R3 appoints new President

Tom Russell, Licensed Insolvency Practitioner and Director at James Cowper Kreston, has been appointed President of R3, the insolvency and restructuring trade body.

As President, Russell will work with R3’s CEO, senior management team and Council to help shape and deliver R3’s strategy for the next 12 months and support its day-to-day operations.

He takes the Presidency after 21-year career in insolvency and restructuring which has seen him work with businesses of all sizes in the UK and internationally, as well as working with indebted and insolvent individuals.

Russell said “This is set to be another critical year for the insolvency and restructuring profession. Businesses are facing rising costs, the impact of the tariff changes and the increases to National Minimum Wage and National Insurance, and consumers are facing increases in bills amidst the ongoing cost of living issues.

“At the same time, the Government is planning the next stages of its plans to review insolvency regulation and the wider personal insolvency framework, so the profession is facing potential uncertainty and upheaval at a time when its skills are in high demand.

“I am determined to ensure that R3 continues to give the profession a voice on these issues and any others which could impact it and the valuable work that the profession does supporting the UK economy.”

Caroline Sumner, Chief Executive Officer of R3, said “Tom’s significant experience as an insolvency practitioner and his long involvement with R3 will be an asset during his year in office. He has clear ideas for how we can continue to evolve so members get the maximum benefit from being part of R3.”