Ringing the Changes with The Richmond Finance Directors Forum

"All change" - finance, enterprise and the economy ( An editorial preview of what to expect at November’s The Richmond Finance Directors' Forum )

November sees the first forum in 14 years under a Labour government. But the change we’re all facing isn’t just political. Join us to sharpen your wits around the personal, functional, enterprise and economic changes that will be defining decision-making in 2025 and beyond.

 “Change is the only constant” is a pretty hackneyed phrase. But 2024 has been a year of accelerated change in the economy, politics, society, technology… And that means it’s never been more important to share ideas about your decisions now, next and later.

At The FD Forum on 12th-13th November at The Grove , we’ll be putting FDs and CFOs in touch with scores of suppliers from every field to get crucial updates on developments, threats and opportunities. And as usual, we’ll have industry briefings, moderated discussion groups, and personal development sessions to help you refresh your thinking and adapt to change.

One change most of us would like to see is a shift in the year ahead is interest rates. Across the world, central banks have been holding the line as they nervously eye stubborn underlying inflation and economic uncertainty. Might 2025 herald the start of a reduction cycle at last? You don’t have to be facing a refinancing to know the value of understanding how policy trends filter into lender decisions. It could be critical for us all in the year ahead.

Pulling back the curtain on lender strategy will be Lyle Ammon, head of Commercial Finance at risk and cash management experts Birchstone. Lyle’s got 15 years’ experience arranging finance for businesses. Now he’s in the advisory game, and he’ll be delving into the inner workings of the bankers’ black boxes to help you explore your options. “It’s not just about what you’re able to borrow, why and under what terms,” he says. “I want to explore the popular strategies for working capital management and how the changes in the lending landscape are defining the FD’s decision-making.”

For many management teams, the ownership structure of the business is a huge deal. And changing that structure can be a career-defining moment. That’s why we’ve invited two seasoned finance directors, with plenty of war-stories, to demystify two of the most popular moves.

Jim Weight will be guiding delegates through one of the riskiest moves for FDs: taking on a private equity backer. The figures are frightening – one CFO.com analysis showed PE backers retain the finance chief in just 25% of acquired businesses. And even for the survivors, the odds of coming out the other end with a pension-sized equity payout aren’t great. And yet, with billions in dry powder and a thirst to do deals, the private equity acquisition machine is something every FD should be ready to face. Jim’s been finance chief in several high profile PE-back firms (including HiT Entertainment and Westminster Healthcare) and for the past 15 years has run his own PE firm. He’s got your back.

But PE isn’t the only game in town. As the London Stock Exchange continues to woo both foreign and domestic businesses to list in the City, floating a business – and offering PE backers or family owners an exit – remains a crucial option every board should bear in mind when change is on the cards. To explain why – and what the IPO process looks like for a finance director – welcome David Tilston, a veteran FD and now properly plural exec who’s shepherded companies through turnarounds, flotations and more. He’ll explain why quoted-company experience remains so valuable to an FD’s career – and how to navigate not just the thicket of advisers, but what happens post-deal when they all melt away.

One way to manage change effectively – especially when you’re facing the emergence of unexpected risks – is a robust governance framework. Erika Eliasson-Norris, CEO at Beyond Governance, says this sits are the very heart of the finance director’s role. “I see governance as piloting – taking ownership, rule-making, steering, and monitoring,” she says – all solid FD remits. “These are all natural processes for finance leaders. They often see governance as a way of tethering the organisation and its decision-making.” Erika will be introducing the “governance wheel of fortune”, explaining how different approaches and structures can super-charge your risk management (and minimise your headaches).

We’re delighted that she’ll also be moderating a discussion group exploring best practice for communicating your risk appetite to the business. If your people don’t understand what risks they can and can’t (or, in some cases, must) take, your ability to exploit change is neutralised.

The finance function is still often seen as a controlling department. But it’s also the team people turn to when they’re looking to contextualise change. Are our growth options sensible? What risks are we running? How will we cope with shifts – positive or negative – in our trading environment? The most effective finance functions will have played the long game and become the bridge between departments to ensure organisational response to change is co-ordinated and aligned to strategy. Martin Nilsson, CFO at construction group Careys, has spent 25 years working in several different contexts (including stints in banking to private equity) and has seen both positive and potential disastrous change up close. His session promises to be a masterclass in positioning finance as that bridge – making making the FD a coach for both growth and resilience.

Not all the change the finance team faces is a “burning platform” – or, at least, it doesn’t have to be. Finance function transformation projects usually kick off for the best of reasons – becoming a better aide to the business, sharpening up processes, delivering technological step-change. But upending established procedures and shifting people’s roles can be deeply unsettling. Sometimes transformation hits operational bumps in the roads; often it’s met with resistance from the people it affects. Helping you navigate those obstacles is Catherine de la Poer, founder of Halcyon, a coaching organisation focused on developing emotional intelligence. She’ll be laying out tactics for tackling the three Cs in your team: capacity (burnout risk), capability (re-imagine operating models, re-learn ABCs, effective execution), and change fatigue (BAU vs disruption). If there’s change in offing, you won’t want to miss it.

Change affects the environment we operate in, our businesses, and our teams. But it gets personal too. For many FDs changing roles can be a nervous prospect – especially if you’re shifting sectors, ownership structure, or type of finance role. One FD who’s done just that is Sarah Ashby, CFO at childcare retailer Mamas & Papas, who made the jump from senior FD roles at supermarket giant Asda and a career spent at multinational food brands. She’ll be passing on the lessons of her own career change and laying out the positives that come from a shift of mindset, not just letterhead. You don’t need to be considering an imminent move to benefit from her experience – we all want change sooner or later.

Keep an eye out for more confirmed sessions during the summer as we round out this definitive guide to managing change in a year of seismic shifts. By the time hundreds of FDs, CFOs are gathering at the Grove in Hertfordshire, we’ll have a new Labour government, a new (old) US President waiting to take office, a new European Parliament – and new ideas about what’s possible for your business in 2025. Don’t miss it.

Thank you for reading this article. You can contact me at amacey@richmondevents.com

For further details on how to attend, please contact Georgia Brown

  Richmond Events