Lee Lockwood joins RSM as Partner in restructuring wing
RSM has appointed Lee Lockwood to its restructuring advisory team in Leeds. The new Partner arrives as the firm looks to support heightened demand from clients in financial distress across Yorkshire.
In the last financial year, RSM’s consulting wing saw the biggest growth in demand of 15%, as it supported middle market business leaders in their response to the pandemic, the reorganisation of their business operations. As the global audit, tax and consulting company looks to build for further growth on this basis, it has welcomed Lee Lockwood to its Leeds office. Joining the restructuring advisory team, Lockwood will take on the role of Partner, working with the growing restructuring advisory team at RSM to support regional businesses through uncertain economic times.
The news following the similar arrivals of technology risk specialist Paul O’Leary and corporate tax professional Thomas Dews earlier in 2021. According to RSM Leeds’ Managing Partner Michael Thornton, the appointment reflects the firm’s continued commitment to invest in key talent and expertise to drive further growth.
Michael Thornton, RSM office managing partner in Leeds, said, “While the restructuring market has been relatively quiet during the pandemic due to government support, if the predictions are right, Lee joins us at the perfect time to help support clients as we come out of lockdown.”
Recently, the heavy demand for restructuring in the North of England saw RSM complete the sale of Bonmarché, a clothing retailer based in Wakefield, West Yorkshire. The move reportedly secured around 531 of Bonmarché’s jobs.
Lockwood joins RSM via restructuring expert firm Begbies Traynor. There he gained over 13 years of experience working alongside large corporates, advising on a range of restructuring and distressed situations. He also ran a two-year project on secondment with National Australia Bank advising on the disposal of distressed property assets.
Speaking on his appointment, Lockwood, added, “The restructuring advisory team at RSM is highly regarded in the market and I’m looking forward to working with the growing team to help businesses to navigate what is likely to be a difficult time for many following the Covid-19 pandemic.”
The last year was a difficult one for most aspects of the professional services industry, with a few key exceptions. Perhaps the most pronounced of these was the restructuring segment, with businesses across the UK falling into financial distress at a rapid rate. With the government’s job protection schemes being scaled back in 2021, that number looks set to rise further throughout the year. Audit and advisory firms are subsequently positioning themselves to meet spiralling demand for restructuring work.
