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Comments Off on Capita hires PwC UK chair as its new chair

Capita hires PwC UK chair as its new chair

Posted by Admin | July 4, 2016 | Telecoms

UK SITS market leader Capita is appointing Ian Powell, the current chairman and senior partner ofPwC UK, as its new non-exec chair – continuing Capita’s long tradition of employing accountants as senior managers within the business.

Powell will join Capita on 1 September 2016, as non-exec director and chairman designate, and then become non-exec chairman on 1 January, 2017. Powell succeeds Martin Bolland who resigned as Capita’s non-exec chairman in February, and leaves at the end of December (see Capita predicting slower organic growth (update)).

At the same time, Capita announced it had won a £37m three-year extension with the Pensions Regulator, to continue helping with auto-enrolment regulation compliance. Although welcome news, what Capita really needs is more new deals like its £140m win with Tesco Mobile announced last week.

Capita has a long-standing history with the accountany profession – it was formed in 1987 via an MBO from the Chartered Institute of Public Finance and Accountancy (CIPFA). Founder Rod Aldridge is a chartered accountant, as is former long-term CEO Paul Pindar.

Powell should therefore fit very well into the current team led by CEO Andy Parker. Until now, Powell has spent his career at PwC, joining in 1977 and rising through the ranks to UK chairman in 2006. He has broad financial, commercial and regulatory experience and has led PwC’s interactions with the UK Government and the wider public sector. Meanwhile, Powell’s ‘background of delivering growth in a highly competitive environment across a diverse and innovative organisation makes him ideally suited to Capita’. Powell will also need to manage Capita’s increasing complexity at a time of immense disruption across its core markets.

Source: techmarketview

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