Chartered Institute of Public Finance and Accountancy

Birmingham's bankruptcy is only the tip of the iceberg – local authorities across England are at risk

Retrieved on: 
Wednesday, September 6, 2023
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This signals that the council is unable to balance its budget, due to lack of financial resources.

Key Points: 
  • This signals that the council is unable to balance its budget, due to lack of financial resources.
  • That the largest local authority in Europe and the second largest city in the UK should effectively declare itself bankrupt should come as no surprise.
  • More than a decade of austerity in English local government has squeezed local councils to their utter financial limits.
  • However, this recent reversal in local government funding is not enough to offset the decade-long cuts to government funding.

What happens when councils go bankrupt

    • This bars all new expenditure for a period of 21 days, except for those that safeguard vulnerable people and statutory services.
    • Issuing this notice signals that the council is unable to bring under control its future expenditure.
    • Since 2018, however, five councils have issued section 114s: Northamptonshire, Croydon (in 2020 and 2022), Slough, Thurrock and Woking.
    • However, the governance and accounting issues in Birmingham mirror those experienced by all the English authorities that have declared themselves bankrupt in the last five years.

A flawed system

    • Tensions with council staff, in particular in relation to waste collection, led to an extended strike in 2017.
    • Yet, in 2021, the Chartered Institute of Public Finance and Accountancy reported that the city had made good progress.
    • Following the recent cases of Thurrock and Woking issuing section 114 notices, the Department for Levelling Up, Housing and Communities decided to launch an inquiry into the effectiveness of financial reporting and audit system in local authorities.
    • In May 2023, the cross-party levelling up, housing and communities parliamentary committee criticised the government’s competitive funding system.
    • Councils have to bid for access to government funds, in a system which is fragmented and resource intensive.

HarbourVest Partners Appoints Javier Rodriguez as a Managing Director

Retrieved on: 
Thursday, May 11, 2023
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HarbourVest Partners, the global private markets investment specialist, today announced the appointment of Javier Rodriguez as a managing director and Head of Client Operations.

Key Points: 
  • HarbourVest Partners, the global private markets investment specialist, today announced the appointment of Javier Rodriguez as a managing director and Head of Client Operations.
  • In this newly created role, Rodriguez will oversee the cross-functional integration of the Firm’s Client Experience, Investment Accounting, Treasury, Portfolio Analytics, and Performance Measurement teams.
  • “We are excited to welcome Javier to HarbourVest,” said John Toomey, Managing Director at HarbourVest Partners.
  • Most recently he was a Managing Director, and head of RIA Custody Operations and Client Experience.

Telford Offshore Announces Completion of Sales Process and Acquisition by Merced Capital

Retrieved on: 
Monday, February 20, 2023
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The Telford Offshore group (“Telford Offshore” or “the Company”) announced today that it has been acquired by entities affiliated with Merced Capital.

Key Points: 
  • The Telford Offshore group (“Telford Offshore” or “the Company”) announced today that it has been acquired by entities affiliated with Merced Capital.
  • The acquisition represents the completion of the previously announced competitive sales process (the “Sales Process”).
  • Telford Offshore is now wholly owned by Merced Capital.
  • Telford Offshore also announced that Robert Duncan has been appointed as new Chief Executive Officer of the Company.

Eliassen Group Appoints New Leadership to Expand Expertise

Retrieved on: 
Tuesday, June 28, 2022
Chartered Institute of Public Finance and Accountancy, FDA, Contract research organization, Acquisition, Doug, List of life sciences, Accounting, Consultant, Growth, Industry, FSP, CRO, Eliassen, OEM, Technology, Organization, Solution, Time, Leadership, Information technology, Multimedia, Management

Doug will oversee Eliassen Group's financial strategy as the company continues to scale its operations to drive profitable growth and support major initiatives.

Key Points: 
  • Doug will oversee Eliassen Group's financial strategy as the company continues to scale its operations to drive profitable growth and support major initiatives.
  • Since joining Eliassen Group in 2012, Tom Hart has overseen talent solutions for regional organizations.
  • "All four of these folks personally impact and enhance the experience for our clients, and they will guide both Eliassen Group and EG Life Sciences to new heights."
  • Eliassen Group is a leading strategic consulting company that provides business and IT services for our clients as they seek to transform and execute strategies that will drive exceptional outcomes.

North Highland Welcomes Three Vice Presidents

Retrieved on: 
Monday, June 6, 2022
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ATLANTA, June 6, 2022 /PRNewswire/ -- North Highland, the leading change and transformation consultancy, has welcomed three new vice presidents across its Atlanta, London and Nashville office locations. The hires further enable the firm's ability to make long-lasting impact on its clients across the globe.

Key Points: 
  • ATLANTA, June 6, 2022 /PRNewswire/ -- North Highland, the leading change and transformation consultancy, has welcomed three new vice presidents across its Atlanta, London and Nashville office locations.
  • Micail Samiere joins North Highland as vice president of Healthcare, based in the firm's Nashville office.
  • North Highland makes change happen, helping businesses transform by placing people at the heart of every decision.
  • We break new ground today, so tomorrow is easier to navigate.Founded in 1992, North Highland is regularly named one of the best places to work.

North Highland Welcomes Three Vice Presidents

Retrieved on: 
Monday, June 6, 2022
Leadership, Professional services, Argus, Samier Dandan, Business analytics, Arizona State University, California State University, Long Beach, University of Edinburgh, Chartered Institute of Public Finance and Accountancy, Accounting, Workforce, List of life sciences, Growth, Stanley Black & Decker, Ernst & Young, Highland, Baxter, Butler University, University of Waterloo School of Accounting and Finance, Industry, Heart, University, Management, Health care, Finance, Geography

ATLANTA, June 6, 2022 /PRNewswire/ -- North Highland, the leading change and transformation consultancy, has welcomed three new vice presidents across its Atlanta, London and Nashville office locations. The hires further enable the firm's ability to make long-lasting impact on its clients across the globe.

Key Points: 
  • ATLANTA, June 6, 2022 /PRNewswire/ -- North Highland, the leading change and transformation consultancy, has welcomed three new vice presidents across its Atlanta, London and Nashville office locations.
  • Micail Samiere joins North Highland as vice president of Healthcare, based in the firm's Nashville office.
  • North Highland makes change happen, helping businesses transform by placing people at the heart of every decision.
  • We break new ground today, so tomorrow is easier to navigate.Founded in 1992, North Highland is regularly named one of the best places to work.

Connect Search Doubles Chicago Presence, Launches Financial Consulting Practice

Retrieved on: 
Monday, March 21, 2022
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CHICAGO, March 21, 2022 /PRNewswire/ -- Connect Search, LLC., a finance, accounting, and IT professional recruitment firm, is proud to announce the launch of its new financial consulting practice, Connect Financial Consulting (CFC), rounding out its offerings in staffing and placement services within its finance & accounting vertical.  Additionally, as the company marks its 10-year anniversary in Chicago, the firm announces its April 1, 2022 move from 222 South Riverside Plaza to 311 South Wacker Drive, nearly doubling its office space to 15,000 square feet to accommodate its rapid growth. Cushman & Wakefield brokered the deal.

Key Points: 
  • "Our new financial consulting offering adds resource certainty for our clients.There is an overwhelming demand for high-level financial talent across multiple industries, and through this new practice, we commit to further helping our clients navigate all of their strategic accounting and finance initiatives," said Ben Hirsh, president of Connect Financial Consulting.
  • He joined Connect Search, LLC in 2020 as President of Permanent Placement Services and will now have a dual role focused on both practices.Jim Doyle, president of Connect Financial Consulting, will co-lead the practice with Hirsh.
  • Connect Search, LLC is headquartered in downtown Chicago with offices in Itasca, IL., Madison and Milwaukee, WI.
  • For more information on Connect Search, LLC, visit their website at www.connectsearchllc.com or connect on LinkedIn .

Laurie Ann Kaufmann is recognized by Continental Who's Who

Retrieved on: 
Monday, October 11, 2021
Toronto-Dominion Bank, Finance, First Chicago Bank, First, Financial statement, CFO, Ottawa Jewish Community School, Accounting, Responsibility assignment matrix, Executive, ABN, Chartered Institute of Public Finance and Accountancy, AMRO Bank, Savings and loan association, Security Bank, Technology, Employment, Management

HENDERSON, Nev., Oct. 11, 2021 /PRNewswire/ -- Laurie Ann Kaufmann is being recognized as a Trusted Executive for her exceptional work in the Finance and Accounting field.

Key Points: 
  • HENDERSON, Nev., Oct. 11, 2021 /PRNewswire/ -- Laurie Ann Kaufmann is being recognized as a Trusted Executive for her exceptional work in the Finance and Accounting field.
  • At the beginning of her career, Ms. Kaufmann planned on studying music theory.
  • Ms. Kaufmann earned her Bachelor of Science degree in Accounting from Millikin University, graduating in 1982.
  • Ms. Kaufmann is looking forward to the next chapter in her career as she enters the nonprofit sector.

Mazars Names Partner Anthony Stranix as Insurance Practice Leader

Retrieved on: 
Thursday, October 7, 2021
Chartered Institute of Public Finance and Accountancy, Mercyhurst University, Leadership, Trump v. Mazars USA, LLP, Multimedia, Mazars, Growth, Accounting, Industry, Insurance, LLP

NEW YORK, Oct. 7, 2021 /PRNewswire/ -- Mazars, a leading audit, tax, and advisory firm in the US, today announced that effective September 1, 2021, Partner Anthony Stranix will be the new Insurance Practice Leader, taking over from Partner Brian Clouse.

Key Points: 
  • NEW YORK, Oct. 7, 2021 /PRNewswire/ -- Mazars, a leading audit, tax, and advisory firm in the US, today announced that effective September 1, 2021, Partner Anthony Stranix will be the new Insurance Practice Leader, taking over from Partner Brian Clouse.
  • Mazars today announced that Partner Anthony Stranix will be the new Insurance Practice Leader.
  • "I'd like to thank Brian for his effective leadership of the insurance practice over the past years," said Charles Abraham, Partner and U.S. Financial Services Practice Leader.
  • "I look forward to building on the solid foundation of Mazars' Insurance Practice across all of our service lines," commented Anthony.

Verit Advisors LLC® Adds Associate Jen Bao

Retrieved on: 
Wednesday, September 22, 2021
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Chicago, IL, Sept. 22, 2021 (GLOBE NEWSWIRE) -- Verit Advisors LLC is pleased to announce that Jen Bao has joined the firm as an Associate.

Key Points: 
  • Chicago, IL, Sept. 22, 2021 (GLOBE NEWSWIRE) -- Verit Advisors LLC is pleased to announce that Jen Bao has joined the firm as an Associate.
  • John Solimine, Managing Director, added, Jen is a great addition to Verit.
  • Prior to joining Verit, Ms. Bao worked at Mazars USA LLP as a Manager and Senior Associate in Financial Advisory Services.
  • Mary Josephs founded Verit Advisors in 2009 in Chicago and has nearly three decades of experience in the world of corporate finance.