Lessons Learnt: Helen Newman BDO and Derrick Vickers PWC share their insights with the TMA’s NextGen professionals
The Qld NextGen Committee held its “Lessons Learnt” event at BDO in Brisbane on 13 June 2019.
The experienced panellists comprised of Helen Newman, a Business Restructuring Partner with BDO who has over 30 years’ experience in corporate restructures and Derrick Vickers, a Partner in PWC’s Deals business and leader of the Business Recovery Services team with over 25 years’ experience in implementing turnaround and restructuring strategies.
Alisha Kennedy, Senior Associate at Dentons and NextGen committee member moderated the panel session and ran the panellists through a number of questions including:
What key changes have you seen in the past 5 years in the turnaround industry, and how have you had to adapt to those changes?
Do you think the restrictions of Banks being able to appoint has increased successful turnaround or delayed the inevitable?
Will increased activity of alternative investors (for example non-bank lenders and private equity) continue in the coming years and are these alternative investors an opportunity for more creative restructurings?
What was key to building your profiles and what should younger practitioners be doing to build their own profiles?
Some of the take-away advice from the panellists was:
Do what you are passionate about;
Build your profile by 80% doing a great job on your existing matters and 20% getting out there to meet new people by joining industry groups and being strategic to who you want to market yourself to;
You never feel “ready” for that new opportunity, you just have to back yourself and take a risk.
Thank you again for the candour and humility of our panellists and to BDO for sponsoring the event.