In CFO, Finance, News

PE People Moves: January 2019

The following appointments have all taken place during the last few months, covering the full breadth of the wider Private Equity marketplace. If you would like to discuss the PE marketplace or how Norman Broadbent can help your business, please contact: Kristian Lee at kristian.lee@normanbroadbentinterim.com or on +44 (0)  20 7484 0119

  • LDC has invested in British Waterways Marinas Limited(BWML), the operator of inland marinas in the UK, backing the existing management team. As part of the transaction, Gary Fletcher will join the board of the business as Non-Executive Chairman.
  • London, 21 January 2019 – Equistone Partners Europe(“Equistone”), one of Europe’s leading mid-market private equity investors, today announces the promotion of Andi Tomkinson to the position of Partner in its Manchester office, the appointment of Philipp Gauß as Associate in Munich, and six further promotions across its offices in France, Germany, Switzerland and the UK. These developments will bolster Equistone’s investment team and serve to reflect the firm’s strong performance and commitment to supporting the internal progression of its team.

 

  • Fund placement agent and secondary transactions advisor AXON Partners has appointed William Gilmore as a partner in the firm’s UK office.

 

  • Palatine Private Equity has made promotions across its UK business following one of the firm’s most successful and active years.

 

  • Andy Strickland, who is based in the London office, has been promoted to Senior Investment Director.

 

  • In the firm’s Manchester office, Charlotte Ashton has been promoted to Senior Business Development Director, whilst Tom Wildig will take the role of Investment Director.

 

  • Houlihan Lokey has named Christian Keller and Ann Sharkey to its European financial sponsors group.

 

  • Knowledge industry focused private equity firm Leeds Equity Partners, LLC has announced it has promoted Eric Geveda and Christopher Mairs to Managing Director and Kevin Malone and David Neverson to Principal, the company said.

 

  • PANTHEON Pantheon, the private equity investor, has announced the promotion to partner of two Pantheon investment team principals: Imogen Richards, global head of investment structuring and strategy, London, and Kevin Dunwoodie, secondaries investment team, San Francisco. The firm has also named Pantheon partner Robin Bailey, pictured, as chief operating officer.

 

  • 3i announces the hire of Simon Andersen as Digital Director, as well as five further hires across its Private Equity business in Europe and North America.

 

  • Simon Andersen will be based in London, where his role will be to drive digital strategies in 3i’s portfolio companies across Europe and the US as well as in the evaluation of new investments. He joins 3i from Marks and Spencer, where he was Head of Digital International since 2014. Prior to this, Simon was Head of Online Innovation at Woolworths (Australia) for two years, and he co-founded a data start-up (Userneeds) in 2008. He began his career at the Boston Consulting Group in 2002.

 

  • Zack Shaftal has joined as a Senior Associate based in New York. Previously, Zack worked as an Associate at Madison Dearborn Partners where he focused primarily on investments in the industrial, consumer and business services sectors.

 

  • Jake Behrman has also joined our New York office, as an Associate. Jake was previously at Metalmark Capital from 2016 to 2018, prior to which he was at Morgan Stanley in the Global Healthcare Investment Banking Group.

 

  • Flore Van Schaik has joined as an Associate in Amsterdam. Flore was previously an Investment Banking Analyst at JP Morgan in London, where she focused on M&A; transactions in the Benelux region and on the TMT sector.

 

  • Inka Berglar has joined as an Associate in Frankfurt. Inka was previously an Investment Banking Associate at Deutsche Bank in Frankfurt and London, where her focus was on M&A; and ECM transactions across sectors.

 

  • Jacques-Henry Grislain has joined as an Associate in Paris. Previously, Jacques-Henry co-founded Cambridge Crops, a biotechnology company based in Boston, US, after graduating from the Massachusetts Institute of Technology. From 2011 to 2015 he worked at Astorg, where he focused on the Healthcare sector.

 

  • Kasperi Putkonen (ex-Goldman Sachs) and Rachel Matharu (Acanthus Advisers) have both joined AnaCap as directors, collectively bringing with them more than a decade of experience in the financial services sector.

 

  • Living Bridge announces the appointment of Tommaso Crackett as investment director in the UK mid-market team.

 

  • Mike Smith, an expert in financial services and private equity, has joined Bain & Companyas a partner in the firm’s Private Equity practice in Europe, the Middle East and Africa (EMEA). He is based in Bain & Company’s London office.

 

  • DEBENHAMS’ managing director Ross Clemmow has quit to join private equity house Bridgepoint.

 

  • UK-based private equity firm Permira has appointed Ignacio Faus as Chief Operating Officer (COO) of the company. Ignacio Faus will become Permira’s COO, a position that did not exist in the company until now, on January 1, 2019

 

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January 23, 2019
In News

Discovering Next Generation Leaders

When identifying any group of potential future leaders, naturally, it is the conventional organisational and commercial needs that dominate, as do the particular sector or functional requirements of the role. Given that most of us would accept we are experiencing a period of very rapid and accelerating change, many also track parallel social and employment practice changes.

There are many reviews of generational similarities and differences focussed on distilling broad trends, in broad numbers, across broad age-ranges. Here is one such example

Boomers Gen X Millennials
Born 1943-1960 1960-1980 1980-2000
Values Challenge; ambition; achievement; power Leadership; freedom; truth; independence Safety; loyalty; security; hope
Work Preferences and Style Politically savvy; competitive environment; will challenge authority for feedback;

opportunity seekers; frequent job changers

 Work-life balance; sceptical of authority;

self-reliant; oppose hierarchy; innovative; intentional and frequent job changing

 Diverse culture; collaborative;

wants meaningful work;

fun at work;

flexibility
Meeting Career Needs Define promotional opportunities;

annual feedback on progress with documentation

 Define career path expectations;

real time feedback on progress

 Define career path opportunities;

real time feedback on progress and alignment

 

Most view the above with a critical eye and question what, if anything, is different about the next generation of future leaders in 2019 compared to previous generations? Furthermore, beyond anecdotal observations, is there reliable evidence to show there are any trends that shape the context for identifying, selecting, deploying and developing the next generation of leaders?

The prevailing evidence suggests six underlying trends that will colour how the next generation of leaders is identified, developed and motivated. Compared to other generations, there is more of a focus on personal development, fit with prevailing organisational culture, greater awareness of diversity, employers who demonstrate progressive thinking, and an eclectic approach to enhanced communication and knowledge sharing. Digitalisation and technological developments are likely to expand exponentially over the next few years. However, it is well established that the driving factors here are people related (such as cultural predisposition, digital awareness, digital curiosity, preparedness to innovate etc.).

The focus within personal development has changed. Development opportunities are likely to be seen as more valuable by the next generation of leaders. They are more likely to take advantage of coaching and mentoring compared to previous generations. Why? Because they see it as a way to learn new skills whilst benefiting from their mentor’s individual experiences. Additionally, much more and varied information is available to these next generation leaders compared to their predecessors.

The next generation of leaders are more likely to have greater cultural awareness and sensitivity to their own and others’ fit. This can include attitudes to minorities/workplace diversity, promotion or growth opportunities, feeling valued, and work-life balance. There is convincing evidence emerging that it is these factors (rather than other traditional, promotion-related reasons) that encapsulate the reasons why current future leaders are leaving taking their talent with them.

The next generation of leaders is an attractive prospect to forward-thinking businesses looking at introducing new technologies, strategies, concepts and products. This can be seen not only in the number of successful start-ups but also in how innovative companies seem to attract the most talent. There are many new companies that are now making more effective products which in turn are able to be used to create solutions that are vastly different from those that might have been produced a generation ago.  It is currently hard to avoid a media focus on self-steering cars or robotised automated payment systems – products that require sophisticated software that was not available in previous years (and which is still developing).

Finally, there is effective communication which has become a big topic in recent years. Again, technology is the driving factor. Traditional skills such as influencing persuading and networking (i.e. the traditional human factors) are no less important. However, most would agree that being connected on a global basis 24/7 like no other generation makes the nature of getting things done qualitatively very different. Developing next generational leaders will mean getting this mix right in ways that as yet may not be clear, and which may well change with time.

Technological advances, changes, developing social trends, and the cut and thrust of commercial life are nothing new. However, it does look like we are at something of crossroads in the pace, direction, and form of current and future developments. Consequently, these, along with the changing expectations of the current and next generation of emerging leaders, means a different emphasis and approach are necessary if we are to harness the potential we think we currently see in them.

If you would like to find out more about how we can help you, or discuss a specific assignment, please do not hesitate to contact Dr. Stephen Sloan on +44 (0) 0207 484 0000 or via stephen.sloan@normanbroadbent.com  for an initial confidential discussion.

Church, A. (2018). The Future of C-Suite Potential in the Age of Robotics. People & Strategy, 41(1), 48-50.

Hickman, C. R., & Silva, M. A. (2018). Creating excellence: Managing corporate culture, strategy, and change in the new age. Routledge.

https://www.forbes.com/sites/walterloeb/2017/12/29/retail-trends-for-2018/#3ed4f90a4eca

https://www.inc.com/john-eades/executives-are-paying-close-attention-to-these-5-leadership-trends-in-2019-are-you.html

https://www.obforum.com/lederskap/leadership-trends-2019

https://www.obforum.com/lederskap/reverse-mentoring

https://www.unboxedtechnology.com/2019-training-trends/

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January 23, 2019
In Interim Management, Supply Chain

The Brexit Effect

Unsurprisingly, Brexit is having a major impact on consumer and retail businesses, who often have complex supply chains. In the absence of a deal, such businesses are facing uncertainties over which rules will or will not apply. A further difficulty relates to concerns over UK growth. Some larger organisations have reportedly delayed investment decisions, and are considering relocating jobs outside of the UK.

Aside from potential future trade ‘blockages’ and increased regulatory barriers between the UK and EU, a significant risk to supply chain management could well come from another factor – time. Border congestion, additional documentation and customs checks will slow the flow of goods, which in turn will lead to increased shipping times (inbound and outbound), creating issues for time-sensitive industries.

Much will depend on whether the UK leaves both the Customs Union and Single Market (a so-called hard Brexit), or remains closely aligned to the EU Single Market and Customs Union (a so-called soft Brexit). Both scenarios will impact existing supply chains making them vulnerable to border checks and congestion. Identifying the best way to minimise the impact of Brexit on the supply chain is easier said than done. So what measures can retail and consumer organisations take?

  • Consider opportunities andrisks, and use this to inform critical business decisions by categorising these as either short or long term
  • Identify alternative routes for your EU-UK shipping connections
  • Review sales activity on a periodic basis. Check if the mix of sales has changed, for example across channels, categories or geographies
  • Communicate with, and review your supplier base. Companies should actively communicate with their suppliers and review their preparedness in terms of business continuity management, and either support or change high risk suppliers
  • Keep abreast of new regulatory and border developments. As EU-UK negotiations progress, monitor key developments to understand how specific sectors may, or may not, be included in a future trade agreement.

As a Director within Norman Broadbent’s Supply Chain & Procurement Practice, I’m working closely with clients to identify and engage with senior supply chain professionals, who can be deployed at short-notice, on an interim basis, to help minimise the impact of Brexit, set up new agreements, and implement lean supply chains.

If you would like to learn more about how Norman Broadbent can help your business minimise the impact of Brexit, and manage/mitigate associated risks please do not hesitate to contact me, Neal Mankey, for an initial confidential discussion via neal.mankey@normanbroadbentinterim.com or  +44 (0) 20 7484 0116

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January 23, 2019