Tag: BDO Binder Hamlyn Management Consultants

Þe Chronique Of Primordyall Z/Yen: Þe Third Part: Windes Blast & Weder, Autumn 1994

Having planned to flee BDO Binder Hamlyn and its management consultancy when it was announced that Arthur Andersen would be taking it over…

Þe Chronique Of Primordyall Z/Yen: Þe First Part – Sumer Is Icomen In, Spring 1994

…and then having fled and started establishing Z/Yen…

Þe Chronique Of Primordyall Z/Yen: Þe Second Part: Mirie It Is While Sumer Ilast, Summer 1994

… there were times when I thought the business wouldn’t be ready to start trading on 1 October 1994. But of course we were able to open our sole door, to our sole room in Garrard House, 31-45 Gresham Street, on that prescribed day. No death in a ditch for me.

Click and look at the images for that address and you will see a grand City building, opposite Wax Chandler’s Hall, which at the time of writing has been home to Schroders plc for decades.

In the autumn of 1994, though, it was an old 1930’s building, in a state of some distress, which was about to be emptied for the purposes of a massive makeover for Schroders.

Nice address.

Mercifully, no pictures seem to survive on-line of the old Garrard House, nor of the single, pokey room that was, for about nine months, in 1994/1995, Z/Yen. Here and below is a link to a wonderful blog piece about the history of Gresham Street with some good photos which, again mercifully, miss out the 1930s to 1990s Garrard House:

Gresham Street And St. Lawrence Jewry

There were just five of us on the payroll that first autumn; Kate Carty, me, Stuart Otter, Steve Taylor and John Thompson. Michael Mainelli was with us, in spirit and informally, but technically Michael was unable to join the firm until February 1995.

Kate Carty got something akin to cabin fever in those early months, as so few of us went nigh nor by the place. Yet somehow Kate and Steve got it together during that early period of Z/Yen’s life, such that our tiny business of just six people; the other four of whom were attached, managed to yield an office romance and then marriage which, like Z/Yen, has endured to this day (as I write 25 years later).

Kate (standing) with Elisabeth and Michael
Steve

One abiding memory from that room is the day in early December when we needed to splurge on getting our first year’s Christmas cards out. We thought this to be a very important marketing campaign…

…in truth the Christmas cards was our only marketing campaign for the first year or so of our existence.

A rare occasion when several of us were in the room at the same time; me, Kate and John Thompson.

In the early days of a business, everyone needs to muck in for all tasks, including stuffing envelopes and labelling up Christmas cards…

…but John Thompson seemed a little reluctant for such menial tasks.

I said:

I must be the highest paid envelope-stuffer in the City right now.

John, a competitive fellow who was being paid considerably more than me at that time, immediately jumped up and exclaimed,

No, I am the highest paid envelope-stuffer in the City.

I was delighted to let JT win that debate.

Þe Chronique Of Primordyall Z/Yen: Þe Second Part: Mirie It Is While Sumer Ilast, Summer 1994

I left BDO at the beginning of August with a view to most of the others joining at the start of October 1994. Michael was not permitted to join until early 1995. So for seven or eight weeks, I was technically on my own, setting up Z/Yen.

In Hitchhikers Guide To The Galaxy, there is a story about Golgafrinchans, a race of humanoid beings on another planet, who were the true ancestors of humanity. The Golgafrinchans divided their society into three distinct groups; thinkers, doers and middle-folk, the latter group of which were deemed useless and so were launched off into space, purportedly to be the advance party for a relocation of the entire society, but in reality to enable the thinkers and doers to stay put and thrive on their own planet.

Now I like to think of myself as part thinker, part doer, but there were times during that late summer when I wondered whether I has been launched as a Golgafrinchan-style advance party.

Not that I was entirely on my own. My diary shows an evening session with Michael on 9 August, which resulted in a massive “to do” list for establishing Z/Yen, “Z/Yen Notes”, available for inspection here.

In addition to the tasks on that list, I wrote an initial business plan, also available for inspection here. I also finished off several client assignments on an associate basis after leaving the old firm. My diary for those weeks looks ridiculous – it was a ludicrously busy time.

Example of a ludicrously busy week

It was hard to get businesses started in those days. It was impossible to find premises without 12 months or more trading record, but how were we supposed to get a trading record without space. Thank you, Nick Pickering of Rochester Partnership for helping us with space for that early part of Z/Yen’s life.

It was a similar “Catch 22” with start-up business finance in those days. Michael, Elisabeth, Janie and I took Z/Yen’s initial business plan to the South of France late August – we had to pitch it to our prospective external investors at Eli Wallitt’s villa in Saint-Cézaire-sur-Siagne, near Grasse.

Grasse rooftops

We all stayed in Nice at the Hotel Windsor. My financial records show that we ate one night at Le Farniente, which is still there 25 years later. We also ate at a place named Au Bistroquet which is harder to track down now.

I especially recall the convoy drive up to Saint-Cézaire; Michael and Janie had very different ideas on driving speeds on unfamiliar mountain roads in little hired cars from Avis; I expect it looked like a latter-day version of the car chase scenes in Monte Carlo or Bust!

OK, in truth these photos are of my parents’ visit to that same Provence-Alpes-Côte d’Azur part, in 1958.

That initial financing arrangement did not end at all well, but that debacle came later – part of Z/Yen’s Book of Exodus – whereas this promordyall chronique is Z/Yen’s book of Genesis.

I did still find time for writing some silly stuff. There was a leaving do for several people on 30 August at Corney and Barrow. In fact, I think, technically, that was my leaving do as well. I’d had an informal, smaller gathering of friends at the same venue on 12 August at my own expense, but I think the 30 August thing was laid on by the firm. I produced a handout for the evening, which I think went down well.

The Secret Diary Of Adrian Burn Aged 49 3/4, A Spoof Produced For A BDO Consulting Multiple Leaving Do, 30 August 1994

I do also recall around that time some farcical conversations with the Companies House people, who struggled to register our little group of companies because different departments, that didn’t speak with each other, dealt with holding companies and subsidiary companies. The holding companies got bounced because they didn’t have subsidiaries, while the subsidiaries got registered to (at the time) non-existent holding companies. Technically speaking, this might mean that Z/Yen has never has existed at all; an intriguing thought.

Mark Lewis was a Welsh gentleman at Companies House, not my old friend Mark Lewis, latterly a famous media lawyer.
Another typical, ludicrous example of my activities in a single week

At several points, I thought the business wouldn’t be ready to start trading on 1 October 1994, but of course we were able to open our doors (or I should say one door, for one room in Gresham Street) that day.

The Secret Diary Of Adrian Burn Aged 49 3/4, A Spoof Produced For A BDO Consulting Multiple Leaving Do, 30 August 1994

I wrote the quoted pieces below for sharing at a leaving do for several BDO Consulting folk who were leaving BDO Binder Hamlyn, including me, although i had technically left the firm at the beginning of that month.

The background to this spoof of The Secret Diary Of Adrian Mole might be gleaned from the first part of The Z/Yen Story – click here or below:

Þe Chronique Of Primordyall Z/Yen: Þe First Part – Sumer Is Icomen In, Spring 1994

In short, my firm, BDO Binder Hamlyn, was to be taken over by Arthur Andersen. I didn’t think the latter firm would appreciate my hair style.

Adrian Burn was the Managing Partner of BDO Binder Hamlyn. The character Pandoreuss is Elisabeth Reuss, now Elisabeth Mainelli, who was Adrian’s personal assistant.

Enough background:

THE SECRET DIARY OF ADRIAN BURN AGED 49 3/4 by SUSAN TOWNSLEY-WHITT
 

Tuesday 22 March 1994 
 
I received a visit from a Mr Waddia, a most helpful gentleman from another leading firm of accountants like mine, except his firm is named Arthur Andersen. Mr Waddia is the most important man in Arthur Andersen and he said that he would pay a lot of money for a merger with Binder Hamlyn. He would give several Binder Hamlyn partners (including me!) equity in the merged firm and everyone would be happy. It sounded almost too good to be true, but I asked my friends James, David and John and they all said it sounded simply super and we should go for it. It’s a deal! Hurrah!
 
Monday 28 March 1994 
 
I’m not very pleased today. The Sunday Times has spilled the beans on my splendid deal and lots of my junior partners have quite clearly failed to understand the benefits of the arrangement. I found some of their comments most unhelpful. I had to spend the whole day going round 20 Old Bailey explaining to all those junior partners and their staff oiks that the Andersen’s thing would be good for everybody and no-one would get fired (except for all the people that Mr Waddia told me I would have had to fire anyway). I am now in a foul mood and shall go off and investigate a bit of Queens Moat tomorrow to make myself feel better.
 
Wednesday 30 March 1994 
 
One of my less astute junior partners who is not really my friend, William Casey, turned up in my office today. He had a sun tan and said he had been in Africa on consultancy business (I think that is what he does) until today and had only just got the news. He said that Andersens wouldn’t want a consultancy practice because they already have a big one and what was I going to do about it. I explained the bit about no-one getting fired and several partners getting equity in Andersen’s and he went away looking much happier. I asked my adorable secretary, Pandoreuss, what she thought of it all and she just said “Dumkopf”. I asked my friend Richard what this means and he said it is a compliment a German person gives to you when they think you have done a clever thing. Oh Pandoreuss! I really didn’t know you cared!
 
Monday 22 April 1994
 
I’m a bit miffed today. Mr Waddia says that he will have to pay millions of pounds to BDO so that he can buy Binder Hamlyn. “I hope you’re not expecting much cash or many equity partners, Adam, or else your going to be disappointed”, he said, “and you’d better get rid of a heap of your dead wood partners and managers PDQ”. I didn’t find those comments particularly helpful. I went off to close down a bit more of Queens Moat which took my mind off and made me feel a bit better.
 
Thursday 26 May 1994 
 
Not a very good day. Mr Waddia has spoken to Mr Hall and apparently only two Binder Hamlyn partners will be allowed equity in Arthur Andersen. Fortunately one of them is me (hurrah) and the other is my friend James. Mr Hall has also told Mr Waddia that by the time they have paid BDO to let Binder Hamlyn out, Arthur Andersen can only afford £2.54 for Binder Hamlyn. “I thought you were the most important man in Arthur Andersen, Mr Waddia”, I said. “I am”, he replied, “in Arthur Andersen UK. Mr Hall is the most important man in Andersen Consulting UK. He is a more most important man than I am”. I think I understand. I told Pandoreuss and she just said “du bist ein schtick fleisch” which my friend Richard tells me means that I am a first class negotiator. Oh Pandoreuss! One day you will be mine!
 
Wednesday 10 August 1994 
 
I am not very pleased. Mr Waddia tells me that Mr Burgess has told him that my consultancy cannot call itself a consultancy because only his (Mr Burgess’s) consultancy is allowed to do that. “I thought Mr Hall was the most important man in Andersens”, I said. “He is”, replied Mr Waddia, “in Andersen Consulting UK. Mr Burgess is the most important man in Andersen Consulting Worldwide. Mr Burgess is a more most important man than Mr Hall”. These people really ought to sort themselves out! William (who is not really my friend) went up the wall when I told him. I said that he could revive the incredibly successful former name, Binder Hamlyn Small Fry and he went away seeming happy. These consultancy (sorry, small fry) types just need a few kind words and they are all motivated, networking and selling work like crazy. William must have done a great job after he saw me today, because three strangers called me asking me to give personal references for William. Pandoreuss told me that William “ist ein schlemiel”, which apparently means good salesman. I went off and investigated a bit more of Queens Moat.
 
Tuesday 30 August 1994 
 
I decided to stand up to Mr Waddia. I told him that I was not happy about having to sack 10 of my equity partners and a whole group of managers after all that we had been through together. “Heck, Adam”, he said. “Adrian”, I corrected (I can stick up for myself you know). “I know how you feel, Adrian. I am going to have to sack two of my equity partners in a few months time so I know how uncomfortable you feel.” His words made me feel a lot better (they have a superb manner, these big six types, although we’re more than a match for them, yes indeed). Mr Waddia continued “perhaps you could give me a few tips on how to go about sacking equity partners, I’ve never had to do it before”. It’s good to see that we are already starting to influence the Arthur Andersen Worldwide Organisation.
 
NEXT WEEK:  Adrian Burn, the Wilderness Years.

In addition, I circulated the following “song list”:


AND NOW:  Adrian Burn’s top five favourite records of all time.
 
 
1) A medley of songs from the musical “Half Binders Andersen”, including:
 
* We’re Half Binders Andersen, we’ve many accounts to sell;
* Lynchworm, lynchworm, measuring the office space;
* Wonderful, wonderful, old Chicago, centre of Andersen’s style;
* There Once Was an Ugly Merging;
* No two businesses ever we’re so unlike;
* Fumble Binders, fumble Binders, tiny little thing;
* We’re signing on the dole together, the dole together, the dole together, we’re altogether redundant as a pubic hair in soap.
   
2) Arthur’s, We Love You (the paranoid Android song) c/w You’re in the army now.
   
3) Routs and Mergers, routs and mergers, soon consultancy will work for Burgess, Binder Hamlyn’s over, cos this merger is a takeover.
   
4) Arthur’s theme “When you get going between the dole and new employment”.
   
5) Binder’s is merging in the autumn, ding dong lets hope it will survive; Arthur’s no vulture, it’s just a strong culture, so change the way you work, just change the way you work, for gawd’s sake change the way you work in time.

Þe Chronique Of Primordyall Z/Yen: Þe First Part – Sumer Is Icomen In, Spring 1994

At Binder Hamlyn (BDO Consulting), 20 Old Bailey

My earliest diary note of the events that actually led to Z/Yen are in the week of 28 March 1994, which has a 9:30 call with Michael Mainelli that day and the evening of 30 March booked out “MRM” (that’s Michael) for a Park Inn Chinese meal, at my place, organised at short notice.

It was on 28 March that the rumour broke in the press that Arthur Andersen was in the process of taking over our firm, BDO Binder Hamlyn. Our part of the firm at that time was known as BDO Consulting. 

My memory records a couple of “two bottles of wine” evenings with Michael, but actually I don’t think 30 March was one of those. I think the first “two bottles” evening was a couple of weeks later, after a consultancy team meeting at which it became clear that the so-called “merger” was going ahead and that the consultancy was going with it.

I’m pretty sure that we ate and drank in a place along Craven Road, near to Michael’s place. Spanish, I think, but possibly Italian – I think now Il Gusto.

The date of the “two bottles of Rioja” evening during which the name Z/Yen emerged is lost in the mists of time, but I am guessing late spring and I specifically recall the name emerging towards the end of another Park Inn Chinese meal at my flat. By that time we had colleagues Stuart Otter, Steve Taylor and Kate Carty lined up to join the new venture, together with the elusive John Thompson, who had been a client of Michael’s. No-one was entirely comfortable with the name Z/Yen, but when we challenged everyone (including ourselves) to suggest something better, answer there came none.

So Z/Yen it was.