Deloitte boosts Scots restructuring team with new senior appointment

Deloitte has bolstered its restructuring services offering in Scotland with the addition of Michael Magnay as a director to its team north of the border.

Joining from Deloitte’s Manchester office, Mr Magnay has spent a total of 15 years with the firm in the North West and North East of England. He has 12 years’ experience in business turnaround, insolvency and corporate restructuring, including a 13-month secondment with a major clearing bank.

He has worked with a wide variety of stakeholders and corporates in developing strategies for dealing with distressed businesses in a number of sectors, including manufacturing, real estate, retail and oil and gas.

John Reid, partner and head of restructuring services at Deloitte in Scotland, said: “These are challenging times for many businesses, particularly in the oil and gas industry and those connected with the sector. Global economic trends suggest these issues are likely to continue as the year progresses and emerging markets remain volatile.

“With the demand for skills, knowledge and innovation in restructuring services seldom higher, Michael brings with him a range of valuable experience that will add to the strength and depth of our current offering. We’re well placed to help Scottish businesses protect themselves against the tailwinds reverberating across the world economy, and exploit the inevitable opportunities these testing times present.”

Mr Magnay added: “It’s a fantastic opportunity to be joining such a strong team in Scotland. Deloitte works with a range of businesses, from SMEs to PLCs, across a variety of sectors, all presenting very different opportunities and challenges. I look forward to working with as many of them as possible and helping them to deliver on their strategic objectives.”