The Finance Team Setting the Business Growth Agenda - … · Robert Half Executive Round-Table Series 2011 The Finance Team Setting the Business Growth Agenda roberthalf.co.uk/roundtable

Robert Half Executive Round-Table Series 2011

The Finance Team Setting the Business Growth Agenda

roberthalf.co.uk/roundtable

http://www.roberthalf.co.uk/roundtable


Contents

03 Introduction

04 Atimeforleadership

08 Buildingthefuturefinanceteam

12 Guardingthebottomline

16 Prosperingthroughprocessimprovement

21 Conclusion

22 Attendees

Robert Half ExecutiveRound-TableSeries2011



Introduction

Growth. It’s the imperative of every businessboardroom and a yardstick by which theworld’s economies are measured

“ Of the finance and business leaders who attended our round tables this year, almost 70% said they were experiencing growth, while a further 79% of those who could not report growth today predicted that it would return within the next 12 months.”

WithcertainareasoftheUKeconomyshowingsignsofrecoveryfromtherecession,growthisacommonthemeonthecorporateagenda,evenfororganisationsthathaveyettoexperienceany.Ofthefinanceandbusinessleaderswhoattendedourfiveexecutiveroundtablesthisyear,almost70%saidtheywereexperiencinggrowth,whileafurther79%ofthosewhocouldnotreportgrowthtodaypredictedthatitwouldreturnwithinthenext12months.

These figures are supported by the findings of the most recent Robert Half Professional Hiring Index, which surveys more than 450 senior executives at UK companies. Here the proportion of CFOs who felt at least as confident in their companies’ prospects for growth as they did six months before stood at 84%, while a further 73% were as confident or more confident than six months ago when thinking about the wider UK economy.

As usual, our executive round tables were able to delve behind the statistics to hear directly how finance and business leaders across the country are managing the growth agenda, including those operating in markets where conditions remain challenging.

During the lively discussions in each city, we heard interesting views on the role of finance leaders and their teams as enablers of growth, including the effect these new responsibilities might have on the future shape of the finance function.

With the funding environment still tough, many participants also stressed the need to manage cash resources carefully, as well as to strike the right balance between risk and reward when considering investments that will spur growth. And we assessed the extent to which the finance team could do “more with less” by making the most of technology to sharpen its internal processes and ways of working.

I am grateful to all those who attended the 2011 Executive Round-Table Series and shared their views with such frankness. I came away from the meetings with new insights, and I’m confident that you’ll find the same after reading this report.

Phil SheridanManaging Director United KingdomRobert Half

> Nearly 70% of 2011 Executive Round-Table Series attendees said they were experiencing growth

The Finance TeamSettingtheBusinessGrowthAgenda 03



A time for leadership

Asaresult,thefinanceteam,withitsprovenexpertiseinalltheseareas,earneditsrighttositatthestrategictoptableofmanyorganisations.

Today,asorganisationsprepareforgrowth,theevidencefromourroundtablessuggestsanextraordinaryopportunityforseniorfinanceprofessionalstoprovidegenuineleadershiptothisprocess.Mostnotablytheyhavethepotentialto:

• Becomeenablersofgrowth

• Spearheadthedevelopmentoftheirteamsasenginesofgrowth

• Becomepartners,notjustscore-keepers,totherestoftheorganisation

• Ensuretheviabilityandsustainabilityofnewbusinessopportunities

Enablers of growthThere’salwaysbeenpressureforbusinessestogrow.Whatisdifferentfromthepastisthatcorporateboardroomsarenowlookingtotheirfinancefunctionstocontributetodecisionsonwhereandhowtogrow,aswellasmanagingandsupportingthatgrowthinawaythatwouldhavebeenunthinkableagenerationago.Thisisanopportunitythatmanytopfinanceprofessionalsareseizing.

Forexample,Patrick Wilson, Director of Finance at Simplyhealth,declares:“Whencashflowsareall-important,itputsthefinanceteamrightinthecentre.Youcan’tdoanythingwithoutfinance.”

Manyseethischancetoleadthegrowthagendaasarewardforthevitalrolefinanceplayedinminimisingtheeffectsoftherecession.Ian Plumb, Associate Director at Endless LLP,explains:“Financehasbuiltitscredibilitythroughthedownturn;nowitneedstobeeverywherewithintheorganisation.Themorefinanceflexesitscommercialmusclesthemoreindispensableitbecomes.”

Thefinanceteam’sgrowingcredibilitymanifestsitselfinotherwaystoo.Frombeingseen–oftenunfairly–asthebeancountersonlyinterestedinthwartingcommercialopportunism,nowthefunction’sroleasalegitimatesoundingboardisrecognisedandunderstoodwithinmanycommercialteams.

AsLinda Foster, Finance Director (UK region and Economist Online/Digital Editions) for The Economist Group,notes:“Becausewe’vebeenthroughtherecession,thecommercialteamsaremuchmoreawareoftheimpactsofinvestmentdecisions.Ifyoupresentthemwithafinancialbusinesscasethatindicates‘no’andexplaintherationaleforthatdecision,they’remuchmorereceptivetothefinanceview.Thismaychangeintimeasmemoriesoftherecessionfade,butit’sanicepositiontobeinrightnow.”

Withinpublicsectorbodiesandthebusinessesthatsupplypublicservices,theprevailingatmosphereofretrenchmentmeansthecontextisdifferent,eventhoughsimilarleadershipopportunitiespresentthemselves.

Ian Hughes, Chief Operating Officer at BBC English Regions,says:“We’regoingthroughahugeperiodofchange.Whilesomeinthefinanceteamhavefallenbythewayside,thosewhoareleftareatthecuttingedgeoftransformingthebusiness.”

Some harsh lessons about cash flow, risk and profitability had to be learned during the credit crunch and recession

“ When cash flows are all-important, it puts the finance team right in the centre. You can’t do anything without finance.”

Patrick Wilson Director of Finance Simplyhealth




“ Because we’ve been through the recession, the commercial teams are much more aware of the impacts of investment decisions.”

Linda Foster, FinanceDirector(UKregionandEconomistOnline/DigitalEditions),TheEconomistGroup




Spearheading the development of the finance team“Iseefinance’sfutureroleintermsofowningdeliveryofexemplaryperformanceinsteadofjustsupportingit.Wehavebecomeeffectivebusinesspartnerstotherestofthegroup,butifwewanttoachievethegrowththatwe’reaimingfor,theneverybodyintheteamneedstoknowwhattheyneedtodoinordertodelivertheirpartofit.”Thisview,fromRichard Bee, Finance Director – Diageo Europe Supply, Diageo Scotland Ltd,emphasisesthechangingroleofthefinanceteambutalsobringstotheforethehumanchallengeinvolvedinmakingchangelikethishappen.

Clearly,thefinanceteamcannotadaptovernighttoitsnewresponsibilitieswithinthegrowthagenda.SotheonusisverymuchontheCFO/FDtocontrolthechangeprocessandtodriveitforwardwithintheirteamsatthesametimeastheylooktodevelopthe“growthengine”elementoftheirownroles.

Mark Tweed, Chief Financial Officer at GMAC UK plc,saysofthischallenge:“Financeisnowexpectedtobethefacilitatortogrowth.Myroleistocascadethisthroughthedepartmentsotheteammemberscanbecomegrowthleaderstoo.It’snotreallypossibletotrainthisintothem;IgivethemtimewiththeMDandSalesDirectorinordertobuildtheircommerciality.”

Anotherprovenwayforfinanceleaderstohelptheirteamsbecomebetterfacilitatorsofgrowthisbyshowingtheirtrustintheirstafftogetonwiththejob.Encouragingprudentrisk-takingandcreativesolutionstoproblems,delegatingtasksthenkeepingoutofthewaywhilethey’reperformed–allthiswillhelpcommercialitytoflourish.

Finance Director David Robsonisonewhobelievescommercial“gems”canbepolishedupinthisway.Hesays:“I’veworkedwithfinanceteamsthatappearedtototallylackacommercialoutlook,butthatwassimplydowntothefactthatnobodyhadeveraskedthemfortheiropinionsoncommercialmatters.It’suptoustoengageandencouragepeopletouncoverthesehiddenskills.”

Partnering with the rest of the organisationIftherecessionhelpedtobreakdownthebarriersbetweenfinanceandtherestoftheorganisation,thenextstepisforthefunctiontobecomeanequalandvaluedpartnerwithintheboardroom,aswellasamongthesalesteamandoperationalareas.

Mark Bullough, Finance Manager at Gleeson Capital Solutions Ltd,givessomecontexttothetransition:“Thegreaterroleoffinanceinbusinessstrategywassomethingbornofnecessity,butasaresulttheteamisnowmuchmoreintegratedwiththeoperationalside.Thathasledtoachallengedbuthappyworkforce,asaccountantshavebeenabletodrivetheirownideasoncostreductionandfindamorereceptiveaudienceforthoseideas.”

Thejobisfarfromcomplete,though.“Financeneedstocontinueitsjourneyfromreactiveproviderofmanagementinformationtoproactivebusinesspartner,”saysDavid Jones, Financial Director at IGT-UK Group Ltd.

Oftenthetransitionintoatruebusinesspartnercanbeeasedbysheddingsomeofthemoretransactionalaspectsofthefinanceteam’swork.Thisisespeciallytruewhenheadcountistight.Neil McArthur, Chief Financial Officer at Bifold Group Limited,explains:“Whilethesizeofourfinanceteamhasn’tchangedmuchwehavefoundwaystoreplacesomeoftheday-to-daycontrolandanalysisactivitieswithmorefocusonstrategicdirection,inparticularworkingcloselywithseniormanagementtoaddressopportunitiesinnewsectorsaswellasdecidingwherebesttospendourmarketingresources.Financehasbecomeasoundingboardfortherestofthebusiness.”

Anearlybenefitofthispartneringapproachisthatsomeofthetraditionalstrengthsoffinance–prudenceandsoundanalysis–havepercolatedintothefront-linefunctions.Neil Stevenson, Executive Director of Brand at ACCA,isonewhohaswitnessedthisoccurrence.Heremarks:“Financehashelpedtofosteramorecost-consciouscultureacrosstheinternationalorganisation,pinpointingthedriversofcostmoreclearly.Thisinturnhasimprovedourabilitytofundmorestrategicallyforgrowth.”

“ Finance needs to continue its journey from reactive provider of management information to proactive business partner.”

David Jones Financial Director IGT-UKGroupLtd




ThealternativetosuchanapproachisunthinkabletopeoplelikeMartin Saurma-Jeltsch, Finance Director at CEME.Heargues:“Financeshouldremainattheheartoftheorganisationintheyearsahead–nottodosoisashortcuttoruin.It’sgreattohaveexcitingvisionsforanorganisation,butunlessthere’ssolidfinancialengineeringbehindthem,thewheelsgenerallycomeoffveryquickly.”

Ensuring new business is viable and sustainableAscompanieslooktoeitherkick-startorpushonwithgrowth,theclearmessagefromtheroundtableswasthattheremustbenoreturntothebadcorporatehabitsthatweresobadlyexposedbythecreditcrunchandrecession.Whileriskmustalwaysbeanelementofdoingbusiness,sinceitgoeshandinhandwithreward,thefinanceteamhasaparticulardutytokeepriskundercontrolandtoreininanyexcessivelyambitiousgrowthplansputforwardbycommercialteamsorseniormanagement.

Martin Reynard, Finance Director at FST Technologies Limited,emphasisesthispoint,saying:“Financemustnotbeafraidtogetstuckin,becauseintimesofchallengethere’sarealriskthatthesalesteamcouldcorrodethefutureofthecompanybygoingafter‘easywins’whenthemarginisn’tthere.”

Ashwin Gadher, Finance Director at Vaultex UK Ltd,agrees,adding:“…financehasgotakeyroleinbalancingcommercialenthusiasmwithahard-nosed‘showmethemoney’approach.”Thistaskwillundoubtedlybehelpedbyamoregeneralchangeofattitudetowardsriskamongkeydecision-makers.Jonathan Wyatt, Managing Director at Protiviti,haswitnessedthisdevelopmentfirsthand.Hesays:“Whathashappenedoverthepastyearortwoispeoplehaverecognisedthattheinformationtheyhadaboutrisk–andtheirunderstandingofthatrisk–wasnotasgoodasitperhapscouldhavebeen,leavingthemquiteexposed.Todayorganisationsarestartingtobecomemoresophisticatedinthewaytheyanalyseandunderstandrisk.Theonusisonobtaininggoodinformationaboutriskexposuresbothwithintheorganisationandthosethatcomethroughexposuretooutsideorganisationssuchasagentsorsuppliers.”

Fromaprocesspointofview,oneofthekeyrolesidentifiedforthefinanceteamistoensureanynewbusinessismanageable,profitableandsustainable.Gordon Hutcheson, Financial Controller at Regenersis (Glenrothes) Ltd,explainsthatwithinhiscompany,everynewbusinessproposalmustnowgopastfinance.“Andindoingsowedon’tjustlookatthepotentialprofitabilityofthebusiness,”headds,“wealsoanalysethecashflowimplicationsacrossthegroup.Somecontracts,evenifthey’requiteprofitable,cansuckawaycashthatanotherpartofthebusinessiswaitingon.”

Thissameprudenceandriskawarenessalsoappliestoexpandingthroughacquisition:whilethecurrentclimateisanexcellenttimeforcompanieswithstrongbalancesheetstopickoffweakerrivals,suchdealsmustbeproventocreatevalue.

Looking to the futureIftheconsensusattheroundtableswasthatthelessonsofthedownturnhavebeenlearnedwithintoday’sboardrooms,therewaslessagreementonhowlongthisnew-foundprudencemightlast.OnonehandwereparticipantslikeBoyd Robinson of ESI Ltd,whonotes:“I’dsayabout80%ofthepeopleinourcompanyhadneverexperiencedarecessionuntilthisone.Asthey’veworkedthroughit,they’veacquirednewskillsandthiswillputusinastrongerpositioninthefuture.”

ThosewiththeoppositeviewincludedFrank Lewis, Chairman of Asia Ceramics Holdings plc,whocounters:“Thefundamentalsofrunningabusiness–cashflow,gearing,etc.–shouldapplyingoodtimesaswellasbad.However,there’snoreasontosuspectthatwe’velearnedourlessonsthistimearoundandthatpeoplewillbeprudentoncegrowthpicksup.”

“ ...finance has a key role in balancing commercial enthusiasm with a hard-nosed ‘show me the money’ approach.”

Ashwin Gadher Finance Director VaultexUKLtd




Building the future finance team

Whenquestionedabouttheimpactofgrowthontheirteams,justoverthree-quarters(76%)ofthoseattendingourroundtablessaidthat“existingstaffwillneedtoassumeadditionalresponsibilities”,while63%said“existingstaffwillneedadditionaltraininganddevelopment”.

Inlookingtogivedirectionandimpetustothischange,round-tableparticipantsweremindfulofthreeareasthatwouldneedtobeofparticularfocus:

• Ensuringtheteamhastheskillsitneedstosupportthegrowthagenda

• Structuringtheteamforsuccess

• Developingandretainingstaffcapableofthrivinginthenewenvironment

Upskilling the finance team to support the growth agendaIfthefinanceteamistobeafacilitatortogrowth,itwillhavetoacquireanddevelopnewskillsoutsidethemoretechnical/transactionalareasthathavetraditionallybeenitscorestrength.

Round-tableparticipantstendedtofallwithintwocampswhenitcametoupskillingwithintheirteams.Finance Director Alan Luntisoneofthosewholookstoupskillthroughpracticalexperience.Henotes:“Weneedtoencourageourteamstodeveloptheirjudgementsotheyhavetrustinthemselvesandtheirexperiencewhenitcomestomakingdecisions.Thiscanbedonebymentoring,byspecialisedtrainingandbyputtingpeopleoutintothebusiness.”

“Growingyourown”isalsoaconceptthatappealstoAndrew Wilkins, Finance Director at VolkerRail Group.Hesays:“Tosupportgrowth,wehadtomakesurewehadtherightpeopleintherightroleswithinthefinanceteam.Thismeantgivingcapablepeopleanopportunitytogoupalevel.InowfeelmoreconfidentthattheteamcansupportgrowththanIdid12monthsago.”

Otherfinanceleadersarehappytogotothejobmarkettoacquiresomeoftheskillstheyfeeltheirteamspresentlylack.TheyincludeJonathon Parker-Stafford, Finance Director at Managed Support Services,whosays:“Whilethesizeofthefinanceteamhasreducedoverall,I’velookedtoupskillthroughbringingintherightpeopleevenifthatcostsadditionalcash.It’sacaseofpayingmoreforpeoplewhocancontributemore.”

Whilefindingtheskillstomeetthefinanceteam’snewchallengesisaperennialissue,theviewfromthemarketplaceseemstobethattherecruitmentmarketisbeginningtoquickenpost-downturn.ArecentRobertHalfsurveyof180CFOs/FDsfoundthat24%ofexecutivesplannedtohirefinancialprofessionalsinthesecondhalfof2011and18%expectedadeclineinthesizeoftheirteams,representinganet6%increase.Duringthesameperiod(July–December)of2010,thenetfigurewas-8%,sowe’veseena14-pointpositiveswinginayear.Ofthosewhocurrentlyplantorecruit,70%sawbusinessgrowthasakeyfactorinthatdecision.

How ready is the finance team for its new, more central role in driving the growth agenda?

“ I now feel more confident that the team can support growth than I did 12 months ago.”

Andrew Wilkins Finance Director VolkerRailGroup




> 24% of 180 surveyed CFOs/FDs plan to hire financial professionals in the second half of 2011

“ We need to encourage our teams to develop their judgement so they have trust in themselves and their experience when it comes to making decisions.”Alan Lunt, FinanceDirector




Structuring the team for successRoger Williams, Commercial Director at Hulse Ltd,spokeformanywhenhetoldtheBirminghamroundtable:“Wemustcontinuetoelevatethefinancedepartmentoutofsolelycrunchingnumbers.”

Clearly,thefinanceteam’smorecentralpositionwithintheorganisationmeansahead-downapproachisnolongerappropriateformanyroleswithinit,includingthoseatwhatcouldbecalledthe“transactional”endofthespectrum.

Insteadfinanceneedstoassumeamuchhigherprofileasitlookstobecomeagenuinepartnertothebusiness.Keith Brown, Group Finance Director at Gerber Emig Group,sumsituplikethis:“Inuncertaintimescommunicationiskeytokeepingtheshowontheroad.Andfinanceemergesasaveryimportantfunctionbecausewemakesenseofwhat’sgoingonoutthere.Wehavetobeabletoreassurepeoplethatalthoughthingsaretoughwe’regoingtobeOKbecauseweknowwhatwe’redoing.”

Theneedforcommunicationalsoextendsoutsidethebusinesstoclientrelationships.Scott Brown, Director,saysofthischange:“Clientsarenowmuchmoredemanding–theywanttobeabletolookintotheeyesofthepeopledoingtheirbusiness.That’sastepchangeandit’sgreatfortheindustryoverall,butcommerciallyorientedfinancestaffsuitablefortheseclient-facingrolesdon’tgrowontrees!”

Notallfinanceleadershavetheopportunitytostructureateamfromscratchtomakeitfitwithinthisnewenvironmentofopencommunicationsandbusinesspartnering.Alan Sievewright, EMEA Controller at BlackRock International Ltd,waspresentedwithsuchachance,andheexplainshowhewentaboutmakingthemostofit:“Myaimwastopickpeoplefromamixofbackgrounds,notjustfromtheaccountingprofessionorotherareasofthefinancialservicessectorsuchasthebanks.Peoplecomingfromindustryhaveagoodunderstandingoffinancialcontrolandwilloftencomeupwithabetterwayofdoingthings,whichcanbeappliedinafinancialservicessetting.Sofarit’sworkedverywellandpeoplehaveaskedquestionsandbouncedideasoffeachother.”

Inothercasesadaptingtonewwaysofworkinghashadamaterialeffectontheestablishedstructureofthefinanceteam. Ian Hughes at BBC English Regionsexplains:“Withinthefinanceteambusiness-facingskillshavebecomeessential;theresultisthatwe’veseenapalpablesplitbetweenthecommercialandtransactionalroleswithinourteam.”

Elsewhere,someofthetransactionalelementshavebeenoutsourcedtosharedservicecentresorthird-partyproviders,tofreeupbudgetforselectivehiringofprofessionalswhoarebetterabletomeettheteam’sstrategic/commercialrequirements.

Withinthatcontext,abalancedoesneedtobestruckintermsofmanagingindividualdevelopment,sothatskillsetsdon’tbecomelopsided.

Developing and retaining staff capable of thriving in the new environmentRetainingstarperformersisaperennialchallenge,andwhileeconomicuncertaintymadethatjobalittleeasierforawhile,theindicationsarethatthepressuremaybebuildingagain.Forexample,RobertHalf’sProfessional Hiring Indexrevealedthatalmostsixinten(59%)ofthe450seniorexecutivesitpolledwereconcernedaboutlosingtalentedstaff.

Atourroundtablestherewasalsoagreementthatgoodpeoplewillgetitchyfeetifnotgivensufficientreasontostayput.Thisispartlydowntothesheermarketabilitythattheirworkthroughoutthedownturnhasgivenmanyfinanceprofessionals.

“ We must continue to elevate the finance department out of solely crunching numbers.”

Roger Williams Commercial Director HulseLtd

> 59% of 450 senior executives polled are concerned about losing talented staff




Judie Green, UK Regional Financial Controller at Electrolux Professional Ltd,saysofthisdevelopment:“Oneeffectofpeoplesittingtightwithinthefinanceteamduringthedifficulttimesisthatpeoplehavenowbecomemulti-skilled–thatcouldproveaproblemwhentheyrealisehowimportantthey’vebecomeasaresult.”

Forthoseemployeeswhohavebeenpreparedtostepuptotheplate,thepaybackinjobsatisfactionhasbeensignificant.AsMark Tweed at GMAC UK plcnotes:“Evenpeopleatquitejuniorlevelsarelikingtheimpactthey’reabletomakewithinthebusiness.”

Butfinanceleadersalsoneedtobeawarethatthoseteammemberswhothrivedwithinthemoreintensepost-creditcrunchenvironmentareunlikelytorelishareturntoamorehumdrumexistence.Ian Plumb at Endless LLPsays:“AstheTrutexbusinesswentthroughconsiderableturmoil,therewasgreatpressureonthefinanceteam,butalotofthemenjoyedthechallengeandtheexcitementofsuchrapidchange.Nowwe’reintobusyseasonwithafocusonsalesandgrowth,wehavetoconsiderwhatwe’regoingtogivetheteamtodothatwillmaintainthatexcitement.Thebestpeoplewillneedtoseesomerealcareerprogressionaheadofthem.”

Inthepublicandnot-for-profitsectorsthepressuresmaybeevenmoreprofoundlyfelt,asindividualsandtheiremployersadapttoatoughercommercialenvironment.

James Money-Kyrle, Director of Finance and Support Services at St John’s Hospital,hasseenthisbegintotakeeffectalready.Hestates:“Thenot-for-profitsectorneedstobeweanedoffitsdependencyculture.Weneedachangedmindsetwherewefocusonimpactandoutcomes–deliveringwhatourfundersarelookingfor.That’sgoingtobeachallengeforasectorthathastraditionallybeensofterinculturalterms.”

AtWRVS, Director of Corporate Services Darren Xiberrasalsoseeschallengesonthehorizon:“Astheemploymentmarketpicksupandcompetitionfortalentincreases,thenot-for-profitsectorwillneedtostartthinkingaboutstructuringsomeofpeople’spayaccordingtooutcomes,”hesays.

Moneyremainstight,however,andthatwillremainthecaseevenwithinmanygrowthscenarios.Sowhileimprovingsalaryandbenefits–especiallyforthosewhomadeconcessionsduringthedownturn–areextremelyimportantretentionfactors,implementingthemisnotalwayspossible.

Inthosesituationsthepromiseofpersonaldevelopmentisvital.Mike Scott, Director of Finance at Post Office Financial Services,believes:“Lackofcareerprogressionisthekeycontributortohighstaffturnover,especiallyforpeoplewhohavedevelopedmorestrategicandcommercialattributesonlytofindtheiremployersunabletopaythemanymoreasaresult.”

Bifold Group Limited’s Neil McArthur arguesthatwhenthingsaregoingwell:“It’simportanttolookattheteamandensurethey’regettingsomethingoutoftheprocess.Thismaybeashareofthefinancialrewards,butitcouldalsobepublicrecognitionoftheircontributiontosuccesswiththeopportunitytoenhancetheirCV.”

Publicpraiseforajobwelldonecanneverbeunderestimatedasaretentiontool.Frequentencouragementwillkeepmotivationlevelshighaswellasincreasingemployeeengagement.Andofcourse,oneofthebestretentiontoolsisalsooneofthesimplest:sittingdownandtalkingwithemployeesabouttheircareeraspirationsandhowthesecanbemetwithoutthemhavingtoleaveyourorganisation.

“ It’s important to look at the team and ensure they’re getting something out of the process.”

Neil McArthur Chief Financial Officer BifoldGroupLimited




Guarding the bottom line

Marginscontinuetobesqueezedwhiledebtfundingremainsexpensiveanddifficulttoobtainformanybusinesses.

Thispresentsthefinanceteamwithseveralavenuesthroughwhichitcanmakeasignificantdifferencetothecorporatebottomline.Theyinclude:

• Drivingfurtherefficiencieswithintheorganisation

• Strikingtherightbalancebetweenriskandrewardforfutureinvestmentchoices

• Ensuringthebusinesshassufficientaccesstofunding

Driving further efficiencies within the organisationIngoodtimesorbadthere’snojustificationforwastingpreciousfinancialresources,sofirmsofallsizeshavelookedtotheirfinanceteamstospearheadefficiencydrivesthathavehelpedthemtobecomeleanerandfitterasaresult.

Evidencefromourroundtablessuggeststhejobisnotcomplete,though.Whenaskedtonominatethefinancialbarrierstogrowth,participantschose“higherbusinessexpenditure”and“difficultycuttingexpenditure”astheirtoptwoanswers.

AsAndrew PL Walls, Managing Director, Group Finance Company Secretary at Quayle Munro Limited,putsit:“Lookingtothefuture,Ithinkthere’sgoingtobearenewedfocusoncostandwhetherwearedoingthingsasefficientlyaswecan.”

Encouragingly,itappearsthatthedownturnmaywellhaveproducedagenerationoffinanceleaderswhohaveunrivalledcapabilitiestodrivetheirorganisationsdownthepathofgreaterefficiency.PeoplelikeJasvir Sanghera, Finance Director at Floors-2-Go,whoreveals:“I’velearnedmoreaboutmanagingcostsandcashinthepasttwoyearsthanatanytimeinthelast20.”

Meanwhile,David Jones, Financial Director at IGT-UK Group Ltd,emphasisesthegrowingreceptivitytofinance’sideasonefficiency.Hesays:“Therecessionhasmadebusinessesmoreawareofthebenefitsofhavinganeffectivefinancefunction.It’sthecompanieswithstrongfinanceteamsthathaveinvariablyperformedbestthroughoutthedownturnandwillcontinuetodosogoingforward.”

Efficiencydoesn’tjustmanifestitselfwithinapurelyfinancialarena.Itcanpercolateintootheraspectsofrunningasuccessfulbusiness,suchasmakingefficientuseofinformation.Keith Brown of Gerber Emig Groupexplains:“Ourbusinessinformationishighlycentralisedwithinthefinancefunction.Wetaketheinformation,analyseitandthentelleveryoneelsewhatishappening.Thissuitsanorganisationwheremostofourrevenueiscentredon10–15keycustomers,buttherearehugecomplexitiesaroundmanagingthesecontracts.Whentheoutsideiscomplex,theinsideneedstobeverysimpleandclearlydefined.”

Managing cash remains a critical issue as the economy picks up and the growth agenda becomes more widely established

“ Looking to the future, I think there’s going to be a renewed focus on cost and whether we are doing things as efficiently as we can.”

Andrew PL Walls Managing Director,

Group Finance Company Secretary QuayleMunroLimited




Ann Sillwood, FinancialController,DamarGroupLtd Frank Lewis,Chairman,AsiaCeramicsHoldingsplc

Nick Graham,InterimDirectorofFinance; Ian Hughes,ChiefOperatingOfficer,BBCEnglishRegions




Formanufacturers,significantlevelsofcapitalexpenditurecansometimesbesavedthroughprocessefficiencies.Max Campbell-Jones, Finance Director at Rencol Tolerance Rings,says:“Wetrytobecomebettermanufacturersthroughprocessinnovationandotherinitiatives,ratherthansimplyspendinglotsofmoneyonthelatestshinypieceofkit.Thatsaid,wewillsanctioncapitalinvestmentwhenit’stherightthingtodoandwilldeliverabetterproduct.”

Striking the right balance between risk and reward for future investment choices“Whencompetitorsarebeingcautious,that’sagoodtimetotakesomerisks,”saysPeter Cooke, Chief Executive, Bagnall & Morris Waste Services Ltd.

Everyroundtableproducedahealthydialogueontheimportanceofbalancingriskandreward.Itisanareathatmanyfinanceleadersclearlybelievetheirteamscantruly“own”intheyearstocome.

Martin Reynard at FST Technologies Limitedsays:“Thereisagenuineriskthatpeopletrytoundersellinordertobuildsalesnumbers,sofrommyperspective,finance’sroleisasmuchabouttryingtocontrolwhichcustomersoursalesteamgoesafter,becausemarginswillbesqueezedifwetrytocompeteinthewrongplaces.”

Thatsaid,theconceptthatfinanceistheretomanagegrowthratherthantostymieitisanimportantonetoemphasisetothosewithintheorganisationforwhomthequestfornewbusinessisprioritynumberone.Jim McAuliffe, Financial Director at Bristol Airport,thinks:“We’reapproachingwhatwillbequiteafascinatingtime.From2008to2010,theroleoffinancewasfairlysimple,itwasmostlyacaseofsaying‘no’.Butnowthingsaremorenuanced;financehasbecomemoreinvolvedindevelopingthebusiness.Innovationwillbekeyfromhereon–therearebigopportunitiesforbusinessesthatareinnovative.”

Forcompanieslookingtogrowbybroadeningtheirinternationalhorizons,choosingtherighttargetmarketsiscrucial,giventhedifferentspeedsatwhichcountries–andevenmarketsegmentswithincountries–arerecoveringfromthedownturn.Heretheanalyticalcapabilitiesofthefinanceteamcancometothefore,asNick Isaac, Finance Director at WB The Creative Jewellery Group Ltd,pointsout:“Weknowwe’regoingtotakeabeatinginsomemarketsbutotherswillbehighlyfruitful.Soit’simportanttodeterminethemarketswhereinvestmentwillleadtothegreatestbusinessgrowth.”

Onceapotentialmarkethasbeenidentified,financecanplayamajorroleinsmoothingthepathtoentry.Gordon Hutcheson of Regenersis (Glenrothes) Ltdexplains:“WebelievewehaveaverygoodsolutionfortheAmericanmarketsowe’recurrentlygoingthroughtheprocessofdecidingthebestmethodtoenterthatmarket,includingissuessuchaswheretomanufacture,thelogisticsofgettingproductsintotheUSmarketandthesizeofthesupportnetworkontheground.Thefinanceteamisassistingthiswholeprocessatahighlevelwithinthegroup.”

Whilecarefulplanningcanreducethecostofentrytoamarket,someelementscannotbesidestepped.Grant Findlay, Group Finance Director at Havelock Europa Ltdnotes:“Therearedifferentregulatorycontrolsineveryjurisdictionintheworld,soputtinginplaceteamsandmechanismstodealwiththemisanoverheadthatcomeswitheveryattempttogointoanewmarket.ButweneedtogointothosemarketsbecauseconditionsintheUKaregoingtobetoughforquitesometimeyet.”

“ We know we’re going to take a beating in some markets but others will be highly fruitful.”

Nick Isaac Finance Director WBTheCreativeJewelleryGroupLtd




Formanufacturers,thechallengesofgrowthtendtohavesomecommonalityregardlessoftheproductinvolved.Richard Bee of Diageo Scotland Ltdremarks:“Wehavearealopportunitywiththeemergingmiddleclassindevelopingeconomies,butitbringsitsownchallengesintermsofthebestproductstomeettheirtastes.Thereisaparticulardemandaroundaffordableluxuryandthatishavinganimpactonthecomplexityofourmanufacturingprocesses,withgreaternumbersofdifferentproductsrunningdownourlines.”

Ensuring the business has sufficient access to fundingOneofthetopicsthatstirredupmostdebateatourroundtableswastheissueoffunding.Withbanksandbusinessesatseveralmeetings,itwaspossibletohearfrombothsidesofthefinancingequation;viewswerealsogivenonhowbesttomanagetheirrelationshipswithfinancierstokeepthemoneyflowingin.

Aswithotheraspectsofthegrowthagenda,thefundingenvironmentwasseenasanotheropportunityforCFOs/FDstomakeagenuinedifference.Robert Lucas, Finance Director – Projects at Kerry Foods,says:“Thetougherfinancingclimateforcesfinanceleaderstoreallyanalyseeachinvestmenttomakesuretheexpenditureisjustified.Thosethatareworthwhileshouldnothavedifficultyattractingfunding.”

Frank Lewis of Asia Ceramics Holdings plctakesthisonestepfurther,adding:“…there’splentyofmoneyaroundforcompaniesthatdobusinessinthesectorsthatareindemand,suchascommoditiesandrenewableenergy.Theansweristomakesurethatyou’reaheadofthecurveintermsofwhatlinesofbusinessareinvogueandgrowing;alsothatyouhavetherightbackingbehindyou,whetherit’sequityorbankborrowings.”

Someparticipantsreportedseeingareturntoamorerelationship-drivenfinancingenvironment–withlessmoneygenerallyavailabletolend,itseemsnaturalthatbankerswillwantmorecertaintyaboutthesecurityofeachloan,sowillaimtogetclosertotheircustomers.Withthatinmind,Ian Plumb of Endless LLPsharesthisadvice:“Thepartnershipdynamicisveryimportanttolenders.Keepthemcloseandcommunicateregularly…treatbanksasstakeholdersandbringthemalongwithyou,becauseyou’llfindifyou’vegotagoodstorytotell,there’sstillmoneyavailableatgoodrates.”

KnowledgewasseenasoneoftheFD’smostpowerfulbargainingtoolsbyGary Slawther, Treasury Director at Financial Risk Advisory Limited.Heargues:“It’svitaltohaveasolidgraspofyourbusinesswhendealingwithpotentiallenders.Iftheyaskyouawkwardquestionsandyoucan’tcomeupwiththeanswers,thenyou’reunlikelytogetthemoneyyouneed.”

Fromthebanks’perspective,Muj Malik, Chief Financial Officer of Dexia Bankhasthistoadd:“Liquiditystillremainsamajorissueforbanks.We’veseenarecoveryinshort-termliquiditybutthemarketforlongertermliquidity,forexample,tocoverinfrastructureprojects,isstillveryrestrictedandwillonlycomebackaspartofabroaderincreaseinconfidenceaswellasopeningofbondmarketsagain.”

“ It’s vital to have a solid grasp of your business when dealing with potential lenders. If they ask you awkward questions and you can’t come up with the answers, then you’re unlikely to get the money you need.”

Gary Slawther Treasury Director FinancialRiskAdvisoryLimited




Prospering through process improvement

Thedebatecentredonthreequestions:

• Whatisdrivingtheneedforadditionalreporting/financialanalysis?

• Howwillthefinanceteamgearuptosupportthisextraworkload?

• Howcantechnologyhelpthefinanceteamdo“morewithless”?

What is driving the need for additional reporting/financial analysis?Accordingtoourround-tableparticipants,businessesintheUKhavenowfullywokenuptothepowerofinformation.Forexample,Neil McArthur at Bifold Group Limitedstates:“ThankstothedevelopmentofmorecomprehensiveKPIs,wenowunderstandmoreaboutwhatdrivesourbusiness,sowecantakerisksinamorecontrolledmanner.”

ThatviewisechoedbyAnn Sillwood, Financial Controller at Damar Group Ltd,whoadds:“Aswelookaheadtogrowth,weneedtohavetheITsystemstosupportthat–inparticular,systemsthatwecanusetoanalyseourbusinesstoseeexactlywhereourmoneyiscomingfrom.”

Oneofthereportingtasksthatwassaidtohavegrownmostsubstantiallyisfinancialforecastingandre-forecasting.Catherine Bland, Finance Director at Menzies Distribution Limited,hasseenthiselementofherteam’sresponsibilitiessnowball.Sheremarks:“Weneedtoputextraresourceintothefinancialplanningandanalysissideofthebusiness.There’snowmuchmorefocusonre-forecasting,lookingatthenumberseachmonthsowecanunderstandwhat’sgoingtohappenfortherestoftheyear.Wearealsomoreengagedwithlongertermstrategicplanning,gettingintogreaterdetailandexploringdifferentscenarios.”

Onthesametheme,Adam Hurst, Deputy Chief Financial Officer at Entertainment One Group,adds:“Fromaplanningperspectiveweplacealotofemphasisonforecasts,andwe’rereliantonourcommercialcolleaguestohelpassessthepotentialreturnsfromeachopportunity.”

Sometimesthevolumeofreportinghasbeendrivenbygrowthinthe“customerbase”forinformation.Round-tabledelegateshighlightedseveralstakeholdergroupsthatnowhavegreaterappetiteforreporting,includinginvestors,banksandregulators.Thomas Syme, Commercial Finance Manager at BAA Edinburgh Airport,hashadtocopewiththischange.Heexplains:“Alotofpeopletalkaboutrationalisingreporting,butwe’vejustexperiencedanexplosioninreportingbecauseeveryonewantsadifferentreportforadifferentreason,whetherit’sinternallyorexternalstakeholders.”

Thebalancingofriskandreward–asthisreporthasalreadyhighlighted–isbecomingakeytaskforthefinancefunction.Hereagain,analysisandreportingcanplayamajorpart.Mark Llewellyn, Chief Financial Officer at L B Plastics Ltd,saysofthisdevelopment:“Themajorchangeininvestmentdecision-makingistheleveltowhichrisksarenowconsidered.Evenquitebolddecisionsarenowbasedonamuchbetterunderstandingofthepotentialupsideanddownside,becausebusinessescan’taffordtogetitwrong.”

Whilehavingmoreinformationtohandisclearlyabenefittostrategicdecisionmaking,itdoesn’tprovideguaranteedsolutions,andthefinanceleadercanstilladdsignificantvaluethroughmakingtherightjudgementcalls.Keith Brown at Gerber Emig Groupsaysofthisresponsibility:“Inafast-movingmarketplaceit’srarelypossibletohavecompleteanddefiniteinformation,sowhenweneedtocomeupwithananswer,wehavetomakethebestbalanceddecisiongivenwhatweknowofthevariables.”

A recurring theme at the 2011 Executive Round-Table Series was the growing appetite for financial information to guide strategic decision making within the organisation

“ From a planning perspective, we place a lot of emphasis on forecasts, and we’re reliant on our commercial colleagues to help assess the potential returns from each opportunity.”

Adam Hurst Deputy Chief Financial Officer EntertainmentOneGroup




“ The major change in investment decision-making is the level to which risks are now considered.” Mark Llewellyn, ChiefFinancialOfficer,LBPlasticsLtd




Jim McAuliffe,FinancialDirector,BristolAirport

Grant Findlay, GroupFinanceDirector,HavelockEuropaLtd;Alan Sievewright,EMEAController,BlackRockInternationalLtd

Keith Brown,GroupFinanceDirector,GerberEmigGroup




How will the finance team gear up to support this extra workload?“Thefinanceteamisundoubtedlymoreimportanttotheorganisationintoday’sdifficulttimes,becausemanagementhasagreaterneedfornumbersandinformationthanwasthecasewhenourmarketwasgrowing.However,itcanbechallengingtocopewiththatdemandwhenwe’retightonresources,”saysJasvir Sanghera, Finance Director, Floors-2-Go.

Withlimitedflexibilityintermsofheadcount,financeleadersatourroundtablesareinsteadlookingtobuildgreaterefficiencyintotheirprocessesaswellasstreamliningwaysofworking,tomeettheescalatingdemandforinformation.

Ifthereisaparadigmofprocessimprovement,itwouldprobablybesomethingakintotheexperiencereportedbyPhil Price, Chief Financial Officer – Europe at Reader’s Digest.Hesays:“Throughbetterprocessesandsystems,we’recommoditisingandreducingthecostofthetransactionalstuff,whichthenempowersourpeopletogetclosertothebusinessandtoprovidethemwiththeinformationtheyneedtohelpdrivethebusinessagenda.”

Hiringspecialistfinancialconsultantscanalsoprovideshort-termaccesstoskills,aswellasenablingfresheyestolookattheteam’sday-to-dayactivitieswithaviewtohighlightingactivitiesthatcanbedonequickerormoreefficiently.Thiswasseenasparticularlybeneficialtofinanceteamswherethemajorityofemployeeshadsattightduringthedownturn,leadingtoaninabilitytofreshentheteamthroughnaturalturnover.

There’salsopotentialtorationaliseorscalebackotherareasoftheteam’sworktofreeupcapacity.Martin Reynard of FST Technologies Limited,notes:“Overthepast10yearswe’veseenasteadyexpansionintheamountofinternalprocessandadministrativeworktakenonbythefinanceteam.Nowwe’rereversingthatprocessbystoppingeverythingwedothatdoesn’taddvalue,isn’tessentialorisduplicatedelsewhere.”

Wherenewfinancialsystemshavebeenputinplace,thefocusmustswitchtogettingthemostoutofthem,aswellasdecidingtheextenttowhichaccesstotheinformationplatformsisdistributedthroughouttheorganisation.Therearecriticaldecisionstobemadehere,asIan Webb, Finance Director at Wilts,pointsout:“We’vemadeourITinvestmentandwenowhaveapowerfulplatform,butthekeyistogettheinformationintothehandsofthepeoplewhocanuseittomakeinsightfuldecisions.Insomewaystheeasiestwaytodothisistobuildawarenesswithinthefieldsooursalespeoplecanaccesstheinformationdirectly;however,thatwillinevitablyproducevariableresultssincenoteveryonehasthesameaptitudeforthissortofanalyticalwork,sothere’sstillaneedtoinvestcentrallyinaBusinessIntelligencecapability.”

“ Over the past 10 years we’ve seen a steady expansion in the amount of internal process and administrative work taken on by the finance team.”

Martin Reynard Finance Director FSTTechnologiesLimited




How can technology help the finance team to do “more with less”?Whenround-tableparticipantswereaskedtolisttheprioritiesfortheirorganisationsastheyprepareforgrowth,ITwasthejointsecondmostpopularanswer,quotedby40%ofrespondents.

Technologycanmakeasignificantcontributiontowardsthefinanceteambeingabletomeetthenewdemandsbeingplacedonit,accordingtoNeil Easson, Head of Finance – International Banking at Lloyds Banking Group.Hecomments:“We’relookingtotransformoursystemslandscape,togivepeoplebettertoolsintermsofmanagementinformation.”

Fortheirpart,financialtechnologyprovidersaregearinguptotakeadvantageofthismarketopportunity.InitsTechnology M&A Insightspublication,PricewaterhouseCoopers(PwC)states:“Agreaterfocusontransparencyandriskmanagementiscontributingtoalargeincreaseinthevolumeoffinancialdatabeingprocessed,helpingfueldemandforintegratedsoftwaresolutions…Forthesoftwareproviders,thereisanopportunitytocapturesynergiesinafragmentedmarketthatisripeforconsolidation,managingthecostbasedownwardsandfocusingonefficiencies.”

Anothertechnologicalinnovationbeginningtogaintractioniscloudcomputing–wherebyusersgainaccesstothecomputingpoweranddatastoragetheyneedthroughtheinternetinsteadofrelyingonin-houseITfacilities.

PwC’sTechnology M&A Insightssaysofthistrend:“TheprospectofsignificantcostsavingsandabilitytohandlelargedatavolumesismakingCorporatestakenoticeandbecomemoreopentoexploringthecreationofaprivateCloudorofoutsourcingtopublicCloudproviders;payingathirdpartytohosttheirdataandapplicationsandtakeresponsibilityforitssecurity.Whileinitialinterestmaybeconfinedtolargercompanies,theSMEsectorcanalsoachievesignificantbenefits,particularlyfromthepublicCloud.”

Forfinanceleadersmanagingtightbudgets,thepotentialcostsavingsfrom“outsourcing”technologyinthiswaycannotbeignored.ThisisespeciallytrueforCFOswhoalsohaveadditionalresponsibilityformanagingIT,asituationthat’snotuncommonintheSMEsector.

“ We’re looking to transform our systems landscape, to give people better tools in terms of management information.”

Neil Easson Head of Finance – International Banking LloydsBankingGroup




Conclusion

Anoverwhelmingmajorityaimtobepartofagrowthstory–manyalreadyare–andthey’rebusypreparingthemselvesandtheirteamstosupportthegrowthagenda.

Thattherewillbechallengesinbringingtheirteamswiththemisnotinquestion.Somefinancestafffindthefunction’smoretraditional,“backroom”rolemoreappealing;othersarekeentogetclosertotheactionbutneedfirsttobearmedwiththeskillsandcommercialbehavioursthatwillenablethemtodoso.

Thefinanceteamwillbelookingtoitsleadershiptoguideitintothisbravenewworld:theCFO/FDmustshowapassionforbusiness,activelyparticipateindevelopingcorporatestrategyandstrivetobreakdownthebarriersbetweenfinanceandtherestoftheorganisation.

Atthesametime,cashremainskingevenforbusinessesingrowthmode.Thefinancefunctionmustensurethatstrivingforgrowthdoesn’t“breakthebank”.Inrealitythismeanscarefullyassessinggrowthopportunitiesanddiscardinganythatmightsoakuptoomuchcashorwouldnotachievethesizeandspeedofpaybackthatbanksandothersourcesoffinancearepresentlywillingtoback.

Finally,itwasclearthattechnologyisgoingtoplayamajorpartwithinthegrowthagenda,particularlyforthoseorganisationswhereheadcountremainstight,andsothere’sarequirementtodo“morewithless”.Innovationssuchascloudcomputingremainintheirinfancy,buttheforward-lookingfinanceleaderwillalreadybeinvestigatingtheirpotential,sinceanycompetitiveadvantageislikelytorestwithearlyadopters.

Lookingtothefuture,wherenextforthegrowthagenda?Judgingbythewiderangeofeconomicpredictionsmadeinourroundtables–whichfluctuatedfromadipbackintorecessionthroughtoanOlympics-inspiredresurgenceinconfidence–itseemsthebestadvicemightbetoprepareforalleventualities!Whatisnotindoubtisthatbusinessgrowthremainsanachievablegoalfororganisationsabletoformulatetherightstrategyandworksingle-mindedly,andcollectively,toachieveit.

Forthefinanceteam,theopportunitytomakeamajorcontributiontothatcollectiveeffortisonethatmustbegraspedwithbothhands.

In uncertain times for the UK economy, it was heartening to encounter the positive attitudes of the finance and business leaders who attended our 2011 Executive Round-Table Series




AttendeesRobert Half Executive Round-Table Series 2011

Alison Jones Finance Director SSLInternational

Andrew Wilkins Finance Director VolkerRailGroup

David Jones Financial Director IGT-UKGroupLtd

Gary Slawther Treasury Director FinancialRiskAdvisoryLimited

Ian Plumb Associate Director EndlessLLP

Jill Barnard-Blom Chief Accountant BritishCyclingFederation

Jonathon Parker-Stafford Finance Director ManagedSupportServices

Mark Bullough Finance Manager GleesonCapitalSolutionsLtd

Neil McArthur Chief Financial Officer BifoldGroupLimited

Peter Cooke Chief Executive Bagnall&MorrisWasteServicesLtd

Robert Lucas Finance Director – Projects KerryFoods

Manchester

Andrew Churn Strategic and Commercial Leader RSAGroup

Boyd Robinson ESILtd

David Robson Finance Director

Ian Hughes Chief Operating Officer BBCEnglishRegions

Jasvir Sanghera Finance Director Floors-2-Go

Judie Green UK Regional Financial Controller ElectroluxProfessionalLtd

Kevan Taylor Finance Director UKAthleticsandEnglandAthletics

Mark Lee Chief Financial Officer CalthorpeEstates

Mark Llewellyn Group Chief Financial Officer LBPlasticsLtd

Nick Graham Interim Director of Finance

Nick Isaac Finance Director WBTheCreativeJewelleryGroupLtd

Nigel Gilpin Interim Finance Director

Richard Neale Finance Director HadleyIndustriesPLC

Roger Williams Commercial Director HulseLtd

Scott Brown Director

Sue James Financial Planning Director NordAngliaEducationGroup

Birmingham

Alan SievewrightEMEA ControllerBlackRockInternationalLtd

Andrew PL WallsManaging Director, Group Finance Company Secretary QuayleMunroLimited

Catherine Bland Finance Director MenziesDistributionLimited

Gordon Hutcheson Financial Controller Regenersis(Glenrothes)Ltd

Grant Findlay Group Finance Director HavelockEuropaLtd

Innes Chalmers Finance Director ChoicesCommunityCare

Martin Reynard Finance Director FSTTechnologiesLimited

Neil Easson Head of Finance – International Banking LloydsBankingGroup

Richard Bee Finance Director – Diageo Europe Supply DiageoScotlandLtd

Thomas Syme Commercial Finance Manager BAAEdinburghAirport

Edinburgh




Patrick Wilson Director of Finance Simplyhealth

Piran Scott Commercial Finance Controller Lifetime

Trevor Morland Finance Director ClarkeBond

Victoria FitzGerald Finance Director BristolOldVicTheatreSchoolLtd

Will Godfrey Strategic Director – Corporate Services BristolCityCouncil

Adam Hurst Deputy Chief Financial Officer EntertainmentOneGroup

Ashwin Gadher Finance Director VaultexUKLtd

Baljit Johal Finance Director EuropeanCareGroup

Frank Lewis Chairman AsiaCeramicsHoldingsplc

Gavin Fox Chief Financial Officer Ansbacher&CoLtd

Jayesh Pankhania Financial Controller VallarPlcGroup

John Jack EMEA Controller BNYMellon

Jonathan Wyatt Managing Director Protiviti

Linda Foster Finance Director – UK region and Economist Online/Digital Editions TheEconomistGroup

Martin Saurma-Jeltsch Finance Director CEME

Muj Malik Chief Financial Officer DexiaBank

Neil Stevenson Executive Director of Brand ACCA

Nigel Addison Smith Finance Director ECGD

Phil Price Chief Financial Officer – Europe Reader’sDigest

Ray Perry CIMA

Rolfe Lakin Chief Financial Officer – Specialised Group Assets NationalAustraliaBankLimited

London

Alan Lunt Finance Director

Amelia Price Financial Planning Director (SW&W Region) FirstGroupplc

Andrew Lambert International Finance Director OmnicareClinicalResearch

Ann Sillwood Financial Controller DamarGroupLtd

Darren Xiberras Director of Corporate Services WRVS

David Bloomer Corporate Services Director RCUKSSCLtd

Ellis Organ Financial Director CliftonAssetManagementPlc

Graham Papworth Finance Director CMGroup

Ian Webb Finance Director Wilts

James Money-Kyrle Director of Finance and Support Services StJohn’sHospital

Jim McAuliffe Financial Director BristolAirport

Keith Brown Group Finance Director GerberEmigGroup

Mark Tweed Chief Financial Officer GMACUKplc

Matthew Wakerley Portfolio Finance Director RevelationBusinessSolutionsLtd

Max Campbell-Jones Finance Director RencolToleranceRings

Mike Scott Director of Finance PostOfficeFinancialServices

Bristol



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Documents

The Finance Team Setting the Business Growth Agenda - … · Robert Half Executive Round-Table Series 2011 The Finance Team Setting the Business Growth Agenda roberthalf.co.uk/roundtable