Raymond Smart

Largest integrated communications agency specialising in the Luxury Travel and Real Estate sector, including digital media, production and recruitment. Group companies include Profile Management and Specialist Recruitment; JohnHenry (Digital Media Agency) with offices across 4 countries in Europe, Russia, Hong Kong and Dubai.

Turnover: £12m+
Employees: 85

Achievements:
• Identified and improved control weakness in the business processes adding 3% to PBT
• Overhaul of budgeting and forecasting processes


Reporting to the CEO/Chairman, responsibilities included:
• Member of Exco and Board
• Lead, manage and develop the full Finance Function across Group (15 entities)
• Annual budgets and rolling forecasts
• Business partner to operational heads (GM’s) and integration of agencies
• Strategic and operational decision support
• Ownership and development of key external relationships, banking/legal etc

Largest and most rapidly growing advertising and marketing agency in Africa. Diverse group offering a range of services from the only Facebook Marketing Partner in Africa to activating brands in informal settlements; field marketing; producing reality TV shows; Eventing and everything in between.

Turnover: R750m+
Employees: 1350 full-time and up to 8000 part-time (weekend)

Achievements:
• Steered business through largest Advertising Deal in Africa with international Media Company (Initially R1.1b - $95m).
• Re-built Finance Team of 21 (only 4 of original team still fulfilling same function)
• Developed and implemented integrated customised operational system (TAMS / BUDGETAPP)
• Implemented new cash flow modelling and forecasting, resulted in reduced DSO from 145days to 80days and significant increase in shareholder return
• Set-up business in Ethiopia, Nigeria and Mozambique


Reporting to the CEO, responsibilities included:
• Member of Manco, Exco and Board
• Lead, manage and develop the full Finance Function
• Development of financial and business strategies, policies, plans, systems and procedures in order to ensure sound internal controls that support and improve business objectives
• Annual budgets and rolling forecasts
• Business partner to operational heads and cross-pollination of group assets
• Strategic and operational decision support
• Negotiation and management of key supplier contracts

Consultancy offering diversified financial and taxation consulting services to the SMME segment in South Africa.

Achievements:
• MBO in Telecom industry
• Re-financing in Distribution industry
• Advisory services for acquisition in the Security industry
• Various tax and business structuring assignments
• Strategic planning and change management assignments

Servest is an outsourced provider of multi-service Facilities Management solutions to the public and private sectors with a turnover in excess of R5b.

I managed the Parking, Security and Technology divisions, operating across South Africa and in Nigeria, Zambia and Zimbabwe.

Turnover: R600m
Employees: 6500

Achievements:
• Developed first to market revenue model that delivered, on average, 30% reduction in cost to client and a 60% increase in site profitability.
• Designed and implemented a USP with regard to Bid/Tender contract resulting in an increase of 15% in BU sales in that segment and allowed for additional 5-10% growth in all other sectors.
• Maximised efficiencies of tax and cross-border transactions, incl. Transfer Pricing and African tax law
• Implemented system to consolidate the compliance and financial operational systems and structures across 14 entities through-out South Africa, Nigeria, Zimbabwe and Zambia.
• Design and implementation of bespoke MI system, providing key business managers with timely on-line access to key performance metrics, including drill-down and analysis tools
• Acquisition support, incl. valuation, due diligence and financial integration in respect of two significant acquisition targets and further two completed transactions
• Drove group wide review of accounting policies and practises which delivered 5% to group EBITDA
• Managed B-BBEE from level 5 to level 2

Reporting to the Managing Director, responsibilities included:
• Member of Board of Directors, including African entities
• Management of full Finance Function (31 staff), incl. Consolidation, Financial Analysis & Planning
• Management IT, HR and legal departments (9 staff)
• Daily management of cash and working capital, incl DSO
• Monthly financial & management reporting of consolidated mini-Group financial results to EXCO
• Contract negotiation with various suppliers and customers
• Development of 5 year strategic plan, including organic and acquisitive growth strategies
• Statutory accounts and corporation tax compliance across all jurisdictions
• Liaison with professional advisors (audit, tax, legal and bank)

Kreos Capital Management (UK) Limited is the management company for the Kreos Capital Funds. Kreos Capital is a Venture Debt fund with two funds under management and funds invested of over $1b.

Achievements:
• Implemented and delivered financial reporting in IFRS, UK GAAP and US GAAP
• Modelling of track record performance and future fund out-turn to start fundraising for next fund
• Driving changes in valuation methodology to comply with EVCA and Black Scholes guidelines and increased fund value and projected IRR
• Design and implementation of automated weekly, monthly, and quarterly reporting, including large focus on detailed investor reporting

Reporting to the COO, responsibilities included:
• Management of Finance Function of 12 operating entities across UK, Jersey, Luxembourg, Cayman, BVI, Mauritius and Israel
• Treasury management across USD, Euro and Pound with daily cash flows of up to €20m, including forex exposure and forex risk management
• Management of external fund administrators
• Management of NAV process and methodologies
• Statutory accounts and corporation tax compliance across all jurisdictions
• Liaison with professional advisors (audit, tax, legal and bank)
• Ad hoc projects as directed

Court Cavendish is a boutique PE House established and run by a family office. They acquired Smash Foods, a restaurant chain offering a variety of traditional British cuisine, notably Sausages and Mash. They owned the brand S&M Café.

Achievements:
• Brought finance function in house and established and developed a finance team
• Established a framework of financial controls, processes, procedures and policies across both operations and finance
• Implemented MIS platform and integrated front and back of house software maximising technological efficiencies and shortening reporting times
• Drove variable cost analysis that resulted in a decrease in food cost of 12%
• Due-diligence in respect of new site openings and the successful opening of 3 sites to budget

Reporting to the Managing Director/CFO, responsibilities included:
• 360 degree management of Finance Function of 6 restaurants and 1 concession
• Working capital management, including cash flow management during growth phase
• Contract negotiation with various suppliers and customers
• Cost management s
• Statutory accounts and corporation tax compliance
• Liaison with professional advisors (audit, tax, legal and bank)

Set up and managed the Family Office of two High Net Worth Individuals with a combined net worth of over $800m.

Achievements:
• Maximised international tax structuring to deliver an effective tax rate of 8%, down from 19%.
• Drove multi-currency product development which increased cash yield by 6%
• Acquisition support, incl. Due-diligence, negotiations and transaction financing structures for 3 acquired investment businesses
• Analysis of multiple tax savings target investments
• Set-up of family office as a business, including financial controls and processes


Reporting to the Partners/CIO, responsibilities included:
• Management of the day to day financial requirement of the Hedge Fund owners
• Management and maintenance of complex tax structure across BVI, Cayman and Jersey.
• Management and execution of investment portfolio which included, listed equities; exposure to currency markets; private company investments and trust activity
• Statutory accounts and corporation tax compliance, where necessary
• Liaison with professional advisors (audit, tax, trustees, legal and bank)

A boutique Bistro style café with ceramic pottery painting activity.

Primary function was to set up business for franchising the concept across the GCC region.

Achievements:
• Streamlined and standardised financial and operational processes
• Implemented new integrated end-to-end system covering Front of House (POS), Back of house (FBM) and accounting software
• Implemented logistics process with regard to supply and delivery of key items, incl. ceramic’s, which reduced net cost of items due to prior mismanagement of these items.
• Rolled out a “franchise-able” platform within 9 months.
• Shortened month-end reporting from over 90 days to under 5.
• Due-diligence and fund raising for opening of 2 new restaurants to budget
• Implemented logistics process with regard to
• Developed and mentored inexperienced finance team


Reporting to the CEO, responsibilities included:
• Management of the full finance and admin functions of local and BVI based holding companies
• Monthly financial & management reporting and presentation, incl. variance analysis and commentary
• Management of cash and working capital
• Key supplier contract negotiations, incl lease negotiation with Landlords
• Budget and forecast preparation and presentation to Board
• Statutory accounts and corporation tax compliance, where necessary
• Liaison with professional advisors (audit, legal and bank)

Sold Financial Products to SMME sector.

Further detail available on request

Completed training for Chartered Accountant (South Africa) designation.

Further detail available if required