Johnston Carmichael has has strengthened its financial services advisory team with the appointment of a key strategic hire.

Ewen Fleming joins as partner following a long and successful career in financial services covering retail banking, wealth management and business consulting. He brings with him significant experience in strategy and planning; implementing large scale change; credit risk; operations; sales distribution; and management consulting.

His appointment is part of an ambitious plan to expand Johnston Carmichael’s capability in the financial services industry.

Prior to joining Johnston Carmichael, Ewen was a partner at Grant Thornton and leader of the firm’s Financial Services practice. He began his career at Royal Bank of Scotland where he occupied senior roles in risk, strategy, and distribution & operations for the bank’s retail, SME and wealth divisions. From there, he moved to Santander UK where he established its Premium Banking business before becoming a highly respected business consultant to the financial services sector.

In his new role, Ewen will help to build on the existing expertise within Johnston Carmichael’s financial services team which led the high profile, independent review of ten proposed Royal Bank of Scotland branch closures last year. The firm also has strong expertise working with a wide range of organisations across the financial spectrum providing services ranging from statutory/regulatory audits and controls assurance reporting, to regulatory capital reviews and the production of Key Information Documents and MiFID II reporting models. The firm has also invested in financial modelling and data analytics expertise in recent years.

The UK financial services industry is one of the biggest worldwide and contributed £119bn to the UK economy in 2017 - 6.5% of total output. 

However, the industry is facing challenges on several fronts including evolving customer requirements, the increasing adoption of digital technologies, and economic factors including Brexit. Additionally, the banking sector has been affected by regulatory changes and increased competition from challenger banks, as well as the low interest rate environment, which has had a negative impact on profitability.

Ewen Fleming said: “I am very excited about joining Johnston Carmichael and having the opportunity to help the firm build on its strong brand and reputation in the financial services sector.

“I have also been deeply impressed by Johnston Carmichael’s ambition to create sustainable growth built on the foundations of hiring and developing top quality people.

“The financial crisis of 2007 to 2008 has a very long tail and the banks are having to work hard to regain the confidence of the public. Experienced and trusted advisers are key to developing our financial services sector and ensuring it continues to be a global player.”

Sandy Manson, chief executive of Johnston Carmichael, said: “We are really delighted to be welcoming someone of Ewen’s experience and stature to Johnston Carmichael where he will play a very significant role in developing our financial services offering. This move is all part of our ambitious strategy of expanding the range of services we can offer our growing client base.

“A number of factors have combined to create a strong opportunity for us in the marketplace, including unique challenges such as the growing digitalisation of the financial services industry, and changes to the procurement of audit services, which have resulted in an ever-growing need for businesses to access a range of trusted and qualified advisers to avoid potential conflict. As many of the issues now faced are new, there are few ‘off the shelf solutions’ available; enabling us to develop and deliver highly bespoke services that meet the sector’s and most importantly, our clients’ needs.”