The Team

We are a team of highly-qualified and experienced sale, merger and acquisition advisers and corporate consultants. We enjoy and are committed to working with clients to bring about change, either through our business consultancy or via our M&A lead advisory services.  Our team is comprised of professionals who have experience of the service sectors we focus on and have a deep understanding of the local markets and regions our clients operate in. This experience and knowledge, coupled with a desire to fully understand our clients business models and aspirations, has seen us assist in over 1000 successful sales, mergers and acquisitions transactions.


Keith Underwood
Managing Director UK

Keith' s main experience and strengths lie in strategic planning and financial/business development, both in the UK and in Asia. He has instigated and managed many mergers and acquisitions. He has implemented changes in business models, in both the consumer and professional service sectors, to initiate improved market positioning and profitability. 

With a wealth of experience, he has been a non-executive Director of a public company, run an international company with over 700 staff operating in ten countries, and sat on the Board of a number of international network groups in the service sector, to name but a few.



Tim Underwood: 
Managing Director Singapore

Tim joined the Foulger Underwood team in 2000, bringing with him a valuable background in UK Accountancy and Wealth Management. Tim’s initial role was to expand Foulger Underwood’s M&A capabilities by broadening our sectors of focus, taking us into the wealth management and trust & corporate service sectors in the UK and Europe. Having successfully supported numerous client transactions on both the buy-side and sell-side, Tim accepted an invitation in 2009 from the Singapore Accounting and Regulatory Authority to assist them in the development of the CPA and wider accounting sectors in Singapore. Foulger Underwood Singapore was established in 2010, which Tim continues to lead. The Asian business continues to grow and Tim spends the majority of his time assisting firms in the trust and corporate service sectors with their M&A strategies, either through sell-side support for vendors across the region, or assisting larger regional and global firms on the buy-side. 



Brian McKinstry
Director Hong Kong

Brian spent the first ten years of his career with KPMG before moving into CFO positions for regional groups in the services sector.  From 2002 to 2013 Brian was Group CFO of a major global trust and corporate services group headquartered in Hong Kong, under founder and private equity ownership, including seven years by the Carlyle Group. Brian's experience includes a strong background in the buy-and-sell arm of mergers and acquisitions, due diligence, valuation, integration planning, project management and corporate structuring.  Brian joined Foulger Underwood in 2014 to establish the Hong Kong office and strengthen the group’s overall capabilities in Asia. 



Julia Whistler:
Head of Operations

Julia joined the team in 2010 bringing with her a strong background in project management, operations and HR garnered during her time with        T-Mobile and WHSmith. Julia joined us to manage client assignments and co-ordinate retained client mandates.  She now leads our Operations team ensuring that the respective business units have all the resources they require to deliver against the high expectations of our clients. Julia ensures the Group operates efficiently and productively across our global offices ensuring cross referral of information, opportunities and market intel. Specific areas of responsibility include the management of the international research team, co-ordination of multi-jurisdictional search assignments and sector focused campaigns. She also manages our HR, marketing, promotion and advertising and has responsibility for the development of all UK and European markets.  



Philip Shohet:
Senior Consultant

Phil has a unique knowledge of the management and development issues faced by accountancy practices in the current and future marketplace.  He has gained this from many years as one of the leading practice consultants in the country providing strategic management, marketing, growth and merger solutions to firms throughout the UK.  Phil has authored many books and articles, spoken at national and international conferences and seminars and is frequently asked to comment by the media on issues that affect the accountancy profession



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Stephen Tucker:
Senior Consultant

Stephen’s early  professional life included working for the Inland Revenue before moving to Lloyds bank and then two top ten accountancy practices where he specialised in tax. In the early nineties he then began dealing with pensions and investments before moving to The Fry Group where he became a Director and, from 2008, Chair and Managing Director. The Fry Group has 10 offices in five overseas jurisdictions and advises clients on assets exceeding £1.5bn.   During his tenure, Stephen made three IFA firm acquisitions and integrated them into the group.  Stephen has also overseen the set up and running of an investment management business and its associated sales arm. He has also acted as a non-exec director of Nucleus Financial, an award winning  and highly regarded wrap platform. He is an engaging public speaker, occasional commentator on radio and writes content on IFA strategic matters. His passion for excellence and commercial success in financial advice offerings is greatly appreciated by his clients.



Jackie Hyland:
Customer Relationship Manager

Jackie joined us in 2001 and is primarily responsible for client relationship liaison. Amongst many other things, Jackie profiles opportunities, coordinates client meetings, manages the progress of assignments and monitors all post-meeting feedback. Jackie also manages and maintains a high standard of administration across the team and business, to ensure confidentiality is maintained throughout the process of bringing parties together.



Kevin Reed:

Kevin is working with              Foulger Underwood to develop and promote content and ensure we are engaging with the professional communities we serve. An experienced journalist and writer, Kevin is the former editor of both Accountancy Age and Financial Director. As a freelance consultant he has worked for numerous finance publications and with corporate marketing teams, on content strategy and copy writing. Kevin also served for many years as chair of the judging panel for the British Accountancy Awards.



Jenny Pensom:
Head of Research

Jenny joined us in 2012 to manage, develop and co-ordinate localised, regional and global assignment research. Jenny has responsibility for the enrichment and maintenance of our database, keeping it up-to-date with the latest information - personal or corporate. Jenny has a strong background in relationship-building, within a sales environment, and also handles initial client contact. 


…appreciate the communication, knowledge and practical approach.
— Carpenter Box