3131 McKinney Ave, Suite 600, Dallas, TX214-438-4840info@challengeradvisors.com

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The Challenger Advisors team is comprised of highly experienced, proven professionals who have decades of combined experience in financial, operational and strategic services. Each member brings with them unique perspectives, special talents and the extensive real-world expertise needed to develop and implement high-level strategies.

Meet The Team

Marwan Salem

Marwan Salem is a Director at Challenger Advisors specializing in financial advisory and restructuring services for clients, both in bankruptcy and out-of-court situations. He has more than 13 years of experience and has assisted companies in various industries including retail/consumer products, specialty chemicals, telecommunications, energy and distribution/logistics.

Throughout his career, Marwan has helped companies solve complex financial and operational problems with dependable, real-world solutions such as:

  • Building cash flow, leverage and capital structure models and liquidation recovery analyses
  • Developing and implementing operational turnaround initiatives to improve liquidity and profitability
  • Maximizing creditor recovery through the analysis of alternative asset monetization options
  • Analyzing receivables, payables, and corporate control functions for finance and accounting departments

Prior to joining Challenger, Marwan worked for XRoads Solutions Group LLC, Zolfo Cooper LLC, and Deloitte & Touche LLP in areas like financial restructuring, turnaround management, bankruptcy and insolvency, cost-cutting and managing liquidations and business wind-downs.

Marwan received his BBA in Finance and Economics from Emory University and is a Certified Insolvency and Restructuring Advisor (CIRA).


Mark Shapiro

Mark Shapiro is a Managing Director for Challenger Advisors with over 25 years of experience in providing consulting and management services to underperforming companies. He emphasizes a hands-on approach toward strategic planning and implementation that enables collaborative investor and management interaction.

Working with clients in industries like retail, real estate, media, and consumer and business services, Mark has provided business solutions for a wide range of companies including:

  • Big Lots, Inc.
  • KB Toys
  • Fleming Companies
  • Central Parking Corp.
  • Ultimate Electronics
  • Waterpik, Inc.
  • Yak Communications Inc.
  • PCAA, LLC (subsidiary of Macquarie Infrastructure Co.)

During his time with Challenger Advisors, Mark has taken on numerous senior-level management positions such as CFO, CAO and CRO for publicly-held, privately owned, equity sponsored and family operated entities.

Mark received his BS in Accounting from The Ohio State University and is a Certified Public Accountant.


Dwayne Toler

Dwayne Toler is a Managing Director for Challenger Advisors. He has over 25 years of experience as a financial advisor and sponsor of business venture transactions.

Dwayne has experience in many different areas of finance. Before joining Challenger Advisors, he served as a third-party advisor and helped restructure approximately $2 billion of debt and raised in excess of $500 million of new equity capital for an array of clients.

Working with businesses in finance, real estate, automotive and banking, Dwayne is a seasoned professional and specializes in two specific areas:

  • Debt restructuring and turnaround management services
  • Capital markets, with an emphasis on raising institutional and non-institutional equity capital for business transactions and structured finance

Dwayne received his BS in Accounting from Indiana University and is a Certified Public Accountant.



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