Colin Haig becomes President of insolvency and restructuring trade body R3

Colin Haig, Restructuring Partner at BDO, has been appointed President of R3, the insolvency and restructuring trade body.

Colin takes over from Duncan Swift, Corporate Advisory Services Partner at Moore UK, who has just completed his year-long term as R3’s President. Colin, who has over 40 years’ experience as an insolvency practitioner, will work with R3’s senior staff to guide the trade body, its members, and policy makers through the challenges presented by COVID-19.

Colin Haig intends to focus his presidential year on supporting the profession’s efforts to help businesses and the economy return to normality after the COVID-19 pandemic, promoting the value of the insolvency and restructuring framework and profession to the media, politicians, and the wider public, and ensuring that R3 is truly representative of the wider profession, with a focus on the next generation of professionals.

Colin Haig said: “The profession, the people and businesses it supports, and the UK economy have had to deal with the immense economic shock of COVID-19, as well as question marks around the future of the UK’s relationship with the EU and the political and economic uncertainty this has created.

“As businesses look to rebuild and individuals look for help with their finances, our profession will be there to help them and help revitalise the economy. I am proud of the work the profession does to help those in financial distress, and know that the profession’s deep reserves of resilience, expertise, and resourcefulness will be key to getting many companies’ and individuals’ finances back on track.

“R3, as the home of the insolvency and restructuring profession, provides representation and insight into the major issues affecting it at a time when the economy, and the businesses and people that drive it, need its support more than ever.”

Liz Bingham, R3’s CEO, said: “We’re delighted to welcome Colin as our 2020-21 President. His extensive experience within insolvency and restructuring, working with businesses of all sizes and sectors, will be invaluable in helping us ensure our work continues to support the profession, and that the insolvency and restructuring framework in the UK remains first-class.”

Colin’s priorities as President of R3

Colin Haig, as a seasoned insolvency and restructuring expert, is well aware of the challenges that businesses will face when coping with the huge impact of the COVID-19 pandemic, and accompanying economic shutdown. His year as R3 President is likely to be taken up with responding to the crisis, and promoting the value of the profession, which will be called upon to provide advice and professional services to people and companies in distress.

Colin Haig said: “The COVID-19 pandemic has presented scenarios that no one could have predicted just a few short months ago. However, one thing I am sure of is the ability of the insolvency and restructuring profession to respond to changing circumstances, and take decisive action in highly pressured situations – skills which will be invaluable in the near future, and which are already being put to use right now.”

Colin is also an advocate for new professionals within R3, and for putting R3 at the heart of the insolvency and restructuring profession. He will continue to implement R3’s Strategic Plan, launched last year, which provides the trade body with a three-year plan for the future. As part of this, R3 has recently launched corporate membership, to encourage practices to sign up more of their staff, and give more newly-qualified insolvency and restructuring professionals the opportunity to get involved with their trade body.

Colin Haig added: “R3 membership has been a benefit to me throughout my career. As R3 marks its 30th birthday, I am very keen to see younger professionals, and those new to the profession, taking advantage of all that R3 has to offer through new channels to membership. From training to technical information, representation in Parliament and in the press, and – once normal life resumes – unrivalled networking opportunities, involvement with R3 can and should be enjoyed by as many within the profession as possible.”

New R3 Vice-President and Deputy Vice-President take office

At the same time that Colin Haig becomes R3 President, Moon Beever Partner and current R3 Deputy Vice-President Christina Fitzgerald becomes R3’s new Vice-President, with Nicky Fisher of Herron Fisher taking over as Deputy Vice-President.