Houlihan Lokey restructuring bankers are being hired at nearly double the rate they had been in the months before the coronavirus pandemic, Chief Executive Officer Scott Beiser said during the firm’s fourth-quarter earnings call.

“It’s a rather busy time in the restructuring world,” Beiser said on 12 May. The increase in restructuring work over the past two months has helped offset a decline in Houlihan’s mergers and acquisitions business, he added, as federal and state governments have shut down parts of the economy to slow the spread of the virus.