The Interview – Christian Mayo
CHRISTIAN Mayo is head of corporate finance at KPMG in Leeds. In the latest Interview series for the Deals/Restructuring channel we find out why James Bond inspired him to learn Russian.
What aspects of your job/profession do you enjoy the most?
The privilege of helping people to achieve something that’s really important to them. Most people will only do one or two deals in their lifetime and their success is vitally important. It’s rewarding being involved in transactions that often recognise many years of entrepreneurial flair and hard work.
What key challenges do you anticipate will affect your sector/profession over the next six months?
The fact that the post credit crisis lack of funding has led to a lack of confidence in both buyers and sellers. There are buyers in the market but they need very careful matching up with sellers and potential transactions need handling with a combination of innovation and caution, not least to get around the challenge of the lack of funding.
What key skills do you think every business leader should have?
Good leaders surround themselves with a great team, listen to their team members and act decisively on the advice generated.
Why do you think Yorkshire is a good place to start up/operate a business?
It’s got everything an entrepreneur needs plus the bonus of a strong business community. It’s a great place to work hard but also to enjoy an excellent quality of life outside of work.
If you could improve anything in the region what would it be?
Nothing within the region itself but business would benefit from better links between Yorkshire and other business centres, in particular I have in mind Manchester and London, both of which I spend a good deal of time travelling between.
Do you think that red tape is hindering business growth in the UK?
It has to be a yes. To take tax as just one example, entrepreneurs are attracted to a low rate, legislative simplicity and stability. Given the volume of legislation has doubled in the last decade or so, we could no doubt do better in terms of attracting and nurturing entrepreneurs, who are so essential for business growth.
What is the best piece of advice you’ve ever been given?
Recruit the best people you can possibly attract.
And the worst?
A former boss who advised me that there were 24 hours a day that could be worked through…and then there’s the night, he said.
What is the best deal/business achievement you’ve been involved with?
Recently, it’s got to be advising the shareholders of British Water Additives (BWA) on its sale to Bahrain-based United International Bank for over £100m. It completed last autumn in the same week Lehmans collapsed, making it a very fraught end to the transaction. Getting it over the line was not only a successful achievement and one of the region’s largest deals of the years, but a great relief too!
What was your first job and what did you spend your first wage packet on?
I had a Christmas job as a salesman at Ratners jewellers and was named salesman of the week mere days before Gerald Ratner called his products crap. Fortunately, my time there came to a natural end that week. I spent most of my meagre wages on bad pop music as I recall.
If you could choose to start your career over again would you do anything different and if so what?
I was influenced by the glamour of James Bond into studying Russian, but for the sake of business I wish I had leant towards Mandarin. And of course I should have worked harder in the gym as a physical likeness to Daniel Craig would no doubt have done me more good in life than some rusty classroom Russian.
