Begbies Traynor Hires Former Pensions Regulator
Ric Traynor - Executive Chairman | October 15th 2009
Begbies Traynor, the UK’s leading business rescue, recovery and restructuring specialist, has appointed Len Fawke to lead the BTG Pensions Advisory team. The team will oversee the delivery of pension advisory services to trustees, employers and other stakeholders with an interest in pension scheme issues. Len, who is based in Leeds, was Head of Scheme Specific Funding at the Pensions Regulator throughout 2007.
During his 30 year business career in Yorkshire, Len spent 16 years as a Partner in PricewaterhouseCoopers leaving in 2001 to take up the role of Chief Financial Officer of Australian Wool Services (formerly The International Wool Secretariat).
A prominent member of the Leeds business community, he was a Director of the Leeds Chamber of Commerce and Industry from 1984 to 2001. Len was also a founding Director of Business Link Leeds as well as serving on the executive of the Association of Yorkshire and Humberside Chambers of Commerce.
He joined the Pensions Regulator immediately prior to the first major deadline for the submission to it of Recovery Plans addressing how defined benefit pensions deficits were to be eliminated and was instrumental in implementing the Regulator’s approach to risk based regulation. During 2007 nearly 2000 such recovery plans were submitted to the Regulator.
Immediately before joining Bebgies Traynor, Len was a senior member of Grant Thornton’s National Pensions Advisory team.
Ric Traynor, Executive Chairman of Begbies Traynor Group plc commented: “Begbies Traynor has always delivered these services to our clients but we have now formalised this by recruiting Len to head up the team and focus all of our internal resource and expertise together with a targeted recruitment programme. I see a lot of client need in this area and I am confident that Len and his team can provide quality advice at a sensible cost.”
The BTG Pensions Advisory team will be actively involved in the undertaking of covenant assessments and independent business reviews for scheme funding negotiations; assessing the impact on employer covenant of proposed corporate transactions, group reorganisations, restructuring and refinancing; issues arising from scheme related events such as closures, buy-outs; and other liability limiting proposals.
Commenting on his appointment and role, Len Fawke said: “The work my team and I undertake for clients is increasingly important and the team is perfectly positioned to respond to the growing demand. I have been involved in the pensions sector for many years and joining Begbies Traynor provides me with a great opportunity to further establish and grow our reputation.”
Ric qualified with Arthur Andersen in 1984 and founded Begbies Traynor in 1989. Ric specialises in practice management and has considerable experience in financial turnaround and dispute resolution within professional practices.