Edelweiss Asset Reconstruction Company has appointed Sumanth Cidambi as the chief executive officer of a new business that will devise and execute operational and structural turnaround strategies for distressed assets in its portfolio. Sumanth will report to Edelweiss ARC managing director Siby Antony as the head of the Edelweiss Distressed Asset Resolution Business, India’s largest asset reconstruction company said in a statement. Cidambi was earlier with Alvarez and Marsal, a global specialist turnaround firm, where he was involved in the operational restructuring for one of India’s largest private airline companies.

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