Clearwater targets financial services growth with senior hire
Global corporate finance advisory firm Clearwater International is intensifying its investment in the high-growth financial services market with the appointment of Greg Cant as partner and head of financial services.
This latest strategic move further strengthens Clearwater’s presence in the financial services sector across its UK and European offices, with the firm having advised on over 60 deals worth a combined €2.5bn in diverse segments such as wealth, insurance and specialist lending.
Clearwater’s investment in appointing a well-known market specialist presents an opportunity for the firm to deepen its expertise in financial services and will support the ongoing growth seen within the industry across Europe.
According to Mergermarket data, deal volume in financial services is increasing year-on-year, with on average 650 deals completing annually over the last five years (2018-2022). Additionally, GlobalData reported that the European financial services M&A market was worth just over €54bn ($58bn) between May 2021 and May 2022.
Greg joins with nearly 30 years’ mid-market corporate finance experience, including 21 years at Rothschild & Co, where he worked on more than 50 transactions spanning acquisitions, disposals, fund raisings and IPOs.
Most recently he was chief of staff and director of corporate finance and development at specialist FTSE 250 banking group Provident Financial and was involved in the successful defence of Non-Standard Finance’s £1.3bn hostile bid in 2019.
In his new role Greg will focus on leading Clearwater’s Financial Services sector team, strengthening the firm’s relationships with private equity and corporate clients, and transacting across a range of deals within the industry.
Greg will be based in Clearwater’s office in Leeds and his arrival will further strengthen its 15-strong team and coverage in Yorkshire, one of the UK’s key regions for the financial services industry.
Established in 2020, just before the onset of the pandemic, the Leeds office has gone from strength-to-strength under the leadership of partner Richard Goldsack. In the last twelve months the team has collectively advised on 11 deals with a combined value of more than €800m. This growth saw the team recently move to larger offices in the city’s One East Parade development and secure multiple regional dealmaking awards.
Clearwater International’s latest senior appointment follows a record half year performance. Between April and September 2022, the business’ international team advised on 88 transactions, with a combined value of more than €7.5bn. This performance followed a momentous previous financial year (21/22), which saw the firm increase revenues across the international business by 110% to €153m.
The firm also recently made several other high-profile appointments, including Christopher Jones as head of London, Sarah Taylor as head of the Midlands and two new London-based debt advisory partners Richard Clark and Simon Chambers.
Mark Taylor, UK CEO of Clearwater International, said: “This is a great start to 2023 and signals our intent to continue investing in the best talent and delivering specialist support for key international growth sectors such as financial services.
“Greg has unparalleled experience across a wide range of transactions in this market and brings a valuable ‘in-house’ perspective from his time working for a major listed banking group.
“His leadership will help us build on the platform we’ve established in financial services and ensure even more management teams and investors can access crucial, high-quality insight and advice from our sector experts.”
Greg Cant, partner and head of financial services at Clearwater International, said: “I’m proud to be joining at such an exciting time with the business continuing to extend and develop its capabilities across territories, sectors and areas such as ESG.
“Clearwater’s performance over the last few years speaks for itself and evidences the strength of its track record and reputation for delivery, particularly when it comes to complex, sizeable deals with sophisticated funding requirements.
“I’m looking forward to collaborating with colleagues in the international financial services team, debt advisory team and in the rapidly growing Leeds office to drive further success in 2023 and beyond.”
