Corporate Finance team boosted across Scotland

Three senior dealmakers have been recruited to join Scotland's largest independent accountancy firm in a bold move signalling increasing confidence in the opportunities in the market. 

Johnston Carmichael has appointed Andrew Ewing as Partner and James Thompson as Assistant Director to join the firm's Corporate Finance team in Edinburgh.  Both join the firm from Springfords.

Meanwhile, Jamie Ritchie has also joined the firm as Corporate Finance Director in the Aberdeen office from Clydesdale Bank.

Sandy Manson, Chief Executive of Johnston Carmichael, commented; 

"Attracting first class talent to join Johnston Carmichael is vital for our future growth and we're delighted to announce a significant strengthening of our corporate finance capability with these exciting appointments."

"Andrew and James will play key roles in supporting the ongoing expansion of our Edinburgh practice while Jamie brings a wealth of experience to the firm from his time in the structured finance team of a major bank and this will greatly assist clients in both fundraising and debt restructuring work.

"These strategic appointments come at a time when, despite the many uncertainties we see in the Scottish economy, we remain positive about the long term prospects.  We therefore believe the time is right to further invest in the people talent which will help drive our business forward. These appointments make our Corporate Finance Team one of the largest in Scotland."

Andrew Ewing, who takes up his post in Edinburgh this week, commented;

"Johnston Carmichael has made tremendous headway in recent years winning clients and attracting good people.  I have long admired their performance as a successful business so this is a great opportunity to join a truly Scottish firm to develop and grow client relationships in Edinburgh."

Andrew Walker, Corporate Finance Partner in Aberdeen said: "I believe the first-hand knowledge Jamie has accrued from his 16 years within the various departments of the bank will prove invaluable for our clients.

"From his time on the 'other side of the desk', he is perfectly placed, to guide our clients through the ever-changing banking environment for businesses and provide them with a fresh perspective on how their finances can be best progressed for maximum benefits, whether it be renewing existing facilities, dealing with covenant compliance or accessing new facilities for growth initiatives.

Jamie Ritchie added: "Johnston Carmichael is a rapidly growing firm with an established reputation among Scottish businesses. I look forward to using my experience to assist the firm's corporate clients in making the right financial decisions for their businesses going forward."

Last year, Johnston Carmichael also appointed Jack Ogston as a non-executive adviser to the firm.

THE NEW RECRUITS

Andrew Ewing BA CA, Partner, Corporate Finance, Edinburgh            

Andrew qualified with Coopers & Lybrand before helping the Scottish Prison Service to set up their finance department and systems.  He moved to KPMG Corporate Finance and worked on a range of assignments from PFI to disposals by listed companies.  Joining Macdonald Hotels plc saw him involved in the development of the company's portfolio including the launch of the Holyrood Hotel and the acquisition of 49 Heritage Hotels from the Compass Group.  Andrew joined Springfords in 2002 and has been involved in due diligence, MBO/MBIs and disposal work.

James Thompson MA (Hons) CA, Assistant Director, Corporate Finance, Edinburgh          

James trained with Deloitte & Touche in Edinburgh in 2002, working with clients in a wide range of industries.  He joined Edinburgh firm, Springfords in 2006 and has project managed a number of high value transactions, including the disposal of a pharmacy business and the launch of a commercial property fund. In addition, he has been responsible for a number of financial modelling and due diligence assignments across a range of sectors including healthcare, manufacturing, property and recruitment.

Jamie Ritchie, MCIBS, Chartered Banker, Director, Corporate Finance, Aberdeen

Jamie Ritchie latterly was Director - Corporate and Structured Finance at the Clydesdale Bank plc a position he held since 2005.  Prior to this, he held a number of positions with the Clydesdale including roles in businesses banking, corporate banking and leveraged credit.   He has a wealth of experience in deal execution, as well as expertise in sourcing and structuring corporate finance transactions and arranging multi-bank financing for major corporate clients in a variety of sectors.