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Houlihan Lokey’s Financial Restructuring Group Launches Sovereign Advisory Practice

David-Alexandre Gadmer Joins as a Managing Director and Head of Sovereign Advisory

NEW YORK and PARIS — April 17, 2024 — Houlihan Lokey, Inc. (NYSE:HLI), the global investment bank, today announced the further expansion of its market-leading Financial Restructuring Group with the launch of a Sovereign Advisory practice to provide comprehensive financial advisory services to sovereign entities facing complex challenges. Formerly a Managing Director within Lazard’s Sovereign Advisory Group, David-Alexandre Gadmer joins the firm to spearhead the new initiative. He will be based in the firm’s Paris office.

Mr. Gadmer joins as a Managing Director and Head of Sovereign Advisory and will be working alongside long-time Houlihan Lokey restructuring professionals, Managing Directors Steve Spencer, Salil Shah, and Gijs de Reuver to provide an integrated service offering to sovereign clients, leveraging the firm’s leadership position in global financial restructuring and capital markets advisory.

During the course of his 25-year investment banking career, 20 of which were spent at Lazard, Mr. Gadmer has specialized in sovereign restructuring and debt advisory and has advised on approximately US$450 billion of sovereign debt restructurings and more than US$150 billion of sovereign debt advisory transactions. These include, while at Lazard, recently advising Sri Lanka on its restructuring of external and domestic debt; Zambia on its restructuring of external debt; and Ghana on its restructuring of external and domestic debt.

“The establishment of the Sovereign Advisory practice enables us to address the evolving needs of sovereign entities, and with our deep knowledge of regulations and best practices in jurisdictions around the world, this is a natural addition for our group,” said Eric Siegert, Global Co-Head of Financial Restructuring at Houlihan Lokey. “We believe that we can offer a compelling alternative to the traditional Sovereign Advisory marketplace, delivering not only our recognised leadership in global financial restructuring and capital markets advisory but also the depth of key relationships and transaction expertise of a truly global advisory firm. Under David’s leadership and with senior colleagues alongside him, this practice will enable us to serve a new client base with bespoke solutions as they navigate increasingly complex financial landscapes.”

“Houlihan Lokey’s leadership in global restructuring is well known, and the growth of its corporate finance practice has been truly impressive. I am delighted to be joining such a strong and dynamic organisation. The firm itself is renowned for its commitment to excellence and its client-focused approach, both of which are values that I share. The firm is ideally placed to enter this field as it offers unmatched expertise across the whole financial advisory marketplace, which is becoming of increasing importance to sovereigns and state-owned enterprises. I look forward to working with my new colleagues to establish and grow this practice to contribute not only to the success of our clients but of the firm as well,” said Mr. Gadmer. 

Houlihan Lokey has the largest worldwide financial restructuring practice of any investment banking firm, with 17 offices  and more than 275 experienced professionals located across the globe. Since its inception in 1988, the Financial Restructuring Group has advised on more than 1,700 restructuring transactions with aggregate debt claims in excess of US$3.5 trillion.


Houlihan Lokey (NYSE:HLI) is a global investment bank with expertise in mergers and acquisitions, capital markets, financial restructuring, and financial and valuation advisory. The firm serves corporations, institutions, and governments worldwide with offices in the Americas, Europe, the Middle East, and the Asia-Pacific region. Independent advice and intellectual rigor are hallmarks of the firm’s commitment to client success across its advisory services. The firm is the No. 1 investment bank for all global M&A transactions, the No. 1 M&A advisor for the past nine consecutive years in the U.S., the No. 1 global restructuring advisor for the past ten consecutive years, and the No. 1 global M&A fairness opinion advisor over the past 25 years, all based on number of transactions and according to data provided by LSEG (formerly Refinitiv).

For press inquiries, contact PR@HL.com or +1 212.331.8225.