvement of a number of large, high-profile businesses both in the US and abroad such as Lehman Brothers, HealthSouth, Tribune Company, Warnaco, Interstate Bakeries, Target, Darden Restaurants and Arthur Andersen.

Bryan Marsal was reportedly one of the first people contacted by Harvey R. Miller on hearing that Lehman Brothers was likely to need to file for Chapter 11 protection, receiving a call at 10:30 at night on September 14 while he was watching a football game.

Lehman Brothers was left with about 20 employees following its failure and sale of units to Barclays and Nomura Holdings[8] and subsequently appointed a number of Partners and staff from Alvarez & Marsal to serve as interim executives for the bankrupt bank.

Competitors have suggested that Alvarez & Marsal has considered its own business objectives while restructuring failing companies, pointing to a deal with Enron Corp.'s accounting firm, Arthur Andersen as an example.

[15] In December  2024, Alvarez & Marsal’s profits dipped after it had offered £1 million pay deals to attract staff from major accounting firms.