Audley Retirement Welcomes New CFO
AUDLEY RETIREMENT WELCOMES NEW CFO
Audley Retirement Villages, the luxury retirement village operator, has welcomed Daniel Morgan as its new Chief Financial Officer.
Mr Morgan, a chartered accountant who trained at Ernst & Young, joined Audley on April 11th. Before joining Audley Daniel spent 5 years with the Private Equity firm Advent International and was responsible for establishing and heading up the company’s office in Istanbul. Prior to this he spent two years as a Director of Kaupthing Bank's Principal Investment team within the bank's specialist private equity division, and nine years with 3i in London and Stockholm in venture capital, growth and buyout positions.
Audley Retirement is growing significantly and has an ambitious development plan in operation to take its annual turnover from £16million in 2012 to £35million this year. Mr Morgan will have overall control and responsibility of the accounting and finance function including investor relations, managing a team of 7.
Nick Sanderson, CEO Audley Retirement Villages, said: “I’m delighted to welcome Daniel to Audley. Daniel has achieved a tremendous amount of success and has a wealth of experience in the finance world from accountancy through to private equity. He will be able to draw on this experience and knowledge as we move forward with our ambitious business plans.
He continued: “2013 is set to be an important year for Audley as we see our proposition embraced across the UK, with nine villages in various stages of development and a further two on the horizon. As we see the older demographic continue to grow we get an impression of the scale of what our brand and business model could achieve. Looking at the international market we can see that market penetration in the UK is less than 0.5%, but stands at 14% in the US and 8% in Australia. This represents less than 15,000 units in the UK as opposed to 160,000 in Australia. Given the sizes of the respective populations, these figures suggest that the UK can sustain nearly half a million units. Whichever way you look at it that is a significant market and a tremendous opportunity for investors and industry alike.”