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FD confidence returns to the TMT sector

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11th Dec 2013
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Confidence among finance directors is returning to the technology, media and telecommunications (TMT) sector, according to a new report from BDO.

As revealed at the Hot 20 FDs in TMT 2013 awards at the Haymarket Hotel in London, the report said a growing number of FDs are overseeing M&A activity and expanding into foreign markets.

Of the 20 FDs recognised in this year’s awards, nearly all have led at least one merger or acquisition over the past year, with one FD overseeing 13 acquisitions in the last 20 months.

Julian Frost, BDO’s national head of TMT, said: “The most successful FDs must be more than simply a ‘numbers person’. The role is now much more about presenting to investors and preparing for growth rather than keeping the business in hibernation.

“Increased M&A activity and international expansion demonstrate that confidence is returning to UK FDs and they are focusing on getting their companies to thrive, not just survive.

The top ranking FDs also demonstrated versatility and are performing a number of different roles, including strategic director, HR manager, head of IT, compliance officer, right-hand man to the chief executive and even facilities manager.

The report also revealed that while most of this year’s Hot 20 FDs are London-based, a growing number outside the capital are seeing a return of confidence and growth.

BDO’s 20 high achieving and talented FDs in the TMT sector over the past 12 months are:

  • Rob Bernstein, TIM
  • Paul Bosson, Masternaut
  • Adam Brown, The Access Group
  • Mark Brownlie, The Foundry Visionmongers
  • Ian Haythornthwaite, BBC North
  • Tim Holbrow, Procserve
  • Stephen Joseph, Ocean Outdoor
  • Simon Latarche, Lbi London
  • Stuart Layzell, Fourth
  • Sara Marshall, Mono Global
  • Alan Martin, Momondo
  • Nilesh Pandya, Skrill
  • Duncan Payne-Shelley, Novatech
  • Fraser Park, former FD of Ubiqsys
  • Susan Robertson, Velocys
  • Ronnie Smith, Six Degrees Group
  • Steve Smith, Daisy Group Plc
  • Tim Taylor, Cellhire
  • John Thompson, Infinity SDC
  • Mark Wanstall, Essence

The list includes FDs who predominantly work in technology companies rather than telecoms or media, with cloud-based data management being the most common type of company featured.

Among those shortlisted, one has provided the strategic impetus behind new flagship products which saw company turnover increase by 16% in one year; one turned a loss-making company into a £30m-a-year revenue raiser in the space of four years; and another saw through a US$310m company sale.

The 20 FDs commended were all nominated by independent advisers and independently judged by a panel.

BDO also recently said business confidence was improving across the board and that the UK economy was set for robust growth in first half of 2014.

Business confidence has increased for the tenth consecutive month, which suggests the economic recovery will continue to gather pace into 2014.

BDO’s Optimism Index increased from 101.7 in October to a 43-month high of 103.1 in November, taking it comfortably above the 100.0 mark that indicates the economy’s long-run average growth rate.

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