The 2017 Women Leaders on Consulting: Pilar Tarry

BC—before consulting—Pilar Tarry was an investment banker, helping management teams buy their companies. She worked on one particular deal where the client turned out to be distressed, unbeknownst to her at the outset. That management team needed a lot of support and there were so many challenges. "I was so energized by that deal," Tarry says. "After it closed, my partners said 'never again.' But I knew I had found my calling!"

That calling now incudes helping large and middle-market companies devise and implement complex restructuring solutions, both in and out of court. Tarry, a Director in Chicago, brings more than 15 years of expertise to bear helping clients with contingency planning, case management, negotiation of debt obligations, and the design of crisis communication programs. She also leads vendor management programs and implements restructuring transactions, primarily section 363 sales and recapitalization transactions.

"I get to work with tremendous people in unbelievably challenging situations," Tarry says. "I get the most enjoyment out of the exchange of ideas and the energy that comes from tackling critical issues and making high impact decisions. Watching a diverse group of people with different approaches synthesize into a cohesive team with a common goal—now that's fun!"

Tarry led the execution and implementation of section 363 sales and recapitalization transactions at Walter Energy, Dana Corporation and Cable & Wireless. She also led contingency planning and case management processes at Appvion Paper, Triangle Petroleum and Walter Energy, among others.

"Every time we can be part of helping a client get a second chance when it really matters, it's an achievement; and it makes me proud and renews my commitment to this very challenging work," Tarry says. "I couldn't look at any one success as more rewarding than another—can I say I am proudest of my body of work?"

Ask her what advice she'd give a female consultant just beginning her career and she'll say to create your own role model. "Don't limit yourself to just one person when looking for someone to emulate," Tarry says. "You are unique and the combination of factors that work for you will be as well. You may see elements of yourself and the consultant you want to be in several people—and they may not all be women!  Pick and choose where it works for you."

Meanwhile, Tarry says to be in the company of such accomplished women is such a high honor. "And to be honored for client service excellence, which at the end of the day is the core of what we do in consulting of any type, is icing on the cake."

Consulting: What's the best advice (consulting or otherwise) you've ever received?

Tarry: "A mentor early on gave me great advice: "Take something from every situation, even if it's a bad one." I have worked on so many challenging assignments over my 18 years in restructuring consulting. On every one of them, I learn something from the client, from my colleagues or from the other stakeholders that has made me a better professional and a more empathetic person. And the bad ones—that's where I learn the most!"