James joined 20-20 Trustees in December 2020 and is based in the Manchester office. James began his career in corporate restructuring, before specialising as an employer covenant advisor in 2007 after completing an MBA.
Prior to joining 20-20 Trustees, James spent the last five years as a senior manager in PwC’s covenant advisory team. James has a broad range of experience, advising trustees and sponsors of DB schemes with assets of up to £1bn. James has undertaken covenant assessments of employers in a wide variety of sectors, including aerospace, chemicals and retail, together with a variety of not-for-profit organisations. This includes many examples of employers within large, multi-national groups.
James has also advised trustees and sponsors in relation to a variety of corporate transactions, often where there is heavy regulatory involvement. Examples include:
– the sale of a UK sponsor to a new US-listed parent;
– the transfer of scheme liabilities to a newly incorporated employer, backed by loan notes and guarantees from the wider group;
– a complex group reorganisation, resulting in the amalgamation of the business, assets and pension liabilities of a number of companies into a single entity; and
– supporting trustees through corporate restructurings, including CVAs and regulated apportionment arrangements.
James’s core skills are commercial acumen and financial analysis and he is adept at analysing and explaining complex issues in a clear manner. James has a pragmatic manner and aims to bring stakeholders together to reach consensus and find solutions that work for all parties.