Newable appoints two new managing directors to drive growth

Newable, the leading provider of money, advice, and space to SMEs, is delighted to announce the appointment of Peter Barrand as managing director of Newable Capital and Azim Hosein as managing director of Strategy and Acquisitions.

Newable Capital is Newable’s specialist investment arm, providing support to help profitable, well-established UK SMEs through their succession journey. Created early in 2019, Newable Capital has already screened nearly 350 investment opportunities and is looking to close multiple transactions over the coming months.

Formerly of PricewaterhouseCoopers, Peter joins Newable from Ignition Corporate Finance where he was a founding partner. Ignition is a highly successful London based corporate finance advisory firm focused on sell-side advice for UK SME private companies and MBO advice to private equity investors and management teams. The partnership’s expertise is in transactions less than £25m enterprise value across multiple sectors.

Meanwhile, the appoint of Azim Hosein as managing director of Strategy and Acquisitions comes as Newable looks to both the organic expansion of its existing businesses and also, through acquisition, the development of its platform offering to businesses working at the heart of the economy.

Azim joined Newable in September 2016 as head of Corporate Development. He obtained his ACA qualification at Deloitte and is a CFA charter holder. He has significant corporate development experience having worked on numerous M&A projects across a range of sectors including energy and consumer products. He joined from the Centrica Energy M&A team.

Chris Manson, Newable CEO, said “We are delighted to have Peter and Azim on board as we look to take our growth to the next level, underlining our ambitions to support and grow a significant and increasingly valuable portfolio of thriving businesses.”

“In the first nine months of activity, Newable Capital has generated a significant deal flow, while on the acquisitions side we have made a number of headline purchases recently including the flexible office provider Citibase, Newable’s largest single acquisition to date.”

Salaries to increase 5.3% in 2020: Aon Malaysia 2019 Salary Increase & Total Compensation Measurement™ Survey

Salaries in Malaysia rose by 5.1% in 2019 and are expected to jump by 5.3% in 2020, according to the Malaysia 2019 Salary Increase & Total Compensation MeasurementTM Survey by Aon (NYSE: AON), a leading global professional services firm providing a broad range of risk, retirement, and health solutions.

These rates indicate that wages in Malaysia are increasing faster than those in Singapore (3.8%) and Thailand (4.9%) but slower than in Indonesia (7.4%). With annual inflation at 2.4%, Malaysians experienced an average growth of 2.7% in real wages in 2019, up from 2.1% the previous year.

In the face of a growing economy and steady salary increases, Malaysian businesses must evaluate their compensation packages, to ensure they can continue to attract and retain their most critical talent.

Analytical, strategic and specialist roles earned top dollar: app developers amongst the hottest jobs in Malaysia

According to the Aon survey, median pay for jobs in engineering and technology are relatively higher than all other job roles across the Malaysia market. Those working in engineering roles earn, on average, 14% higher and those in technology such as cyber security and information technology, earn 12% more than other job functions within the Malaysia market as a whole. Furthermore, fresh graduates in the engineering and high-tech job roles enjoyed a 16% higher starting median salary compared to fresh graduates in other functions. With digital and technological advancements, employers are paying a premium for talent in these areas.

The survey further revealed that median pay for software engineers/application developers increased by 17% from the previous year across various levels of seniority, demonstrating the continuing commitment of Malaysian employers to prepare for Industry 4.0.

Across all industries, senior legal managers earned 20% more than the market average, whereas compensation for senior business development managers / strategic planners was 22% higher than the market average, illustrating the premium employers place on professionals with specialist skill sets.

Rahul Chawla, director & head, Rewards Solutions, Malaysia, Aon, said: “The rewards landscape in Malaysia was very active in 2019. A volatile macroeconomic and geopolitical environment coupled with a pressing need to deliver efficiencies compelled businesses to revamp their rewards programmes. In the last 12 months, organisations have implemented incentive plans aimed at catalysing transformation and delivering shareholder value. Value creation for all stakeholders and value sharing amongst key contributors seems to be the mantra for the coming year”.

New managing director of SME lending appointed at Paragon

A new managindirector of SME lending has been appointed at Paragon, with extensive experience in the asset finance sector, spanning the UK and Europe.

John Phillipou joins Paragon from PEAC Finance, where he was chief executive officer, leading the business in providing finance solutions for predominantly SME clients.

John will be responsible for overseeing the SME lending activities of Paragon Banking Group including broker, commercial, invoice finance and professional loans to support UK businesses. He also aims to ensure that customer focus continues to be at the forefront of Paragon’s commercial lending.

John Phillipou, managing director of SME lending at Paragon, said: “I am delighted to be joining Paragon and I look forward to working with the team to deliver both a first-class service and products.”

John’s career spans 25 years in business lending both in the UK and globally, including roles with Bank of Scotland, JCB Finance, Citigroup and as International MD for Deutsche Leasing.

Cardiff-based Hodge Bank strengthens board with two new directors

Hodge Bank has appointed Graeme Hughes as senior independent director of Julian Hodge Bank Limited and Hodge Life Assurance Company Limited and David Gulland to the Board of Hodge Life Assurance Company. Both will join the Board of Hodge Limited.

Graeme and David bring with them a wealth of executive experience in the financial services sector and will play a significant role in broadening the perspective of the Board as it navigates the years ahead.

David Gulland was with Bacon & Woodrow and Deloitte as an associate partner and has more than 30 years’ experience as an insurance professional and currently holds varying governance and oversight responsibilities at the Royal London Group, PG Mutual and the Funeral Planning Authority.

Hodge’s chairman, Adrian Piper commented: “I am delighted to welcome Graeme and David, they have each enjoyed long and varied careers in financial services and we are very pleased to be able to call on their perspectives and expertise as the business develops.”

The appointment of Graeme and David comes as two existing members of the Hodge Board, chairman Adrian Piper and non-executive director Jonathan Hodge, announce their retirement from the business.
Adrian Piper will be retiring in April 2020 after more than nine years on the Board, the last two in his role as chairman.

Of his time with Hodge, Adrian Piper said: “It has been a huge privilege to lead the Hodge businesses through some challenging times and to see it emerge stronger and well set for its next chapter.”

Steve Pateman, CEO at Hodge added: “Adrian has played a critical role in creating a financial institution that is fit for the modern world. He has been balanced in his approach, seeking to take the values that our founder instilled in the business and making them relevant to the 21st Century. Adrian has made a tremendous impact on the business and its staff, and his presence will be sorely missed. We wish him all the very best in his retirement”. A search is in train for Adrian’s successor.

Jonathan Hodge, non-executive director of both Julian Hodge Bank and Hodge Life Assurance Company retired from both boards at the end of October, having represented the Hodge family in an executive and non-executive capacity since 1983. Jonathan will continue as chairman of the Group’s parent company, The Carlyle Trust Limited. Out-going chairman Adrian Piper, expressed his appreciation of Jonathan’s long service: “It’s impossible to put into words the energy, commitment and professionalism Jonathan has brought to Hodge for which we sincerely thank him.”

Tandem Bank appoints former HSBC head of banking products

Tandem Bank is set to launch in Hong Kong by the end of the year as it pushes ahead with its international growth plans in addition to driving an exciting domestic growth agenda and has appointed chief growth officer, Kunal Malani, who brings a wealth of experience from positions held at HSBC, Barclays and Capital One.

Ricky Knox, Tandem Bank CEO, says: “I’m delighted to welcome Kunal to Tandem. He brings a wealth of experience from over two decades working with legacy banks. I look forward to working with him as we drive our international growth plans and deliver on our ambitious domestic targets. This year we have made some exceptional senior appointments and as we continue to grow I anticipate many more talented industry professionals will look to make the move to the challenger bank space”.

Kunal has over 20 years’ experience in product and commercial management spread over multiple regions include the UK, US, India and the Middle East.

Prior to joining Tandem, Kunal held leadership positions at multinational banks around the world, including regional head of retail banking products, MENA at HSBC; commercial director at Barclays. He also played a pivotal role in Capital One’s growth in the US and UK, as head of cross sales, cementing it as a leading credit brand.

Kunal Malani, chief growth officer at Tandem Bank, says, “I am extremely excited to be leading Tandem’s international expansion plans as well as the growth agenda we have here at home. We have hit the ground running with Hong Kong and done so at a great time as local consumers are currently massively underserved when it comes to digital banking. Tandem offers a great range of solution-based products which can benefit anyone, anywhere. I look forward to utilising my skills in this new banking environment and delivering on the exciting plans we have for 2020 and beyond. ”

Financial sector turning backs on younger workers

More than a third of business owners in the finance sector would choose to recruit an older worker than a younger candidate with exactly the same skills and experience, according to new research.

In a national survey, more than a third (36%) of 1,000 SME business owners across a range of sectors including education, healthcare, IT, manufacturing, hospitality and tourism said that they would sooner recruit a 55-year-old than a 24-year-old, with 35% of business owners in the finance sector saying the same. Just a quarter (25%) of finance business owners preferred a 24-year-old with the same CV. Issues raised by business leaders about so-called ‘snowflake’ and ‘millennial’ employees included ‘lower productivity’, ‘higher absence rates’ and ‘a poorer grasp of the English language’, instead preferring ‘loyal’ older workers, according to data gathered by the UK’s most trusted business healthcare provider, Benenden Health.

The study, which also surveyed 1,000 employees, found that nationally more than half (56%) of generation Z employees (aged 16-23) felt they have been overlooked for roles due to their age compared to 47% of millennials (aged 24-38), 29% of generation X (aged 39-54) and a third (34%) of baby boomers (aged 55-72). More than a third of employees surveyed in the finance sector felt they had been overlooked for a job due to their age.

However, when it comes to attracting and retaining a workforce, the findings have shown a major discrepancy between what employers and employees see as a priority, with 56% of employees in the financial sector stating that a strong health and wellbeing scheme would increase their likelihood to stay with a business.

Health and wellbeing packages are starting to command increasing importance for employees, with nearly half of all respondents in the finance sector (48%) saying a strong health and wellbeing benefit would increase their likelihood to join or stay with a business. Nationally, generation Z employees (aged 16-23) revealed they would be willing to sacrifice a whopping third of their salary to receive a healthcare package that fits their personal needs.Yet, despite this, nearly two thirds (64%) of SMEs surveyed in the finance sector reported that they don’t have a healthcare package in place for employees above statutory allowances, with 57% of those without one claiming they don’t believe it is necessary and nearly half (46%) saying they don’t believe or weren’t sure a strong health and wellbeing package is valuable in recruiting and retaining employees.

In addition, more than a quarter of financial businesses (26%) revealed that they have never consulted workers on what they would value in a healthcare package, despite employees having different priorities depending on their age. Nationally, younger workers revealed that they place value on mental health support, counselling sessions and life skill lessons, whereas older generations said regular medical checks and flexible working were top of their list of potential healthcare benefits.

Helen Smith, chief commercial officer of Benenden Health, commented: “Our research has highlighted some interesting statistics on the attitudes of employers towards a multigenerational workforce. The finance sector appears to be one of the more progressive industries in regard to hiring younger workers, but there is still a preference for older workers, even those with the same skills and experience as younger candidates. Unlocking the potential of a multigenerational workforce is the key to harnessing skills and talents of different generations.

“Our research found that healthcare is becoming increasingly valued by financial workers with nearly half (47%) of employees in the sector willing to sacrifice over 30% of their salary – indicating that businesses should be offering tailored health and wellbeing plans to meet the varied needs of a modern workforce and attract a talent multigenerational workforce.

“Younger generations told us that mental health support is of great importance to them, but these priorities change over time. Generation X workers often have the dual commitment of looking after children and parents so flexible working is valued by them, and with employees working longer than ever, ensuring your older workers are catered for as well – through regular eyesight and hearing tests, and ergonomic offices, for example – is vital to maintaining a strong modern workforce.

“At Benenden Health we firmly believe that a healthy workforce is a productive and motivated workforce and having these open conversations with employees and tailoring a healthcare approach to suit will put businesses in prime position for recruiting, retaining and maximising talent.”

THC Recruitment welcomes a new team member

I am excited to welcome Catherine Jack to THC Recruitment. Catherine is the new director of our Asset Finance division. She brings over 20 years senior level permanent and interim search experience across multiple industries.

In her career to-date Catherine spent over 10 years running her own boutique search firm based in Sydney, specialising in international financial services search across Asia, Australasia and the emerging markets of the Middle East. As head of human resources for a financial markets fintech she moved back to the UK and on the sale of the business returned to the world of executive search.

Catherine is passionate about adding real value to both clients and candidates throughout the search process whilst building long-term relationships. She loves working with organisations where there is ambiguity and transformational change, cutting through the disruption with innovative ideas and commercial solutions. Catherine has a direct yet consultative style and takes the time to truly partner with the companies she works with.

We are delighted to welcome Catherine to the team.

Revealed: The best locations to hire in right now

Are you looking to ramp up your hiring efforts as Brexit pressure eases? Well, according to the latest job market report from CV-Library, the UK’s leading independent job board, it’s definitely a good time, as applications for jobs have risen by an impressive 8.9%.

Indeed, the findings, which analysed job market data from October 2019 and compared it with findings from the same period last year, found that certain locations have experienced even bigger jumps in application growth year-on-year, with the top ten cities including:

1. Portsmouth – 36.9% rise in applications
2. Brighton – 19.3% rise in applications
3. Southampton – 17% rise in applications
4. Bristol – 16.7% rise in applications
5. Cardiff – 13.3% rise in applications
6. Glasgow – 12% rise in applications
7. Edinburgh – 11.3% rise in applications
8. London – 9.9% rise in applications
9. Manchester – 4% rise in applications
10. Leicester – 2.9% rise in applications

As well as this, the data also reveals that the charity sector experienced the largest surge in applications year-on-year (72.3%), followed by hospitality (45.7%), IT (36.3%), legal (33.6%) and electronics (26.7%).

Lee Biggins, founder and CEO of CV-Library, comments: “While it may be encouraging to see that candidates are feeling confident about job hunting, employers should remain wary. Even though Brexit has been pushed back to 2020, the result of the general election could have a huge impact on the job market and our future in the European Union.

“However, while airing on the side of caution, now is a great time to hire ahead of the New Year rush, especially as candidates in these key cities are responding to the market strength. Plus, with a significant break between any likely conclusion to Brexit, now is as good a time as any.”

A probable cause for this surge in applications could be down to the resounding 31.8% rise in salaries for new roles. The data found that Brighton led the major cities in salary growth (38.8%), ahead of Edinburgh (30.7%), Portsmouth (16%), Cardiff (13.9%) and Glasgow (12.3%).

As well as the rise in salaries, job vacancies rose by 6.2% in October, suggesting that UK employers are regaining faith in their hiring efforts once more.

Biggins continues: “While many companies are tempted to wind down in the lead up to Christmas and the New Year, it’s a good opportunity to get ahead with your hiring plans. The promise of higher pay is driving applications up right now, but it’s important to evaluate and assess the suitability of a candidate before offering them a bumper new pay packet.

“Set up a structured, fair and thorough hiring process to give you the best possible chance of making a great hire. Rushing or cutting corners can do more harm than good, and it can increase your chances of letting good candidates slip through the cracks.”

Gunner and Co recruit new senior broker to bolster growing team

Gunner & Co has added a new senior broker to its growing team, further cementing itself as the specialist in the negotiating, buying and selling of financial services.

Joshua Lee, joins the business with a wealth of experience ranging from initial research of acquisition targets and developing deal structures that work for both the buyer and seller. Prior to his taking up his role at Gunner & Co, Joshua developed his extensive understanding of the industry by leading the acquisition strategy for renowned chartered firm, Attivo. Joshua also has the Certificate in Corporate Finance, awarded by CISI.

Louise Jefferys, managing director at Gunner & Co, commented on the appointment: “This hire results from Gunner & Co.’s continued growth. Joshua’s credentials align to our primary focus on educating financial planning business owners in the complexities of M&A, alongside our core competency of bringing buyers and sellers together and our proven track record of completing deals that bring value to both sides.”

Joshua Lee added: “I am incredibly proud and excited to join the team at Gunner & Co. This firm prides itself on its unique approach of dealing with its customers, and our values are very much the same in that regard.”

Gunner & Co. has enabled buyers to grow their funds under advice by more than £500m so far this year, with a further eight deals due to complete before year end. The business remains committed to sharing their experience and knowledge through their seminar series, giving business sellers an A-Z of the process of selling their business, enabling them to prepare effectively and ultimately realise their best possible value.