R3 appoints new President

Insolvency and restructuring trade body.R3 has announced that Stuart Frith, a Partner at Stephenson Harwood LL will be its new President. With over 30 years’ experience in the insolvency and restructuring profession, Frith has expertise covering both corporate and personal insolvency work. A partner in Stephenson Harwood since 2009, he is also a Deputy Judge dealing with cases in the Insolvency and Companies List in the Business and Property Courts of the Chancery Division, a position he has held since 2007.

As an R3 member,Frith has been closely involved with R3’s policy and technical committees, as well as previously acting as chair of the personal insolvency committee. He sits on R3’s Council and, over the last year, served as R3’s vice-president.

Commenting on his appointment,Frith says: “The UK has a world-class insolvency and restructuring framework, and I’m very honoured to have the opportunity to represent my fellow professionals who work within it. I’m determined to make our profession’s voice heard on pressing issues like Brexit and the need to continue to improve our restructuring landscape both here and abroad. As a solicitor, one of my priorities will be to shine a spotlight on the important relationship between the judicial system and the insolvency and restructuring framework.”

“The success of the UK’s insolvency and restructuring framework is closely tied to the efficiency and effectiveness of the UK’s court system. This extends from access to justice issues for creditors and debtors alike, to the courts’ ability to process cases effectively and efficiently for all its users. With increasing demands to the system in recent years, it is essential that R3 works closely with the courts to address any unexpected member concerns, and to offer our recommendations on how things might be improved, where necessary.”

In common with all of the professions, there is much work to do to promote diversity in all its forms. This will also form an integral part ofFrith’s aims for his year in office Firth explains, “As president, I want to ensure members feel that R3 represents them, whatever their background; and that the insolvency and restructuring profession itself is diverse.

“We want to make sure our profession draws from a wide range of different backgrounds and that everyone has a chance to succeed. This is particularly true for more junior members of the profession. I want them to get involved and contribute towards R3’s work as much as possible.”

Frith begins his term as R3 president as the organisation works on a strategic review. The review will form part of a continuous process of engagement with R3’s members and the wider profession, which will set R3’s direction for years to come.

Frith says: “R3 plays a vital role in promoting, developing, and supporting the insolvency and restructuring profession. We punch above our weight as an organisation. But as the insolvency and restructuring world constantly changes, R3 must change with it. Our review will make sure that both R3 and the work that it does remain relevant to all of our members, now and in the future, whichever part of the profession they are in, and at whatever stage they have reached in their career. I want to make sure that not only do members have a chance to engage in the review, but that members feel that they are part of the strategic review in a tangible way such that will define the aims and ambitions for the organisation over many years to come.”

“The main objective will be to move R3 forward in such a way that it benefits our members in the important work they do for the clients they represent and advise in the challenging times that undoubtedly lie ahead.”

Firth will be taking over as president from Adrian Hyde, a partner at CVR Global. Duncan Swift, a partner at Moore Stephens, is R3’s new vice-president and will become president in April 2019.

In other changes at R3, Emma Lovell has been confirmed as R3’s new chief executive. Emma has been at R3 in various roles since 2010 and replaces Graham Rumney, who retired as chief executive in March 2017. Emma had been interim Chief Operating Officer since Graham’s retirement.