Taking up the role with immediate effect, Graeme will lead the firm’s restructuring business line, supported by partners Donald McNaught and Richard Bathgate.

Donald, who previously led the team, will continue to play an important senior role, focusing on a targeted portfolio of strategic work.

Richard will maintain a strong focus on business development and external engagement, helping to further strengthen the team’s profile in the market. 

The transition also follows the recent progression of Sarah Bedford to an appointment-taking director, adding further depth to Johnston Carmichael’s experienced restructuring team across Scotland.

Graeme Bain said: “I am extremely proud to lead Johnston Carmichael’s restructuring team at a time when the importance of clear, practical and commercial advice really can’t be underestimated.

“Our team has great strength and depth across a range of sectors. It’s exciting to be stepping into this role as we continue to support directors, creditors and other stakeholders through a range of complex and often challenging scenarios.

“The restructuring market continues to evolve, and our focus remains on giving clients the clarity and confidence they need to make informed decisions at critical moments.”

Mark Houston, chair and senior partner at Johnston Carmichael, said: “At a time when many businesses are having to make important decisions in challenging conditions, the role of experienced, trusted advisers is more important than ever.

“Graeme has built an excellent reputation with clients and colleagues alike, and his leadership will help ensure we continue to provide the depth of support businesses need as they respond to changing conditions.”

Lynne Walker, CEO of Johnston Carmichael, said: “Graeme’s appointment reflects both the strength of our restructuring team and the importance we place on long-term succession planning across the firm.

“He brings considerable experience, technical expertise and a clear understanding of the challenges facing businesses and individuals in the current market. Under his leadership, and with the continued support of Donald, Richard and the wider team, our restructuring practice is well placed to continue delivering the practical, commercial advice our clients need and value.”