Opus brings Allister Manson on board to spearhead technology wing
Restructuring consultancy Opus has brought Allister Manson on board to spearhead the firm’s newly launched technology practice. Manson brings two decades of restructuring and insolvency experience to the role.
While notable names across British industry continue to suffer from rising business costs and stagnant sales rates, the UK faces a gloomy economic outlook ahead of Brexit’s finalisation in March 2019. However, just as recessions never seem to impact the local undertaker, so the consulting industry continues to ride a wave of successful expansion into the New Year. Amid this continuing period of growth for the sector, one segment in particular is doing unsurprisingly well: restructuring.
Even the UK’s technology sector has been hit, with phone maker WileyFox one of multiple casualties to have collapsed in 2018, despite the huge demand for digital products at present. The restructuring and insolvency consulting scene, which is involved in liquidation, administration and corporate rescue proceedings in the UK is thriving at present.
In line with this, consulting firm Opus saw a highly successful 2018, which has included the opening of a new Birmingham office as well as expanding the group to deliver specialist forensic accounting, corporate finance and business turnaround services. Now, Opus is looking to expand its insolvency and restructuring practice into the technology sector.
As the firm looks to grow rapidly with its new offering, it has appointed Allister Manson to head up its new practice. A qualified insolvency practitioner and chartered accountant, Manson brings more than 20 years of insolvency and restructuring experience to the role, supporting businesses from start-ups to established software, hardware and tech service providers.
Prior to joining Opus, Manson worked to support the technology sector at Cork Gully, having previously worked for Big Four firms PwC in the UK and KPMG in the Cayman Islands. As well as an extensive career in accounting, Manson brings significant tech experience to the role, having spent five years managing and advising Fintech companies in Latin America, as well as currently supporting tech businesses as a mentor at the Startupbootcamp.
One of Manson’s opening engagements as the head of Opus’ technology team is the administration of Cubits, a well-known online crypto-currency exchange. The group suffered a £30 million fraud in 2018, which ultimately led to its collapse. Manson and his team are now looking to sell off the firm’s intellectual property, while collaborating with Opus’ forensic team to continue to pursue the Bitcoin and cash that was stolen.
Speaking about his new role, Manson said, “Understanding the value of intellectual property and being able to engage with management in technology-based organisations is critical, particularly when a business is looking to restructure. Whilst the technology market is seeing lots of innovation, unfortunately, not all ideas prosper and our services can be required. In other cases, businesses are looking to scale quickly and require help getting to the next level, which is also where my team can assist.”
