About CTP Accreditation
The Certified Turnaround Professional (CTP) designation was introduced in the US in 1993 to create an objective measure of the experience, knowledge, and integrity that is necessary to conduct corporate renewal work. In 2010, TMA Australia launched the first phase of its two part CTP certification which is specifically tailored to the Australian market - the Certified Turnaround Analyst (CTA) programe. The second phase of certification to qualify as a CTP will shortly be available to those who wish to apply.
Honorary CTP Practitioners - In November 2013, TMA Australia was proud to award honorary CTP Certification to - Gwyn Morgan (Westpac), Rick Drury (NAB), Adrian Loader (Allegro Funds), Lachlan Edwards (Lazard Australia) and John Nestel (Herbert Smith Freehills). Those who hold the CTP certification have demonstrated their knowledge, integrity and experience in the corporate turnaround and restructuring profession.
Honorary Certified Turnaround Practitioners
Certified Turnaround Analyst (CTA)
CTA designation is achieved through undertaking three individual courses equivalent to postgraduate level university subjects, that have been developed in conjuction with the University of Technology Sydney (UTS). CTA designation provides graduates with the evidence of an individual’s commitment to turnaround & corporate renewal and attesting to a specified level of expertise and graduates can apply to become a full CTP by demonstrating agreed levels of turnaround experience.
Certified Turnaround Professional (CTP)
CTP designation is the highest accreditation a turnaround professional can achieve. Qualified CTA’s wishing to become a full CTP will be asked to demonstrate a required amount of turnaround experience, provide references, comply with the prescribed Code of Ethics and meet the ongoing CTP requirements in order to maintain their CTP credential.
Lachlan is Managing Director and Head of Capital Structure Advisory at Lazard in Australia. He founded both the Goldman Sachs restructuring business in Europe and Asia Pacific based out of Sydney. He has been a Managing Director of Goldman Sachs for seven years and a partner of Goldman Sachs JB Were for three of them. He has been a banker for 22 years.
Before Goldman Sachs he co-founded and ran the Rothschild restructuring business in Europe in 2001, based in London. He was a main Board director of NM Rothschild & Sons in London. He had previously been a mining project finance banker at Rothschild in Australia for 10 years.
Lachlan has advised the company or the largest creditor groups in some of the world's largest and most complex restructurings. For example, he had a leading role in the restructurings of Royal Ahold, Vivendi Universal, and Eurotunnel in Europe. Since returning to Australia he was a lead adviser for creditors and companies in situations such as Babcock & Brown, OZ Minerals, Elders, Rivercity, Redcape, BrisConnections, Waco, Nine Entertainment, CrossCity, and the financing of the Port Pirie Redevelopment for Nyrstar.
Allegro Funds Pty Ltd (Australia)
Adrian Loader is a co-founder and Managing Director of Allegro, a $300m Private Equity Fund. Adrianhas over 20 years’ experience in Private Equity investment, restructuring and profit improvement, and has been a board member, CEO and advisor to various troubled public and private companies.
Adrian began his career in the Insolvency Division of Arthur Andersen during the recession of the early 90’ where he was predominantly involved in profit improvement, operational and financial restructuring. Adrian has restructured companies in Australia, Thailand and Brunei. Adrian holds a Bachelor of Laws, a Bachelor of Economics degree, a Diploma of Applied Finance and Investment, is an admitted NSW Solicitor, aqualified Chartered Accountant and is currently the Chairman of the Turnaround Management Association of Australia.
Allegro is an independent manager owned by its principals. Allegro invests in mid-market businesses with an enterprise value of up to $100M within Australia and New Zealand. Allegro invests in both performing businesses requiring capital to effect a step change and businesses requiring capital to affect a turnaround or restructure existing funding arrangements.
Adrian is the Regional Director of TMA Asia–Turnaround Management Association and has previously been the Chairman and President of TMA Australia www.tma.org.au
Adrian is on the boards of CH2, I-MED Network, McColls and Vulcanite Ltd.
Gwyn Morgan is the Head of Credit and Asset Structuring within Westpac Banking Corporation’s Institutional Bank. Leading a team of over 110 credit and risk professionals, Gwyn has had global responsibility for overseeing the management Westpac’s impaired and doubtful wholesale credit exposures for the last fifteen years and now has responsibility for the Institutional Bank’s global credit function.
In 1997/8 he fulfilled the role of Chairman of the Co-ordination Committee of Lenders to the Burns Philp & Company Limited Group overseeing that group’s successful restructuring and recapitalisation.
Prior to his involvement in the restructuring of Burns Philp, Gwyn managed a number of the bank’s independent credit risk and portfolio risk review field teams.
Over the past twenty five years, Gwyn has had various senior management roles within Westpac’s Credit Risk Management, Asset Management and Institutional Banking groups including ten years managing impaired corporate exposures. He has managed numerous complex corporate workout or recovery situations in Australia, Canada, New Zealand, Asia, Europe, the UK and the US.
Gwyn is a Fellow of the Financial Services Institute of Australasia and is the immediate past Chair of the Australian INSOL Lenders’ Group.
Herbert Smith Freehills
John is a partner in the Banking & Finance group, with a primary focus on leverage corporate financings, including those involving mezzanine debt, and the restructuring of same.
Since joining Freehills, John has played a major role in some significant financing transactions, including a large number of high-profile privatisations and infrastructure projects. Many of those projects relied upon complex cross border financings, which has become one of John's specialties. Similarly, John has been very active in supporting the turnaround and restructuring market in Australia, having worked on major corporate restructures in the United States and Europe during the past decade.
John has also been involved in many of the recent significant administrations and informal workouts in Australia, as well as in developing innovative usages of mezzanine debt.
John has had a number of articles published in both the Australian Law Journal and the Journal of Banking & Finance Law.