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I am a qualified treasury professional (both ACA and FCT qualified) with 20+ years of experience. My recent career has focused on Corporate Treasury but my previous experience also includes Investor Relations, Financial and Management Accounting and Reporting, Financial Operations and Controls.My treasury experience covers cash and liquidity management, raising finance from the debt and equity capital markets; treasury risk management; treasury processes and controls; corporate finance - advising on capital structure and capital management, financing strategy, dividend policy and share buybacks.Currently I am the Head of Treasury at Verian Group, a private equity backed business which provides research, evidence and advisory services to governments and customers in the public realm spanning 20 markets internationally. Verian Group is a carve out from a larger business and I was recruited to provide strategic and operational leadership to a newly established treasury function. Prior to that I was the Director of Treasury and Tax for Babylon, a fast growing healthtech company where I was responsible for establishing and managing the business’ treasury function, initially focusing on cash and liquidity management, payments, bank account management, cash flow forecasting, managing surplus cash, foreign exchange management and treasury processes and controls. I also worked on various fund raising projects and set up and oversaw the Group's tax function responsible for UK and US tax compliance and various tax projects. I was also a key member of the project team that worked on the Company's listing on the NYSE through a SPAC transaction.Before Babylon I worked at William Hill, an international retail and online gambling business. I joined initially as their Financial Controller leading a team of 40 responsible for all financial transaction processing, financial control, accounting and financial reporting. After working on the successful IPO of the business I became the Corporate Finance Manager responsible for balance sheet management, investor relations, tax and procurement. I spent the last 8 years as the Group Treasurer looking after all capital markets and funding activity, debt investor relations, corporate financial management, cash and liquidity management, treasury risk management and treasury operations and controls. I was also Trustee/Chairman of the William Hill Pension Scheme for 10 years successfully eliminating a £100m pension deficit.
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Head Of TreasuryVerian Group Feb 2023 - PresentLondon, England, United KingdomVerian Group (formerly Kantar Public) is a private equity backed business that provides research, evidence and advisory services to governments and customers in the public realm and operates in 20 markets internationally. Verian Group is a carve out from a larger business and I was recruited to provide strategic and operational leadership to a newly established treasury functionOperational responsibilities included:• Day to day cash and liquidity management across 20 entities and 15 currencies, ensuring operations are adequately funded and surplus cash is swept back to the Group centre• Handling all payments• Managing relationships with 19 transactional banks including bank accounts, mandates, online banking systems and responding to bank queries• Cash positioning and short-term cash flow forecasting• Managing the Group’s revolving credit facility borrowings and compliance with the loan agreement, including the provision of monthly reporting and quarterly financial covenants• Arranging bank guaranteesStrategic achievements included:• Establishing new processes and controls over payments integrating these with the new ERP and payroll systems being implemented• Setting up a host to host connection between some of our banks and the ERP system to automate the supplier payment process and improve its efficiency• Working with the tax, accounting and legal teams to implement intercompany funding arrangements to facilitate the transfer of cash between Group companies tax efficiently• Developing plans to rationalise the number of banks and bank accounts and implement more effective cash concentration arrangements to improve the efficiency of Group-wide cash management. -
Director Of Treasury And TaxBabylon Apr 2022 - Dec 2022London, United KingdomBabylon was a rapidly growing healthtech company developing and delivering a digital first primary healthcare service.My responsibilities covered Treasury and Tax management. On the Treasury side my focus was on cash and liquidity management, bank account management, cash positioning, cash flow forecasting, managing surplus cash, foreign exchange management, payments and other treasury processes and controls.On the Tax side I established the Group's tax function and oversaw a small team undertaking UK and US tax compliance. I manage the tax work stream on major corporate projects such as Babylon's listing on the NYSE through a SPAC transaction, corporate restructurings etc. -
Treasury ManagerBabylon Sep 2019 - Mar 2022London, United KingdomI was recruited as Babylon's first treasury professional to set up their treasury function. My focus has been on setting up basic treasury disciplines such as global cash positioning, short and medium term cash flow forecasting, bank account management, surplus cash management, foreign exchange management and treasury processes and controls whilst supporting the business's growth and international expansion.
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Group TreasurerWilliam Hill Oct 2010 - Sep 2018London, United KingdomAs Group Treasurer I was responsible for capital markets and funding activity, debt investor relations, corporate financial management, cash and liquidity management, treasury risk management and treasury operations and controls. I also spent ten years as a Trustee of the William Hill Pension Scheme (four years as Chairman of the Trustee Board).• Capital markets and funding - I developed the Group’s funding strategy, raised new equity and debt capital and refinanced the Group’s maturing debt facilities. For example I raised c£1.1bn of equity and debt acquisition financing which included leading a £375m equity rights issue, negotiating £325m of bridge loan facilities with a syndicate of banks and successfully issuing £375m of high yield bonds to credit investors.• Debt investor relations - I took ownership of all debt investor relations activity preparing for and undertaking meetings and presentations to lenders, credit investors and credit analysts including those from the credit rating agencies.• Corporate financial management - I advised the Board on the management of the Group’s capital structure, leverage, dividend policy and share buybacks and implemented any decisions.• Cash and liquidity management – I was responsible for the visibility, control and optimisation of the Group’s cash assets across multiple entities, geographies and currencies involving c250 bank accounts.• Treasury risk management - I developed, updated, implemented and monitored treasury policies on managing interest rate and foreign exchange risks.• Treasury operations and controls: - I was in charge of a small team undertaking day-to-day treasury activities and was responsible for the oversight and improvement of all treasury processes and controls.• Pension Trustee and Chairman: - I led the Trustee Board of the William Hill Pension Scheme during which time we eliminated a £100m deficit in the defined benefit scheme and revamped the defined contribution scheme. -
Corporate Finance ManagerWilliam Hill Jul 2002 - Sep 2010London, United KingdomResponsible for corporate finance and investor relations. I also led the tax team and established the Group’s procurement function.• Corporate Finance: - I managed the Group’s balance sheet, capital structure, leverage and debt and equity funding.o I restructured the Group’s balance sheet refinancing c£1.5bn of debt through a £350m rights issue, c£800m of new forward start bank loan facilities and issuing high yield bonds raising £300m.o I led the project to obtain credit ratings from Moody’s and Standard and Poor’s to support the Group’s £300m bond issue.o I managed the Group’s share buyback programme returning £450m of value to shareholders.• Investor Relations: – I was the investor relations function supporting the CFO and CEO with all investor relations activities:o Drafting interim and preliminary full year results announcements and trading updates.o Organising the interim and full year results presentations to analysts and investors and preparing the presentations, scripts and Q&A. o Working with the Company’s brokers on equity roadshows and attending roadshow meetings with the CFO and CEO.o Dealing with analyst queries and working with them to shape market expectations.o Arranging capital markets days to educate investors and analysts about aspects of the business and update them on strategy.o Attending investor conferences and presenting on behalf of William Hill.o Undertaking group and one on one meetings with analysts and investors.• Tax and Procurement: - I had line management responsibility for the Tax and Procurement functions.o I agreed the Group’s outstanding corporation tax affairs with HMRC for the years 1997 – 2006, recovering £15m.o I implemented tax planning arrangements allowing the Group to access £60m of trapped tax losses saving £18m in tax.o I agreed a new VAT partial exemption method with HMRC.o I established a Procurement function for the business which delivered £1m of cost savings in its first year.
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Financial Accounts ManagerWilliam Hill Aug 1999 - Jun 2002London, United KingdomI led a team of 40 people responsible for all financial transaction processing, financial accounting and financial control. I was responsible for satisfying internal and external financial reporting requirements.• I improved team engagement and reduced staff turnover resulting in lower recruitment and training costs.• I improved the efficiency of the periodic financial close and reporting processes reducing weekend working and overtime costs.• I was part of the project team that selected and implemented a new finance system.• I was a key member of the Group’s IPO project team that delivered a successful exit for the Group’s private equity owners. I negotiated £660m of new syndicated loan bank facilities, unwound the existing private equity debt structure and worked on key IPO documents including the prospectus, long and short form reports and the working capital review report.
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Team Leader - Management AccountsShell Sep 1997 - Aug 1999London, United KingdomI led a financial planning and analysis team of four responsible for providing monthly management accounting, variance analysis, budgeting and forecasting services to various Head Office divisions within the Shell Group.• I developed and produced regular monthly management accounts packs, variance analysis and commentary for the newly established Renewables Division.• I helped divisional management develop their annual budgets.• I improved the department’s customer satisfaction scores. -
Senior Project AccountantRsa Sep 1993 - Aug 1997London, United KingdomI worked as part of the Head Office team responsible for producing consolidated monthly and annual Group accounts and budgets for internal management and external financial reporting.• I reduced the internal reporting cycle by one day.• I developed the balance sheet commentary included within the monthly management accounts pack.• I led the team to select a new financial consolidation system for the Group.• I worked as part of the team integrating the accounting and financial reporting processes of the Royal Insurance and SunAlliance groups following their merger, producing the first set of consolidated group accounts under merger accounting principles. -
SupervisorPwc Sep 1989 - Sep 1993London, United KingdomWorking in the Audit Division I led small teams with responsibility for planning, managing and performing a variety of audit and non-audit assignments.
Nilay Patel Education Details
Frequently Asked Questions about Nilay Patel
What company does Nilay Patel work for?
Nilay Patel works for Verian Group
What is Nilay Patel's role at the current company?
Nilay Patel's current role is Experienced Treasury professional.
What is Nilay Patel's email address?
Nilay Patel's email address is np****@****l.co.uk
What schools did Nilay Patel attend?
Nilay Patel attended University Of Durham, Institute Of Chartered Accountants In England And Wales, Association Of Corporate Treasurers.
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