Chanin Capital Partners opens Detroit-area office to be run by Chatterjee, Varma

By Caroline Salls

Pittsburgh, Jan. 10 - Chanin Capital Partners opened a Troy, Mich., office to be anchored by Chanin senior advisors Anjan Chatterjee and Sanjeev Varma, following a string of new client engagements in the Detroit area, according to a company news release.

Chatterjee and Varma will also continue their role of advising Chanin clients in the automotive, supplier and transportation industries.

"Companies in the automotive sector are facing unprecedented challenges in an era of legacy cost structures, increased raw materials pricing and intense competition from abroad," Chanin senior managing director Skip Victor said in the release.

"Given our long history of restructuring experience, focus on execution and deep bench of professional talent, Chanin is well-positioned to serve automotive-related advisory assignments. Having a local presence further enhances our ability to serve clients in the region."

Chanin said it is currently involved in the restructuring of Delphi Corp. and Collins & Aikman Corp., among others.

Chatterjee was most recently a senior vice president and acting chief financial officer of Visteon Corp. Before joining Visteon in early 2003, Chatterjee was a senior partner and head of McKinsey & Co.'s North American Automotive Practice.

Earlier, Chatterjee held senior management positions for AT Kearney, Inc. and Booz Allen & Hamilton.

Varma has held senior marketing, strategic planning and product development positions with New Venture Gear, Inc., a subsidiary of DaimlerChrysler, Magna and DaimlerChrysler. Varma also is senior advisor, automotive, to the Industrial Investment Council, a German Government Agency.

Chanin is a Los Angeles-based specialty investment banking firm.

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