CMA - Carl Marks Advisors
Middle-market advisory firm combining turnaround and restructuring with M&A and debt-and-equity capital advice.
- Highest 2026 tier: Tier II
- Middle-market investment-banking and restructuring advisory firm
- 2 Advisory Ranking categories
Overview
CMA, formerly Carl Marks Advisors, traces its institutional history to 1925. It advises middle-market companies, owners, lenders and stakeholders through high-stakes financial and strategic situations.
The firm provides creditor support, financial and operational advisory, strategic and transaction advice and turnaround management, complemented by investment-banking services through Carl Marks Securities.
CMA - Carl Marks Advisors is included in 2 2026 Advisory Ranking categories. The highest recorded classification is Tier II.
Firm facts
| Legal name | Carl Marks Advisors, LLC |
| Founded | 1925 |
| Firm type | Middle-market investment-banking and restructuring advisory firm |
| Principal offices | New York, Boston, Charlotte, Chicago, Dallas, Los Angeles |
| Primary focus | Turnaround, restructuring and complex corporate finance |
| Managing partner | Keith Daniels |
| Highest 2026 Advisory Ranking tier | Tier II |
Principal activities
Financial and operational advisory
Liquidity, performance and capital-structure analysis for stressed companies.
Turnaround management
Hands-on leadership and implementation during business disruption.
Strategic and transaction advisory
M&A, capital raising and strategic alternatives in complex situations.
CMA - Carl Marks Advisors works with clients on assignments that may combine strategy, specialist analysis, implementation support and organizational adoption. The precise scope depends on the mandate, sector, geography and client requirements.
Sector and mandate coverage
Sector coverage
- Manufacturing and industrials
- Consumer and retail
- Food and beverage
- Healthcare
- Transportation and logistics
- Energy services
Mandate types
- Creditor support
- Financial restructuring
- Operational turnaround
- Distressed M&A
- Debt and equity raising
- Interim management
Market position
CMA / Carl Marks Advisors is positioned as a middle-market investment-banking and restructuring advisory firm. Its market position reflects the combination of advisory scope, senior involvement, stakeholder credibility, restructuring experience and ability to support implementation.
Distinctive focus: Long middle-market history combining restructuring execution with regulated investment-banking capabilities.
Competitive context
CMA / Carl Marks Advisors competes with restructuring boutiques, investment-banking advisers, turnaround consultants and multidisciplinary expert-services firms. The relevant peer set changes according to mandate size, stakeholder side, industry, geography and whether the work requires operating leadership, regulated securities activity or formal fiduciary appointments.
Comparable firms are selected according to overlap in business model, client segment, service coverage, geographic activity and mandate profile. Inclusion does not imply equivalence in scale, ranking or market position.
Leadership
| Person | Current position | Institutional background |
|---|---|---|
| Keith Daniels | Managing Partner | Operational leadership and complex situations |
| Evan Tomaskovic | Managing Partner; CEO, Carl Marks Securities LLC | Investment banking, M&A and financings |
| Brian Williams | Managing Partner | Investment banking and strategic advisory |
Leadership information reflects the public sources reviewed for this profile. View the firm’s website ↗
Corporate and regulatory information
CMA provides advisory services through Carl Marks Advisors, while securities activities are conducted through Carl Marks Securities LLC. The applicable regulatory status depends on the engagement entity.
View registered-entity details
| Advisory entity | Carl Marks Advisors, LLC |
| Securities affiliate | Carl Marks Securities LLC |
| Regulatory status | Securities activities through regulated affiliate |
| Primary jurisdiction | United States |
Principal offices
- New York
- Boston
- Charlotte
- Chicago
- Dallas
- Los Angeles
Rankings and recognition
Ranking inclusion is editorially determined. The existence or maintenance of a Wiki profile does not influence ranking eligibility, tier or position.
Related Economy analysis
Selected Economy Markets articles providing context for the firm’s advisory environment:
- Why Access Alone No Longer Wins Clients
- How AI Is Reshaping the Consulting Industry in 2026
- The Silent Reshuffle of the Advisory Market
- Middle-Market Private Equity: Returns, Scale and Manager Selection
Related institutions and subjects
Sources and data transparency
The profile is based on the following publicly available institutional, regulatory and editorial sources:
- CMA — firm overview and service platform.
- Turnaround & Restructuring — restructuring services and sectors.
- Our Team — current leadership and roles.
- Advisory Ranking — Top 30 Restructuring & Special Situations Advisory 2026 — inclusion and tier classification.
- Advisory Ranking — Top 30 Operational Turnaround Advisory 2026 — inclusion and tier classification.
