Dominic Barton appointed IIRC Chair for next strategic phase

12 October 2018

Former Global Managing Partner of McKinsey & Company Dominic Barton has landed a new role with the International Integrated Reporting Council. As Chair of the global entity, Barton will work to ensure that corporations put sustainability as a central tenet of their long-term business plan.

Having first arrived at the firm in 1986, Dominic Barton spent the last nine years as global strategy and management consultancy McKinsey & Company's Global Managing Partner. Barton, who had previously led the firm’s Korean office, before becoming Chair of its Asian wing, helmed the company for the maximum three terms, before being replaced by Kevin Sneader in 2018.

The long-standing head of McKinsey presided over a solid period of expansion, growing well beyond what the firm had historically witnessed. Commenting in 2016, in fact, Barton said McKinsey’s impact, top talent attraction, and financial results were “better than ever before.” This was not to say that his time in charge was without its problems, however, and McKinsey suffered in South Africa thanks to the on-going Gupta family saga – something which Barton has since said he regrets, telling the Australian Financial Review, “I needed to do a better job of embracing it,” in regards to errors of judgement in how he handled the crisis.

Despite this, his stewardship of the company still ended with Barton’s popularity riding high among staff and consultants. With an employee approval rating of 96%, he was found to be the joint most popular CEO in the managing consulting industry, alongside Accenture’s Pierre Nanterme.

Dominic Barton appointed IIRC Chair for next strategic phase

Now, as the Global Managing Partner Emeritus prepares for life after McKinsey’s hot-seat, Barton has been appointed as the Chair of the International Integrated Reporting Council (IIRC). The group was formed with the remit of developing the globally accepted International IR Framework that elicits from organisations material information about their strategy, governance, performance and prospects in a clear, concise and comparable format. The aim of the organisation remains to foster transparency in the corporate world, accelerating the evolution of business reporting to reflect increased demand for scrutiny in financial, governance, management commentary and sustainability reporting. Currently, around 1,600 companies spanning more than 65 countries utilise integrated reporting principles to communicate their activities and value creation.

Barton’s first duty as Chair saw him head to Paris in early October, where he oversaw an IIRC meeting to launch its new global strategy, to be known as the “Momentum Phase”. This is aimed at seeing the council stepping up its campaign for worldwide adoption of integrated thinking as a better way of doing business. Key objectives include promoting integrated thinking as a driver of effective corporate governance, and creating a policy and regulatory environment that encourages moves towards integrated reporting, among others, while also pushing for the US and China to adopt integrated reporting.

As it looks to forge ahead, IIRC Chief Executive Richard Howitt said that Barton’s appointment was “a sure sign of the momentum which integrated reporting continues to build across the world.” He added, “As one of the leading proponents for long-termism and inclusive capitalism, I am delighted that Dominic Barton will be working with us to drive that momentum towards integrated reporting globally as chair of the IIRC council.”

Barton is keen to put his in-depth experience to work for the IIRC, said, “We can ensure that business is working for society, for the planet and for all stakeholders… That is why the first decision I made when stepping down from the global managing partner role at McKinsey was to join the IIRC as its council chair and I look forward to working with the team as we launch this new momentum phase.”

The new Chair takes up the position from out-going Professor Judge Mervyn King, who was among the founding members of the IIRC eight years ago. Since its launch in 2010, the coalition has expanded to embrace more than 70 organisations, including regulators, investors, companies, standard-setters, the accounting profession and NGOs.

Related: Lawyers cross-examine Big Four for climate reporting of audit clients. 

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Rapid growth sees Quantum Advisory promote trio of partners

18 April 2019

Three senior level consultants have been boosted to the rank of Partner at Quantum Advisory, as the firm works to meet heightened levels of client demand. Aled Edwards, Amanda Burdge and Chris Heirene become Partners as long-time Quantum member Rob Davies retires in May after 15 years as a Partner at the firm.

Founded in 2000, Quantum Advisory provides pension and employee benefits services to employers, scheme trustees and members, with five offices across the UK. The firm has enjoyed exponential growth in recent years, following a number of major client wins and booming demand for its services. It opened a new office in Bristol in 2016 to service the South West and in 2017 relocated its Cardiff office to a larger site within the Welsh capital to house the increased workforce. More recently, Quantum relocated its Amersham, Birmingham and London offices to more spacious premises in the centre of both cities to cope with demand.

The financial services consultancy, which employs 115 people across the UK, has promoted three senior team members to Partner, as part of its wider growth plans. The firm has moved Aled Edwards from Principal Consultant & Actuary, while Amanda Burdge has ascended from Principal Investment Consultant. Chris Heirene, former IT Manager, has also joined the ten current Partners at Quantum.

Aled Edwards most recently managed the actuarial team within Quantum’s Cardiff office as well as providing technical training for all staff. He boasts more than 17 years of pensions experience. He started his career as an Actuary at Jardine Lloyd Thompson’s Bristol wing, before joining Quantum in 2011. Edwards is also the President of the Welsh Actuarial Society (WAS), which supports actuaries and actuarial students living or working in Wales.

Rapid growth sees Quantum Advisory promote trio of Partners

Amanda Burdge joined Quantum’s team in 2001, as one of the fledgling firm’s first employees. Most recently she was a Principal Investment Consultant with the firm, and with more than a quarter of a century’s experience in the sector, she is responsible for providing investment advice to many of Quantum’s key clients with both defined benefit and defined contribution schemes. Prior to her time with Quantum, Burdge spent two years as a consultant with SBJ Benefit Consultants (now Capita), and three years with Tesco Pension Trustees. She currently sits on the Regulation Committee for the Pensions Management Institute.

Chris Heirene initially worked with Quantum as an IT Consultant with Teamwork Technology Services and then UES for over five years, before finally joining the firm itself in 2011. He is now responsible for Quantum’s IT systems across all of its offices, including the network and core server infrastructure which supports the business. Heirene is heavily involved in utilising IT to improve and build upon the processes in place throughout Quantum.

David Deidun, Partner at Quantum Advisory, said of the promotions, “This is a very exciting time for Quantum. The recent round of promotions fully recognise the hard work and dedication shown by the three, all of whom go above and beyond for the company. I’ve no doubt that Aled, Amanda and Chris will settle into their new roles with ease and look forward to working together to grow Quantum even further.”

The news comes as Rob Davies retires in May, after spending fifteen years as a Partner at Quantum. A qualified actuary, Davies was instrumental in setting up Quantum’s Investment Division, specialising in aiding clients with their investment strategies. He will remain with the company on a part-time consultancy basis, while working with several clients in the Fiduciary Manager area.