Construction Wave recently launched its inaugural Construction CFO Summit in London, attended by some of the leading lights in the business of finance and payment methods within the Built Environment sector.
8 Northumberland Avenue was the setting for a morning and then afternoon of high-level knowledge sharing and insight amid a bustling conference room of more than 200 attendees, with intermissions for valuable networking.
Gold Sponsors of the unique industry event were leading insurance company Gallagher, supplier management software provider GigBridge, and project management platform SymTerra.
Silver Sponsors on the day included Ardent Tide, payment management company Copay, and labour recruitment firm TeamForce.
Wave News’ valued Event Sponsor throughout the entire process, from inception to delivery, was construction procurement platform ProcurePro.
The summit began early with opening remarks from Construction Wave founder and CEO, Andrew Curtin, followed by a segment exploring effective financial strategies across construction projects, moderated by Stock Exchange Group COO, Premal Parekh, with panellists Inderjeet Kaler, director of finance at Leaf Living, and Sam Stacey, chairman of SustainCRE.
After a rousing Q&A session with audience members, also fellow finance officers, Premal hosted a new panel with GigBridge CEO Gabriel Makinwa, and Fractional CFO Chris Walsh, exploring how construction companies can leverage technology in financial management scenarios across the supply chain, which also sparked a lively debate and round of questions from the audience.
The morning eventually gave way to the afternoon, which was headlined by an insightful discussion about managing financial risks across construction projects, with panellists Paul Reidy, director of construction at Arbuthnot Latham, Alexander Dietrich, chief construction and design officer at Maybourne Hotel Group, and Gallagher partner, Josh Everett, hosted by Wave News founder, Andrew Curtin.
The important issue of supply chain liquidity which followed, drew expert speakers from Copay including co-founders Vasilis Ilias and Mahmoud Bahaa, alongside Alexander Dietrich, Sam Stacey, and principal moderator, Premal.
Guest speaker and Carey Group CFO, Martin Nilsson, spoke next on the subject of financial lifelines and mastering construction liquidity approaches, before fielding questions from colleagues and industry representatives on how his broad expertise could benefit those coming from within the Built Environment sector.
Next, British Airways director of finance, Nessa McNeela, took centre stage alongside Wave News founder, Andrew Curtin, to speak to how she navigated her company through the Covid-19 crisis, and the similarities between the two relatively archaic business models of Construction and Aviation and what critical lessons could be transferred from one to the other.
To close the summit in the late afternoon, Julie Palmer, managing partner at Begbies Traynor, spoke candidly about why the construction industry currently has the highest number of insolvencies and what are the warning signs fellow finance directors should heed to avoid messy administration processes, which roll over the valued workforce, supply chain and business creditors.
Thereafter, drinks and refreshments were enjoyed by all in the spacious ground floor conference suite of The Grand, where Wave News’ Gold and Silver event sponsors provided complementary gift parcels and packages to attendees, with useful literature from their respective booths.
Many guests remarked on the high calibre of speaker on the day, and several event sponsors also pledged to return with other businesses to the next Wave News Construction CFO Summit in 2025, the details of which will be released in due course.
Ardent Tide director, Noel Byrne, said: “Construction is indeed in a ‘perfect storm’, so the timing of Construction Wave’s CFO Summit was as perfect as the storm we are all navigating.
“At times like these you need to gather all the wisdom you can, so thanks to the generosity of the main speakers, together with the excellent panellists – we have an abundance of knowledge and best practice to take away and aid our communal quest to safer waters.
“It was also good to see technology innovation featuring heavily in the debate, as it is no secret that we lag behind other sectors in adoption. So, to hear how disruptors are set to drive efficiency and productivity was refreshing.”
A video of the event will be available in full very soon, so please be sure to subscribe to our free daily newsletter for updates on its imminent release.
Construction Wave would like to pay special thanks to events director Cat Ballard, who made this all possible, to 8 Northumberland Avenue for its generous hospitality, and to all the speakers for their support and erudition on the day.
Wave News founder, Andrew Curtin, said: “Our inaugural CFO Summit was a major success. When we sat down to plan this last summer, we felt that the construction industry needed a place where financial executives could come together, learn, and network with each other.
“Our delegates, sponsors, and speakers provided great value to the day, drove discussion, and helped us launch an event that will set standards for others to follow.
“We sold out of sponsorship inventory the week before the event, and we’ve been receiving inquiries from companies looking to book tickets for next year already. This is incredible for an inaugural event.
“This will be Construction Wave’s flagship event every February. We look forward to meeting everyone again next year. Thank you to all involved.”
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