Azets boosts debt advisory services with new hire

Accountancy and advisory firm Azets has appointed debt advisory specialist Michael Davies to support businesses in the North West.

Working out of Stockport, Davies has been brought in as assistant manager for the expanding service line, which is led by Mark Barrie. He was previously a business development manager with Reality Finance in Sheffield for more than 10 years.

Barrie, who works out of London and Hertford, said: “With 266,000 VAT and/or PAYE businesses alone in the North West, and there is clear demand from commerce for our debt advisory services in the North West, hence Michael’s appointment.

“His role includes assisting both existing and new Azets clients with advice and by arranging funding facilities including working capital, invoice finance/asset-based lending, property-related funding, asset finance and foreign exchange. Michael will specialise in supporting SME businesses and their owners with small business loans.”

Davies added: “Azets can leverage collective and individual experience, relationships with finance providers and scale to assist businesses in identifying, benchmarking and securing different funding options.”

Barrie was promoted to head of debt advisory over a year ago, in response to growing demand from businesses for specialist support in navigating complex funding challenges and tailored finance solutions.

A chartered banker, with nearly three decades of experience in the financial services sector, he assists business owners and managers with new funding lines, working with intermediaries and mainstream, specialist and independent lenders; he leads a national team of seven in the UK.

The firm said there are plans to recruit and further expand the debt advisory service line over the course of the next 12 months.

Barrie added: “With the cost-of-business crisis showing no respite following the increases in employer NICs and minimum wage, along with sticky inflation, there is a clear need for strategic guidance and support regarding corporate finance options, risk management, efficiencies and restructuring as companies navigate these difficult times, with our debt advisory service able to unlock new opportunities and build business value.”