Mr Raggett, who has been Joint Insolvency Examination Board (JIEB) qualified since 2015, shall accept insolvency appointments with immediate effect and in this new role will lead the firm’s growing Restructuring & Recovery (R2) team across its Aberdeen and Edinburgh offices.

The firm’s R2 team is currently working on over 30 projects throughout Scotland which span their key services of restructuring, recovery, insolvency and the solvent winding up of limited companies.

Mr Raggett, who joined AAB from BDO in 2018, has a wealth of experience in the restructuring, recovery and insolvency arena having spent over 16 years managing a varied portfolio of both corporate and personal cases.

Douglas Martin, head of corporate finance at AAB, said: “We are delighted that Duncan has taken on this new role within our R2 team. His appointment demonstrates our commitment to providing a comprehensive and expert restructuring service across Scotland. Duncan’s knowledge and expertise will prove to be invaluable as the R2 team continues to expand in line with the firm’s wider growth aspirations.”

Duncan Raggett added: “I am looking forward to playing my part by leading our expanding R2 team and growing our presence in the Scottish restructuring market in my new role.

“With a focus on assisting struggling businesses to return to health and identifying critical issues to avoid business failure, but with the ability to use insolvency processes to deal with more critical problems, the R2 offering allows AAB to provide detailed professional advice to businesses at all stages of their business cycle.”