Diploma in Corporate Finance prizewinners

The Diploma in Corporate Finance run by ICAEW and CISI attracts the cream of the graduate crop. At the Corporate Finance Faculty Annual Reception prizes are awarded to those achieving the highest scores and last year’s top two both came from Evelyn Partners. Marc Mullen speaks to the winners, and to John Rugman, Evelyn’s head of advisory services.

Joyce Chadwick

London-based associate in Evelyn’s valuations and modelling team

How relevant was the diploma?

I work on a wide range of valuations, such as accounting, tax or commercial. The diploma gave me a deeper understanding of fundamentals such as multiple approaches and discounted cash flows. And while I’m not often directly involved in transactions, we often complete work pre- or post-acquisitions. Having a better understanding of regulations and technical points around transactions has allowed me to take these into account when considering valuations. It was also helpful to gain a stronger comprehension of how PE houses and trade buyers consider acquisitions, which has helped in discussions with clients.

How was the work-study balance?

It was tricky, but good discipline was helpful. This involved a couple of extra hours in the office at the end of the day, and making sure I set aside time to study at weekends. I was fortunate to have a team that understood the pressure of studying while working.

What next?

I look forward to continuing in my current role and learning more. Our team is proactive on developing technical and professional knowledge, so I’m looking forward to further career opportunities as I progress.

Alexander Cook

Birmingham-based associate in Evelyn’s valuations team

How relevant was the diploma?

My primary focus, as part of the corporate transaction process, is to work on purchase price allocations, and I have valued a range of businesses and intangible assets, including brands, customer relationships and technology related assets, using specific and highly technical methods. The diploma was highly relevant, providing a solid foundation for understanding of deal processes. Particularly relevant aspects of the qualification include in-depth financial analysis, deal structuring and post-acquisition integration, as well as transaction rationale and associated risks.

How was the work-study balance?

The main challenge centred around time management and prioritisation of work and study. The qualification provides an extensive case study of a transaction, which takes many hours to comprehend and ultimately apply in a theoretical situation. There were a few late evenings.

What next?

I want to further enhance my expertise in capital markets and the wider field of finance so I can provide holistic and comprehensive advice to clients.

John Rugman
Head of advisory services, Evelyn Partners “We recruit graduates into our valuations team, and that has proved a very successful system for us over the years; we are fortunate to receive many applications from very good candidates. By offering them the Corporate Finance Diploma, we can attract higher-quality people who are capable of becoming prizewinners. If we didn’t offer the qualification, they wouldn’t feel the same level of support or commitment from the firm and in a competitive market might look elsewhere. It’s a differentiator for us. “The great thing about the diploma for us is that there’s a lot of valuation-related content, in terms of market multiples, discounted cash flows and capital structures. Our recruits learn a lot very quickly. The diploma takes two to three years to complete and they don’t spend hours in the classroom – they get to do so much more in the business. This makes them really valuable to us – they learn the trade at the coal face, supported by a nicely balanced qualification. Passing the qualification with Evelyn really enhances their promotion prospects – and quickly. “It has become the qualification of choice for us in valuations, and over the last year we’ve started looking at the possibility of bringing graduates into other areas, such as corporate finance. For them, we might also offer the corporate finance qualification alongside the ACA and more traditional ACA routes into the business, because it is relevant to their roles.”

John Rugman

Head of advisory services, Evelyn Partners

“We recruit graduates into our valuations team, and that has proved a very successful system for us over the years; we are fortunate to receive many applications from very good candidates. By offering them the Corporate Finance Diploma, we can attract higher-quality people who are capable of becoming prizewinners. If we didn’t offer the qualification, they wouldn’t feel the same level of support or commitment from the firm and in a competitive market might look elsewhere. It’s a differentiator for us.

“The great thing about the diploma for us is that there’s a lot of valuation-related content, in terms of market multiples, discounted cash flows and capital structures. Our recruits learn a lot very quickly. The diploma takes two to three years to complete and they don’t spend hours in the classroom – they get to do so much more in the business. This makes them really valuable to us – they learn the trade at the coal face, supported by a nicely balanced qualification. Passing the qualification with Evelyn really enhances their promotion prospects – and quickly.

“It has become the qualification of choice for us in valuations, and over the last year we’ve started looking at the possibility of bringing graduates into other areas, such as corporate finance. For them, we might also offer the corporate finance qualification alongside the ACA and more traditional ACA routes into the business, because it is relevant to their roles.”

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