Paul Eagland begins his four-year term as BDO’s Managing Partner this week pledging to make the most of the opportunities arising from a rapidly changing marketplace and to continue BDO’s track record of profitable and sustainable growth. The firm has increased revenues by 40% over the last three years.
With dramatic market developments in technology, regulation and the UK’s relationship with the EU, Paul will focus his leadership on ensuring BDO helps its clients understand and seize the opportunities that come with change.
For BDO this means continued investment in its people, new technology, closer ties with its $7.3bn global network across 154 countries and a culture which attracts the profession’s brightest and best people.
Paul Eagland, BDO’s Managing Partner, said:
“The pace of regulatory, technological and political change has never been faster. With our investments in digital, in our culture and in our extensive international network, we’re perfectly placed to help businesses grow and succeed in a changing world.
“We’re big enough to be able to assemble the best group of subject matter experts, from our national and international networks, to find the right solution for each and every client. And we’re small enough to be agile, creative and innovative in the way we tackle client challenges. No one else in the market can combine our scale with our agility.”
Encouraging the next generation
Paul is passionate about encouraging the next generation of business advisers entering the profession. The firm already has nearly 800 trainees on its school leaver and graduate programmes and will continue to recruit in the coming years.
In particular, Paul wants to continue BDO’s focus on an inclusive culture where background has no relevance to success and people are encouraged to be themselves. Paul entered the profession by undertaking a one year Foundation Course at City of London Polytechnic before qualifying as a Chartered Accountant with a small firm in Central London. He then joined BDO at age 22 to qualify as a tax specialist.
Since joining BDO, Paul has held a number of high profile roles including Head of National Tax, Head of National Audit and Head of National Professional Services. Paul feels that his route into the profession and variety of roles has provided him with particular insight into how others make personal choices throughout their careers and he wants to ensure that BDO does all that it can to support people in their decision making.
He says: “The accountancy profession is almost unrecognisable compared to when I started 30 years ago. The stereotype of the Monty Python ‘bean counter’ no longer exists. Businesses want advisers who understand technology, global markets and have genuine commercial acumen. Supporting social mobility and ensuring everyone has an equal chance of accessing the profession, based on merit not background, is high on my agenda. I’m proud of my background and some of the personal decisions I have made, including choosing not to go to university, resulted in unexpected boosts to my career. No one can provide definitive advice to others with regard to personal career choices. We can, however, provide as much relevant information as possible to help each individual make their personal choice.”
Championing the cause of the UK economic engine
Alongside his commitment to continue investment in talent and technology, Paul will champion the needs of BDO’s client heartland – the ambitious, entrepreneurially spirited and high-growth businesses that fuel the economy.
In the last 12 months, BDO has advised almost 23,000 clients which, between them, generate £300bn in revenue, £16bn in profit and employ two million people across the UK.
Paul Eagland continued: “Our clients represent Britain’s economic engine. They make huge contributions to the UK economy; yet they are frequently overlooked and undervalued by policymakers. With so many major policy decisions being made by the Government in the months ahead, it’s vital that the voice of the UK economic engine is heard. ”
New Leadership Team unveiled
As part of his first day in the role, Paul has announced his new Leadership Team. The new team, whose positions have been endorsed by a vote of BDO’s partners, also now take office. In tandem with their client portfolios, the new Leadership Team will be responsible for the overall strategic direction of the firm.
BDO’s new Leadership Team is:
· Paul Eagland – Managing Partner. Before being elected Managing Partner Paul was Head of National Professional Services and before that Head of National Audit and Assurance and Head of National Tax
· Andy Butterworth – Chief Operating Officer and Tax Partner. Andy has 30 years of tax experience and is National Head of Tax
· Scott Knight – Audit Partner. Scott has been a member of BDO’s Leadership Team since 2014 and is National Head of Audit and Assurance
· Wendy Walton – Tax Partner. Wendy is head of Global Private Client Services and is a senior partner in the Private Client Tax Services group in London
· Chris Grove – Corporate Finance Partner. Chris has over 25 years of experience and heads up BDO’s National Transaction Services team
· Gervase MacGregor – Forensics Partner. Gervase has been a member of the BDO Leadership Team since 2008 and is Head of International Advisory Services and Head of Forensic Accounting
· Lesley MacDonagh – Independent Non-Executive since 2008. Prior to this, Lesley was Managing Partner at the law firm, Lovells
· Simon Figgis – Independent Non-Executive since 2013. Prior to this Simon was Head of Audit Quality and Risk Management at KPMG overseeing quality in 19 countries across Europe and the Middle East.
The new Leadership Team will build upon the success of the previous Managing Partner Simon Michaels whose maximum two four year terms finished at the end of September. BDO’s UK revenues have grown over 40% in the last three years, with the firm employing nearly 3,500 people in 18 UK offices.
Managing Partner, Paul Eagland, said:
“This is a great team to lead BDO into its next stage. Our strong balance sheet and financial stability means we can invest for the long term. Simon has left a legacy of financial stability, empowered people and innovation.”