One of the most rewarding aspects of volunteer leadership at TMA Global is the frequent interaction I have with TMA members from around the world. Although differences exist in local insolvency laws and restructuring customs, global turnaround professionals share a fundamental focus on improving liquidity and profitability of underperforming and distressed companies to support employees, customers, suppliers, lenders, and equity holders. It is this shared focus on preserving and enhancing the value of these companies that unites restructuring professionals regardless of where they are located around the globe.
While other insolvency related organizations exist, TMA truly stands alone as the only global community embracing professionals from all related turnaround and restructuring disciplines. It is our diverse membership that facilitates such creative and innovative knowledge sharing through TMA Global and our local chapters alike. Indeed, while TMA provides the requisite education and certification tools for our members, it is the community itself that makes TMA unique.
TMA boasts 32 chapters in the U.S. and Canada and another 20 chapters internationally. Our international membership has grown well over 200 percent in the last 10 years and now represents almost one-third of our total members. Consistently, I hear from our international members that TMA’s power lies in its ability to attract and connect turnaround professionals who understand the value of making and cultivating connections with others in the industry. TMA’s success in providing opportunities for members to connect and network is not unique to North America. It is woven into the fabric of TMA worldwide and creates a special bond among all our members.
But there is even more that TMA Global can do for our international chapters and members. Throughout 2019, I will be leading a special initiative focusing on enhancing connectivity with our international chapters and enriching the mutual value propositions between TMA Global and its international members. A broad spectrum of TMA leaders from our diverse global community will participate in the initiative to provide their input. The goal is to improve our communications and connections so that our international members can benefit more from being a part of the TMA community and increase their impact in their local distressed markets.
Why is TMA’s international presence important to you and your business? Our clients are doing business globally and are affected by global economic pressures. Despite a widespread political trend toward nationalism, it is increasingly rare for turnaround and restructuring professionals to encounter a client who does not have global suppliers or customers, or manufacturing facilities located around the world.
Additionally, as distressed investment opportunities become more scarce and competitive, savvy investors are expanding beyond their own borders to find overlooked value opportunities. Who is better positioned to help you understand local restructuring nuances in other countries than your fellow TMA members around the world?
Just as we connect with each other through our annual, regional, and local programs and conferences, I also encourage you to consider attending one of TMA’s high-profile international conferences in 2019 to expand your global connections. There are many to choose from: TMA Europe’s Annual Conference in Vienna, May 16-17; TMA Australia’s National Conference in Melbourne, September 11-12; TMA UK’s Distressed Investing Event in London, September 18; and the TMA UK Annual Conference in London, November 14. Speaking from firsthand experience, the knowledge sharing and connections available at these conferences are of the highest quality.
While we tend to identify ourselves with our local TMA chapters, it is important to participate in all corners of TMA’s Big Tent. Our international members look to TMA as a binding resource that helps them succeed. So, too, should we tap into and celebrate the value of our TMA connections around the world.
Kevin A. Krakora, CTP
2019 TMA Global Chair