• Mayfair 101

Ex-Barclays innovation head and Mayfair 101 Board Advisor: There's 'opportunity to re-think value'

Updated: Nov 13, 2019

Kirsty Rutter, Former Head of Innovation, Barclays Bank | Mayfair 101 Board Advisor

Former Chief Innovation Officer at Barclays Plc and Mayfair 101 Board Advisor recently talked to Yahoo Finance UK about why society should rethink the way businesses are valued.

“I think there might be an opportunity for us to re-think value,” she explained.

“Mayfair 101 is successfully leading the shift towards alternative investment solutions in Australia and the UK, achieving outstanding success with their products in Australia targeting the wholesale market and are currently working to launch a retail focused brand in the UK.”

“Accounting and value is a bit like time — it’s a man created measurement. There’s nothing to say we can’t rewrite it, but we haven’t identified the right additional parameters to include in that measurement to give us something that we’re all comfortable with.”

Ms Rutter comments, made in her first interview since leaving Barclays, come as auditors and investors around the world struggle to value companies and account for things like environmental impact.

UBS (UBS) chairman Axel Weber recently called for financial market reform to reflect climate change risk, a cause that Bank of England governor Mark Carney has also championed.

The global B Corp movement is another attempt to build ethical goals into company accounting, tying management to social and environmental targets as well as financial ones. Jamie Oliver recently pledged to turn his remaining restaurant business into a B Corp.

“All of those intangibles are an opportunity for re-thinking,” Ms Rutter said. “I don’t think we’ve yet put enough science around what we could understand. I think that’s probably still five, 10-plus years out.”

Critics argue valuation standards have been loosened in recent years by auditors and investors too willing to agree with management.

The ‘big four’ auditors have been criticised in the UK for failing to question value judgments made by clients. It follows a series of scandals, such as the collapses of BHS, Carillion, and Patisserie Valerie.

In the US, the multi-billion-dollar office provider WeWork has been widely mocked for its use of “Community-adjusted EBITDA” as an earnings measure. It is currently facing a battle to work out the right price for its IPO and is revising down its valuation by tens of billions.

“You can absolutely play devil’s advocate because what’s the saying? When the sea goes out you can see who’s not wearing any trunks,” said Ms Rutter.

“What does matter in my view is how you run a business and the values and culture that you instil in that business, so that you’re doing things for the right reasons.”

She said valuation was a “struggle” and the shift in methodology is not “in any way shape or form finished evolving.”

Ms Rutter served as chief innovation officer at Barclays UK for two years before leaving in May. She recently joined the advisory board of Mayfair 101.

“What Mayfair 101 is doing is bringing new opportunities, disrupting the market, bringing cap market type products to retail investors,” Ms Rutter said. “Investing in new businesses, providing capital and advice.”

This article was published by Yahoo Finance UK on 13 September 2019.

Send us a message
Subscribe to our newsletter

Connect with us

  • LinkedIn - White Circle
  • YouTube - White Circle


This website is published by Online Investments Pty Ltd (t/a ‘Mayfair 101’) (ABN 981 34 785 890, AFSL Auth. Rep. No. 001 274 568 of Quattro Capital Group Pty Ltd (ABN 88 128 914 965, AFSL 334653)). It is provided by way of general information only, is subject to change, and may not be relied upon by any person. Mayfair 101 is an Australia-based provider of investment and corporate advisory services, including funds management, asset management, capital raising, corporate advisory, mergers and acquisitions advisory, and direct investment, either directly or through members of its corporate group. Mayfair 101’s authority under its appointment by Quattro Capital Group Pty Ltd under the Corporations Act 2001 (Cth) is limited to the provision of financial services to wholesale clients in Australia only, including general (not personal) financial product advice relating to deposit products, foreign exchange contracts, derivatives, interests in managed investment schemes and securities. Mayfair 101 and the members of its corporate group may have a beneficial interest in the financial services and products of that group. Mayfair 101 provides advice in relation to financial products of its corporate group only, and terms, conditions and risks apply in respect of such financial products. Such financial products are not a comprehensive range of all possible investment products, are not bank deposits and (like most investments) may be subject to greater risk of capital loss and negative returns than traditional investment products. Prospective investors are strongly encouraged to seek independent professional legal, financial, accounting, taxation and valuation advice before deciding whether they consider any financial products to be suitable for them, and to request any relevant disclosure documents (such as Product Disclosure Statements and/or Information Memoranda) to ensure that they are fully informed before making any investment decision. Past performance should not be relied on as an indicator of future performance. The financial products offered by Mayfair 101 and its corporate group are available to wholesale clients resident in Australia only. Mayfair 101 does not accept investment from retail clients, non-wholesale clients or residents of countries other than Australia. Mayfair 101 and the members of its corporate group are not deposit-taking institutions in Australia or elsewhere and are not authorised to conduct banking activities under the Banking Act 1959 (Cth).

© 2020 Mayfair 101. All rights reserved.