Flaton, Formerly At Lazard, Joins Zolfo Cooper
Flaton, Formerly at Lazard, Joins Zolfo Cooper
By: Emily Glazer
Carol Flaton, most recently a Lazard banker specializing in restructurings, has moved to turnaround firm Zolfo Cooper LLC to help strengthen its advisory practice.
Ms. Flaton, 49, started as managing director at New York-based Zolfo Cooper, which has about 50 people.
“I’ve known the guys for 15 years,” she said of people she’s worked with at Zolfo. “The middle of the night conference room negotiations either on my side or against it – the mettle is tested.”
The closely held firm had an advisory practice since it was founded in 1985. It advised restaurant chain Friendly’s and creditors in American Airlines Inc. and Eastman KodakKODK -0.40%. Zolfo Cooper also worked on Enron Corp.’s bankruptcy and film studio Metro-Goldwyn-Mayer Studios Inc. before and during its bankruptcy proceedings.
The firm has an “interim management” business, where its executives serve as chief restructuring officers, a temporary role to improve companies’ operations in distressed situations.
Ms. Flaton most recently served as a managing director in Lazard’s restructuring advisory group until this past fall. She worked on situations including real estate finance company Capmark Financial Group Inc.CPMK -8.54%, telecommunications firm LightSquared Inc. and energy producer Dynegy Inc.
Among other prior roles, Ms. Flaton worked on creditor-side advisory work at CitigroupInc.C -0.79% and spent roughly a decade at Credit Suisse Group AG, including a five-year stint in Europe.
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