A new regional chairman has been elected by R3, the UK trade body for professionals involved in restructuring and insolvency work for organisations and individuals.

Neil Stewart, Regional Associate Director at insolvency litigation financing company Manolete Partners, becomes chairman of R3’s Southern and Thames Valley region.

He takes over the helm from Garry Lee, Associate Director in the recovery and restructuring services department at professional services group Evelyn Partners’ Southampton office.

R3 is the trade association for the UK’s insolvency, restructuring, advisory, and turnaround professionals and its Southern & Thames Valley region includes Buckinghamshire, Oxfordshire, Hampshire, the Isle of Wight, Wiltshire and Berkshire.

Garry, who held the position for three years, handed over the chains of office to Neil, who was previously vice-chairman, at the organisation’s regional annual general meeting held at Mountbatten House in Southampton.

Simon Campbell, a managing director of business advisory firm Quantuma, was appointed the new vice-chair.

Based near Salisbury, Neil is a regional associate director of Manolete Partners Plc, a London-headquartered specialist insolvency litigation financing company which funds and buys insolvency claims and works with insolvency practitioners and their lawyers to maximise returns to creditors.

Neil, whose specialisms also include corporate and personal insolvency, qualified as a solicitor in 1998 after a varied career.

He has higher rights of audience and is an accredited mediator. He has lectured widely on insolvency matters and has extensive experience of working on complex, frequently multi-party litigation.

Neil said: “I am honoured to have been elected as R3 regional chairman and I intend to continue the excellent work carried out by my predecessor Garry in striving to help members and businesses across the region."

“At this time of economic uncertainty, following a series of national and international crises, many businesses across the south are continuing to face extreme difficulty and the work of the restructuring, turnaround and insolvency profession in delivering advice and potential solutions is more vital than ever."

“As a trade body, we are here to bring the profession together, offer examples of best practice, promote discussion, be an influential regional and national voice, and support our members to use their skills to rescue businesses and jobs."

“On a personal level, I am able to bring to the role my varied management experience, as well as my understanding of the profession from two decades in legal practice, before joining Manolete nearly five years ago."

“Something frequently mentioned by colleagues is my ability to organise events and manage teams effectively, which I put down to dogged determination, rather than any particular skills."

“I very much look forward to working with my new STV regional committee of highly able individuals who together have a wealth of experience.”

Caroline Sumner, R3 Chief Executive Officer, said: “Neil’s extensive knowledge of the Southern and Thames Valley region, coupled with his long-standing work on a number of our standing committees, and his sterling track record of organising events and conferences – including this year’s superb Southern Forum – will be a huge asset to us, to him, and to the region during his term of office."

“I have no doubt he will be an excellent Chairman and look forward to working with him to support our members and ensure that businesses and individuals in the Southern and Thames Valley area understand the benefits of engaging with the profession as early as possible.”