Johnston Carmichael has appointed a new head of restructuring as part of its continued focus on effective succession planning for key leadership positions.

Donald McNaught, a partner in the Glasgow office, who joined Johnston Carmichael in 2011, has been promoted to head of restructuring with immediate effect. The move bolsters the firm’s position as one of the strongest teams of insolvency practitioners in the country following significant investment in recent years.

Donald takes over from Matt Henderson who joined the firm in 2006, leading the team through a period of strong growth, placing great emphasis on developing talent from within to maintain a strong, diverse leadership team. In that time the team has grown from five people across two locations, to 25 people across four locations.

The firm has been involved in several of Scotland’s highest-profile cases, including the liquidation of the Glasgow 2014 Commonwealth Games, the winding down of Airdrie Savings Bank in April, the last independent savings bank in the UK - and this month’s receivership of construction firm Crummock.

Donald McNaught, head of restructuring at Johnston Carmichael, and convenor of the Institute of Chartered Accountants of Scotland (ICAS) insolvency committee said:

 “After starting with an empty desk in a department of one in 2011, I’m delighted to see a 12-strong team now operating out of Glasgow. I’m proud to be involved in the growth story for our restructuring business and look forward to continuing it as head of restructuring along with my partners Gordon MacLure, based in Aberdeen and Matt Henderson, based in Edinburgh.

“Against a backdrop of a declining insolvency market, and increased competition, we have expanded the team and service line by developing alternative routes to market. We’re now providing solutions that work for debtors, creditors and regulators.”

Johnston Carmichael’s restructuring and insolvency business - now arguably the largest in the country with the widest geographic reach - has been further boosted recently by the recruitment of Martin Barr from the money advice sector. Martin, who has over 20 years’ experience in money advice and insolvency, will now lead the personal debt team.

Chief Executive, Sandy Manson said:

“Donald’s drive, passion and ambition make him an excellent candidate to lead our restructuring team in the next stage of their development. His promotion, and the raft of strategic hires we’ve made in recent years, show our commitment to building a firm fit for the future.

“These appointments will, I believe, only enhance our existing strong capability as we expand our range of services and embrace new technologies to meet the ever-evolving needs of our clients.”