Challenge
Ardonagh Specialty, backed by Stone Point Capital, needed to rapidly professionalise its finance function following a new investment round, with a mandate to strengthen investor reporting, cash and cost management, and build the infrastructure required for exit readiness.
Over a 12-month period, nine critical hires were required spanning interim and permanent roles, including a Deputy CFO, Strategy Director, FP&A support, and specialist cash management and treasury capability. Every hire needed proven private equity experience and the ability to operate to investor standards, contributing to exit readiness, financial modelling, long-term planning, and investor communications.
Material gaps existed in cashflow modelling, group reporting, and the robustness of investor packs for Stone Point. The Deputy CFO role was pivotal, requiring a strong cultural leadership figurehead capable of resetting standards and shaping a value creation plan across the wider finance team.
Action
Finatal was initially retained to appoint a single Deputy CFO, the number two to Group CFO Scott Kennedy. Having taken a detailed brief, Finatal identified that the mandate in fact spanned three distinct roles. The Deputy CFO was placed first, focused as much on cultural leadership as technical capability, with deep private equity experience and a track record in investor-grade reporting and cash management.
That hire became the anchor for a broader build-out. Finatal subsequently created and filled an interim Strategy Director role, alongside a permanent Strategic Finance Manager reporting into that Strategy Director, forming a dedicated exit-ready strategic finance team.
Working closely with Scott Kennedy, Finatal addressed a long-standing weakness in cashflow modelling by placing a Senior FP&A Manager, converting not only Scott but three divisional CFOs away from an incumbent recruitment partner to work exclusively with Finatal.
As the newly placed Deputy CFO evaluated her own support needs, she returned to Finatal to mandate a permanent treasury and cashflow modelling specialist, and an FP&A Analyst to strengthen day-to-day forecasting, liquidity management, and board-level insight. When the interim Strategy Director’s mandate ended, Finatal ran a targeted search for a permanent replacement, ensuring a smooth transition and locking in the value creation plan already underway.
Impact
Within 12 months, Ardonagh Specialty had a substantially upgraded finance and strategic team. Nine hires brought consistent private equity experience and fresh perspective into the business, driving a marked uplift in culture, pace, and execution discipline.
Enhanced cashflow modelling, treasury expertise, and FP&A support significantly strengthened cost and cash management, providing the visibility required to underpin Stone Point’s value creation plan and future exit readiness. Investor reporting packs were professionalised to meet, and in several areas exceed, private equity expectations, improving the quality of communication with the fund and reinforcing confidence in management’s grip on performance.
Finatal transitioned from a single retained mandate to becoming the preferred partner for Scott Kennedy and three additional CFOs, evidencing the trust placed in Finatal’s ability to deliver both interim and permanent talent that directly supports value creation.
The assignment was led by Libby Donegan at Finatal, who led both business development and full delivery across all interim and permanent mandates.
Sam Barclay, newly appointed Senior Manager in finance and Strategy at Ardonagh Specialty, said, “I was looking for the right opportunity in a strategy and finance role within a scaled, private equity-backed business, and was particularly interested in operating in a dynamic environment with exposure to complex transactions and international growth.
Finatal stood out because of their deep understanding of the private equity landscape, the quality of opportunities they represent, and their ability to connect candidates with businesses where they can genuinely add value. Libby was particularly fantastic throughout the process – she was transparent, communicated clearly at every stage, and coordinated everything efficiently, ensuring the process moved quickly and smoothly. It was also notably fast-paced and not drawn out, which can often be the case with interview processes.
As a result, I secured a role as a Senior Manager in finance and Strategy at Ardonagh Specialty, where I work closely with leadership to drive growth and value creation through acquisitions, divestments, and strategic initiatives, as well as supporting ongoing portfolio performance.
I’d recommend Finatal to senior professionals and executives looking for high-quality opportunities within private equity-backed businesses, particularly those seeking strategic roles with real impact.“
Scott Kennedy, CFO at Ardonagh Speciality, said: “Following the completion of a minority investment in Ardonagh from Stonepoint Capital, and the increased pressures that a new investor brings to a business, I felt it was necessary to look at bringing more PE experience into the Ardonagh Specialty finance team. To do that I approached Finatal to help me build out the FP&A and wider finance team as I knew they had the candidate pool and reach to get the talent I required to deal with the new demands of a new PE investor.
This build out of the team required me to utilise Finatal’s interim and perm teams, both of whom were extremely supportive and efficient in finding high quality candidates with the right credentials to succeed in a demanding environment. As a result we have strengthened our cash management, cost management and investor reporting teams as well as bringing in a dynamic deputy CFO who has immediately helped me deliver the change in culture and focus required to be successful under PE ownership. The one thing that has stood out throughout my interactions with Finatal, versus peers in the market, has been the ability to work consistently at speed to deliver a high quality candidate list ranging from junior analysts up to experienced CFO’s.
I would fully recommend Libby Donegan and the perm desk, to any CFO needing an injection of a high quality PE experience in their team.”