The board of Turnaround Management Association (TMA) has appointed Freehills partner John Nestel as president.

Elected as vice president in February this year, Nestel will take the position of president when Adrian Loader stands down and becomes chairman of TMA in November.

TMA was established in 1988 as a not-for-profit organisation which provides a forum for professionals practising in the field of "turnaround management", restoring value to struggling enterprises and avoiding terminal insolvency.

Nestel is a partner in Freehills' banking and finance group and has actively promoted the TMA for a number of years through his work on the NSW committee that he now chairs.