Cavendish increases focus on debt with latest hire

Alistair Hay joins the firm from Ernst and Young as Cavendish looks to expand its presence in the private debt market.

Financial advisory firm Cavendish has appointed Alistair Hay to lead the firm’s debt team.

Before making his latest move, Hay worked at Ernst & Young as a director in its debt advisory business, which was preceded by a decade working in Royal Bank of Scotland’s structured finance team. At the bank, he headed up a team that completed more than 40 deals with debt facilities totalling more £6.6 billion ($8.8 billion; €7.8 billion). Hay has worked with a number of notable clients across his career, including Greene King, Mitchell&Butlers and PartyGaming.

Cavendish, established in 1988, specialises in advising firms on the sell side of M&A. Earlier this year, the firm advised Pets Corner on its £8 million debt facility used to acquire PamPurredPets. In his latest role, Hay will advise companies considering selling and outline the potential debt opportunities that may be more attractive for firms looking to expand.

Lord Leigh of Hurley, co-founder of Cavendish, said: “This is exactly the right time for us to enhance our capabilities, given the range of options and depth of funding now available in the debt markets.”

Hay said: “The firm has a great reputation as the UK’s leading sell-side M&A house and by strengthening its debt advisory offering Cavendish will enhance the service it can provide its clients.”