As president, Mr Cooper will work with R3’s CEO, senior management team and council to help shape and deliver R3’s strategy for the next 12 months and supporting its day-to-day operations.

He has set five specific aims for his term of office:

1. Highlight the profession’s socio-economic contributions through high-quality thought leadership, emphasising the value of saving jobs, rescuing businesses, and facilitating growth.
2. Advocate for the profession as an inclusive and rewarding career choice, providing clear pathways for qualification and progression.
3. Strive to improve the regulatory framework, reducing the burden on practitioners and firms, and fostering positive relationships with regulators and government agencies.
4. Uphold the UK’s position as a global centre of excellence for restructuring and insolvency, leveraging R3’s links with INSOL International.
5. Lead discussions on the route to qualification for insolvency practitioners, ensuring it remains relevant and meets the profession’s current and future needs.

Mr Cooper said: “With an expected change of government this year and insolvency numbers at an all-time high, this will be a challenging year for the profession and for R3 as we continue to support the restructuring and insolvency profession.

“The economic and business climate make the role of restructuring and insolvency professionals as crucial as it has ever been.

“I’m determined to ensure that by the time I leave office the work of the profession is widely understood and valued, and the opportunities provided by a career in the profession are well-known and in demand by the people who will lead it in future.

“These are ambitious objectives for a year-long Presidency, but I’m determined to achieve them.”

Caroline Sumner, CEO of R3, said: “Tim has been a key figure at R3 for many years now, serving as chair of R3 in Scotland, chair of our regional communications committee, and a council member before he joined the presidential team in 2022.

“His extensive experience of R3 and the profession will be a real asset during his presidential term, and I’m looking forward to working with him to further promote R3, ensure the profession’s voice continues to be heard in an uncertain political climate, and help better understanding of the value of the profession and its work amongst parliamentarians, the public, and potential entrants.”