Appointing our Finance Director Designate

We are delighted to announce that we have appointed a new Finance Director Designate to replace our long-serving Finance Director and Company Secretary, Tim Morgan. Tim approaches his planned retirement from Shared Interest Society and Shared Interest Foundation at the end of 2024.

Many of our members will have met Tim personally at past Annual General Meetings (AGMs) and events during his tenure of 15 years, and I’m sure many will join us in thanking Tim for his unwavering commitment to Shared Interest and wish him the very best in his retirement.

Jo Powell joined the Shared Interest team last month, and will work with Tim during a handover period until his retirement. We spoke to Jo and Tim about the incoming changes.

In this article, we speak to Tim as he shares his experiences of his time with Shared Interest. We also speak with Jo, as she shares her enthusiasm at joining the team and her vision for the future.

Speaking about his arrival at Shared Interest 15 years ago, Tim said:

"In 2009, the role with Shared Interest came up, and it was just the perfect fit for me, allowing me to combine finance, social impact and fair trade, which were all things I enjoyed doing and had experience in. It was almost like the job had my name on it.”

With regards to some of his key milestones and achievements, Tim said:

“I think this has been about getting through some major global issues. When I joined, we had just faced the global financial crisis in 2007/08, and then we had Brexit, the resulting financial and economic crisis, and the pandemic. So, my time has been about helping to steer the organisation through choppy waters. 

Increasing our Share Capital amidst challenging times

"We have been navigating a very difficult world in the 15 years I have been here, so I would say getting through those times has been a key achievement. Notably, despite turbulent times, our Share Capital value has doubled in the time I have been with Shared Interest.

Continuing to pioneer the crowdfunding model

“In 1990, when Shared Interest was founded it was really cutting edge; we can claim to be one of the pioneers of crowdfunding, and the robust model that Mark Hayes set up has really stood the test of time. The fact that we are still working under this model is really a testimony in itself. 

"Our innovation, I think, lies in how we interact with members and our peers, how we have broadened our customer base, and also how we have written our own software to manage our customer and member databases. 

“We have always had a community of members who are willing to put their money into supporting producers in marginalised parts of the world. Today, what we do is still ultimately the same, staying true to our mission. Our determination to keep lending money at risk to people who are very vulnerable is innovative, meaning that we remain the only lender prepared to work with small and marginalised groups.”

We asked Tim about the most rewarding aspects of his role, with a smile on his face, he said: 

“I feel very privileged to have worked with such a great team of colleagues and to have had the opportunity to meet producers and members over the years. 

“I visited East Africa and Latin America and was thrilled to meet with several customers, and better understand the impact of our finance. Then there is the patient dedication of our members, who I am always delighted to meet and chat to. 

“That is what mutuality is about, connecting those two groups - the customers who need the help, and the people here who have the firepower to provide that help as a collective - and that is amazing.”

Looking to the future, Tim said:

"My vision is for Shared Interest to remain true to its focus on justice at the heart of trade finance and I hope that the Society and Foundation thrive while continuing to be inspired by that vision.

Jo Powell joins us from the NHS Business Services Authority, a large shared-service organisation providing non-clinical services across the UK. Jo has been a Chartered Accountant for over 20 years, working in the public, private and third sector. In her role at the NHS, Jo became heavily involved with the diversity and inclusion network, creating opportunities for individuals in the UK. 

Speaking about discovering the role, Jo said:

“I had been looking for an opportunity to use my financial experience in a wider setting with the opportunity to make a difference to individuals on a global scale. When I saw this role advertised, I jumped at the chance and am still overjoyed to be starting work with Shared Interest.”

Speaking about how her personal values align with the mission of Shared Interest, Jo said: 

“My personal values are positivity, growth, kindness, acceptance and respect. In my personal and professional life I visibly embrace diversity and inclusivity; I know that what makes us all different brings richness and colour to life. 

"Shared Interest’s mission and the work it does is totally aligned to my values with learning, development and collaboration evident in everything they do. I am thrilled to be part of the journey to support ethical investment and fair trade.

“I believe that all feedback is a gift and helpful, however for Shared Interest and the way it works, member feedback is essential. Knowing why people want to invest and why they want to get involved helps us set the right strategic direction.”

Speaking about taking over the role from Tim, Jo said: 

“I met Tim many years ago when I worked at UNW LLP and was struck by his knowledge, experience and passion for Shared Interest. I will learn how to do things the right way and this will help me succeed in the role. I know I have a brilliant team to work with as well; having great colleagues that you can trust means that you enjoy coming to work and can give your best.”

"As Tim says, we will maintain our focus on justice at the heart of trade finance. I really look forward to getting to know you over the coming months and years."