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After 12 years as CEO of the Quoted Companies Alliance (QCA), Tim Ward has informed the board that he intends to retire from the role at the end of 2022. 

Given that the new CEO appointment may cover the three-year rotation of Chair, the board has concluded it is appropriate to announce the identity of the forthcoming Chair at this time. Adam McConkey’s term of office, as the current Chair, is due to conclude at the QCA’s AGM in October. Judith MacKenzie of Downing LLP will then take the role for the next three-year term.  Both Adam and Judith will be available to assist with the recruitment of the new CEO of the QCA.   

Adam McConkey, Chair of the Quoted Companies Alliance said:

“ Under Tim’s direction, over the last 12 years, the QCA has been transformed. The membership has more than doubled and the QCA Corporate Governance Code has been adopted by more than 800 companies. The organisation has matured into a highly effective champion of publicly listed small and mid-cap companies, with real economic relevance and social impact. It has been a pleasure to work so closely with Tim over the last 3 years. I am sure I speak for the membership, the Board and the QCA team in thanking Tim for his tremendous efforts, selflessly pursued with great energy and wit. We all wish Tim the very best

“I’m delighted that Judith has agreed to succeed me as Chair of the QCA in October. Judith is already an extremely active and popular board member, and an experienced investor with great perspective. I have no doubt Judith will make a very significant contribution on behalf of the membership. It is a privileged role, especially at such an important time for markets, economically, politically and socially. It’s a responsibility I have thoroughly enjoyed, and I am sure Judith will do so too. “

Judith MacKenzie, Chair-elect of the Quoted Companies Alliance said: 

“It will be a great honour to chair the Board of the QCA from October.  Adam is doing a great job and I share his enthusiasm and ambition for the work of the QCA.  My own involvement on the QCA Board, over the past 6 years, provides some experience for what is likely to be a period of significant change for the organisation, given Tim’s departure and the macroeconomic backdrop. Tim will be a hard act to follow, but we are determined to find the right person to take on the role of CEO.  I’d like to wish Tim all the best for the future.”

Tim Ward, Chief Executive Officer of the Quoted Companies Alliance, said:

“I have loved every minute working for the QCA and its members. The issues faced by small and mid-cap companies on our stock markets are ones that I fervently believe need to be solved to create a stronger UK economy.  That belief has kept me focussed in this role throughout my time at the QCA. It’s been a privilege to represent so many great companies and their advisors.”

Norman Broadbent, the board and executive search consultancy, has been engaged to conduct the search for Tim’s successor.

– Ends –

About The Quoted Companies Alliance

The Quoted Companies Alliance is the independent membership organisation that champions the interests of small and mid-sized quoted companies.

There are around 1,250 small and mid-sized quoted companies in the UK, representing 93% of all quoted companies. They employ approximately 3 million people, representing 11% of private sector employment in the UK, and contribute over £26bn in annual taxes.

Adam McConkey – Biography

Adam McConkey became Chair of the Quoted Companies Alliance on 15 October 2019.

Adam is Portfolio Manager at Lombard Odier Asset Management (Europe) Limited and has been a Fund Manager for nearly 2 decades, 15 years of which has been dedicated to investing in UK listed smaller companies.

Adam became Head of UK smaller companies at Gartmore in 2010 a role in which he continued in when Gartmore was acquired by Henderson in 2011. The team, known by Volantis, the name of their flagship fund, run circa £1b investing on behalf of public bodies, blue-chip pension funds, family offices and individuals, and is now part of Lombard Odier Asset Management (Europe) Limited.

Adam’s sponsorship of good stewardship in investment decision making and the launch of product with dedicated active engagement strategies have seen him working closely with other stakeholders in the UK listed smaller company community to promote an infrastructure and policy environment that encourages investment. He is a member of the AIM advisory panel. Adam has a PhD in international relations and previously lectured in politics and economics.

Judith MacKenzie – Biography

Judith MacKenzie became a QCA board member in May 2015 and will be taking over from Adam McConkey as Chair of the QCA from October 2022.

Judith is a Partner of Downing LLP having joined Downing in October 2009. Previously she was a partner at Acuity Capital managing AIM-quoted VCT and IHT investments and a small-cap activist fund. Prior to Acuity, Judith spent nine years as a senior investment manager with Aberdeen Asset Management Growth Capital as Co-manager of the five Aberdeen VCTs, focussing on technology and media investments in both listed and private companies. Judith founded Downing Fund Managers in 2010, the boutique investment arm of Downing LLP. She is an active member on boards both in the private and public arenas.

Tim Ward – Biography

Tim Ward was appointed CEO of the QCA in July 2009.  Since then, he has built the QCA into a visible, credible and effective champion of the small and mid-cap companies quoted on the UK’s stock markets. 

His past roles have included Head of Issuer Services at the London Stock Exchange, Finance Director at FTSE International, the index company and various management roles at a smaller quoted company. Tim is a Chartered Accountant, has a MBA from Henley Business School and is a qualified executive coach and mentor.

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