Gary Lowndes

Chief Financial Officer at Dutco Construction Group

Dubai, United Arab Emirates

About

Experienced finance professional with a 30 year accounting career in the UK and the Middle East. I am currently employed in Dubai as the Chief Financial Officer of Dutco Construction Group which is a leading Construction Company in the UAE through its subsidiaries DBB Contracting LLC, Dutco Construction LLC and BK Gulf LLC. Prior to this position I was the CFO for Peri LLC in the UAE & Oman , the formwork and scaffolding specialist operating in the Construction sector. I was previously employed in Dubai as the Group Financial Controller for Drake and Scull PJSC the Dubai listed Mechanical, Electrical and Plumbing Contractor. I was employed specifically as part of the restructuring team working directly for the CEO. The restructuring team was appointed to turnaround the fortunes of the Group, prepare a new business plan and strategy, to address the working capital challenges facing the Group and to seek new finance. I was previously the Group Financial Controller for Al Naboodah Construction Group LLC. I was the head of the Al Naboodah Construction accounting function reporting directly into the Construction CEO with a dotted line to the wider family Group CFO. I have been based in Dubai since March 2010 and was previously the Regional Finance Director for Cape Middle East, a UK plc operating in the Oil and Gas construction sector. Prior to that role I spent almost 3 years as Head of Finance for the UAE with Atkins plc, the leading multi discipline engineer, who are engaged on major infrastructure and construction projects throughout the region. I have gained extensive experience in the GCC region with full responsibility of accounting, banking, tax, treasury and external audit relationships ensuring full stewardship and compliance for UK PLC and local stakeholder requirements. I have extensive UK experience within both a SME environment as a divisional finance director and also as a divisional financial controller within major divisions of Siemens plc. Almost 13 years of my career was with Siemens plc who are renowned as one of the world leading engineering companies.

Experience

  • Chief Financial Officer at Dutco Group
    May 2020 - Present · 6 yrs 6 mos

  • Chief Financial Officer at PERI
    Apr 2018 - May 2020 · 2 yrs 2 mos

    The PERI Group, founded in 1969, is a worldwide leading manufacturer and supplier of formwork and scaffolding systems. PERI offer wall and slab formwork, climbing systems, working and facade scaffolds and formwork for tunnel and bridges. PERI is today one of the world's largest manufacturers and suppliers of formwork and scaffolding systems. Central functions, development and production facilities are located in Weissenhorn, Germany. Through its 8,100 employees, over 60 subsidiaries and 130 storage sites, PERI sells system equipment and services related to formwork and scaffolding technology.

  • Group Financial Controller at Drake & Scull International PJSC
    Oct 2016 - Feb 2018 · 1 yr 5 mos

    Drake and Scull International PJSC is an industry leader delivering construction projects in the General Contracting, Engineering, Rail & Infrastructure, Oil and Gas, Water and Wastewater treatment sectors. Drake and Scull International PJSC is listed on the Dubai Financial Market. I was employed specifically as part of the restructuring team working directly for the CEO. The restructuring team was appointed to turnaround the fortunes of the Group, prepare a new business plan and strategy, to address the working capital challenges facing the Group and to seek new finance. I was originally recruited as the Chief Commercial Officer of the Group working directly for the CEO. I then held the position of Interim Chief Financial Officer for the March 2017 to June 2017 period. On completion of the appointment of the Strategic Investor who acquired a controlling stake in the Group, I was appointed as the Group Financial Controller working directly for the Investor’s CFO.  Member of the financial restructuring team responsible for a revised group strategy, business plan and financial restructuring  Year-end audit with PWC to a 45 day reporting timeframe to the Dubai Financial Markets  Completion of quarterly interim reporting and audit requirements to the Dubai Financial Market  Management representative and board director of a major Dubai property development investment on Palm Jumeirah  Completion of the sale transaction for the Groups investment on Palm Jumeirah  Preparation of reporting for the Drake and Scull PJSC for AGM and quarterly results presentation  Board member of Drake and Scull Oman  Extensive involvement with bank restructuring meetings to secure additional finance to resolve project working capital requirements

  • Group Financial Controller at Saeed & Mohammed Al Naboodah Group
    May 2015 - Oct 2016 · 1 yr 6 mos

    Al Naboodah Construction Group LLC is part of the Saeed & Mohammed Al Naboodah Group, one of the leading brand names in the UAE consisting of more than 20 companies offering a diverse portfolio of services and products. The family-owned business is run independently as well as in partnership with some of the world’s leading brands. A local UAE family firm operating in the Construction sector in the Civils, Infrastructure, Buildings and MEP sectors. The firm has a government and private client base with a 12,000 blue collar workforce and an extensive plant base of 3,000 assets. The company is predominantly UAE based but also has projects in Qatar and Sri Lanka through its MEP arm, Trans Gulf.  Develop an effective finance business partner relationship to the Managing Director, General Managers representing Finance at the monthly Executive management meetings.  Substantial improvement in financial reporting, analysis and forecasting across the Construction Group  Increased focus and improvement on working capital management  Attendance at monthly project reviews for Civils, Buildings and MEP divisions representing finance and critically assessing project performance  Completion of a 5 year strategy for the Construction Division and presentation to the family board  Finance lead for the Construction Division for an IPO Readiness review conducted with professional advisors  Finance lead on a new ERP implementation for Al Naboodah Group using Epicor ERP  Recruitment of a strengthened finance team and implementation of Shared Services  Setting of annual rates for the Plant, Labour, Asphalt, Concrete and Scaffold divisions  Strategic business review and recommendation to the family board for TransGulf International, Qatar.  Year-end audit for all Construction Group statutory entities in-conjunction with EY. Achievement of a 60 day improvement in the completion of the statutory audit review and sign off by the family Directors

  • Regional Finance Director - MENA & India at Cape plc
    Nov 2012 - Apr 2015 · 2 yrs 6 mos

    Cape is a leading International supplier of multi-discipline services to the Oil and Gas sector. Access, painting, insulation and refractory services are delivered on new construction projects and for plant maintenance. Cape Middle East employs 12,000+ direct workers within Abu Dhabi, Saudi Arabia, Qatar, Bahrain and Oman with turnover in excess of $300m per annum. Major achievements within Cape plc, Middle East & India - Develop an effective finance business partner relationship to the Middle East Managing Director, Country Directors and local stakeholder management boards - Transfer of Regional HQ from Bahrain to Dubai - Set up a new company within Dubai in the DMCC free zone - Project manage the new HQ office fit-out from capex to opening - Substantial improvement in financial reporting and analysis across the ME&I region - Increased focus and improvement on working capital management - Bid review and approval for ME region - Strategic review of Cape India operations, exit plan and substantially complete closure - Transition of year-end audit from PWC to EY - Recruitment and development of a regional management team based in Dubai - Recruitment of a strengthened ME finance team - Review of Cape ME system capabilities and recommendations for the Cape Group IT strategy - Develop an effective and professional relationship with local country shareholders and partners as a board member - Completion of three year end closures with full PLC group and local statutory account sign off - Completion of a major fire insurance claim of $5m - Improved ME risk and compliance review in line with UK PLC reporting requirements