November marks the end of the 8th year of CCBS Group. As the world of finance recovers from global factors relating to the pandemic, Brexit, and the war in Ukraine to name a few, this was always going to be a transitional year for the business.
What did you set out to achieve this year?
In 2020 we set out some clear plans about where we wanted to be over the next three years, and whilst this period has been affected by the global factors, we have in general achieved what we set out to achieve in the first two years. We also decided to strengthen the team, and Steven Foley joined us fresh from a 36-year stint with Natwest Bank. He has broadened our offering, brought stronger focus to some of our processes and will spearhead our client development strategy whilst also working closely with strategic partners of the business. We also found a new home and relocated to St Peter’s Basin and have settled quickly into our new surroundings. So, all in all I think we have got to where we wanted to be this year which is testament to the quality of the team here.
Has everything gone according to plan?
We have been working with a client this year and the chairman said something I will remember going forward in relation to business plans. Point 1 – It will be wrong: Point 2 – they will fail at some part of it. This year has probably been the toughest one yet. We scaled up, moved premises but then found trading really tough in the early part of the year. This was probably affected by factors we have no control over, but we definitely found it difficult to get deals ‘over the line’. As a business community we need to get back to the focussed approach of delivering for our clients. I am, for one, not convinced of the new working practices of ‘flexible working’ being conducive to that goal and advisory businesses need to realise that and take corrective action.
How has the business adapted following the pandemic?
The pandemic has presented many challenges to our clients, especially with how the funding marketplace has changed throughout. I feel we have had a pretty strong handle on which funders have appetite and more importantly able to deliver, so we have worked really hard to keep our clients and professional intermediaries abreast of the changes. This continues to change so we are staying even closer to our panel of funders. What are you most proud of this year?
We will finish this year with more than 15% fee income growth in the year. As I said above, there was a period in the year where I did not think we would get there. To achieve that shows the tenacity of the CCBS team to deliver for our clients. We have also collaborated with our professional intermediaries to achieve some outstanding results. This level of collaboration shows the North East business community at its best. What’s been the most enjoyable business social event you have attended?
I was lucky enough to be invited to play golf at Royal Liverpool Golf Club which will be the home of the 151st Open next summer. It’s always great to play a course on the Open roster, and to play well made it even better.
Describe 2022 in three words…
Turbulent. Transitional. Bruno.
What are your aims for 2023?
We have grown the team and settled into our new offices, and so next year will be to build on the success of 2022, with particular focus on driving efficiencies into what we do. That will allow us to better service our client base, professional intermediaries, and prospective clients. It certainly seems that we are going to be busy.