Mr Dunn, who is based in Glasgow-based, joins as restructuring and recovery director, bringing over 20 years restructuring experience within three of the Big Four accounting firms.

With his appointment, the restructuring and recovery department now comprises 28 professionals across Scotland, England, Northern Ireland and Ireland, and Mr Dunn is the fourth director in the team, joining Judith Howson, David McGinness, and Duncan Raggett.

Ms Howson recently gained her insolvency practitioners licence with the Institute of Chartered Accountants of Scotland (ICAS) and has 28 years’ experience in insolvency. She is also a Chartered Certified Accountant.

The growth of the restructuring and recovery team within AAB’s corporate finance division follows a steep increase in demand for support from businesses facing financial challenges. Recent statistics published by R3 show that corporate insolvency numbers in Scotland for Q3 2023-2024 increased by 7.4% compared with Q3 2022-2023.

AAB’s head of corporate finance, Gordon Steele, said: “Although the growth of the Restructuring & Recovery team has been prompted by challenging circumstances faced by other businesses, it is important to highlight that we have some of the best insolvency practitioners here at AAB. They approach each case with empathy and meticulous care.

“Our latest appointment, Phil Dunn, is a very welcome addition to AAB as the business continues to grow. He possesses a wealth of expertise in finding solutions for distressed SMEs, sole traders, and private individuals.

“He will work alongside another five high quality partners and directors in the Restructuring & Recovery team based across all AAB locations.”

Mr Dunn commented: “At AAB, I have been welcomed into a highly capable team that respect and trust each other, and we exemplify this in our approach to clients.

“Personally, I find that one of the most satisfying elements of what we do is the positive aspects of a restructuring process such as safeguarding jobs and preserving businesses, and I will continue to advise clients on the best options available to them, as I have done throughout my career to date.”