London-based firm Blick Rothenberg has appointed Nilesh Shah as its CEO following the firm’s conversion to a limited company in the CogitalGroup deal
Bob Rothenberg, who spent 20 years heading up the firm as senior partner, will retain his title and undertake ambassadorial work and look after a portfolio of client relationships, while Shah takes on the responsibilty of running the firm.
On the delineation of responsibilities between his CEO role and senior partner Bob Rothenberg, Shah said he is ‘effectively heading up the practice’.
‘Bob [Rothenberg] continues on a reducing time basis ahead of his retirement in a couple of years’ time. Out of respect more than anything else, he has taken on a role as an ambassador, so he is senior partner in title but not in terms of running the practice,’ he said.
‘If you are acquired by a company, you can’t remain a partnership. Having become a company structure, as far as people are concerned nothing has changed for them. The structure and titles, including people being called partners, we have carried on with. So to the outside world and to clients, the people they are used to working with as partners haven’t changed.’
The firm, which has a fee income of approximately £25m, incorporated in June 2016 following its acquisition in a cash deal by private equity house HgCapital. Eight existing partners at the time of conversion outwardly retain their titles as partners, but became directors as a result of the incorporation, Companies House records show. Two partners, Matthew Rourke and Thorsten Toepfer were on the board of Blick from June to October 2016, and remain directors of HgCapital.
Blick Rothenberg, Visma BPO and Baldwins form the CogitalGroup within HgCapital, with each business continuing with their existing brands. The group boasts more than 3,200 people based in Norway, Sweden, Denmark, Finland and the UK, with a significant centre in Romania.
At the time, HgCapital said the pro-forma group revenue is around £300m, nearly two thirds of which is derived from Visma BPO. Blick Rothenberg's estimated turnover is around £25m, while Baldwins gives its fee income as £40m, which would take the group's revenue to £265m.
CogitalGroup is headed up by former Deloitte global chairman John Connolly.
Speaking to CCH Daily, Shah confirmed he reports to Connolly, but said there is ‘limited’ contact with other CogitalGroup member companies.
‘Post-acquisition has been very smooth, and if I look at our people and clients, I think you’d have to remind them of the new structure because it has no impact on them on a day-to-day basis,’ Shah told CCH Daily. ‘In terms with the other two companies in the group, we have very little [interaction] because we are all independent businesses, but we do meet and we are looking at ways we can use eachother’s expertise.’