TMA Member Profile

Marcus Derwin (R Cubed Group)

What led you to start up your business – R Cubed Group?
Post the GFC, I undertook a longer term assessment and perspective of the global economy and determined that the next decade was going to be one of turbulence and extended volatility. To that end, I assessed that there was a market gap for large corporates to call upon experienced turnaround professionals to assist them in assessing, executing and implementing complex restructuring plans. This was the genesis for R Cubed – representing the platforms of restructuring, recapitalisation and refinancing. Its been a great journey with never a dull moment.

What inspired you to join TMA and become involved as a Director?
I was involved with the TMA when I was working in the US through the ‘tech-wreck’ period. Upon my return to Australia, TMA was in its formative stages locally. Through the efforts of many like-minded people over an extended period, it has developed domestically to a point where it is now a professional and credible organisation. I became involved through the Conference committee over the past 4 years and was invited to join the national Board. At a Board level it’s a pleasure to share industry related ideas and issues with professionals centered around a common a goal of corporate renewal.

What trends are you seeing in the Australian restructuring and turnaround industry right now?
Slowly and surely, organisations and their key stakeholders are seeing the merit and tangible benefit of calling in professional advisors to assist them in the strategic formulation and execution of considered restructuring plans. We can only advocate early intervention to enable increased optionality – Australian corporates (typically their Boards who are largely centered on risk management and governance at the expense of growth) have been slow to embrace the utilisation of dedicated professionals for purpose driven circumstances and events. Whilst this has been an established go-to strategic option for decades in the US and Europe, we are coming to realise we are operating in a global market as we embrace best practice disciplines. Other trends include more creative restructuring mechanisms, which are a combination of financial reengineering and operational elements, together with increased P2P and Debt for Equity transactions to effect ‘behind the veil’ restructures. Transformation Officers are the next thing…to effect substantive and systemic change!

What is the best piece of professional advice you’ve ever been given?
‘When chaos prevails, slow it down…and run your own race’. I’ve practiced the discipline within each restructuring engagement that I’ve been involved in since.