Consultancy firm Hutcheon Mearns, now part of Cooper Parry, provides services to the finance sector under the three pillars of deals, people, and insights, is launching CFO Advisory Services as it continues to expand.
The firm was founded in Aberdeen and now employs about 60 people across offices in the Granite City, Dundee, Edinburgh and, most recently, it opened an office on Glasgow’s Bothwell Street as it eyes further growth.
Hutcheon Mearns describes CFO Advisory Services as an expert-led, bespoke offering to support both business owners and CFO (chief financial officer) candidates to achieve their ambitions.
It is led by Andrew McLeod, BSO Partner, who has several years of business and accountancy experience to draw on. He did his accountancy training with EY in Aberdeen where he gained his professional qualification. He has also worked in-house for a private equity-backed oil and gas service company. During his time at EY, he was in both the Assurance and Transaction Advisory Services departments and was heavily involved with EY’s Entrepreneur of the Year programme.
McLeod decided to leave EY in 2018 and joined Hutcheon Mearns as resourcing manager. In his current role, he leads the firm’s resourcing efforts focusing on executive and C-level finance positions.
McLeod says: “We will support private equity [PE] and venture capitalist [VCs] investors as well as owner managed businesses in their search for chief financial officers.
“The new offering will also help CFO candidates develop their careers. In essence, our CFO Advisory Services will support the unique challenges of the CFO position. With his innovative service line, we place both the business and the candidate in focus.”
Hutcheon Mearns’ aim is to ensure its clients benefit from financial insight and leadership, enabling them to achieve their strategic objectives while helping senior finance talent to maximise their potential.
“Getting the CFO position right is vital for an organisation to achieve its operational and strategic ambitions. We have created our unique CFO Advisory Services division to work closely with investors and business owners to ensure that they have the right level of competence and expertise within the CFO position throughout their growth journey,” says McLeod.
CFO Advisory Services will support PE organisations, VCs and owner-managed businesses, in a range of bespoke ways. It covers:
- CFO appointments, including portfolio, interim, and permanent CFOs.
- CFO profiling using its unique CFO profiling tool.
- Finance team and target finance team reviews, covering structure, competence and salary benchmarking.
- Succession planning.
Focusing on the challenges of appointing a CFO, McLeod says: “We understand the importance of getting this right and that’s why we go beyond the CV. We provide a holistic view of the CFO, covering technical competence and cultural fit”.
Turning to how CFO Advisory Services will work with candidates, McLeod explains that it will be a comprehensive offering which covers such areas as continuing professional development (CPD)and technical accounting sessions for current CFOs and emerging crops of talent.
“We will also explore the topics of interest and value including M&A sessions on “how to run a deal”, as well as emerging trends around data automation and AI in finance. Sessions will be hosted by industry experts,” adds McLeod.
“For many, reaching the position of CFO is seen as hitting the summit within their professional career. However, often the real challenge has only just begun as the CFO seat is arguably one of the most demanding, pressurised and value adding positions within an organisation.
“Fundamentally, we want to provide solutions to the CFO’s problems, and by taking away some of the distractions they face in their role, they can focus on key objectives.”
Services for CFO candidates include:
- A profiling and mentoring programme – understanding the key experience and traits expected from a CFO; skills gaps and areas of underdevelopment; devising career strategies; interview preparation.
- CPD and technical accounting sessions.
- The Engaged CFO network: access to a CFO-focused event schedule, a private members LinkedIn channel, and early access to market opportunities.
McLeod concludes: “Whether you are an investor seeking to optimise portfolio performance, a business owner focused on driving growth, or a CFO candidate aspiring to elevate your career, we can provide the strategic guidance and support necessary for success.
“By placing both the investor and the candidate at the centre of the service line, we ensure that our clients benefit from exceptional financial insight and leadership, empowering them to achieve their strategic objectives, whilst enabling senior finance talent to maximise their potential.”
This article was featured in The Scotsman on August 24 2024.
