UPDATES

Diversity and inclusion

Last month’s Corporate Finance Faculty diversity and inclusion event at Chartered Accountants’ Hall was the second of the faculty’s ‘Building a career in corporate finance and investments’ events, popular with younger members.

Keeley Woodley, head of corporate finance at Grant Thornton (the first woman to hold that position), opened the event with a speech outlining the findings of her firm’s latest report on progress with gender equality in finance. She said that while she could see there was more than when she began her career, “there are pockets that lack diversity, be it ethnicity or gender”. Corporate finance is one, in no small part because deals can involve short periods of intense work, which doesn’t easily lend itself to part-time working. “I think it is a privilege to be able to work in corporate finance, but there are challenges. Diversity is not fixed, but it is getting better.”

A panel discussion, chaired by ICAEW communities manager, diversity and belonging, Marcie Dyce, featured:

• Katherine Broadhurst, partner and head of corporate finance for the South West and Wales at Azets (and new technical committee member);
• Vincent Egunlae, investment banking analyst at Houlihan Lokey;
• Cara Haffey, PwC corporate finance partner, head of manufacturing and automotive and deal leader for the UK regions; and
• Philip Olagunju, head of corporate finance at PEM Corporate Finance.

Broadhurst told how an appraisal early in her career suggested she was “bossy” and “tricky”, while a male peer was told he was “assertive” and “ambitious”. “I couldn’t see the difference. But I listened to people who told me how they had overcome that kind of thing. It’s a badge of honour for me now. We don’t all have to be the same.”

Diversity can prove superficial if not accompanied by genuine inclusion, suggested Haffey: “I might well be here, but are you asking me to participate?”

Olagunju said the problem with inclusion is “there are people that don’t get it, and who don’t have to get it”, adding: “Even with inclusion, we have to help and shape those from a diverse background because they won’t have had the same life experience.”

Egunlae said the ability to talk openly about concerns at work is a good sign: “It shows employees are comfortable. There shouldn’t be the focus on hierarchical structure to give opinions. If leaders don’t know what is going on, that’s not good and you’ll get high churn.”

DATES FOR THE DIARY

Financial due diligence guide launch

22 October 2024

The Corporate Finance Faculty’s financial due diligence guideline will be launched on 22 October 2024 at Chartered Accountants’ Hall. The event will include a panel discussion. 

Leeds infrastructure forum

5 November 2024

The Corporate Finance Faculty and UK Infrastructure Bank’s (UKIB) Infrastructure Forum for Investors and Advisers with UKIB is at the Leeds Marriott Hotel on 5 November 2024. There will be a keynote speech from John Flint, UKIB CEO, and discussion on investing in a greener future with:

• Daniel Grosvenor, partner and head of government and infrastructure and global financial advisory lead for power and utilities, Deloitte;
• James Pincus, energy, utilities, resources and infrastructure corporate finance leader, PwC;
• Louise Shaw, EY partner, energy and infrastructure corporate finance; and
• Emily Sidhu, managing director of banking and investments, UKIB.

The event is free; places can be booked here.

2024 Annual Reception

13 November 2024

The Corporate Finance Faculty’s Annual Reception will be held on 13 November 2024, at Fishmongers’ Hall in the City of London. Guest speaker is Lord Clement-Jones CBE, former DLA Piper managing partner, Lib Dem peer, co-founder and co-chair of the All-Party Parliamentary Group on Artificial Intelligence. Free to faculty members, places can be booked here.

CONSULTATIONS

FCA public offers consultations

The deadline for the FCA consultations on a new Public Offers and Admission to Trading Regulations regime, and on a new regime for public offer platforms, is 18 October 2024. The faculty has collated the views of members and is finalising its response, which will be submitted ahead of this month’s deadline.