PJT names Zelin head of restructuring

IFR 2210 18 November to 24 November 2017
Quick read
Americas, EMEA
Philip Scipio

PJT Partners named Steve Zelin as head of its restructuring and special situations group to succeed longtime head of the business Tim Coleman.

Coleman has been named global chairman of the group.

Zelin will take the role on January 1. He is one of the longest serving members of the PJT restructuring group, having worked for Blackstone’s restructuring group for 17 years before it was merged with PJT in 2015. Prior to joining Blackstone, he was a partner in Ernst & Young’s restructuring group.

Among his largest transactions, Zelin has worked on restructurings at Calpine, Energy Future Holding, Caesars Entertainment, Abitibi Bowater, Enron and Washington Mutual.

Martin Gudgeon will remain head of the restructuring group in Europe.

In his new role, Coleman will work on firm-wide initiatives and act as a “brand ambassador” for PJT, according to an internal memo seen by IFR. He will remain involved in helping win mandates and on select transactions, as well as work with global teams to enhance collaboration and expand market share.

PJT ranked third in completed restructuring transactions in the first nine months of 2017, according to Thomson Reuters data.