Financial man to chair IFT in region

Jan 13 2010 by Chris Knox, The Journal

A DIRECTOR at financial services firm Grant Thornton has been appointed chairman of the Institute for Turnaround (IFT) in the North East.

Daren Bekisz, a recovery and reorganisation specialist, will be working closely with the IFT national leadership to raise the profile of the Institute in the region’s business community.

IFT is the independent professional body that represents those help underperforming businesses find fresh funding and reorganise their business so it is fit for success.

IFT has a membership of accredited turnaround executives and advisers, with corporate partners involved in law, accountancy, corporate banking and finance, private equity, asset-based lending and other fields.

Founded in 2000 as STP (The Society of Turnaround Professionals), the IFT achieved Institute status in 2008.

Mr Bekisz said: “My primary aim during 2010 will be to increase general awareness of the IFT and the ability of its members to add value to challenging situations.

“IFT is very well known among turnaround professionals, but less so among the wider business community.

“I anticipate that the next 12 months will see more turnaround activity as distressed businesses begin to understand that options and help are available to them.

“Tackling problems early will enable new business plans and strategies to be developed and funded to allow a business to continue and preserve the employment that it provides.”

Daren has a decade of experience advising lenders and corporates in restructuring assignments and has worked across a broad range of industry sectors, covering both UK and international businesses.

He has worked at Grant Thornton for three years, and his experience comes from advising and managing stakeholders in distressed businesses and delivering solutions.

This includes bank workouts and financial restructuring.