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David Gard

Senior Managing Director

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

David has over 25 years’ experience helping corporate clients achieve holistic turnaround in their performance, across crisis stabilisation, rapid liquidity solutions including divestment, balance sheet restructuring – including bank, bond, leasing relationships – and driving operational improvement.

Prior to joining the Deloitte restructuring team, David was part of the transformation team at McKinsey & Co, supporting clients seeking a rapid change in operational performance.

David started his career with PwC, where he  spent a number of years with the restructuring team, before leaving for executive roles in industry, including as Strategy and Commercial Director at BAA, the owner of many UK airports including Heathrow, and Chief Investments Officer at Laing O’Rourke, a leading privately owned international construction group headquartered in the UK.

With a combination of advisory and executive leadership background, David has a combination of deep skills and situational experience to support stressed corporate clients regain their financial equilibrium following periods of uncertainty.

David is a qualified chartered accountant.

With significant projects involved with a number of industries, David has particular experience and insight across Financial Services, Oil & Gas, Energy and Mining, Aviation, Infrastructure and Construction.


Selected Project Experience

  • African Bank (South Africa) – Led the rescue, restructuring and relaunch of this systemically important bank in South Africa, including the restructuring of ZAR60 billion of listed debt in a complex regulatory and stakeholder environment. (IfT listed company restructuring prize winner).
  • Co-op Bank (UK) – Advisor to the bank in the separation of £16 bn non-core assets to optimize realization, and seconded to lead the non-core group in realizing value from non-core assets, including property and infrastructure holdings through bi-lateral and syndicated structures.
  • Enron Europe (UK) – Led the European power and gas trading group of this business following insolvency, managing the realization of value from the complex trading structures held at Enron.
  • BAA Heathrow (UK), Executive role – Strategy and Commercial Director for Heathrow Airport, including development and implementation of approaches to grow revenue from a £1.6 bn base.
  • Drax Power (UK) – Advisor to the senior lenders in the £1.6bn IfT award winning restructuring of the largest coal fired power station in Europe.
  • Ashanti Goldfields (UK & Ghana) – Advisor to the senior lenders and hedge banks in the successful restructuring of the RCF and hedging structures of this gold mining group.
  • Eskom/National Treasury (South Africa) – Supported the National Treasury team in development of approaches to resolve the over indebtedness of Eskom, the state utility company, which has over R600bn in debt.
  • Stobart Plc (UK) – Advisor to this UK listed aviation, airport and infrastructure business around Covid-19 related challenges, including debt restructuring, transactions strategic support and business performance improvement.
  • Project Birch (UK) – Support to the UK Government around support options for strategic UK businesses seeking government financial support to support Covid-19 response.
  • PPC (Greece) – Support to this state owned power group in cash & risk management.

Articles by David Gard