The Portfolio Executives

My career began by producing annual accounts for small companies, helping them save on professional fees. Over time, that work led to being asked to fix broken finance functions and, perhaps inevitably, to supporting more organisations experiencing financial distress. In 1994, I cut my teeth leading operational turnarounds as CEO of a group of four SMEs operating in different sectors. My professional development in turnaround and restructuring coincided with the launch of the Society of Turnaround Practitioners in 2001. As the years progressed, I took on increasingly complex assignments and, in 2016, founded the London Restructuring Network. In late 2017, I self-published a book on managing financial crises and restructurings. Today, most of my introductions come from shareholders, lenders, and financial advisers.

One of my first major successes came in 1985 when I took on a challenging assignment in Malawi for an internationally owned freight business whose finance function had fallen into disarray following the illness and death of its Finance Director. My work involved restoring order to the transaction accounting, reviewing and reconfiguring individual team responsibilities, conducting a comprehensive balance sheet review, re-establishing regular reporting, and producing higher-quality budgets. The business was funded by its parent company, and the inter-company account reconciliation was in a chaotic state. It took eight months to rectify the position, unlock cash to service the parent company debt, and recruit, induct, and train a new permanent Finance Director.

Through those experiences, I’ve gained a vast amount of business wisdom, much of which I have shared in my book. Above all, I believe there is a close correlation between the quality of governance and the value of a business. The essential building blocks are a functioning board, a sensible strategy, and the right team to deliver it. These are among the board’s core responsibilities, under the leadership of the Chair. In addition, the board has responsibility for securing adequate finance and, to achieve that, for regularly reviewing executive plans and performance.

It’s working for me now because, after more than forty years, I continue to value the independence that this way of working provides. I also derive immense satisfaction from solving business owners’ problems and mentoring executives to fulfil their potential. There are very few situations I haven’t encountered before, allowing me to draw on a wealth of practical experience when supporting clients.

Looking ahead, I hope to build on the non-executive experience I have gained in recent years. The challenges are different from those faced by executives, but I bring the perspective of having served as a CEO, CFO, and CRO. My aim is to develop a balanced portfolio that combines both fractional executive roles and non-executive appointments.