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16th March, 2016

Announcing New Partnership Asia Transformation and Turnaround Association & Institute for Turnaround

The Asia Transformation and Turnaround Association (ATTA) of Hong Kong and The Institute for Turnaround (IfT) of London are delighted to announce they have signed a Strategic Partnership agreement. Each organisation is the leading professional association in its geographical region for transformation and turnaround expertise, advancing the skills of the accredited specialists who lead the delivery of major change projects in organisations facing significant challenges.

Designed around the principle of reciprocal membership, this new partnership creates a combined membership base of approximately 700 practitioners with common accreditation standards and harmonised ethical and disciplinary codes.  Organisations embarking on strategic cross-border transitions will benefit from the ready availability of an agile network of sector and operational experts with deep local market knowledge.  The alliance will extend members’ scope and reach through enhanced access to like-minded co-operation partners. Increased intelligence about customers’ needs will enable members to specialise further in areas ranging from supporting financially challenged corporations to driving gradated operational maturity programmes.

ATTA and IfT share the same mission to provide networking and development opportunities to accredited professionals, who are accountable for delivering major transformation or turnaround changes in organisations which face significant challenges and operate in dynamic environments. This strategic alliance brings closer alignment of members in both organizations, and is a result of a natural evolution that has developed between the two organisations over time. Since its inception, the founding members of ATTA have looked to IfT for advice and support, and have built a cordial and consultative working relationship with the board of IfT.

To become a reciprocal member of both IfT and ATTA, aspiring members are required to submit three project case studies, which clearly demonstrate that they have delivered successful turnarounds or transformations. Additionally, they need to meet specific background experience and qualifying criteria, as well as pass an interview with a membership panel where their experience is tested. There will be no additional charges for dual-organisation members, who simply need to complete a simple, shared registration process respectively. The Codes of Ethics and Disciplinary Codes of IfT and ATTA will apply in the relevant jurisdictions.

Richard Pennycook, Chairman of The IfT said: “With our members becoming more and more involved in international assignments involving Asia, the strategic alliance with ATTA provides a combined membership platform for sharing of knowledge, regional expertise and capabilities”.

Russell Brown OBE, ATTA Chairman said: “ATTA’s mission is to be the ‘go-to’ organisation in Asia for transformation and turnaround expertise. ATTA was founded to create a platform for transformation and turnaround specialists based in Asia, and has consulted over time with IfT on its operating model.

and structure. Increasingly, our members are running projects stretching across other countries outside of Asia, especially Europe. The signing of a strategic alliance with IfT is natural progression in our development, and I know it will be of great benefit to our members.”

Further information:

Christine Elliott, Chief Executive

Russell Brown, ATTA Chairman

Editor’s Notes

The IfT is Europe’s international standard-bearer for the best-established, highest quality accredited professionals in turning around and transforming organisations. Applying transformational skills at challenging times in any organisation’s life cycle should generate and embed value for all stakeholders. What IfT- accredited members do matters to the economy – by saving jobs, boosting productivity, growth and protecting the interests of customers, employees, shareholders and the wider general public – and that, surely, is creating sustainable value.

ATTA is the premier professional body in Asia that brings together leaders in the transformation and turnaround sector to share their executive experience and industry knowledge. ATTA is a platform for innovative problem-solvers working on the frontline of business transformation and turnaround management – the people who drive the strategic initiatives which shape the future of businesses in Asia and around the world.

Richard Pennycook, Chairman, IfT

Richard has 25 years’ senior level experience in retail, hospitality, fmcg and financial services businesses and has been involved in a number of high profile turnaround and transformation situations. Richard is currently running the Co-operative Group. Prior to that, he was an IfT Award winner for the turnaround of Morrisons. He is Non-Executive Chairman of The Hut Group and a Non-Executive Director of Persimmon and Howdens.

Russell Brown OBE, Chairman, ATTA

Russell is Founder and Managing Partner of Lehman Brown International Accountants, a China-focused accounting, taxation and business advisory firm with operations in Beijing, Hong Kong and five other offices across China, employing around 200 professionals. Russell has over 28 years’ working experience including 20 years living in China and involved establishing and developing businesses in China. Prior to founding Lehman Brown, Russell was Global CFO of one of the world’s largest public relations and communications consulting companies and prior to this their Asia Pacific Regional CFO.

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