The CFO Playbook

In this episode of The CFO Playbook, David McClelland is joined by Mark Freedman to explore the changing landscape of finance leadership, from crash to AI and beyond.

Mark started his career at Deutsche Bank before moving onto London Stock Exchange Group. Over three decades in the finance sector, he’s proved himself to be a transformational force ready to face down the challenges of a digital finance age.

Now in post as CFO of global money brand Travelex, Mark has been instrumental in making strategic decisions, providing steadfast resilience through a challenging era, following a much publicised cyber incident at the start of 2020.

Despite the negative headlines, Mark's tenure has embraced opportunities for growth. Empathising the strength of Travelex's brand and its extensive physical distribution network as key assets, Mark has faced questions about the relevance of “travel money” head on.

Highlighting the evergreen resilience of cash and the growth potential of digital cards, his current role has pivoted Mark from scorekeeper to decision-maker, with a deep understanding of business - using effective communication, and staying up-to-date with technology.

About Soldo:

Soldo provides company cards connected to a powerful management platform. Employees use Soldo cards to buy what they need for work without being out of pocket or going over budget. Finance teams use Soldo to distribute money instantly, while staying in control of who spends, how much, where, and on what.

Thousands of businesses, from small to large corporations including Mercedes-Benz, Sony, and Get Your Guide use Soldo to make their business spending simple and efficient.

To find out more or to book a demo, visit Soldo.

Chapters:

0:05:07 - Career Transition Reflections and Growth

0:09:03 - Career Progression in Banking Industry

0:15:04 - Era of Financial Innovation

0:18:25 - Finance Transformation Opportunity

0:22:52 - Business Journey Through Turbulent Times

0:34:25 - Future of Travel Money Changes

0:42:24 - Evolution of the CFO Role

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In this episode we look beyond the UK with guest Huiming Chen discussing the challenges and opportunities of leading finance teams across diverse geographies and cultures with host David McClelland.

In her current role as Europe Commercial CFO at Illumina, Huming shares her expertise on acknowledging and bridging cultural differences, fostering open communication, and balancing structural preferences to enhance team performance. Hear her secret to effectively navigating cultural nuances and improve collaboration within a global finance team.

Gain a deeper understanding of the intricacies of feedback and communication styles in multicultural environments through Huiming’s personal journey from China to the US. We also explore the stark contrasts between Eastern and Western feedback approaches and the critical importance of timely, constructive feedback. Hear how small talk, such as the British habit of discussing the weather, plays a significant role in building professional relationships and how to adapt communication styles to fit different cultural contexts.

Huiming also provides insight on the future of finance and the evolving role of CFOs in the face of technological advancements. Emphasising the essential traits of successful CFOs and the importance of creating environments where diversity and innovation thrive, Huiming shares strategies to empower finance teams for innovation, balance operational and strategic responsibilities, and leverage AI technology for informed decision-making, ensuring effective global leadership and cultural adaptation in the workplace

Huiming will be judging the Global CFO 100 Awards 2024 by Soldo in partnership with HotTopics. This new award honours CFO’s who are driving transformative financial strategies and innovative business practices, shaping the future of finance. Entries close on 31st August 2024, for more information visit https://hottopics.ht/global-cfo-100-awards-nominations. 

Chapters:

(0:00:00) - Global Cultural Challenges in Finance Leadership

(0:10:42) - Cultural Feedback and Relationship Building

(0:14:41) - Embracing Diversity in Leadership Roles

(0:22:38) - Future Traits of Successful CFOs

(0:33:53) - Empowering Future Finance Through Technology

About Soldo:

Soldo provides company cards connected to a powerful management platform. Employees use Soldo cards to buy what they need for work without being out of pocket or going over budget. Finance teams use Soldo to distribute money instantly, while staying in control of who spends, how much, where, and on what.

Thousands of businesses, from small to large corporations including Mercedes-Benz, Sony, and Get Your Guide use Soldo to make their business spending simple and efficient.

To find out more or to book a demo, visit Soldo.

Learn more about your ad choices. Visit megaphone.fm/adchoices

What do a retail powerhouse, a manufacturing giant, and a financial services titan have in common? According to our guest Helen Ashton, it’s the universal value of cross-sector experience. In conversation with David McClelland, Helen shares her fascinating journey through multiple industries, emphasising how diverse roles have armed her with unique insights and essential relationship-building skills.

A finance leader with over 30 years of dynamic experience, Helen's expertise is a masterclass on leveraging core finance skills to adapt and thrive in new environments. She shares the common challenges finance leaders encounter and the strategic importance of honing influencing skills to drive business success. From spearheading technological innovations to nurturing a young, diverse team, Helen’s time as CFO at online fashion giant ASOS is a testament to truly visionary leadership.

This episode also explores how innovative hiring practices and open-minded recruitment can enhance finance teams, fostering a rich pool of future talent ready to take on CFO roles in the future. Candidly reflecting on the slow progress made in diversity and inclusion in senior finance roles and her own vision for the future of finance - transformed by data automation and strategic involvement - paint a compelling picture of a field ripe for rebranding. This episode is brimming with insights on the evolving landscape of finance leadership, championed by a true industry veteran.

Helen will be judging the Global CFO 100 Awards 2024 by Soldo in partnership with HotTopics. This new award honours CFO’s who are driving transformative financial strategies and innovative business practices, shaping the future of finance. Entries close on 31st August 2024, for more information visit https://hottopics.ht/global-cfo-100-awards-nominations. 

Helen founded Shape Beyond after 25 years of transforming complex, high-growth organisations. She’s worked at Executive Board level and led private equity portfolio businesses to successful exit. Shape Beyond’s deep knowledge of the retail industry is fuelled by Helen’s time as the CFO of ASOS and board member of JD Sports. We embrace digital transformation and agile, diverse cultures.

Chapters:

0:03:23 - Career Growth Through Industry Diversity

0:12:04 - Finance Leader

0:18:50 - Innovation in Fashion Retail CFO Role

0:22:48 - Leveraging Data for Customer Service Improvement

0:27:03 - Fast-Paced, Customer-Centric Executive Dynamics

0:30:52 - Youthful Talent Surprises in Finance

0:33:17 - ASOS Brand Mission for 20-Somethings

0:37:22 - Diversity, Inclusion, and Authenticity in Leadership

0:43:43 - Criteria for Selecting Future CFOs

About Soldo:

Soldo provides company cards connected to a powerful management platform. Employees use Soldo cards to buy what they need for work without being out of pocket or going over budget. Finance teams use Soldo to distribute money instantly, while staying in control of who spends, how much, where, and on what.

Thousands of businesses, from small to large corporations including Mercedes-Benz, Sony, and Get Your Guide use Soldo to make their business spending simple and efficient.

To find out more or to book a demo, visit Soldo.

Learn more about your ad choices. Visit megaphone.fm/adchoices

In May’s episode of The CFO Playbook, David McClelland talks to Mehjabeen Patrick, Director of Finance at Arts University Bournemouth, about the challenges and opportunities of finance leadership in the creative sector.

As former Chief Finance and Investment Officer at Creative UK, Mehjabeen is all too aware of the financial challenges faced by creative businesses. From her early days working in the banking sector, Mehjabeen is a passionate advocate of finding creative approaches in all aspects of finance. From distributing government grants to providing business mentoring, she highlights the need for finance leaders to actively listen to and learn from creatives, to drive both artistic and economic growth.

Drawing from over 20 years of experience in the sector, Mehjabeen shares the importance of thinking outside the box. Hear how she thinks finance leaders should embrace creative approaches while managing budgets, by bringing design thinking into their day to day work. This episode also explores the impact of technology and digital innovation to engage diverse audiences by telling finance stories in new ways.

Chapters:

(0:02:56) - Finance Leadership in the Creative Sector

(0:16:20) - Finance and Creativity in the Arts

(0:24:11) - The Impact of Technology on Creativity

(0:36:14) - Thinking Outside the Box in Finance

Entries for the Global CFO 100 Awards in partnership with HotTopics are now open - https://hottopics.ht/global-cfo-100-awards-nominations. Entries close 31st August 2024.

About Soldo:

Soldo provides company cards connected to a powerful management platform. Employees use Soldo cards to buy what they need for work without being out of pocket or going over budget. Finance teams use Soldo to distribute money instantly, while staying in control of who spends, how much, where, and on what.

Thousands of businesses, from small to large corporations including Mercedes-Benz, Sony, and Get Your Guide use Soldo to make their business spending simple and efficient.

To find out more or to book a demo, visit Soldo.

Learn more about your ad choices. Visit megaphone.fm/adchoices

In the latest episode of The CFO Playbook, David McClelland is joined by Giles Andrews OBE, co-founder of Zopa, the world’s first P2P lending business launched in 2004, to discuss two decades working in FinTech and the role of artificial intelligence in shaping the financial services of the future.

Finding himself as an accidental CFO in the early days of Zopa thanks to an accountancy qualification, Giles progressed to CEO and Chairman and is still an active Board Member, responsible for in excess of £4bn in loans in the UK, and revolutionising the way we look at banking.

Reflecting on the economic storms faced globally over the past few years, Giles offers an insider's perspective on the 2008 financial crisis, revealing how it inadvertently fuelled Zopa's growth by transforming the lending landscape. Now managing a diverse portfolio, from the intricacies of Zopa's operations to Chair of online automotive marketplace CarWow, Giles is all too familiar with the challenges faced against a backdrop of evolving consumer behaviour and digital upheaval.

In a world now captivated by artificial intelligence, he shares his thoughts on the positives in work efficiency and improved user experience in customer service, but expresses concerns about ethics and governance, especially in financial services. Balancing innovation and regulation, Giles highlights the importance of ethical leadership and community spirit to ensure a prosperous ecosystem for businesses of all sizes, whilst embracing advancements in technology.

Chapters -

(0:00:00) - Financial Leadership and Innovation

(0:12:21) - Navigating Financial Crisis and Growth

(0:19:25) - Recent Financial Sector Collapses and Innovation

(0:24:08) - Innovation in Banking and AI

(0:36:06) - Ethics and Privacy in AI Governance

(0:41:54) - Issue of Financial Engineering in Business

Entries for the Global CFO 100 Awards in partnership with HotTopics are now open - https://hottopics.ht/global-cfo-100-awards-nominations. Entries close 31st August 2024.

About Soldo:

Soldo provides company cards connected to a powerful management platform. Employees use Soldo cards to buy what they need for work without being out of pocket or going over budget. Finance teams use Soldo to distribute money instantly, while staying in control of who spends, how much, where, and on what.

Thousands of businesses, from small to large corporations including Mercedes-Benz, Sony, and Get Your Guide use Soldo to make their business spending simple and efficient.

To find out more or to book a demo, visit Soldo.

Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode of The CFO Playbook, David McClelland explores how financial management should be embedded into company culture with Richard Dana, co-founder and CEO at Tembo Money.

With a background in corporate finance, Richard shares how he leveraged his interest in travel to co-found the budget-boutique hotel booking platform Doris and Dickie, and the lessons learned from being thrifty in balancing the books from day one with a small team, managing by cost.

Reflecting on his role as CFO at Founders Factory, a unique platform matching leading corporate brands with industry expertise with innovative start-ups to solve specific pain points within their sector. Richard affirms his mantra that founders should focus on being thrifty and making every pound work hard, whilst having a path to profitability and a clear understanding of the financials.

Now on a mission to address the housing affordability crisis, Richard co-founded family lending platform Tembo Money, with the aim of closing the generational wealth gap by broadening access to homeownership. With no CFO currently in place, the focus since its launch in 2020 has been on becoming profitable with a lean team and outsourced accountancy. Richard highlights that despite the crossovers between the CFO and CEO roles, there is a much greater focus on "selling the business" as a CEO, whilst keeping an eye on the money during the early days of growing a new business.

Finally, against the backdrop of the current economic landscape, Richard gives his view on starting a business in a recession; although it's challenging, partnering with established companies and focusing on a product with a real customer need can help mitigate risks. Extending cash runway is crucial for startups, and involves monitoring cash flow, cutting costs, and exploring non-investment funding options.

Chapters -

(0:00:01) - Inside the World of Finance Leaders

(0:13:29) - Building a Finance Startup

(0:22:45) - Funding and Recruitment for Startups

(0:33:57) - Startup Strategies and Acquisition Considerations

(0:43:39) - Liberating Finance for Families

Entries for the Global CFO 100 Awards in partnership with HotTopics are now open - https://hottopics.ht/global-cfo-100-awards-nominations. Entries close 31st August 2024.

About Soldo:

Soldo provides company cards connected to a powerful management platform. Employees use Soldo cards to buy what they need for work without being out of pocket or going over budget. Finance teams use Soldo to distribute money instantly, while staying in control of who spends, how much, where, and on what.

Thousands of businesses, from small to large corporations including Mercedes-Benz, Sony, and Get Your Guide use Soldo to make their business spending simple and efficient.

To find out more or to book a demo, visit Soldo.

Learn more about your ad choices. Visit megaphone.fm/adchoices

With growth at the heart of the recent Spring Budget, how can companies fuel productivity and accomplish more? On March 13th, 2024, business and economics experts met at the London Stock Exchange to decode the Chancellor’s Spring Budget at an event hosted by Soldo.

This live episode of The CFO Playbook is hosted by David McClelland and features an expert panel -

David Owen, Chief Economist, Saltmarsh Economics 

Liz Earle MBE of Liz Earle Wellbeing

Emma Heal, MD at Lucky Saint

Carlo Gualandri, CEO of Soldo

Chapters -

(00:00) - Productivity and Growth Challenges in the UK

(11:54) - Economic Growth and Productivity Opportunities

(21:58) - CFO-CEO Partnership for Business Success

(30:33) - Impacts of AI on Business Operations

(39:40) - AI Technology and Future Industry Trends

(53:41) - Summary of Support in the Spring Budget

Entries for the Global CFO 100 Awards in partnership with HotTopics are now open - https://hottopics.ht/global-cfo-100-awards-nominations. Entries close 31st August 2024.

About Soldo:

Soldo provides company cards connected to a powerful management platform. Employees use Soldo cards to buy what they need for work without being out of pocket or going over budget. Finance teams use Soldo to distribute money instantly, while staying in control of who spends, how much, where, and on what.

Thousands of businesses, from small to large corporations including Mercedes-Benz, Sony, and Get Your Guide use Soldo to make their business spending simple and efficient.

To find out more or to book a demo, visit Soldo.

Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome to a new series of The CFO Playbook, brought to you by Soldo.

In this episode, our new host, technology reporter, presenter and consumer champion, David McClelland talks to Baron Anyangwe, a finance leader, about his journey and insights into leadership.

They discuss the importance of flexibility and passion in career choices, the impact of volunteering, and Baron’s own holistic leadership framework. The framework includes principles such as widening perspectives, finding meaningful work, focusing on strengths, and setting milestones for progress.

Baron emphasises the importance of markers and milestones in guiding progress and decision-making, including the 6 Ps of success: Purpose, Principles, Priorities, Progress, Play, and People Skills. The episode also explores the value of playfulness in fostering creativity and innovation, whilst retaining the need for experimentation and adaptability in finance leadership.

This episode also delves into the rise of B Corp businesses and the challenges and opportunities they present for sustainability, reflecting on the concept of liberating finance and the role of finance leaders in driving positive change.

Chapters -

(0:00:01) - Leadership Framework

(0:11:12) - Protect the Magic, Ditch the Rest

(0:18:29) - Play, People Skills in Finance

(0:27:31) - Balancing Long-Term Sustainability in Business

(0:39:13) - Evolving Finance for Sustainable Business

Entries for the Global CFO 100 Awards in partnership with HotTopics are now open - https://hottopics.ht/global-cfo-100-awards-nominations. Entries close 31st August 2024.

About Soldo:

Soldo provides company cards connected to a powerful management platform. Employees use Soldo cards to buy what they need for work without being out of pocket or going over budget. Finance teams use Soldo to distribute money instantly, while staying in control of who spends, how much, where, and on what.

Thousands of businesses, from small to large corporations including Mercedes-Benz, Sony, and Get Your Guide use Soldo to make their business spending simple and efficient.

To find out more or to book a demo, visit Soldo.

Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode of the CFO Playbook features an interview with Ed Lu, Chief Financial Officer at Fandom, a San Francisco-based gaming and entertainment community platform.

Ed is a gaming and media tech executive with deep finance, strategy and operational experiences focused on VC and PE-backed Gaming and B2C companies. He holds a Master’s in Management Science and Engineering from Stanford University, and a Bachelor’s in Economics from UC Berkeley.

In this episode, Ed talks about the explosive growth of the gaming industry over the course of the pandemic, the impact that generative AI will have on game development, and the ups and downs of the financial investment side of the sector.

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Guest Quotes:

“A lot of these [gaming] companies have had to somewhat bootstrap themselves, right? Or like, on a shoestring budget, get something out, show the metrics that the VCs will understand, ‘Oh, okay, I get it. Here's the D1, here's the D3, D7, D28, here's the monetization, here's the ARPU, whatnot. I can now project it out further.’ But they're not getting funding prior, right? And so they've been coming into the game a little later, like sort of post traction.” - Ed Lu

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Topics:

01:34 Ed’s background

06:53 The evolution of monetization in online gaming 

15:44 Trials and tribulations of game development

20:21 Investment in the gaming sector

30:03 Downsides of VC investing

40:12 Managing employee retention as a CFO

49:24 Reflecting on his career

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Sponsor:

This show is brought to you by Soldo, the brighter way to manage business spending and expenses. With Soldo, you can control every expense, track spend in real time, automate financial reporting, and then use those insights to fuel growth. Learn more at Soldo.com

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Links:

Connect with Ed on LinkedIn

Connect with Fran on LinkedIn

The CFO Playbook Listener Survey

Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode of the CFO Playbook features an interview with Bill Fahrbach, Chief Financial Officer at Facet, offering impartial and invaluable financial advice and services at an affordable membership fee.

Bill is a strategic Financial Executive and Entrepreneurial CFO/COO with an extensive investment banking background and rounded technology operational experience. With a track record of significant growth, capital raises, and exits, he’s a leader in finance, operations, systems, and legal capacities.

In this episode, Bill talks about the changing dynamics between CFO and CEO, the importance of a healthy work-life balance, and how a primarily remote-first culture affects the pathway to becoming a CFO.

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Guest Quotes:

“I think what has changed is, if you think about the CFO role, it's really critically important that you get the right information out to the organization. So, the organization wants to understand how we are doing as a business, and it's not as simple as sort of just saying like, look, here are the numbers, right? There's a lot of color, there's a lot of context. So I would say as CFO, it's been challenging. It's actually pushed probably the limits in terms of like how do you communicate effectively with the employee base, whereas when you're in the office in a physical office, it's more natural, I guess you could say, and more seamless to sort of be having routine discussions with, employees across the board and articulating, you know, the good, the bad, and everything in between and getting that message across. In a virtual environment, what I've found is that the struggle is always finding that balance of how do I get the right message out in the right forums. And not create, let's say, like a drain of unnecessary meetings that people get bored in, right? So, it's finding that balance, you know, articulating the right information, but also giving the right context in a way that employees will be engaged. I'd say that was, that's been the biggest challenge.” - Bill Fahrbach

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Topics:

00:38 Bill’s role and adjusting to remote work

03:49 How a remote first culture affects the pathway to CFO

07:51 Educational background

13:19 Dynamics between CFO and CEO

17:53 Facilitating company acquisitions

21:47 Work life balance

24:23 About Facet and IPO

29:18 Best decision he’s ever made

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Sponsor:

This show is brought to you by Soldo, the brighter way to manage business spending and expenses. With Soldo, you can control every expense, track spend in real time, automate financial reporting, and then use those insights to fuel growth. Learn more at Soldo.com

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Links:

Connect with Bill on LinkedIn

Connect with Fran on LinkedIn

The CFO Playbook Listener Survey

Learn more about your ad choices. Visit megaphone.fm/adchoices