28 BANKER
OF THE YEAR AWARD
SPONSORED BY PARIS SMITH WINNER HSBC’S RICHARD POVEY
Above: Richard Povey Right: Povey (centre) with Andrew Heathcock (right) and Mark Durden-Smith
The hunt for the winner of Banker of the Year attracted some excellent entries from a broad cross-section of banks.
The category, sponsored once more this year by Southampton-based law firm Paris Smith, saw three well-known names shortlisted: Mike Donaldson from Santander, Nigel Gibson from Lloyds Bank Corporate Markets, and Richard Povey from HSBC.
Gibson narrowly missed out on the award last year as one of the top three candidates, while Povey was hoping to emulate the success of his colleague Mark Frettingham, who won the title in 2010.
Donaldson was described in one nomination as being “at the forefront“ of Santander’s rapid expansion into the Solent and Reading market and is credited with helping to establish the bank as a significant player along the south coast.
Over the past 12 months, Santander’s new Southampton office has won 38 new business relationships and agreed total facilities of some £130 million, with deals including the refinance of Vislink and the provision of a £10m asset finance line for a supplier of commercial vehicles.
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The judges were told that Gibson, who has been with the Lloyds group for over 35 years, had managed almost £60m of funding for new customers in the Thames Valley, as well as continuing to work with his existing clients.
Described as “proactive and well-respected“, his deals included the £30m refinancing of SemLogistics Milford Haven, the largest independent petroleum products storage company in the UK and the only one capable of handling crude oil. He was also involved in a substantial MBO of a construction company and a property acquisition funding for a fine art removal and storage company.
For Povey, it was his leadership, professionalism, commitment and flexibility, and his reputation for delivering on promises in a challenging market, which were listed by an impressive number of nominees who put his name into the ring for Banker of the Year.
Povery leads the HSBC transactions team in the Thames Valley focused on the leveraged portfolio, predominantly for companies with private equity backing. Recent deals he has been involved in include the MBOs of Kerridge Commercial Systems and Alcumus, the £257m secondary
buyout of LGC by Bridgepoint, and the £222m refinancing transaction of Host Europe.
Andrew Heathcock, managing partner at Paris Smith, was given the task of announcing the winner and it was a thrilled Richard Povey who made it two in a row for the HSBC team.
Speaking afterwards, Povey said it had been great to be nominated and the award reflected a fantastic year for the transactions team in Reading, during which a number of deals had been completed, in both the small and large deal sized categories.
He added: “I am absolutely thrilled to receive this award which recognises the work that HSBC has undertaken in the transactions arena in the last year.
“The accolade also reflects the hard work of the fantastic team that I am proud to work with in the Thames Valley Corporate Banking Centre, as well as the support we receive from the wider professional community and, most importantly, the management teams who continue to come to us with great business plans and strategies.“
THE BUSINESS MAGAZINE – THAMES VALLEY – MAY 2011
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