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David Taylor

Managing Director

David Taylor is a Managing Director with Teneo in London, having joined Teneo as part of its purchase of Deloitte’s UK Restructuring business.

David has over 30 years of experience leading international operational restructuring programmes, working in both executive and advisory roles. This has included: managed wind down of banking subsidiaries and branches; pan-European restructure via Cross Border Merger; sale and separation of business units and portfolios; relocation of processing centres; establishment of non-core SPVs and bad banks, and outsourcing.

Prior to joining Deloitte, David held senior operations and strategy positions with several major multi-national businesses based in the UK, France and the USA. With his strong operational background David focuses on ensuring that plans are practical and sustainable.

Over the past 12 years David has focussed on the banking sector and has led the restructure of banks which are either in crisis, need to rapidly address major capital issues or are looking to reduce cost/optimise structure.  This has included the closure of groups, subsidiaries and branches, the set-up of non-core divisions and “bad-banks” and the restructuring to maximise value and/or effectiveness.

 

Selected Project Experience

  • Led the closure of Nordea SA Zurich branch and transfer of good clients to other parts of the group.
  • Led the feasibility and execution of LBG’s exit from Ireland (€33bn retail, commercial and corporate book) via a Cross Border Merger and the set-up of the receiving business unit in the UK.
  • Led the corporate transaction for UBS AG, consolidating 8 subsidiaries into one subsidiary with in-market branches via a Cross Border Merger.
  • Led the wind down of a small specialist UK bank.
  • Led the transfer of good clients from a recently merged subsidiary to its parent and set up the capability within the residual bank to wind down the remaining book for this Swiss Private Bank.
  • Led the wind down planning including stress testing under several wind down/run-off/sale scenarios for this small UK specialist bank.
  • Led the closure of Standard Chartered Private Bank Switzerland.
  • Advisor on the establishment of an SPV to manage  Raiffeisen Hungary’s non-core real estate loans and assets.
  • Led the rapid closure of non-core activities and set up of a smaller unit in the UK to wind down the residual assets for Landsbanki UK branch.
  • Led the assessment of the operational interdependencies for a s.166 report for the UK subsidiary of the European Bank.
  • Led the wind down and closure planning activities for the London Organising Committee for the 2012 Olympic Games. Wind down was achieved with 9 months of the closing ceremony, many years faster than any other Olympic organising committee.

Related Service Areas

Articles by David Taylor

Crypto in Financial Services: Does Crypto Technology Present a Threat or an Opportunity for Financial Services Companies?Crypto in Financial Services: Does Crypto Technology Present a Threat or an Opportunity for Financial Services Companies? We believe that the capabilities presented by the technology underlying crypto, encrypted, immutable, distributed ledgers, will have a profound effect on the financial services industry over the next few years. As this technology, generically called Cryptographic Distributed Ledger Technology (CDLT) and predominantly blockchain, is open to… May 31, 2022
Cryptocurrency Payments: Will Cryptocurrencies Provide Viable Alternate Payment Mechanisms?Cryptocurrency Payments: Will Cryptocurrencies Provide Viable Alternate Payment Mechanisms? Cryptocurrencies are frequently talked about synonymously with payments, but is that correct? Can cryptocurrencies form the basis of viable payments mechanisms? Could they in the future? What forms of payments could they be beneficial for? This is a subject that has no doubt formed the basis of many PhD theses. February 9, 2022
Does China’s Announcement Threaten the Future of Cryptocurrencies?Does China’s Announcement Threaten the Future of Cryptocurrencies? Over the past few years, the Chinese authorities have become increasingly concerned about the rise of cryptocurrencies and have gradually tightened the controls they have in place. Do their concerns have merit? Will other regulators follow their lead? Does this mean that cryptocurrencies are set to die? China has been… November 23, 2021
Brexit – A Counterintuitive Increase In Banks Operating In The UK?Brexit – A Counterintuitive Increase In Banks Operating In The UK? Way back in pre-Covid times all the talk was on Brexit; remember that? At the time, I can’t recollect anyone predicting that Brexit would result in an increase in the number of banks operating in the UK; but it appears that’s what’s happened. I thought I’d look at a few… October 20, 2021
Why are Savvy Financial Services Directors of Stable and Growing Firms Talking About Solvent Wind-Down Plans?Why are Savvy Financial Services Directors of Stable and Growing Firms Talking About Solvent Wind-Down Plans? Ever since the last financial crisis, the PRA and FCA have been tackling the issue of how to avoid the next one. Recovery and Resolution Plans and increases in regulatory capital were the first iteration, which focused on banks. Over the last decade the scope of regulatory interest has expanded… July 8, 2021

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