Getting to know your consultant
Interview with James Harley-Booth, our Head of Private Equity Practice.
Q: How did you get into Interim Management?
Having worked for a leading Executive Search business during my final year at University I decided to pursue a career within executive level interim consultancy as I could see it was a real growth area. I joined a leading UK interim provider who specialised in the VC Private Equity arena and stayed there for five years. I have only worked within the Interim space and have never once considered moving out of it.
Q: What do you find most satisfying about your career?
I find the interaction with both the interims and clients the most satisfying aspect especially given the level we operate at. I get to work with some very talented individuals who have had very successful careers and this makes it very interesting. I also enjoy the variety in terms of the types of roles and sectors I work across and seeing how successful an interim project can be.
Q: What qualities do you look for in an interim management candidate?
I obviously like to work with people I can build a relationship with that transcends a purely professional transaction. The interim business is based on the quality of relationships we have with our interims and clients so I look for people with lots of integrity and those focussed on delivery. Interims need to hit the ground running and quickly develop working relationships within a business where they may be viewed with suspicion and not everyone really appreciates that fact. I look for interims who have a track record of delivering beyond the initial deliverables of a project, are dynamic and can adapt quickly to any given situation.
Q: How can clients get the most out of working with IP?
As I have already said the quality of the relationships we have is paramount. This comes through continual communication and building trust. It is very important to have as much clarity as possible from the outset of any project when taking a brief from a client as this is the foundation for any successful interim assignment. We are here to act as a true business partner to enable businesses to manage change and deliver strategy and I find clients get the most from working with us when we are viewed as such.
Q: What would you say are the key challenges for your clients in the Private Equity sector? How can Interim Management help?
Obviously this past 12 months has completely changed the landscape given the continuing repercussions of the credit crunch. New deals have certainly slowed down and the growth and exit multiples we have seen over the past few years will be a lot harder to achieve. I honestly believe that investors will have to take a much more active role in the management of portfolio companies as economic conditions become more challenging and this is where I believe that experienced Interim managers have an important part to play. Clearly Interim managers with turnaround experience could have a vital role to play over the coming months as businesses get into more difficulty with problems around working capital, breaching banking covenants, and falling margins and profits. Interims become a very flexible resource in these cases and can be used to inject particular expertise and skills in different situations as and when required. Ultimately however, I believe that the private equity and entrepreneurial communities will be the catalyst for another sustained period of growth after navigating the current conditions and Interim managers will have a big role to play in this.
Q: Favourite destination?
I love New York, anywhere in Italy, and Ibiza.
Q: Best restaurant/favourite food?
I love all kinds of food, but particularly Creole and West Indian food
Q: Which three people would you have round for dinner?
Zinedine Zidane, George Orwell, and Bob Marley.
Q: Three favourite albums/artists?
What's Going On? - Marvin Gaye, Tourist – St Germain, Exodus – Bob Marley.
Q: What are you currently reading?
Kite Runner - Khaled Hosseini
Q: What are your ambitions?
Failing scoring the winner for Aston Villa to win the Premier League my main aim in the short term is to build a successful operation for Interim Partners in London and be the leading interim provider in the private equity space. I would also love to see a lot more of the world and perhaps live in another country at some point in the future. I have always wanted to learn a foreign language and perhaps one day I will find the time and motivation to do so.