PFA Member Profile: Lisa Cusano, Managing Director, Alvarez & Marsal
With over a decade of experience in tax advisory and financial services, Lisa Cusano brings strategic insight, technical precision, and a people-focussed approach to her role as Managing Director at Alvarez & Marsal. Since joining the firm 14 months ago, she has been at the forefront of its expansion in Australia, helping to shape and grow the Financial Service Practice, and strengthen its position in the local Australian market.
Driving Growth Through Expertise
Alvarez & Marsal is in a dynamic phase of growth in Australia, expanding its tax advisory offering through senior appointments from across the Big Four and industry.
“The firm’s focus is on developing a holistic suite of services across financial services, private equity, infrastructure and capital markets, delivered by senior professionals both locally and globally,” Lisa explains.
As Alvarez & Marsal continues its expansion, including most recently in Asia, Lisa is optimistic about the firm’s trajectory.
“We’re focussed on deepening our local footprint while leveraging our global expertise,” she says. “Our goal is to deliver high-impact, cross-border solutions that meet the evolving needs of clients across markets.”
Market Insight: Trends and Challenges
Lisa identifies two key trends shaping the property and investment landscape in Australia.
“There’s growing momentum around Social and Affordable Housing, but achieving sustainable returns requires innovative funding models and genuine long-term commitment”, she notes.
Recent changes to Australia’s thin capitalisation rules, limiting the deductibility of financing costs, are also influencing capital strategies. “These updates are prompting property funds, particularly those with international investors, to reassess their capital structures to ensure compliance and maintain efficiency”, she adds.
Career Highlights and Professional Pride
Over the course of her career, Lisa has worked on a wide range of complex and high-impact projects, each presenting new challenges and opportunities.
“The variety is what makes the work so rewarding”, she says.
Among her proudest achievements are helping clients restructure and optimise investment vehicles to restore investor confidence, and leading the design and implementation of a tax compliance solution for a group of 120 funds, streamlining the process for tax distribution and reporting across the board.
“These initiatives show how technical expertise, collaboration and problem-solving combine to deliver lasting value.”
Professional Motivation
Lisa’s motivation stems from creating meaningful results that extend beyond the technical.
“I’m driven by the opportunity to deliver outcomes that make a real difference—to clients, to our business and to the people I work with”, she says.
Her leadership style balances analytical rigour with empathy, valuing both strategic insight and human connection.
Industry Engagement
Lisa’s involvement with the Property Funds Association (PFA) has been a key part of her professional journey.
“PFA membership provides valuable opportunities for networking, collaboration, and staying connected with industry developments”, she says.
As a member of the Communications Committee, Lisa contributes to thought leadership and advocacy. “It’s rewarding to help shape conversations that influence the future direction of our industry.”
Advice for Emerging Professionals
“The right attitude, drive, and willingness to learn are everything”, Lisa advises.
While technical skills are critical, she believes success ultimately depends on curiosity, adaptability and a genuine commitment to growth. “Those who approach challenges with curiosity and persistence will thrive.”
Beyond the Office
Away from the boardroom, Lisa has a passion for travel, particularly to Italy, a destination she returns to often.
“Each visit, I explore a new town, but I always end my trip in Rome”, she says. “On my last visit, I travelled solo through the Puglia region in a little Fiat 500. It was quite the adventure.”
Lisa says these experiences offer valuable perspective. “Travel has a way of broadening your view and teaching you resilience, which often translates back into professional life.”
Quote Highlight:
“I’m energised by the opportunity to shape something meaningful—to build, lead and deliver outcomes that truly make a difference.”