What happens when one of the UK’s largest companies collapses—and takes trust in the entire UK audit profession with it?

In this episode, I sit down with Mark Raddan, CEO of Interpath Advisory and former KPMG UK Senior Partner and Board member, to unpack the fallout from the Carillion collapse and how it fundamentally reshaped the UK turnaround and restructuring profession.

Carillion employed more than 40,000 people and delivered critical public infrastructure across the UK. But in 2018, it collapsed under the weight of debt, aggressive accounting, and failing contracts—triggering parliamentary inquiries, regulatory backlash, and record fines for KPMG.

What followed wasn’t just the failure of a company—it was a structural reset of the entire profession in the UK. Regulators moved to address conflicts of interest within the Big Four, ultimately forcing KPMG to sell its restructuring business.

That carve-out became Interpath Advisory—a new, independent firm backed by private equity and now operating as one of the large independent global turnaround and restructuring firms.

Mark was at the centre of that transition.

In this conversation, we cover:

• The Carillion collapse and the consequences that followed.
• The impact on KPMG UK and the wider profession
• Why the Big Four were forced to rethink their business models
• The creation and rapid growth of Interpath Advisory
• How private equity is reshaping the professional services model
• The future of restructuring, advisory, and the impact of AI

This is a rare, insider perspective on how crisis, regulation and capital combined to create an entirely new competitive landscape in global advisory.

This podcast is for information and general discussion purposes only.

The views expressed by guests are their own and do not constitute financial, legal, investment or professional advice. Nothing in this episode should be relied upon as a recommendation or advice to make any business, financial or investment decision. While every effort has been made to ensure accuracy, the content is based on publicly available information and personal perspectives, which may be incomplete or subject to change. Listeners should seek their own independent professional advice before acting on any matters discussed.

Follow the podcast for more conversations on business, leadership, crisis and recovery.

Connect with me on LinkedIn:

👉 https://www.linkedin.com/in/james-h-stewart-gaicd-83b46a9

or at my website:

👉 https://jameshstewart.com

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What is customer loyalty — really?

Is it points? Discounts? Retention metrics? Or is it something deeper?

In this episode of What I Learned in Business (That Didn’t Kill Me!), I sit down with Adam Posner, founder of The Point of Loyalty, host of the What’s the Point of Loyalty? podcast, and author of For Love or Money™ — one of Australia’s longest-running loyalty research studies, spanning nearly two decades and 18 editions.

But before Adam became a loyalty strategist, his life gave him a very different education. Growing up in Johannesburg during apartheid, living through conscription into national service, surviving a terrorist car bomb explosion, and emigrating to Australia to start again from scratch — Adam’s worldview was shaped long before he ever designed a loyalty program.

From walking the streets delivering scratch-and-save cards into letterboxes, to building a direct marketing agency and ultimately pivoting into customer research and loyalty strategy, Adam has spent nearly 20 years asking a deceptively simple question:

What actually makes customers stay?

In this conversation, we explore:

• Why loyalty is about Behaviour, Belief and Belonging
• The importance of retail response when the customer experience disappoints loyalty
• Why customer loyalty and trust are closely connected
• Why the world needs a “Pandemic of Joy” — and what Adam calls Joyalty
• How AI and agentic technology may redefine brand–customer relationships

This episode is a masterclass in what Adam calls “the finance of feelings” — the commercial power of emotion in a data-driven world.

If you lead a brand, manage customer strategy, sit on a board, or simply care about how businesses build trust — this one is for you.

The views expressed in this podcast are those of the individual guest and host and do not constitute financial, legal, investment, marketing or professional advice.

This podcast is intended for general informational and educational purposes only. Any discussion of brands, loyalty programs, corporate events or data breaches reflects publicly available information and personal opinion at the time of recording. Listeners should conduct their own independent enquiries and seek appropriate professional advice before making any commercial or strategic decisions.

This episode is not a promotional platform and no endorsement of any organisation or product is intended or implied.

Hosted on Acast. See acast.com/privacy for more information.

Everyone talks about sustainable retail products and saving the planet, but who really cares? Retailers? Customers? Government?

The global retail sourcing & supply chain is invisible to most consumers, yet it is one of the most complex, highly integrated and culturally nuanced business ecosystems in the world.

James H Stewart sits down with Anne-Laure Descours, one of the world’s most senior and respected leaders in global sourcing and sustainable manufacturing in the footwear and apparel industry.

Anne-Laure spent more than three decades in the engine room of global retail — living and working across China, Vietnam, Bangladesh and Hong Kong — and ultimately serving as Chief Sourcing Officer of PUMA, overseeing the manufacturing and supply-chain operations that power an €8+ billion global brand.

Before PUMA, she held senior leadership roles at Li & Fung, the legendary Hong Kong-based sourcing powerhouse that helped shape modern global manufacturing.

Since leaving PUMA in 2025, Anne-Laure has continued her work in responsible supply chains, joining the board of Gildan Activewear (owner of American Apparel) and serving as an advisor and board member to Haelixa, a Swiss innovator in DNA-based traceability solutions for fashion and textiles.

In this wide-ranging conversation, we explore:

• What global supply chains actually look like behind the scenes
• The realities of sustainable sourcing across Asia
• Cultural intelligence and leadership under pressure
• The role of government and regulation in driving changes to sourcing models and sustainability reporting
• Why end of life products are the biggest unsolved hurdle for sustainable manufacturing - and this goes to the heart of consumer demand.
• How DNA tracing is reshaping sourcing transparency
• What three decades in high-stakes global operations teaches you about resilience and trust

This is a rare, inside-the-system perspective from someone who has led through crisis, transformation and geopolitical disruption — at scale.

James H Stewart is a former KPMG restructuring partner and Australian Board member who interviews global leaders about the hard lessons they’ve learned in business — and survived.

Connect with James:

LinkedIn: https://www.linkedin.com/in/jameshstewart/

Website: https://jameshstewart.com

This podcast is for general informational and educational purposes only. The views expressed by guests are their own and do not necessarily reflect the views of their past or present employers, affiliated organisations, or the host. Nothing discussed in this episode constitutes financial, investment, legal, regulatory or professional advice. Listeners should seek appropriate independent advice before making any commercial or investment decisions. All commentary is based on publicly available information and personal experience at the time of recording.

Hosted on Acast. See acast.com/privacy for more information.