DSW rocked as anointed successor resigns
Listed advisory business DSW Capital has been rocked by the surprise resignation of Nicole Burstow, deputy chief executive and chief financial officer.
She will continue in her role until the end of June 2024, before taking up a new position at a large portfolio investment business.
On her appointment as deputy CEO to founder James Dow, she was touted as the successor and very much the future of the business known as a challenger professional services licenced network and owner of the Dow Schofield Watts brand.
DSW is commencing a recruitment process and will update the market in due course.
She has been with DSW for four years, and the company said in a statement to the stock market this morning she “has been instrumental to the growth of DSW”.
James Dow, Chief Executive Officer, said: “Nicole has been a superb asset to our business and an inspirational role model for many of our Partners and employees and we wish her every success in her new role.”
As recently as October founder Dow said: “It gives me great pleasure to announce Nicole’s official appointment as Deputy CEO. We are extremely fortunate to have such a capable and committed executive, she is well respected by all our stakeholders, and this appointment reflects that her contribution to the Group has extended far beyond her role as CFO for quite some time.”
A former KPMG corporate finance partner when he set the business up in 2002, Dow floated the business and operates licensing arrangements with 25 licensee businesses with 106 fee earners, from 11 offices across the UK. These trade primarily under the Dow Schofield Watts brand.
The “challenger model” attracts experienced, senior professionals, predominantly with a “Big 4” accounting firm background, who want to “break out” and launch their own businesses under the Dow Schofield Watts brand and DSW Network.
The network has offices in Aberdeen, Cardiff, the North West of England, Leeds, London, Nottingham and Reading spanning corporate finance, transaction services, business recovery, management and strategy, tax advisory, forensic services, debt advisory and wealth management.
The business also operates Pandea Global M&A, an international network of corporate finance firms covering 33 different countries, and two investment businesses, DSW Ventures and private equity investor PHD Industrial Holdings.
