Mark Hootnick has joined PJ Solomon as a managing director in the firm’s debt advisory and restructuring practice.
Hootnick has more than 20 years of restructuring experience and was most recently a managing director at Millstein & Co. Prior to Millstein & Co., he held managing director positions at Moelis & Co., and Greenhill & Co., among others.
Marc Cooper, PJ Solomon’s chief executive officer, said, “Mark’s addition enhances our capabilities across a number of sectors and demonstrates our continued commitment to expanding the firm’s debt advisory and restructuring platform.”
Cooper also said Hootnick “will be an asset” to the company as it continues to “broaden and deepen the advisory services we provide.”
Derek Pitts, who heads the debt advisory and restructuring practice, said, “Mark has extensive experience guiding distressed companies and their stakeholders through a variety of complex, sophisticated transactions.”
Hootnick has worked with a range of client profiles, from firms to creditors, as well as investors and acquirers, in past debt advisory and restructuring transactions that have involved more than $50 billion in liabilities. Past engagements involving clients such as American Airlines, Blockbuster, General Motors, Indiana Toll Road, LightSquared Communications and Olympia & York show broad experience across several industries.
Hootnick, noting the company’s legacy and reputation, said he looks forward to being part of the growing debt advisory and restructuring practice as PJ Solomon “continues its strategic expansion.”
Hootnick is the latest hire by the investment banking and advisory firm. Earlier this year, the company brought on Jim McGinnis as a partner in the infrastructure, power and renewables group, and Michael Gottschalk as a partner in its consumer practice group.