Non Executive Director

For many years, Tony was an investment analyst specialising in the building materials, real estate, construction and support services sectors with UBS (aka Phillips & Drew), Morgan Stanley and ABN AMRO. During this time he was highly ranked in both the UK and US –and wrote research on a range of international companies. Flotations, mergers and acquisitions plus treasury and share related issues were also a large part of his work and details are listed elsewhere in this website (see Corporate Finance plus Mergers & Acquisitions).

In 1992-96, Tony was Director of Corporate Planning with Tarmac plc which, in the 1980s, was the UK’s number one in quarry products, construction and housebuilding plus it owned a substantial business in the US. However, the Group was impacted severely by the recession which dominated the industry in the first half of the 1990s and, to ensure its survival, Tarmac underwent extensive rationalisation and financial reconstruction. The process culminated in the £300 million asset swap (housing for aggregates-construction-and-cash) with George Wimpey (which later merged with Taylor Woodrow). Not surprisingly, Tony says that he learned more in this four year stint than at any other time in his career.