CompaniesJan 14 2014

Perspective’s Craddock and Carr step down

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Phil Carr, Perspective’s finance director, and Peter Craddock, Perspective’s group operations director, have stepped down from their roles in the advisory group.

However, Mr Craddock remains in a consultancy role to ease the transition period to a new management team.

Paul Hogarth, executive chairman of Perspective, said: “The company has grown to be one of the largest and most profitable financial advisory groups in the country. Since formation in 2008, the group has completed over 30 acquisitions and has now reached the point where it is a mature financial services business.

“It is now entering a period of consolidation during which the principal focus will no longer be on making acquisitions and so the requirements for the executive director roles have changed.

“We are grateful to Phil and Peter for their hard work and leadership in building the group to its current strong state, and the new management team looks forward to developing it further.”

In October 2013, Perspective reported a pre-tax loss of £1.5m for the year ending 31 December 2012, despite significant increases in both revenue and earnings before interest, tax and amortisation.

At the time, Damian Keeling, managing director of Perspective, said that the company expects to increase its rate of acquisition over the coming year.

Mr Keeling said: “As part of our growth strategy we have been looking at various funding strategies in recent months including the option of stock market flotation.”

This follows July’s announcement that it will float on the London Stock Exchange’s Alternative Investment Market, with the aim of raising £28m of capital.

However, in August it announced it was postponing this due to timing issues as there is currently much activity on the LSE and investors are being asked to commit to a raft of funds.