Understanding the many services that can add value to clients on transactions is the next step for S&W’s Yaroslav Magnus-Hamblett.
Why did you decide to train as an ACA?
Like many others, I came to training as an ACA because I wasn’t sure what career I wanted. I was fairly good at maths, so knew I’d be comfortable with the numbers side of it. I had studied A-level economics at the time of the 2008 financial crisis, when the world of finance was thrust into the media. That made economics less theoretical, which piqued my interest.
I went to the University of York and studied accounting, business finance and management. I wasn’t wedded to a career in accountancy yet and was still exploring my options. Towards the end of my degree, I got a greater appreciation of the options that accountancy opens up, so decided that an ACA would be a good choice.
Where did you start your accountancy training?
I joined Mercer & Hole in 2013. From the careers fairs I attended, I got the sense that the Big Four would be great for exposure to well-known clients, but there was a risk of getting siloed into a particular area without getting a feel for the job as a whole. Small firms offered the opportunity to see a project from start to finish, which appealed to me.
I spent two years with Mercer & Hole, with my time split 50-50 between accounts prep and audit. The accounts prep really taught me the basics of accounting and a lot of trainees don’t get that opportunity. I can (now) fondly remember being given a box of handwritten notes, receipts and bank statements from a farmer and asked to prepare financial statements.
How did you get into transactions?
I moved to Crowe’s audit team halfway through my training contract. While Crowe was a bigger firm, there was still scope to be involved in every aspect of the audit. I joined the London office and that’s where I got my first corporate finance experience. At the end of the training contract, Crowe made a very good presentation of the career opportunities it offered post-qualification. Transaction services stood out the most as it delivered real value-add for clients. The work was fast-paced and the team was supportive and engaging.
What is the first deal that stands out for you?
About three months into my due diligence career, we were engaged by a large UK gaming group to work on an acquisition in Eastern Europe. The deal didn’t actually complete, but it was so interesting. In the first week, I flew out with the client CFO to meet the local management team. We sat down with all the parties and asked some really basic questions. It highlighted the importance of healthy scepticism in financial due diligence (FDD). You’re not just painting a rosy picture, you’re there to challenge the financials and give your client the confidence to make a decision.
What was your next move?
In 2020 I joined Quantuma, where I helped build a transaction services practice. It was a steep learning curve, but very enjoyable. Then in 2023, I joined S&W. Private equity-backed, its positioning in the market really resonated with me: up-and-coming mid-market disruptor. I was promoted to associate director in March 2024. As well as leading day-to-day FDD work, I also get involved with pitching, recruitment, people development and business development on key accounts. I’m also involved in one of our key initiatives – harnessing AI and automation in our work, which is really interesting.
What recent M&A transactions have you worked on?
At the end of last year we carried out a vendor due diligence assignment for Axil, a Midlands-based waste management business that services industrial clients. It was owned by TPG-backed Regen Holdings. There were a lot of moving parts to the business, which was pretty challenging, but after spending plenty of time upfront discussing and planning, we produced a report with the critical analyses, explanations and conclusions that bidders needed. Ultimately it was sold to private equity firm TowerBrook.
What are your ambitions?
Becoming a transaction services partner is the ultimate goal. The next career step is director. I need to continue to develop my internal and external personal network to help generate more business, as well as deliver exceptional client service – because a happy client is a repeat client.
