Terry Noys


Commercial and strategic Finance professional. Background in corporate finance / M&A.        Strong staff manager.

Have managed multi-site, international businesses and had exposure to private, listed and NfP organisations.

Used to dealing with banks / investors / regulators. Energetic, pragmatic and goal orientated.

Work History

Work History

Semi senior - Audit

Nov 2006 - Mar 2008

Finance Director

Servite Houses

Finance Director for property development and management group.With a turnover of £105m and employing 1,300 staff, Servite owns / manages 18,000 properties nationwide.

Reporting to the Group Chief Executive, managed team of 80 staff covering finance, IT and facilities management.

Recruited to turn round an underperforming finance department and provide a more commercial perspective to business decision making – repeating my achievements at Hanover.

Achievements included:

·Complete overhaul of the Finance function, making it far more professional, pro-active and business orientated – as evidenced by:

ØImproving the operating effectiveness of an existing PFI contract

ØSignificantly improved the quality and timeliness of budget and management accounts information and supporting processes

·Successfully managing financial and IT due diligence (and subsequent integration) on acquisition

·Implemented a substantially revised treasury and interest rate strategy to manage a £300m loan book and drive down interest costs (by more than £250k pa)

·Resolved substantial issues resulting from the poor implementation of a new housing management system and ensuring a second major new IT system implementation was managed on a more professional basis

·Revised development appraisal assumptions making these more challenging and generating greater returns

·Took a leading role in a major strategic review of the organisation which resulted in decision to substantially re-shape the business.

Apr 2004 - Oct 2006

Group Finance Director

Hanover Housing Group

Group Finance Director for this leading property group, specialising in providing accommodation for older people.

Reporting to the Group Chief Executive, responsible for a finance function with 60 staff.In June 2006 was also given responsibility for managing the IT department.

My achievements included:

·Leading a fundamental review of the organisation’s business strategy and long term financial plans which had (to quote the Housing Corporation) “a major impact on Hanover’s financial profile” and resulted in an upgrade by the regulator of Hanover’s financial viability rating.Other results of the review included:

ØDriving improved operational and financial performance so that profit increased from £7m in 2004 to £12m in 2007, on turnover of £71m, up from £55m

ØDecision to enter into new market areas, notably development of ‘commercial’ properties for sale - utilising own balance sheet - and joining a PFI consortium

ØDifficult (for housing management staff) decisions to increase rents and reduce future capital expenditure on housing stock and prohibit take-on of unprofitable (charitable) business in the future.

·Bringing a more commercial approach to the organisation requiring it to re-evaluate many of its traditional methods of operation.Examples include:

ØLeading a review of Hanover’s procurement methods and developing a Group-wide procurement strategy (including establishment of an in-house procurement function) aimed at achieving savings of in excess of £1m.

ØIntroducing ‘hurdle rates’ for new development opportunities, so establishing the need to recognise project / portfolio risk and the need to make a more appropriate return on investment opportunities

ØIntroducing use of performance related bonuses for (relevant) senior staff

·Completely overhauled the finance function, (people, structures, processes, controls), in line with the blue print I proposed to the Board, resulting in:

ØRemoval by the regulator of the amber ‘traffic light’ rating for financial management previously placed on the business, with clean audit management letters for each year end I was responsible (as against the qualification for the year end prior to my joining)

·Raising more than £60m of new debt facilities to finance business growth and re-negotiating bank covenants on existing debt to make these consistent and more favourable to Hanover.

Apr 2001 - May 2003

Group Finance Director

Media Audits Group Limited

Group Finance Director of this media consultancy group, with operations in 9 European countries, sales of £10m and employing 140 staff.

Reporting to the Group Chief Executive, responsible for 20 staff covering finance, IT, HR, legal and company secretarial matters.

·Member of new team responsible for growing business by more than 20% whilst undergoing substantial change.

·Established strong relationships with company’s VC backers and lending bank, successfully leading two funding rounds. Prepared business plans and negotiated new equity and re-structured debt repayments equal to 25% of original funding.

·Improved cash generation through introduction of ‘contract to cash’ process, pro-actively managing working capital from quotation stage through entire sales process to collection.Also negotiated revised payments terms with variety of major creditors, deferring more than £1m of payments due.

·Led fundamental review of Group’s tax position.Devised and instituted transfer-pricing policies and documentation, ensuring Group’s effective tax rate reduced, enabling utilisation of tax losses and obtaining repayment of previously paid tax.

·Led strategic review of in-house IT function.Recommendations for future developments accepted by Board.

·Revamped finance function.Finance personnel changed and upgraded; speed and integrity of reporting improved; management reporting (management accounts, budgets, cash flow etc.) overhauled, ensuring more meaningful and faster information flows; and a range of business-critical reports (KPIs, new business generation, trend analysis, cash flow management, client profitability) introduced.

Dec 2000 - Jan 2001

Interim Strategic Planning Manager

Axa Insurance
Aug 1999 - Dec 1999

Group Finance Director

Channel Holdings PLC

Group Finance Director of this fully listed group of 3 UK-based businesses involved in defence/MoD contracting, manufacture of security electronic products and distribution of car parts to retailers.

Reporting to Group Chief Executive, responsible for finance.Active in presenting to institutional shareholders and stockbroker analysts and liaison with Stock Exchange.

Through re-negotiation of major supplier and customer contracts; regular liaison with the Group’s bankers; and reorganisation of two factories (involving substantial redundancy programme and negotiation of sale of a business), successfully managed business through severe cash crisis.This enabled it to be sold as a going concern, so securing employee’s jobs, ensuring the bank was repaid and provided some return to shareholders.

Company was taken over – hence only with business for 5 months.

Sep 1998 - May 1999

Director Of Financial PLanning

Chloride Group PLC

Involved in new business initiatives, notably acquisitions.

·Led financial and commercial due diligence on acquisition of pan-European power protection business (sales of £30m).Co-ordinatedand plannedworkof internal team and external advisers and prepared reports for submission to main board.As a result of concerns raised by this work, acquisition was only completed after target restructured as requested.

·Detailed integration planning of three UK businesses.Working with Divisional MD and Operational Director put together detailed plans covering, inter alia, new management structure; redundancy planning; product rationalisation; and sales force integration.Plan to integrate 2 of the 3 businesses successfully adopted.

Jun 1996 - Aug 1998

Finance Director - Power Protection

Chloride Group PLC

Representing more than half of Chloride’s business activities (sales and profits), this £65m Division consisted of 9 businesses in 8 countries (covering Europe, USA and Far East) and manufactured (in 4 locations), distributed and serviced UPS (electronic devices used to protect IT, telecoms and other application-critical electronic equipment).

Reporting to the Managing Director, responsible for setting/achieving the Division’s budget; monitoring business performance; ensuring good internal controls; and supporting the Managing Director and operational managers in strategic and new business initiatives.

·Significantly improved cash generation though improved working capital management.Introduced new control and reporting mechanisms including business-wide solutions to debtor and warranty issues.Improved stock and debtor turns by 15%, with every £1 of profit turned into £1 of cash (not previously the case).

·Helped introduce central purchasing for key components (batteries, pcbs etc.) reducing cost of core materials by over 15%.Role included gathering together base information, calculation of potential benefits, negotiation and subsequent monitoring of contracts.

·Part of team responsible for introducing customer focused methodology (including customer profitability) with aim of making business more customer-focused.As a result, retention of key customers improved and Division became core supplier to customers where previously relationship had been transaction-based.Consequently, level of sales with these customers increased substantially.

·Restructured and re-modelled business model of Spanish operation, resulting in increased sales levels (+30%) and improved margins (+20%) and closed German business (with no loss of clients) turning a loss making business stream into profit.

·Reviewed performance of third party distributors, as a result of which a large number of distributor partners were changed.Wrote new distribution agreement, which included agreed performance measurements (and subsequently monitored same).

·During my tenure, both budgets for which I was responsible were attained, during which time sales rose by 22% and there was a substantial increase in the Division’s profitability (PBT +30% to £6.5m), whilst stock and debtor turns improved by 15%.

Mar 1993 - May 1996

Business Development Manager

Chloride Group PLC

Reporting to the Group Chief Executive and working closely with operational managers, responsible for acquisitions, disposals, strategy and investor relations.

·Developed Group Strategic Plan, including targets for earnings growth, dividend policy, returns on sales and capital employed.All recommendations fully implemented with result that Group’s market capitalisation increased from £20m to more than £200m.

·Completed three (and rejected many other) acquisitions, undertaking initial research and evaluation; negotiation of key terms; financial and commercial due diligence; and developing and implementing post integration plans.

·Advised Board on a number of potential merger and joint venture proposals.

·Led process of selling more than ten businesses, including valuation, preparation of selling memoranda, appointment of intermediaries and negotiation of contracts.

·Developed and made presentations to institutional investors and stockbroker analysts.

Jul 1988 - Dec 1992

Senior Manager, Corporate Finance

Barclays de Zoete Wedd Ltd

Advising listed groups on business strategy, mergers, acquisitions and fund raising.

Jul 1987 - Jun 1988

Executive, Corporate Finance

Henry Ansbacher & Co. Ltd
Jul 1985 - Jun 1987

Senior, Corporate Finance

Coopers & Lybrand


Sep 1979 - Jul 1982

2/1 BA honours degree

University of East Anglia