Founder Tim Byles moves to Deputy Chairman role at the innovative social investment company
Cornerstone announced Fiona McDermott as its new Chief Executive on Thursday 15th March 2018. Ms McDermott was a Partner at KPMG, where she worked from 2002 until 2016. She will take up her post on 19th March, with the founding CEO Tim Byles moving to the role of Deputy Chairman.
Ms McDermott is an extremely experienced advisor, having worked with a range of clients including FTSE 100, mid-market, public sector and privately owned organisations, specialising in assisting CFOs and CEOs to assess and quantify the impact of strategies and transactions. She has experience across a range of sectors, including NHS, MoJ, real estate, construction, oil & gas, leisure and entertainment.
Tim Byles, outgoing CEO and Deputy Chairman said:
“We are absolutely delighted to have appointed someone of Fiona’s calibre and experience. She has an impressive track record advising senior teams in companies of all sizes, and across a wide range of sectors. Cornerstone has an exciting period ahead, with a full portfolio of advisory work and a healthy pipeline of development opportunities, with a focus on housing in particular.
“At a personal level, having established Cornerstone in 2011 as an innovative social investment company, it is a pleasure to be passing on the baton to Fiona as the organisation moves into its next phase of development.”
Fiona McDermott said:
“I am delighted to be joining such an energetic business which is ripe to be taken to the next level. I’m really looking forward to working with the team and our clients to create sustainable social infrastructure.”
Cornerstone’s current programmes of work include: a £90m re- development and expansion of Broxbourne School and creation of 150 new homes in Hertfordshire; a £37m schools and 146-unit housing development in Suffolk, and a 500 unit housing scheme, alongside a redeveloped school and 6th form college in Nottinghamshire.