TMA International

TMA International Fact Sheet

The Turnaround Management Association (www.turnaround.org) is the only international non-profit association dedicated to corporate renewal and turnaround management. Its international headquarters are in Chicago. 

Established in 1988, the TMA has nearly 9,000 members in 45 chapters, including 32 in North America, and one each in Australia, Brazil, China, the Czech Republic, Finland, France, Germany, Italy, Japan, the Netherlands, Southern Africa, Spain, Taiwan and the UK, with a chapter in formation in China.

TMA members are a professional community of turnaround and corporate renewal professionals who share a common interest in strengthening the economy through the restoration of corporate value. They include:

• 49% -- Turnaround practitioners who consult with or participate in helping troubled companies in the recovery process, including interim corporate managers, financial adviser, operating advisers and accountants
• 15% -- Lenders and Bankers/Workout Officers
• 11% -- Attorneys  
• 9% -- Investors, including equity investors, investment bankers and venture capitalists
• 16% --  Misc., including receivers, appraisers, trustees, auctioneers/liquidators, factors, academics and government/judges

All TMA members must sign a Code of Ethics each year specifying high standards of professionalism, integrity, and competence.

TMA’s Certified Turnaround Professional (CTP) program recognises professional excellence and provides an objective measure of expertise related to workouts, restructurings and corporate renewal. Applicants for certification must meet stringent standards of education, experience and professional conduct, pass a comprehensive examination and maintain the credential through continuing education credits.

TMAssist is a public service program, originally formed to aid business's affected by the 2005 Gulf Coast hurricanes, which included workshops and educational materials. Currently, TMAssist workshops are being offered to any chapter and community with exceptional needs. In 2008, 75 volunteers helped plant irises in New Orleans City Park to help revitalise the lagoon as part of TMA’s 20th Anniversary Celebration.

The Journal of Corporate Renewal, Annual Report, and Web site (www.turnaround.org) are TMA’s principal publications.

Since 1993, TMA’s award program has recognised outstanding achievements by chapters and individual members at its Annual Convention. The Turnaround of the Year Awards began in 1996; the Carl Marks Student Paper Competition in 2003; the Butler-Cooley Excellence in Teaching Award in 2004, and in 2005, the Transaction of the Year. A Turnaround Management, Restructuring and Distressed Investing Industry Hall of Fame was established in 2008 and inducted 10 icons at its 20th Anniversary Celebration.