R3 Member Spotlight: Louise Durkan

16 June 2023

Louise Durkan is a Partner in Deloitte’s Special Situations M&A business and has over 20 years’ experience of working with a wide range of clients including multi-national corporates, private equity, mid-market privately owned businesses across a variety of industry sectors. Louise acts as the trusted adviser to both internal and external stakeholders and has sat as a member of R3’s Council since 2020.

 Tell us about your journey to the profession and what made you decide to specialise in insolvency and recovery?

I joined EY straight after finishing my A-levels as I had already decided (probably when I was doing GCSE’s) that I didn’t want to go to university. I had chosen to do my work experience in a small practice as part of my business studies course work and was just looking at getting a job without much more of a plan than that.

I wrote to about 100 firms in and around Cardiff of all sizes and I was lucky enough to be invited to an interview with EY and subsequently offered the role of a junior administrator position in their insolvency department.  The team were great, and the work was really interesting and so varied.

I very quickly discovered that there was a career which I could shape for myself even though I didn’t have a degree and I wasn’t on an accounting based training contract. The cards really fell in my favour and at the time I probably didn’t realise just how lucky I was.

What do you consider to be your biggest achievement in the profession to date?

I think that passing CPI, JIEB, taking formal appointments and becoming a partner in a Big 4 firm are all great achievements. Getting this far without going to uni, getting a degree or being a qualified accountant, I hope shows that we are a profession that is accessible to anyone, if you have the determination to succeed. 

One of my proudest moments include a former team member telling me I had inspired them to focus on a career in restructuring, this was at a time when I was a full-time working mum in a senior manager position. They knew I hadn’t gone to university and that I had started my career essentially at the bottom of the ladder and I’d made them believe they could be successful, and their career goals felt more achievable. Having such a positive impact on someone’s career choice is something I have never forgotten.

You currently a sit on R3’s Council and have previously been a member of the South West and Wales Regional committee, as well as the New Professionals Steering Group. What has drawn you to these committee positions?

I have held several roles both at regional and now national level plus I also sit on the R3 Training  and Development committee. Initially I think I simply wanted to build my network and my profile and get more involved in the local restructuring community.  I really enjoyed the regional roles and it gave me a much broader understanding of our restructuring ecosystem. I learnt new skills and pushed myself out of my comfort zone.

Instead of observing I was chairing meetings, presenting on technical sessions, and having to present to large audiences at events and training sessions. As a painfully shy person, the thought of talking to a room of over 200 hundred people was daunting.

When I was asked to consider a role on Council, I felt it would enable me to help shape and support our strategy around new professionals, to encourage access to training and technical guidance on best practice as well as facilitate personal development and networking opportunities. My council role enables me to raise awareness of our profession through my wider network and into the business communities that we support.

What do you consider as the biggest challenge for the insolvency and recovery profession in the future?

There are probably a few challenges for us, the single regulator remains at the forefront of most minds and the impact it will have on advisors and our clients. I agree a single regulator is welcome, but they must be independent and have the relevant skills, resource, and focus.

Secondly, we are a much needed but often misrepresented profession, often associated with business failures rather than rescues, and media headlines focus on job losses rather than the jobs we save. That has remained a challenge throughout my career and I know it continues to be an issue.

Finally, attracting and retaining talent is a significant issue, partly due to lack of awareness of the profession. We need to be a more obvious career choice and continue to build our existing talent and skills base and develop the future leaders of our profession.

How has R3 helped support you since becoming a member, and do you have any advice for those new to the profession?

It’s often difficult to identify the various value points across our membership.  Everyone uses their membership in different way.  Some only want technical support and training from conferences and courses. Others are looking to connect with fellow professionals outside of their own organisation.Both of those things are available but there is so much more. 

You really do get out what you put in and each of my roles and the various events I have attended or hosted has contributed to my own personal development, grown my network, and provided a greater insight into our profession. 

I have kept in touch with former colleagues, been given the opportunity to present technical sessions and host networking events and built my personal brand all with the benefit of the platform made available to me at R3. I would say it played a very important part in building my career.

I have taken full advantage of what membership can offer so I would strongly encourage new professionals to get involved, ask questions and in many instances, volunteer. You can and will enhance your skills, build your brand and raise your organisation’s profile.     

Tell us about your interests and hobbies. How do you spend your free time outside of work activities?

Most that know me well are aware I am a keen horse rider and enjoy spending my time either competing or having a quiet hack around the beautiful Cotswold countryside where I live. If I am not at home with my family, walking the dogs or socialising with friends, I am usually with the horses.