Rynda Participates in Government Review of Employee Ownership
Michael Walton one of the pioneers invited to be part of the research process
In January 2012, Deputy Prime Minister Nick Clegg’s speech on Responsible Capitalism started the ball rolling on a campaign to investigate the merits of employee-owned companies and led to the appointment of Graham Nuttall as an independent Government advisor on employee ownership, who was tasked with establishing the barriers to employee ownership and how they can be overcome. The key recommendations were as follows:
- The Government should raise awareness of employee-owned businesses through promotions, advocacy work and a new ‘Right to Request’ which allows employees to discuss employee ownership proposals with their employers
- Increased resources to promote employee ownership such as a new sector-led Institute for Employee Ownership and the availability of sources of finance
- Simplification of the setting up and running of a new employee-owned business through the use of ‘off the shelf’ models, templates and toolkits, regulatory reform and a reduction in the complexity of other regulation and tax policies
- Monitoring of progress and associated issues via an annual report and a sector steering group
In recognition of CEO Michael Walton’s success creating and managing an employee-owned business, he and a number of other pioneers in this area were invited to take part in and contribute to the research process. Offering Asset and Property Management, Debt Recovery and Fund Management services to a range of clients including banks, real estate funds, private property companies and other institutional investors, Rynda concentrates on assets based primarily in Western Europe.
Employee-owned companies are increasingly considered to be beneficial to all parties concerned. Research carried out by Cass Business School suggests that these companies are able to create new jobs and recruit more quickly, are more resilient to market downturns and have a lower risk of business failure. In addition, staff employed in these businesses is more committed, motivated, are less likely to be absent and enjoy a greater degree of job satisfaction than those employed in more conventional structures.
Rynda Property Investors LLP, which is 100% owned by its partners and staff, has been following this model since its inception in 2005.
Michael Walton feels that employee ownership has proven particularly beneficial at Rynda Property Investors. In spite of the market downturn, Rynda is growing, recruiting, winning mandates and has no debt. Having a stake in the business has created more job satisfaction for employees. Subsequently, the team at Rynda is just that – a team. The head office in the City of London has a real collegial atmosphere where members of staff are more than just clock-watching employees. There is no real sense of hierarchy, no one is too important to make the tea or do some photocopying. Everyone pulls together to achieve the same goal and this is testament to Michael’s leadership and dedication. He takes a personal interest in each individual’s professional development, education and achievement, realising that well-motivated, happy employees will provide the best service to clients. Because of this, working at Rynda is more than ‘just a job’ as staff knows that Michael’s innate sense of fairness will ensure that they are rewarded if they do well.
For further information, please contact:
Michael Walton
Chief Executive - Rynda Property Investors LLP
Tel: +44 (0) 20 3328 4700
About Rynda Property Investors LLP
Rynda Property Investors LLP is an independent Real Estate Investment and Asset/Property Manager. With offices in London, Paris, Lille, Frankfurt and Rotterdam, Rynda is 100% owned by its management team and supported by 31 professionals.
Founded in September 2005 by Michael Walton - who has more than 25 years of industry experience, Rynda drives outperformance through the active management of real estate and the recovery/restructuring of property assets/corporate holding structures. Rynda’s clients include banks, real estate funds, private property companies, special servicers of CMBS structures and other institutional investors. Its property and asset management mandates extend to more than 621 tenants in 128 buildings and as at 30th June 2012, the firm’s AUM totalled c. EUR 600m.
Rynda provides the property investment and management sector with a new level of dynamism and professionalism and is committed to providing its clients with the best possible level of performance and service. A practical, ‘hands-on’ approach and integrated accounting systems enables Rynda to offer timely and transparent reporting. The combination of management ownership and FSA regulation mitigates the risk to its clients. Rynda believes that the interests of a firm should be aligned with that of its investors and so demonstrates its mutual commitment by seeking to co-invest.
Rynda Property Investors LLP is authorised and regulated by the Financial Services Authority. Rynda Property Investors LLP is regulated by RICS and a member of INREV. Property Management within the Rynda Group is undertaken by Rynda Real Estate Asset Management Limited and its subsidiary entities that are appropriately licensed and insured in France, Germany and The Netherlands to undertake transactions and rent collection.
