The updated structure also sees Mark Fry named Begbies Traynor Group CEO. In his new role Mr Fry will drive the day-to-day leadership of the firm as it prepares for further growth and integration of its portfolio of financial advisory businesses across the UK, including Scotland and Northern Ireland.

In Scotland and Northern Ireland the group has six offices across Aberdeen, Belfast, Dundee, Edinburgh, Inverness and Glasgow, where Mr McKay is based.

Mr McKay, a veteran restructuring professional who has been with the firm more than 20 years, takes over leadership of the Begbies Traynor Group’s interest in Scotland and Northern Ireland from former-managing partner Ken Pattullo, who is stepping back to partner after more than a decade in the role.

Mark Fry, group CEO of Begbies Traynor Group, said: “We have a very experienced and talented team underpinned by a strong culture that Ric Traynor has built over more than 30 years. This has positioned us strongly to continue delivering for both shareholders and stakeholders.

“Thomas is ideally placed to lead the business in Scotland and Northern Ireland at what is an exciting time. His experience and expertise will be very useful as the firm moves towards its next stage of growth.”

Mr McKay said: “I am thrilled to have the opportunity to be part of this new national board structure, and to lead the group in Scotland and Northern Ireland.

“The firm has expanded over the last two decades both in terms of its restructuring and insolvency teams, while also diversifying into many other complementary areas of business advisory work, such as our growing debt and property advisory businesses, which includes Eddisons.”

Mr McKay continued: “The new board structure will help us to integrate all these parts of the group and enable further growth in this region.

“We are the market leader in insolvency and restructuring in Scotland and have invested in resource to provide insolvency and restructuring services across the country, with a focus on helping individuals and companies who may experience financial distress.

“We look forward to bringing on board new business and new colleagues to help us build the knowledge and expertise of the firm here.”