Financial and real estate advisory firm Begbies Traynor Group has appointed Mark Fry as its first-ever group CEO following its rapid expansion over the past decade.
Fry, who has been with the Manchester-headquartered business since 2005, was most recently executive director and head of restructuring and advisory services.
In his new role, he will lead day-to-day operations, drive the group’s growth strategy and oversee overall business performance, while continuing as a senior fee-earning partner.
The London-listed firm, which specialises in insolvency, restructuring, financial advisory and real estate services, has grown significantly in the last 10 years, tripling in size and achieving a six-fold increase in adjusted pre-tax profit.
Ric Traynor remains executive chairman, focusing on strategic development, while Nick Taylor continues as CFO, a role he has held since 2010.
The company has also created a new management board to support Fry and Taylor.
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This will include managing partners Julian Pitts, who takes over restructuring services, and Anthony Spencer, who leads the real estate advisory division. Fry will retain responsibility for financial advisory services.
“Having significantly grown the group over the last ten years, now is the time to evolve and optimise our leadership structure,” said Traynor.
“The changes being implemented will enable us to both manage the increased scale of the Begbies Traynor Group, whilst ensuring we have the right team in place to achieve our growth ambitions.
“Mark has all the right attributes to be our CEO; having joined Begbies Traynor in 2005, he has led our restructuring and advisory division since 2010 during a period of rapid organic and acquisitive growth, whilst successfully delivering our strategy to increase our reputation in the mid-market.
“I am excited for the next stage of our development and look forward to working with Mark and Nick and our teams to deliver our ambitious plans.”
Fry added: “I am delighted to have been appointed to the newly created role of Begbies Traynor Group CEO.
“I am looking forward to working alongside the leadership team to deliver our growth ambitions.
“We have a very experienced and talented team underpinned by a strong culture that Ric has built up over more than thirty years, leaving us very well placed to continue to deliver for both shareholders and stakeholders.”