Companies  

Perspective devolves decision making with board launch

Perspective has created a new advisory board made up of members of the wider national group to take the pressure off the main Perspective board in creating and implementing group strategy.

In an email update sent to members, seen by FTAdviser, Perspective says the formation of the Perspective Advisory Board is in line with the group’s commitment to seek “input from colleagues of Perspective offices”.

The Perspective Advisory Board is made up of principals from across the group as well as directors. It will will meet regularly and would like to hear from others at Perspective offices, the email said.

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Perspective told FTAdviser it expects to be finalising all of the members of the board in the “next couple of weeks”. A spokesperson declined to name those already on the board.

Perspective said this latest announcement follows recent management team developments.

Earlier this month, the group announced that Phil Carr, Perspective’s finance director, and Peter Craddock, its group operations director, had stepped down from their roles in a shake-up of the senior team.

Mr Craddock remains in a consultancy role to ease the transition period to a new management team. It was also announced on the same day of his departure that he has been appointed to the Financial Conduct Authority’s Regulatory Decisions Committee.

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.

The announcement followed July’s failed attempt to float on the London Stock Exchange’s Alternative Investment Market, with the aim of raising £28m of capital. In August the firm announced it was postponing the listing citing timing issues.

A statement from Perspective Financial Group at the time said: “Despite strong interest from investors, Perspective Financial Group has decided to postpone its initial public offering.

“The company continues to deliver strong profitable growth and remains confident in its proven strategy, and will seek to revisit the IPO at a more appropriate time.”