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New Year Message from Paul Davies TMA UK President

Welcome to 2022 

Well as I write this, the government seem to remain undecided on whether we are heading back into more restrictions and the country continues to lurch from one pandemic related challenge to another. What does this mean for the Turnaround sector? Well last year I said that I thought it was going to be a busy one for all of us and I am not sure that was the case for most people. I want to say the same again now we have seen the end to furlough, government loans being repaid, HMRC debts being paid, albeit on some favourable Time to Pay arrangements, interest rates rising and winding-up petitions back in use. However, this is still on a backdrop of HMRC being supportive and the Banks being particularly passive where covenants are being breached. Therefore, I should avoid making any predictions!

Looking back, my first year as President of the TMA UK and as a partner at James Cowper Kreston have flown by. The first 9 months of my presidency were conducted online and online has been a successful tool for the TMA since the March 2020 lockdown with 56 events being held attracting circa 8,500 attendees. This has given us a reach to all areas of the UK which is much more difficult to do with face- to- face events. We also started some new online initiatives which included welcome Zoom calls with new members and networking events with TMA Chapters in Toronto, Chicago, New York and France. Don’t forget, the TMA is a global association with over 10,000 members!

Whilst it has been a great opportunity to provide online webinars and networking, it was also fantastic to be able to organise some in-person events. Congratulations to our Leeds NextGen committee who were the first to organise something in-person in the summer where they held a very successful outdoor BBQ. In London we began with a small event to thank our sponsors and members for their support in September.

However, it was most pleasing to be able to hold our flagship annual conference in November to a packed auditorium. We had some excellent speakers ranging from a former Lord Mayor of London to an inspiring female rugby coach to a former winner of the Apprentice. A huge thank you to all our speakers, to Peter Brewer for chairing the conference committee, to Nyree and Kelly for ensuring that it can go ahead and run so smoothly and to the rest of the conference committee for their input.  It was also great to host the hierarchy of TMA Global at the conference as well, all of whom made the effort to come over to the UK from all over the US so a huge thank you to Derek Meek, Matthew English, Janey Mitnick and Scott Stuart and congratulations to Janey on her appointment as the new TMA Global President.

We also held our Christmas lunch, and it was nice to be back at the Montague on the Gardens for the excellent lunch and great service that we have become accustomed too.

Membership numbers continue to increase, and sponsors have continued to support us for which we are very grateful. A huge thank you to John Pye & Sons Ltd, our Corporate Partner, for their continued sponsorship and support. A huge thank you to all our other sponsors over the last 12 months, both TMA sponsors and the conference sponsors, we appreciate the support in what is a difficult time for all networking associations.

TMA UK is celebrating 21 years this year and to celebrate our “coming of age” we will be holding a black-tie event to celebrate this in September 2022, more of which to follow in the New Year. Unfortunately, our annual review on 11 January has had to be moved online due to the impending COVID restrictions but I would recommend joining to listen to the star-studded panel review the year and hopefully make some great predictions for 2022.
Finally, I would like to most of all thank our general manager Nyree Magill,without whom most of the good things TMA do would not happen. Also, thanks to her able assistant, Kelly Darlaston, to the TMA Board of Directors, the regional TMA Boards, the NextGen committees and the NOW committee. 

I wish you all a prosperous 2022 and hope to see you all at TMA events soon.

Paul Davies
TMA UK President
& Partner at James Cowper Kreston


More about TMA UK

The TMA is a truly global, member-centric organisation with almost 10,000 members worldwide in 20 countries.  We are proud to welcome members from all parts of the turnaround market, including accountants, hedge funds, private equity houses, lawyers, corporate finance specialists, valuers and banks and even unions and members of Her Majesty’s government. TMA UK is honoured to be sponsored by over 30 turnaround organisations and thanks go to our UK sponsors.

We offer our members over 30 events annually across the UK. The sharing of insights and the important learning that takes place at such events form a vital part of the TMA project.


EACTP is an established, independent organisation within European turnaround and recovery. It's certification process has been recognized by the European States and the European Commission as an independent, high class player providing thorough expertise serving the turnaround community. Find out more here

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