History of TMA Australia

History of TMA Australia

The Turnaround Management Association in Australia (TMAA) was established primarily by professional business advisers and insolvency practitioners together with professionals and service providers focused on value enhancement in  recovery and turnaround of underperforming or insolvent businesses rather than the formal processes of administration, receivership and ultimately liquidation.

The TMA is the only association dedicated to corporate renewal and turnaround management. Established in 1988 in the US it now has 45 chapters and nearly 9,000 members. Fourteen of those chapters are now established outside of the US, of which Australia is the largest.

The Australian Chapter was established in 2003 and has grown strongly to a membership of almost 300. This success was recognised with the Australian Chapter receiving the award for the International Chapter of the Year for 2006. Initially established in New South Wales, the TMAA now has expanded to Victoria, Queensland and Western Australia.

A SHORT HISTORY

2003

• Three professionals from the Accounting and Finance sectors get together to discuss and act on the formation of TMA Australia.
• Turnaround Management Association Australia (Sydney) Chapter Limited is registered

2004 

• A board of 6 oversee TMA Australia
• Australian Representative attends the TMA International Conference in the US
• Inaugural TMA Australia Conference held

2005

• Register a change of name to Turnaround Management Association Australia
• Membership has grown to 73
• TMA & UTS present “Fundamentals of Turnaround Management” an one day introductory course
• Australian Representative attends the TMA International Conference in the US
• TMA Australia Conference held

2006 

• A board of 9 oversee TMA Australia
• TMA licenses its international chapters
• Melbourne Committee formed and launches TMA Australia in Victoria
• First Charity Luncheon raises over $100,000
• Brisbane Committee formed and launches TMA Australia in Queensland
• TMA & UTS present “Fundamentals of Turnaround Management” an one day introductory course in Sydney and Melbourne
• Membership doubles in a year to 147
• Australian Representative attends the TMA International Conference in the US
• TMA Australia Conference held and extended to one and a half days, with interstate and international attendance

2007

• Perth Committee formed and launches TMA Australia in Western Australia
• TMA & UTS present “Fundamentals of Turnaround Management” an one day introductory course in Brisbane, Melbourne and Sydney
• TMA & UTS present “Completing the Turnaround” an one day course extending from the introductory course. To be offered in Brisbane, Melbourne and Sydney

2008

• Annual Conference successfully held outside of Sydney for the first time;
• Establishment of committees in respect of communication, governance, insurance &
• Establishment of TMA annual awards and inaugural award dinners;
• Developed website for TMAA;
• Substantial progress in developing the education program and certification of turnaround professional;
• Grew membership of the Chapter to 230 
• Attracted almost 1000 attendees to the Special Olympic lunches in Brisbane and Sydney

2009

• Annual Conference held in Melbourne for the first time
• 2nd TMA annual awards and award dinners
• New interactive website for TMAA
• Membership of the Chapter grew to almost 300
• Attracted almost 1000 attendees to the Special Olympic lunches in Brisbane and Sydney and raised $170,000