Yesrej, a new consultancy firm has launched this week with a range of business consultancy expertise and specialising in providing corporate turnaround support.
Yesrej is based in Jersey and although operating locally, intends its client base to extend to the UK and abroad. Led by Mary Frawley who is an Accredited Member of the Institute for Turnaround (IFT), it plans to expand corporate turnaround expertise in the Island and will, over time, be training other local consultants with a view to Jersey becoming recognised as a leader in this area of service.
Mary is an experienced turnaround and strategic change management professional. She is an FCCA qualified accountant, a Lean Six Sigma Black Belt, a qualified project manager and senior business analyst. She has over 20 years of wide-ranging experience across businesses from fledgling start-ups to large multinationals, private equity and public sector bodies. She has travelled extensively, and has conducted both financially distressed and regulatory triggered turnarounds in many sectors, including professional and financial services, regtech, healthcare, hospitality, education, security and manufacturing industries.
The IFT is the UK’s leading membership organisation for turnaround experts. IFT members and corporate partner organisations help underperforming businesses avoid unnecessary insolvencies.
IFT members help to preserve jobs and livelihoods, uphold local industries, protect economic value and strengthen public service organisations. The IFT is the only membership body to accredit turnaround professionals, which means that each accredited member must be able to demonstrate and independently validate years of successful turnaround case studies.
Mary explained to Channel Eye: “Covid has been a change accelerator for how we work and live. Government financial support has been an economic lifeline for many businesses, preventing a tidal wave of wholesale business failures. Despite this support, some businesses will still be in difficultly. Early intervention to manage distress, or ideally to prevent it in the first instance, is key.
“In the short term, because some financial support exists and many businesses have conducted health checks, Yesrej will focus on corporate turnaround education and on the provision of consultancy to businesses whom are seeking early intervention to address weaknesses, be these operational and /or regulatory.
“In the medium term, Yesrej is looking to grow a new generation of locally trained corporate turnaround consultants, the training of whom will be supported by fellow IFT members and the IFT itself. In the longer term, Yesrej would like Jersey to be known as a centre of expertise for corporate turnaround consultancy, with Yesrej consultants in demand globally.”
Milly Camley, CEO of the IFT said: “We are delighted to support the development of a new jurisdictional hub of turnaround expertise. The breadth of experience within our membership will be an invaluable resource for Jersey based businesses seeking proven turnaround and transformation expertise. We look forward to Yesrej growing expertise and engagement with turnaround as an essential business process.”
If you would like further information on corporate turnaround, or wish to become involved in the growth of the IFT in Jersey initiative, please contact Mary.