what is a turnaround? restructuring? · of corporate renewal professionals turnaround management...
TRANSCRIPT
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What is a turnaround? restructuring?
Carlos GilaTMA Europe President
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Value
time
When things do not go as planned…
Restructuring
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Optimism
excitement
thrill
EuphoriaAnxiety
Denial
Fear
Desperation
Panic
Capitulation
Despondency DepressionHope
Relief
Optimism
Point of Maximum Financial Risk ¡Temporary set
back. We are long term
investors/Lender
Maybe the markets
arent just for me!!
wow! I love this
investment
Emotional ride of an investor / Lender
Point of Maximum Financial opportunity
© Gila&Co. No reproducir sin autorización escrita www.gilaandco.com
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The worldwide community of corporate renewal professionals
Turnaround Management Association
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Founded in 1988 at the Frank Hawkins Kenan Institute of Private Enterprise at the University of North Carolina- Chapel Hill
20th AnniversaryCelebrated in 2008
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“To serve as a forum for corporate renewal professionals from all disciplines to promote high standards of practice, foster professional development and enhance the image of TMA members.”
TMA Mission
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Diverse disciplines . . .all committed to the goal of restoring corporate value
People with a common bond
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Diverse disciplines
Interim corporate managers withroles of COO, CEO, CFO and CRO
Financial advisors Operations advisors
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Diverse disciplines
Service providers: accountants, bankers and lenders, lawyers, consultants, appraisers, auctioneers, investors, liquidators
Academics and students Bankruptcy judges and trustees
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9%
14%
25%11%
7%
10%
15%
4%5%
Accountants
Legal
Consultants
FinancialAdvisors
Misc
Investors
Lenders
Receivables
Auctioneer/Liquidator
Breakdown of TMA Membership
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What TMA Stands For Commitment: High standards of
practice and improved turnaroundmethods
Respect: Image-building for theprofessionals in the industry
Public recognition:The authoritative voice of corporate renewal to the business world and the news media
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Ethics: TMA members subscribe to a Code of Ethics to be competent, truthful and responsible for their work Certification: Provides a measure of
education and experience Integrity: Rebuilding not only financial
value in troubled companies but also strong corporate values
What TMA Stands For
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Network ofInternational Chapters46 chapters worldwide32 in North America and one each in:
Europe (10)• Czech Rep., Finland,
France, Germany, Italy, Netherlands, Romania, Spain, Sweden, United Kingdom
• Prospective: Baltics, Denmark, Ireland, Poland, Russia, Turkey, Ukraine
Asia (3)• Australia/New Zealand,
Japan, Taiwan• Prospective:
China, Hong Kong, Singapore, S. Korea
Other (2) [3]• Brazil, South Africa• Prospective:
Argentina, Mexico
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Other Countries* with TMA Members
Austria BermudaCayman Islands ChinaDenmark
Hong Kong HungaryKoreaMexicoNew Zealand
PortugalRussiaThailandTurkey
* Without local chapters
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Chapter Representation at International Level Each Chapter has one seat on the International Board of Directors 3 positions on the Executive Committee are dedicated specifically for Chapter representation Chapter Presidents Council is a key committee that provides input on strategic and operational issues
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TMA Membership Growth
Since 1988, TMA hasgrown from 200members to more than 9,500 in 2012
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4 0624 482
5 674
6 7246 953 7 065
7 683
8 304
8 860
9 547
2 000
4 000
6 000
8 000
10 000
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
Mem
bers
Year
Overall TMA Growth2000-2009
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Benefits of Membership
Membership in local chapter enables world-wide chapter access Reduced member fees at three international educational conferences a year Networking at regional and international events Industry research
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Global connection to 9,500 leading experts and finest business minds in the industry
Opportunity to join International Federation of Insolvency Professionals (INSOL) through TMA special interest section
Benefits of Membership
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Benefits of Membership Professional development and
educational sessions at conferences Access to current industry
information at www.turnaround.org
Your searchable professional profile on the TMA Web site
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Benefits of Membership
Subscription to the award-winning Journal of Corporate Renewal Timely articles on issues important
to the corporate renewal industryKey marketing avenue to promote
your business International and local event
notices
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Turnaround and Transaction of the Year Awards
TMA International News• Designed to serve TMA’s international
members• Focuses on topics of interest to the
international community of corporate renewal professionals
• Distributed quarterly in electronic format
Benefits of Membership
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Benefits ofMembership - Writing Articles
• Journal of Corporate Renewal• Annual Institutional Investor• Quarterly Financier Worldwide• Monthly DBR “Viewpoints” Column
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Certified Turnaround ProfessionalsTMA’s Certification Oversight Committee develops, monitors and maintains a certification program for professionals in the corporate renewal industry
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CTP Certification Program Encourages professional
excellence Provides an objective measure
and recognition of expertise Launched in Japan in 2006 Other countries in progress
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Cornerstone 15
Launched in 2003 by TMA in response to increasing demand for research and continuing education to support the corporate renewal industry and its constituents
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Cornerstone 15
TMA reached its fundraising goal of $1.5 million to create a board-designated endowment to fund new research and education initiatives for the corporate renewal industry
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TMA Europe: Goals Development & Growth Stronger Integration
• TMA Europe President and Secretariat
• Regional cooperation initiatives
Regional Annual Conference (leading) TMA Regional CTP program
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TMA Europe: Affiliates (10)Country Launched MembersCzech Republic 2009 33
Finland 2006 111
France 2003 40 *
Germany 2006 204
Italy 2009 50 *
Netherlands 2009 125
Romania 2012 23*
Spain 2008 58
Sweden 2010 26 *
United Kingdom 2003 402 *
* member count end year 2011 (est.) 1070
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TMA Europe: Dev. Prospects
•Western Europe: Austria, Belgium, Denmark, Ireland, Portugal
•CEE: Baltics, Russia, Turkey, Ukraine
•Others: Hungary, Poland, Serbia
Italics indicates formation efforts underway
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Regional Annual Conferences • 2012 - Madrid
• 2011– Helsinki
• 2010 – Berlin
• 2009 – Amsterdam
• 2008 – Paris
CTP Training workshops Will be discussed at Madrid in June
TMA Europe: Regional Annual Conferences
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Staff ContactsMandy Caruana +44 208 286 3025
European Executive Assistant
Greg Fine +1 (312) 578 2020
TMA Executive Director
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Thank you for your attention