The team, headed up by Julian Warbrick, will provide a workout advisory service to private equity houses to maximise value on assets within their loan portfolios. This service sits alongside traditional corporate recovery work acting as LPA receivers and providing strategic advice to banks and insolvency practitioners.
Plans to further expand the team
The Manchester team works closely with colleagues in the broader LSH business to provide clients with a comprehensive solution, for example where enforcement is undertaken on loan sales such as Project Thames, the loan sale by Lloyds Banking Group to Cerberus. The bulk of assets in these portfolios are regional and secondary, so the new Manchester team is well placed to advise. As well as Julian Warbrick and Brendan Donnelly, Associate Director, there are already plans to expand the team further.
Regionally connected to service clients on a national level
Julian Warbrick, head of the national Corporate Recovery team at LSH said: “Where market interest in an asset is regional, a strong team on the ground, connected to the regional markets is the best choice to maximise value. Our national team has a proven record in the banking sector with a clear understanding of client needs. The Countrywide network and strength of LSH regional market intelligence and access to our full service offering such as Building Consultancy and Agency - adds great value to the expanding national and regional requirement.
“We’ve advised on £25bn of loan sales to date, national and local, so this is a logical extension of this service.”