Trevor Parkinson

M: 07799 118666E:

Experienced Group Treasurer and finance professional with wide sector expertise includingtechnology, service industry in shipping and logistics, manufacturing, commodities, professional and financial services. Proven reputation for managing multiple internal and external advisors and stakeholders in complex situations and driving new financial arrangements for new and existing businesses. Strategic operator with hands on experience.

TRP Associates Ltd Director 2007 –date

Senior interim management, consulting, mentoring and business development. Treasury, processing and broader financial management skills. Proactive and honed project management and interpersonal skills. For sample projects see below and addendum.

Hovis Ltd/Premier Foods Interim Treasury Director

As part of a major re-organisation and refinancing Premier Foods was establishing a JV with Private Equity investor Gores Group to take the assets of the baking and milling operations that comprise Hovis Ltd with a day 1 turnover of £650m and 1,700 employees. Gores would have the controlling interest.

. Managed the separation of the Baking and Milling businesses from Premier Foods from a Treasury perspective including the ledgers and customer payment processes. Set up Hovis as an independent counterparty entity.

.Introduced cash forecasting and Asset Backed Lending (ABL) reporting.

.Arranged a crucial securitised ABL funding facility of £80m with advisors. Organised extensive due diligence, offers received in excess of amount budgeted and at lower rates.

.Managed and presented to 12 credit insurance agencies to establish limits for the new company for vital supplier support. Positive reception and capacity offered in excess of business requirements.

.Established new banking facilities and Fx/commodity trading lines from scratch.

.Identified resource and transferred knowledge to successfully complete assignment.

Kodak/KPP (Kodak UK Pension Plan)/Kodak Alaris Interim worldwide Group Treasurer

From a peak turnover in excess of $10bn 10 years ago, Kodak had a turnover of $3.5bn in 2012 and filed for Chap 11 protection from bankruptcy. The UK pension fund was one of the major creditors. A resolution was reached that KPP could maximize its returns by taking ownership of two main divisions of the parent company representing 40% of global assets, a turnover of $1.4bn, operatingin over 30 countries and selling into many more, employees 3,500. Main manufacturing sites in US and China. This involved the establishment of new legal entities worldwide,over 100 new bank accounts, novation of commercial arrangements, new bank credit lines and a new Treasury structure from scratch.

.Together with legal and corporate advisors negotiated guarantees, $100m new lines of credit,distributed working capital, established Transition Service Agreements (TSAs) and managed all Treasury related aspects pre-deal.

. Post-deal, established a new global Treasury operation, both operational and strategic. Including, but not limited to, foreign exchange, cash-flow, letters of credit, entity capital structure, support for commercial operations, bank systems, intercompany debt and treasury management, Board reporting and recruitment in UK, US, China and S America.

. Managed group liquidity on an interrelated basis worldwide to ensure successful ongoing operations and achieved surplus balances within a month and repaid working capital advances.

Aleris EuropeInterim Treasurer, Europe

Global leader in the rolled, extrusion production and re-cycling of aluminium products. Turnover around $6.8bn. European operations affected by Chapter 11 bankruptcy of US parent and departure of senior directors. A ‘parachute in, sort out and turnaround’ interim role. Immediate task to manage internal and external operations and relationships of Treasury Europe. Based in Germany, moved operations to Switzerland. Euro 450m ($630m) external funding for European operations. VC backed finance.

  • Managed a fast changing SOX environment
  • Drove essential cash and working capital reporting from the operations in Europe and developed 4-week and 13-week forecasting. Accuracy improved to within 5%.
  • Re-engineered flow of funds with financial controllers, commercial team, lawyers and banking group officers covering seven sites and 4,000 customers.Negotiator on implementation with US bank lead of creditor group.
  • Borrowing base monitoring of receivables used to determine availability of funding, improved quality and efficiency of collections and receipts to increase funding availability by $15m.
  • Re-organisation of European cash pooling. Use of db direct internet platform. Improved visibility, released $47.5m out of the cash cycle. Reviewed documentation and repaid borrowings saving $4.5m interest pa.
  • Reviewed foreign exchange and metal/raw material risk. Managed these within credit restrictions.
  • Managed, developed and recruited a central treasury team in Europe and proactively handled key stakeholder relationships in a pressured and fast moving environment.

Inchcape Shipping Services Ltd 2000 - 2007

World’s largest global ship services company with representation in over 50 countries. Large cash throughput, Electra private equity backed. Close integral working with group accounting, tax and business operations. Direct reporting and support to the Board. Source and manage external advisors. Key treasury service provision to key customers. Clients included major shipping companies such as Maersk, Exxon and UK MoD and US Navy fleets.

Group Treasurer

Start-up and ran a central Treasury operation as one of the main value drivers of the Group. Company sold to Dubai based venture capital owners.

  • Negotiated and monitored service level agreements with Treasury related counterparties; improved timeliness and accuracy of the payments processes and controlled foreign exchange margins.
  • Released $35m of liquidity within one year through global USD pooling. Reduced group-wide bank charges by 25% to under $1.0m
  • Handled Treasury issues related to S&P of company for $285m, with 500 lawyers worldwide for 12 bidders
  • Contract review and management of leveraged bank debt facilities of $160m, reducing charges by $800k over 4 yrs and increasing repayment flexibility to save $1.5m of interest pa
  • Standardised issue of Guarantees and L/Cs, reduced amounts outstanding by 10% in context of an expanding business and controlled issuance of new contingent liabilities
  • Established tax efficient intercompany financing/banking structure
  • Improved working capital management from client relationships. Introduced control reports and monitoring – funds outstanding reduced by $8.0m with one client
  • Conceived and implemented currency and interest rate risk management strategies. Reduced reported financial volatility, improved counterparty confidence and enhanced entity value
  • Provided Treasury Reviews and presented papers to main Board. Focussed Board level attention, and that of senior management, on key Treasury issues to initiate action and enhance effective controls

Johnson Mathey plc1989 – 1999

A global leader in advanced materials technology in precious metals and other specialised materials. Employees 9,700; EBIT £130.2m. Then a FTSE 250 company, now a FTSE 100.

Treasury Manager – Finance and Foreign Exchange

Managed the centralised treasury functions of foreign exchange (volume £3.0bn+ pa), money (central gross funding £265m) and precious metal funding for the Group worldwide. Reduced banking charges, improved control systems and minimised funding costs.

  • Reviewed currency exposures at Group, Division and Business Unit level. Achieved savings in FX of £1m-£5m pa
  • Introduced additional management reports to improve understanding and control
  • Maximised the use of cash balances worldwide. Liquidity improvements and cost savings in excess of £500k. Operated the International Treasurer treasury management system
  • Proposed additional financial instruments to aid financial market risk management and heighten commercial competitiveness. Improved interest rate risk management, savings of over £500k in one case, proposals to protect income reduction of £5m-£10m in another

First National Bank of Chicago AVP Marketing, Treasury and Trading Products 1984 – 1988 County Bank International Fund Manager- investment experience 1982 - 1984

Chemical Bank Foreign Exchange Advisory Service 1981 – 1982

Midland Bank Economics Department 1976 - 1981

QUALIFICATIONS and AFFILIATIONS

BA (Hons) in Economics, University of Kent at Canterbury

Member of the Association of Corporate Treasurers

Member of the Society of Business Economists

Member of the Institute for Turnaround, Turnaround Management Association and the Institute of Interim Management

Governor of Hampshire Hospitals NHS Foundation Trust

Former member of the Prince’s Trust Area Development Committee

Member of the UK National e-invoicing Forum, sponsored by the Dept for Business, Innovation & Skills and Crown Commercial Services, is the UK representation on European wide standards for inter-operability in invoicing and electronic payments.

ADDENDUM - Example projects:

TRP Associates Ltd Director 2007 –date

Simudyne Sarl Interim CFO and Treasurer

Young high growth international software based company involved in simulation modeling and financial stress testing. Strong blue chip client base and prospect pipeline. Project manage a number of key areas for founder CEO. Establishgood controls and reporting and manage stretched financials. Negotiate capital and funding for current trading and exponential growth.

  • Establish strong business and financial planning, manage bank and investor relations
  • Review documentation and regulatory compliance including tax implications

Obilisk Trade Finance (UK) Ltd Treasury Product Development

Start up technology platform developing new trade finance solution with direct access to the capital markets. Establish key relationships with main e-invoicing vendors and with the UK Government and Public Sector at central and local government level and with the NHS and EU.

  • Reporting directly to the CEO, preparation of cash flow forecasts, funding and development of corporate structure.
  • Stress testing the product principals and market the solution to corporate and public sector.
  • Close working relationship with e-invoicing community. Developed and delivered solutions.

Hampshire Hospitals Foundation Trust Governor

Recently merged Foundation trust cover population of 600,000 with a budget of £350m. Role of Governor to hold NEDs and Board to account and represent the public members. Connect with the Foundation Trust Network, comprehensive inception programme and involvement in corporate plans. Planning and funding of new Critical Treatment Hospital and Cancer Centre (£225m) and investment in new private client facilities (£10m).

Hampshire Arts and Crafts CIC Finance and Business Planning

A newly established Community Interest Company (CIC) engaged as advisor to help seek funding, establish systems and controls and provide focus and drive for a robust business plan. Ensure compliance with Ltd Co and CIC status. Set up costs £150k, est full year turnover £½m-£1m.

Synatus LtdPartner and member of The Executive Network

Part of a developed network of senior professionals across a number of complementary disciplines.

Summary - Additional roles ’07 – ’12

  • Confidential treasury and financial advice, consultation, presentations, training and technical writing assistance to a wide range of public, private and voluntary bodies:

An international relief and development charity Overseas educational travel company

Association of Corporate Treasurers Ashridge Business School

An international shipping company Banking, Insurance and a Treasury Consultancy

Sale of small businesses Supra-national and Quasi-government organisations

Trevor Parkinson

M: 07799 118666E:

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