Praxis announces new senior finance appointments

Independent professional services firm Praxis has announced the appointments of Colin Smith as its new Chief Financial Officer (CFO) and Mark Sinclair as Strategic Financial Adviser.

Colin and Mark have worked together for almost 20 years as the finance executives for the formerly London Stock Exchange listed international property business, Raven Property Group (RPG). Both Chartered Accountants with extensive financial leadership experience, they are well-placed to guide Praxis through the next phase of its growth.

Colin’s career includes key roles such as an executive director and Principal of BDO Guernsey, within the audit and assurance division, as well as his role as Chief Operating Officer of RPG. Mark was previously an audit partner in BDO’s London office before taking on the role of CFO at RPG. The pair were also founding shareholders of independent fund and fiduciary administration firm Belasko.

Colin succeeds Richard Morris, who served as CFO since 2020 and played a crucial role in navigating Praxis through a period of significant change.

Praxis Group CEO, Robert Fearis, said: ‘On behalf of the Praxis Group Board, I would like to thank Richard for his invaluable contribution, and wish him every success in the next chapter of his career.

‘The appointment of Colin and Mark comes at a pivotal moment for Praxis as we focus on sustainable growth and innovation, and their combined experience and expertise will help steer the Group through this exciting phase of our development.

Commenting on the appointments, Colin said: ‘We are delighted to join Praxis and work alongside its talented team to build on the strong foundation already in place. We look forward to driving strategic initiatives and delivering exceptional value for stakeholders.’

Praxis is reaching the final phase of a multi-year transformation programme that it committed to in 2021 centred on reshaping the business for onward organic and strategic growth.

In its December trading update, the Group reported that revenue for the nine months to 30 September was up 7.7% vs. 2023 with a gross profit margin of 63.0% and a 15.1% rise in new business wins.

It recently extended the range of services it offers in the Middle East through the acquisition of Dubai-based corporate services provider Sandshore Services Limited, which completed on 9 January.