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nick smith

Nick Smith

Senior Director, Restructuring

KPMG in the UK

As part of his role at KPMG, for the last 5 years, Nick has acted as an interim turnaround executive at the BoC (Bank of Cyprus), initially as the Executive Director of the restructuring & recoveries division, and most recently the bank’s Director responsible for corporate finance solutions.

As an interim executive, Nick was responsible for setting up and then leading a team of c.600 specialists in the workout of €18 billion NPL’s representing 65 percent of the Bank’s lending assets. These NPL’s having been generated following a system wide economic crisis that caused a major dislocation in nearly all industries on the island.

Nick led the Bank’s design and execution of its restructuring and recovery strategies covering everything from large complex corporates through to high volume SMEs and small retail NPL’s. Corporate and SME NPL’s derived from numerous industries including hospitality, real estate, retail, education, telecoms, industrial and healthcare.

Nick has sat on all the Bank’s largest lending and asset disposal committees. He played a key role in the Bank securing a €1bn emergency equity raise, successfully delivering two bond issuances and listing the Group on the LSE. He helped setup the Bank’s Real Estate Management Unit (which is overseeing the sale of over €2.5 billion in  real estate assets), led the carve in and carve out of loan servicing platforms, led the Bank’s regulatory and investor dialogue around asset quality issues and materially improved the Bank’s lending and credit policies.

Prior to his role with BoC, Nick specialised (since 2000) in advising companies, lenders and owners in executing complex financial restructuring solutions across Europe. He has deep experience in managing the complex stakeholder issues prevalent in large multi-jurisdiction financial restructurings and the innovative solutions needed to quickly unlock difficult situations.

Education and qualifications
  • Executive MBA (EMBA) – University of Edinburgh Management School, Scotland

Accreditation
  • Member of the Institute of Chartered Accountants in England and Wales (2000)

Areas of expertise
  • Financial restructuring solutions

  • Financial services

  • Non-performing loans for banks

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