Annual Reception 2025

This year the gathering of corporate financiers took place on 13 November at Goldsmiths’ Hall, Grade I listed neo-classical building which serves as the historic headquarters of the Worshipful Company of Goldsmiths, one of the Great Twelve Livery Companies, and has been on the same site since 1339. Renowned for its opulent interiors and architectural grandeur, the hall is also the birthplace of the term “hallmarking”, as it has long been the place where precious metals are tested and marked for quality.  

The evening started with a warm welcome from David Petrie, Head of Corporate Finance at ICAEW. He affirmed that, despite the rapid advancements in artificial intelligence driving significant changes within the industry, the purpose behind hosting one of ICAEW’s most highly attended events remains as relevant as ever - human relationships and personal networks are likely to remain vital components in sourcing new deal opportunities. 

ICAEW CEO, Alan Vallance, then took to the stage to remind our members of the importance of the  Corporate Finance Faculty to the success of ICAEW.  Vallance said, “The Faculty has grown to become the UK’s largest network of corporate finance professionals – with a substantial reach and influence in a hugely significant area of business responsibility, and indeed income for our member firms. It provides a world-leading service to the corporate finance, advisory and investment community.”   

He also spoke about the vital role of the faculty in supporting members with the many challenges and opportunities that the industry faces, particularly around the increasingly widespread adoption of AI tools in deal and investment processes. He also signposted the launch of the Next Generation ACA in September of this year and that the Institute aims to ensure that the ACA remains the qualification of choice for people pursuing a career in corporate finance and investment.

The evening featured prominent guest speaker, Jon Moulton, CBE FCA CF, best known as the founder and managing partner of Better Capital and with a career in private equity spanning four decades. He previously led Alchemy Partners and held senior roles at Citicorp Venture Capital, Schroder Ventures (now Permira), and Apax Partners. Known for his outspoken views on corporate governance and tax policy, Moulton is also a chartered accountant and a Fellow of the Institute for Turnaround Professionals.

In a typically forthright speech and speaking in a personal capacity Moulton first turned his fire on what he saw as ‘needless boiler plate statutory reporting’, asking if anyone in the audience actually read audit reports from start to finish. He said the proliferation of reporting, in particular around ESG matters added little, if anything to investment decision making.

After joking that he hoped his speech wasn’t being recorded, he noted how the Trump administration’s ‘war on woke’ had seen many US private equity firms backtrack on the multiple DEI disclosures that had been prevalent prior to the 2024 US election.

Back to home, and back to the ICAEW, Moulton noted that the Institute seemed to be straying into competing with business lobbying organisations, such as the CBI and the IOD. He questioned whether that fits with its remit as a professional body for members. He also raised the question as to whether that should be a priority, rather than more immediate concerns for members, such as the imminent and fundamental changes to the profession brought by AI.

Jon has strong links to the Corporate Finance Faculty. He was formerly a board member of the faculty (from 2012 to 2024) and is a regular columnist in our Corporate Financier magazine. 

This year’s Corporate Development award was awarded to Hill and Smith, a FTSE250 company which designs, manufactures, and supplies infrastructure products and services across several global markets – this includes road and highway infrastructure, engineered solutions and galvanising services. Alan Giddins, Chair of Hill and Smith, attended alongside Hill and Smith colleagues, to collect their award. In a fascinating acceptance speech Giddins outlined the group’s approach to successful acquisition. He explained that this often included retaining existing brands and management teams, which in turn enabled continuity whilst also bringing improvements in areas such as cyber security, health and safety and additional investment as part of a larger group.

The two prize winners for the highest scores in the ICAEW/CISI Diploma in Corporate Finance – Darcy Byrne and Olivia Cassells - received their prizes presented by ICAEW’s CEO, Alan Vallance and Chair of the faculty board, Alistair Brew.

Lastly, Sue Nyman (Grant Thornton), was presented with the Outstanding Contribution award for her outstanding dedication to the faculty and to ICAEW for more than 25 years . Sue was a member of the Corporate Finance Faculty’s Technical Committee throughout those years, while also serving on several ICAEW working groups, review panels and ethics committees. We are truly grateful for her tireless support over the years.

A notable highlight of the evening was the opportunity for our members and their guests to network with colleagues and industry leaders, engaging in meaningful discussions within a beautiful setting enhanced by champagne and canapés.

The Annual Reception remains a popular event for very many ICAEW members, despite or perhaps because of the prolific expansion of AI in (almost) everything we corporate financiers do.

We look forward to many more of our in-person networking events in future. 

You can find them here: Corporate Finance Faculty Events 

The Corporate Finance Faculty Annual Reception is one of ICAEW’s best attended in-person events. It has established an enviable reputation as the leading event of its kind, bringing together advisors, principal investors, policy makers and academics from across the City. The reception provides an ideal platform for attendees to connect with industry peers, share experiences, establish valuable contacts and potentially, to win new work or source investment opportunities.