Partner Article

Tait Walker partner achieves IFT accreditation

Europe’s leading representative body for accredited turnaround and transformation professionals has welcomed a partner from Newcastle-based Tait Walker into the fold.

Allan Kelly has become a member of the Institute for Turnaround (IFT) – an independent non-profit company – after exceeding the rigorous accreditation process.

Despite being the only accredited turnaround organisation, total membership is only 372 reflecting the challenging selection criteria. The selection process requires each individual to demonstrate a minimum of 18 months working with companies through turnaround or challenge with supporting case studies, and to then face a panel interview from peers.

Heading up the restructuring and advisory team which provides advice to troubled companies and their stakeholders, Allan is now in his thirteenth year with Tait Walker. He has experience across numerous sectors including transport, engineering, renewables, service industry and healthcare.

Over the last ten years, Allan has helped contribute to business wealth enhancement of over £750 million, ranging from regional owner-manager sized business to multinational operations. He has also worked in interim management roles within companies as well as an advisory capacity – the IFT puts great emphasis on demonstrable hands-on delivery rather than a theoretical approach.

This achievement will mark an important milestone career-wise as he will be one of very few in Europe who is qualified as a chartered accountant, corporate financier, insolvency practitioner and member of the IFT.

Allan said: “Becoming a member of the IFT demonstrates that you are experienced in undertaking assignments using the highest professional standards, which is increasingly important given the myriad of unregulated advisors in the market.

“I have been involved with helping to turnaround and restructure companies for over 10 years which are often pressured and taxing environments, and I have been fortunate to work with some great companies and people over this period. Applying for membership seemed like a natural progression to have my competencies formally recognised.

“There is tremendous satisfaction in successfully getting a company back on track and it is this mindset that aligns with the corporate mission of the IFT.”

As one of nine firms that are part of MHA, a UK wide association of like-minded progressive and respected accountancy and business advisory firms, Tait Walker will be the first to have a member gain the IFT qualification amongst its team, and is the only independent North East accountancy firm with this offering

Allan added: “Given the nature of turnaround assignments, it is only with the full backup of Tait Walker service lines that I can ensure complete delivery across the decline curve, providing companies and stakeholders with the best advice.”

The IFT works with reputable partners including HSBC, Barclays and Lloyds and focuses on helping to create sustainable businesses. Their mission is to become the de facto voice of transformation and turnaround, especially of change that is socially useful.

IFT board member and regional chair, and Bond Dickinson LLP partner, John Pennie said: “We are confident in the expertise that Allan will bring as a member of the institution and we are always looking to extend our service offering and membership with suitably qualified people.

“In 2012, IFT members were responsible for over one million employees, in companies with sales of £18 billion and £12.5 billion of institutional debt. We hope to build upon this in 2013.”

This was posted in Bdaily's Members' News section by Tait Walker .