City round-up: Dow Schofield Watts; Yourgene Health

From left: Nicole Burstow, James Dow, Hazel Lomas, Martin Ellison

Dow Schofield Watts has launched a new service providing due diligence and risk management services.

Based at the firm’s Daresbury headquarters, DSW ABL Risk Management will focus on providing asset-based lenders with specialist due diligence and risk management services across multi-asset classes to support their lending decisions and ongoing support and advice to advisors, investors and their portfolio companies.

The launch comes at a time when many asset-based lenders are looking to review their portfolios and reassess their level of risk on both existing and new clients due to the uncertainty caused by the pandemic and Brexit.

Two asset-based lending specialists have joined Dow Schofield Watts to launch the new service. Hazel Lomas and Martin Ellison have more than 60 years’ experience between them during which time they have worked with most of the major names in the industry.

Hazel Lomas, who worked for GE Capital and Lloyds TSB Commercial Finance amongst others before setting up her own consultancy in 2016, said: “Being part of the network will open up new growth opportunities for our business. We look forward to working with other specialist teams within Dow Schofield Watts to deliver our range of services across the asset-based lending marketplace.”

Martin, who trained as an accountant and has worked for HSBC Invoice Finance and Bibby Financial Services amongst others, has been an independent consultant for more than a decade. He said: “The time is right for us to take a step forward to build our business. In the wake of the pandemic many lenders are very aware of the need to review their existing portfolios and reassess their new business risks.”

DSW ABL Risk Management will be the 20th licensee for Dow Schofield Watts, whose model enables professionals to run their own business under its brand. In December 2021 DSW Capital – the company behind the Dow Schofield Watts brand – raised £5m in a successful IPO which will help accelerate the growth of the network.

Nicole Burstow, of Dow Schofield Watts, said: “Hazel and Martin are amongst the leading experts in their field. Their arrival is in line with our ambition to become the firm of choice for entrepreneurial professionals who want to run their own business, and further build our range of specialist services to become a natural alternative to the big four.”

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Yourgene labs

Yourgene Health, the AIM-listed biotech group, has appointed Mary Tavener as a non-executive director and chair of the audit committee, with effect from today (January 25).

She has extensive experience in the healthcare sector, having previously been chief financial officer and board member of AIM-listed Advanced Medical Solutions for 19 years during which the company saw 15 years of consecutive growth. Mary is a Member of the Chartered Institute of Management Accountants and a Fellow of the Association of Corporate Treasurers. She has a degree in Chemistry from the University of Oxford.

Mary is also a senior Independent non-executive director of Abingdon Health and for Allergy Therapeutics.

Separately, the Manchester-based group announces that Nick Mustoe has left the board with immediate effect.

Adam Reynolds, non-executive chairman, said: “Mary has extensive experience within the life sciences sector on AIM, which will be invaluable to the group as we grow and expand. I look forward to working alongside Mary as we continue to engage with our extensive pipeline of exciting opportunities.

“I would also like to thank Nick for his time and support of the group. Nick has worked with Yourgene since the company’s IPO in 2014 and we have greatly benefitted from his expertise and guidance.”

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