It is a radical departure for professional firms to list on a public stock market, so firms are allocated across multiple sub-sectors in the FTSE Industry Classification Benchmark ('ICB'), making our industry near invisible and leading to an inefficient after market. With some 40 listed companies on the Full List and AIM that meet the MPF Definition of a professional firm (see below), the MPF/Noble Professional Services Index calculated by Standard & Poor's enables investors, firms and funds to track the performance of a fast growing and highly profitable industry. The real-time index is available to professional investors through Reuters and Bloomberg on ticker PMINMNGP. Monthly summaries and commentary on the index are available from Noble on www.noblegp.com/x/psi.html.
More information is available on the MPF campaign from the Engaging with external investors page.
The MPF defines professional firms as organisations whose products & services are based on professional expertise rather than on discrete products or commodities. To qualify, 80% of an organisation's core business activities must require specialist knowledge of a subject, field or science, and satisfy at least four of the following six criteria:
- Involves higher level education and usually a formal qualification.
- Regulated by a professional body, licensing authority or similar.
- Has an ethical code of practice with a public service dimension.
- Do not derive significant financial benefit from service or product providers that are recommended.
- Services can be infrequent, technical or unique.
- Selection is usually based on a mix of skill, knowledge, reputation, ethics and creativity.
Chair: Mike Strong - Mike is Chairman & CEO of CB Richard Ellis EMEA with responsibility for over 100 offices and in excess of 4,000 employees. He became a Partner in 1977, a Group Director on incorporation in 1997, and Chairman in 2001. When he isn't working, Mike's interests include his family, golf, theatre and jazz.
Secretary and Deputy chair: Alan Hodgart - Alan is Managing Director of Huron (UK) Limited. He has specialised in working with professional firms for over 20 years on strategic development and on aligning their organisation to their strategic goals through practical steps. Alan has an extensive client base throughout Europe, the US and Asia Pacific.
Paul Jackson - Paul is chief executive of Vantis plc, an AIM listed accountancy firm. He has extensive corporate finance experience, having advised in his capacity as director and shareholder on the flotations of Inspirations plc and Capcon Holdings plc on USM and AIM respectively. Inspirations plc subsequently transferred to the Official List. His responsibilities within the Vantis Group include business development, strategy and corporate finance. Paul qualified as a chartered accountant in 1974.
John Llewellyn-Lloyd is CEO investment banking at Noble - the research-led independent Anglo- Indian investment bank. After qualifying as a barrister in 1984, he became head of corporate finance at Hill Samuel followed by Close Brothers, before taking up his present position.
Gareth Parker - Gareth is Director of Index Research & Design at Standard and Poor's, where he is responsible for the design and development of S&P's indices across all asset classes. Gareth works closely with index users to understand their index requirements and to develop S&P indices that match their exact needs. He is a regular speaker on the international conference circuit and in the media.
John Pickering is the Managing Partner of Irwin Mitchell Solicitors, a leading national law firm. He is a personal injury and clinical negligence lawyer. He has been involved with international personal injury work for many years. He assisted with the founding of Pan European Organisation of Personal Injury Lawyers (PEOPIL) and is its immediate past President. He is a member of the American Association for Justice (AAJ) and has served on its Board of Governors.