Johnston Carmichael appoints new head of restructuring

Donald McNaught
Donald McNaught

Johnston Carmichael has appointed Glasgow partner Donald McNaught as head of restructuring as part of a continued focus on effective succession planning for key leadership positions.

Mr McNaught takes over from Matt Henderson, who led the team through a period of strong growth during which the team grew from five people across two locations, to 25 people across four locations.

The firm has been involved in several of Scotland’s highest-profile cases, including the liquidation of the Glasgow 2014 Commonwealth Games; the winding down of Airdrie Savings Bank in April, the last independent savings bank in the UK; and this month’s receivership of construction firm Crummock.

Mr McNaught is also convenor of the Institute of Chartered Accountants of Scotland (ICAS) insolvency committee.

Commenting on his appointment, he said: “After starting with an empty desk in a department of one in 2011, I’m delighted to see a 12-strong team now operating out of Glasgow. I’m proud to be involved in the growth story for our restructuring business and look forward to continuing it as head of restructuring along with my partners Gordon MacLure, based in Aberdeen and Matt Henderson, based in Edinburgh.

“Against a backdrop of a declining insolvency market, and increased competition, we have expanded the team and service line by developing alternative routes to market. We’re now providing solutions that work for debtors, creditors and regulators.”

Johnston Carmichael’s restructuring and insolvency business has been further boosted recently by the recruitment of Martin Barr from the money advice sector. Mr Barr, who has over 20 years’ experience in money advice and insolvency, will now lead the personal debt team.

Chief executive Sandy Manson said: “Donald’s drive, passion and ambition make him an excellent candidate to lead our restructuring team in the next stage of their development. His promotion, and the raft of strategic hires we’ve made in recent years, show our commitment to building a firm fit for the future.

“These appointments will, I believe, only enhance our existing strong capability as we expand our range of services and embrace new technologies to meet the ever-evolving needs of our clients.”

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