Teneo Restructuring appoints Tom Wood as Senior Advisor

01 December 2021 Consultancy.uk 1 min. read
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Global CEO advisory firm Teneo has appointed Tom Wood as a Senior Advisor within its financial services restructuring business. The news comes as demand for restructuring work rises around the world.

The number of corporate insolvencies is rising rapidly. In 2022, this may get even worse – as global corporate insolvency numbers are expected to increase by 33%, returning to levels not seen since before the pandemic began. This is 60% higher than in 2009, during the global financial crisis. This means that consultancies which offer restructuring services are presently preparing for heightened demand in the months ahead.

Teneo is an international management consultancy, working with the CEOs and senior executives of the world’s leading companies to provide strategic counsel across a range of key objectives and issues. Spun off from Deloitte earlier in 2021, Teneo’s restructuring business works to assist financial services businesses, ensuring maximised value for stakeholders in circumstances where businesses are financially challenged, or when they need to exit the market.

Teneo Restructuring appoints Tom Wood as Senior Advisor

Tom Wood arrives with Teneo having served as Chief Restructuring and Financial Officer at the Co-Op Bank between 2017 and 2019. Prior to that, he held the CFO and CEO roles at Shawbrook Bank. During these spells, he played a leading role in helping large financial institutions develop and deliver their restructuring and recovery plans in challenging financial circumstances. He is also a Trustee for UK homeless charity Centrepoint.

Dan Butters, CEO of Teneo Restructuring commented on the appointment, "Tom's experience and knowledge will really complement our financial services restructuring offering to our clients and we are delighted Tom will be part of the team.”