The discussion focuses on the shift towards treating boards as actively managed portfolios of skills and experience rather than static groups. Lucy and David examine how organisations are reassessing board capabilities in the context of evolving strategic priorities, including technological change and shareholder expectations. They highlight the need for forward-looking succession planning, stress-testing leadership structures and maintaining a strong pipeline of “ready now” and “ready soon” candidates to address potential gaps.

The episode also considers the broader implications for resilience and long-term value creation. As the pace of change accelerates, proactive board management is becoming a strategic necessity rather than a compliance exercise. Businesses that adopt a portfolio mindset are better positioned to navigate disruption, align governance with future needs and maintain investor confidence in an increasingly dynamic market environment.

Host Simon Wood is joined by guest Jeremy Cruse to discuss how buybacks have evolved from routine corporate housekeeping into a key feature of capital allocation strategy. They examine why boards are increasingly using buybacks to respond to shareholder expectations, support undervalued share prices and defend against opportunistic bidders and activist campaigns.

The episode also considers the balance between returning capital and investing for growth, particularly at a time when valuations and market sentiment are shifting. Simon and Jeremy discuss the importance of aligning buybacks with broader capital strategy, including dividends, leverage and long-term investment planning, and why disciplined execution remains critical to maintaining investor confidence.

In this episode of Inside Tech Minds, Carly Gulliver speaks with James Dawson, Corporate Finance Partner, and Damon Rosamond-Lanzetta, Head of Tech Sector at Addleshaw Goddard, about what makes technology transactions succeed in an AI-driven market. Drawing on real-world deal experience, the conversation explores the strategic, operational and commercial decisions that increasingly define successful outcomes.

The episode focuses on the issues that matter most during modern technology transactions: why involving advisers early is critical, why integration risk is now a core deal issue rather than a day-two problem, and how overstating “AI-powered” capabilities can conceal significant commercial and operational risks. Topics also include the infrastructure underpinning AI growth from data centres and power through to legacy systems as well as how AI is reshaping governance expectations, value creation and buy-versus-build decisions.

Essential listening for CEOs, CIOs, CTOs and deal teams navigating AI-driven transactions with a focus on execution, integration and long-term value rather than hype.

Enjoyed the episode? Follow and subscribe to Inside Tech Minds on Apple Podcasts or Spotify and, if you have a moment, leave a review to help others discover the show.

Learn more about Addleshaw Goddard’s work in technology and digital transformation: https://www.addleshawgoddard.com/en/sectors/technology-lawyers/

Host Lucy Robson is joined by guests Alex Hogarth and Brian Macreadie to discuss how space has evolved from a government-led endeavour into a fast-growing commercial ecosystem. They examine the rise of low Earth orbit as a hub for satellites, telecoms and data, and the role of private companies in transforming the economics of space through reusable rockets and scalable infrastructure.

The episode also explores the increasing importance of public-private partnerships in supporting ambitious projects such as lunar development, and how space is now being viewed through a commercial lens, from supply chains to capital markets. Lucy, Alex and Brian consider what this shift means for investment, innovation and the broader global economy, as space transitions from exploration to a scalable market opportunity.

In the opening episode of Inside Tech Minds, Carly Gulliver speaks with James Moss, Director of Cyber Investigations at Addleshaw Goddard, about what senior leaders need to understand about cyber risk in 2026. Drawing on real‑world experience investigating high‑profile incidents including James’s role at the Information Commissioner’s Office during the Cambridge Analytica investigation the conversation offers an inside view of how cyber crises unfold.

The episode focuses on the decisions that matter most when things go wrong: how the threat landscape is evolving, why preparation is critical, and how organisations can protect themselves legally, operationally and reputationally. Topics include legal privilege, cyber insurance, regulatory scrutiny and working with forensic experts under pressure and what rising public and regulatory expectations mean for leaders accountable for trust and compliance.

Essential listening for CEOs, CTOs, CIOs, General Counsel and board members navigating cyber risk in an increasingly complex digital environment.

Learn more about Addleshaw Goddard’s work in technology, cyber and digital: https://www.addleshawgoddard.com/en/sectors/technology-lawyers/

Inside Tech Minds is a podcast for leaders who need to understand what’s really happening across today’s technology agenda, and what it means in practice. Each episode explores the issues shaping the tech landscape - from cyber security, AI and data protection to digital transformation, technology transactions and emerging risks.

At the intersection of business, technology and law, Inside Tech Minds brings together industry leaders and technology specialists for focused, real‑world conversations that cut through the noise. Hosted by Carly Gulliver, the podcast is built for busy C‑suite and senior decision‑makers, offering clear, practical insight without jargon helping leaders stay ahead of the technology challenges that matter most.

Learn more about Addleshaw Goddard’s work in technology, cyber and digital: https://www.addleshawgoddard.com/en/sectors/technology-lawyers/

Host Lucy Robson is joined by Angus Rollo to discuss how rumours of mega deals and sector consolidation can quickly trigger competitive responses across a market. From insurance to natural resources, they consider how talk of mergers between major players sharpens strategic focus, accelerates partner searches and pushes companies to pursue scale or acquire key capabilities.

The episode examines the balance between strategic necessity and reactive deal-making. While consolidation can deliver genuine synergies and competitive advantage, Lucy and Angus reflect on the risks of allowing FOMO to override discipline, particularly in volatile markets where timing and valuation remain critical.

Is it a sharp catalyst or an expensive impulse purchase? They unpack the difference, all in the time it takes to make your coffee.

Host Simon Wood is joined by AG litigators Sivan Daniels and Emily Tilden-Smith to discuss how the accuracy of ESG credentials and public disclosures can make or break a PLC’s reputation. They explore why shareholder claims are increasingly focused on alleged misstatements, how litigation funding models are evolving, and why settlements are thriving in the legal grey areas these claims create.

The episode also considers what this shifting landscape means for boards and directors, as governance, disclosure and investor expectations continue to converge, all in the time it takes to make your coffee.

Host Simon Wood is joined by AG sector leaders Hardeep Plahe and Elvan Hussein to discuss how businesses are balancing scale and transformative growth. They examine consolidation in banks, insurers and wealth managers, the strategic role of AI and fintech in digital transformation, and the importance of cyber resilience for tech companies.

The episode also considers the rising influence of private equity in financial services, and how carve-outs of high-tech divisions are driving value creation and investment opportunities.

For a deeper dive into the trends shaping 2026, AG’s 2026 M&A Outlook brings together detailed insights on the next wave of strategic M&A activity and business reshaping across sectors.

The episode examines why divestments and portfolio refocusing are accelerating across retail and consumer businesses, as companies concentrate on their strongest brands, raise capital and respond to weaker consumer confidence. Lucy and Chris discuss how scale, efficiency and brand focus are becoming strategic imperatives as boards look to protect margins and drive long-term value.

Turning to energy, Lucy and Marton explore a parallel trend of consolidation and refocusing, with energy majors pivoting back towards core oil and gas assets while selectively divesting renewables. The discussion highlights how security of supply, shifting energy policy priorities and increased investor risk appetite are reshaping deal-making in the sector.

Together, the episode sets out why 2026 is likely to see continued strategic M&A as businesses prune, consolidate and reposition themselves for the next phase of growth.

For a deeper dive into the trends shaping 2026, AG’s 2026 M&A Outlook brings together detailed insights on the next wave of strategic M&A activity and business reshaping across sectors.

Simon and Lucy look back at the IPO market through a seasonal lens, discussing why the IPO window may finally open wider in 2026 and taking encouragement from strong post-listing performances in 2025, including Applied Nutrition, Beauty Tech and MHA. They also assess the broader tone of the year, with cautious optimism emerging despite the absence of blockbuster deal-making.

The episode adds a lighter twist with festive analogies for corporate performance, fictional listed Christmas movie companies, and a tongue-in-cheek ranking of corporate finance Christmas parties. Simon and Lucy close by sharing listeners’ most memorable deal horror stories from Christmases past, before signing off with seasonal wishes and an optimistic outlook for 2026.

Lucy and Rémy examine the recent agreement between Airbus, Thales and Leonardo to combine their satellite and space systems businesses, and why this deal is a powerful example of how joint ventures can unify critical capabilities, pool resources and accelerate innovation. They consider why the timing is significant, as sectors traditionally driven by government funding pivot towards private capital and commercial models.

The episode also looks beyond space, drawing parallels with defence technology and pharma, where collaboration has shortened development cycles and enabled faster scientific and engineering advances. Lucy and Rémy conclude that while joint ventures are not a universal solution, they are likely to become an increasingly attractive strategic option in Europe, particularly where R&D costs are high and shared strategic interests align.

Simon and Paul discuss why the Budget felt chaotic in its build-up, despite delivering significant tax rises largely driven by fiscal drag rather than structural reform. They explore what this means for confidence, policy credibility and the broader economic narrative, as well as why many of the headline-grabbing measures amount to relatively modest change in practice.

The episode focuses in particular on the implications for public markets, including the introduction of a stamp duty holiday for new listings and changes to Cash ISA limits. Simon and Paul assess whether these measures are genuinely market-friendly or simply tentative steps, and why deeper reform, particularly around pensions and long-term liquidity, remains critical for the UK’s capital markets.

Lucy and Jack discuss why the anticipated wave of high-profile activist interventions has been more muted than expected, despite early predictions and notable campaigns such as Elliott’s pressure on BP. They explore recent data showing a decline in European activist activity, while highlighting how activism has increasingly focused on M&A strategy, breakups and the push for pure-play businesses.

The episode also uncovers a subtler trend, with existing shareholders becoming more vocal behind the scenes. Rather than headline-grabbing campaigns, boards are facing growing pressure from current investors pushing for strategic change, particularly around M&A direction. Lucy and Jack conclude that the real risk this Hallowe'en may not be activist outsiders, but the expectations of shareholders already at the table.

Simon and Rosanna discuss the five core areas of reform: incentives for socially productive lending, reduced regulatory uncertainty for fintechs, updated mortgage affordability rules, streamlined customer redress, and clarified senior manager accountability. They examine how these measures aim to deepen domestic capital markets, improve access to capital for smaller firms, and redirect pension and insurance fund flows into productive assets such as infrastructure and housing.

The episode also highlights why the timing of these reforms is critical, with structural regulatory change positioned to support long-term economic growth and sustainable investment. Simon and Rosanna conclude that, if implemented effectively, the Leeds Reforms could transform the UK financial services landscape for years to come.

Host Simon Wood is joined by guest Rhiannon Price, Director of Group Policy Development at Barclays, to discuss the historical campaign, the insights from recent research into retail investing behaviour, and practical strategies to engage a wider public in equity markets. They explore the contrast between financial incentives and educational support, how different approaches resonate with new versus existing investors, and what the upcoming industry-led campaign could mean for long-term participation in the market.

The episode provides a clear perspective on connecting individual savers to the broader growth of UK public markets, and why investor engagement remains a critical tool for capital formation and economic growth. Simon and Rhiannon conclude with practical takeaways for policymakers, advisers, and market participants as the UK prepares for a multi-year push to increase retail investment.

Hosts Simon Wood and Lucy Robson argue that London’s equity markets need confidence, clarity and a compelling narrative. They outline a three-point manifesto focused on positioning London in the global listings landscape, attracting international issuers, and tackling the long-standing challenge of market liquidity.

The episode explores why London should double down on its strengths in financial services and mid-cap companies, how courting overseas issuers and secondary listings can create a powerful credibility halo, and why improving liquidity requires an open-minded mix of policy initiatives. From pension reform to stamp duty and retail investor incentives, nothing should be off-limits.

Simon and Lucy conclude that London’s fundamentals remain strong, with the right reforms capable of setting the UK’s equity markets up for long-term success. The challenge now is to act with ambition and optimism.

In this episode, guest hosts Louise Pritchard and Nick Pearey discuss how running an IPO and M&A process in parallel can help sellers maximise value and retain optionality. They explain how dual tracks work in practice, why IPOs have recently been a weak alternative bidder, and what might change as European capital markets strengthen heading into the autumn.

Louise and Nick also consider wider market dynamics shaping exit strategies, including ongoing challenges in raising acquisition debt, repeated sponsor to sponsor sales, and the growing use of continuation funds. With capital needing to be deployed and IPO confidence potentially returning, they assess whether dual tracks are gearing up for a meaningful comeback and could once again become a powerful route to the chequered flag.

In this episode, guest hosts Gareth Jones and Giles Distin discuss how the FCA’s July 2024 Listing Rules reforms have narrowed the regulatory gap between AIM and the Main Market, making the move more attractive – and more achievable – for certain companies.

They explore what stepping up now involves in practice, including eligibility requirements, due diligence, prospectus preparation and working capital reviews, as well as the strategic benefits of a Main Market listing such as enhanced profile, broader investor access and potential index inclusion.

The discussion also tackles the downsides: higher governance standards, increased costs and the loss of AIM-specific tax advantages. With many AIM companies still too small to make the move, Gareth and Giles consider whether AIM itself can reinvent its appeal as a growth market – and whether we are likely to see a wave of larger AIM companies “moving on up” in the near future.

Host Simon Wood shares hot takes on the global M&A landscape after a caffeine-fuelled few days at the IBA conference, which brought together over 600 M&A lawyers from more than 70 countries. In just a few minutes, Simon takes the temperature of global dealmaking, touching on tariffs, geopolitical uncertainty, sector resilience, distress and opportunistic M&A, and why the UK’s listed markets reforms are being viewed positively overseas.

Simon is then joined by guest contributors from around the world, each offering a snapshot of deal conditions in their home markets:

• Justin Fox (Australia) on foreign investment and currency-driven opportunity

• Gordon Cameron (Canada) on energy, critical minerals and infrastructure

• Rabindra Jhunjhunwala (India) on buoyant deal activity and outbound investment

• Michael Juhlin (Sweden) on a slower start with expectations of a post-summer pickup

The episode closes with reflections on what global clients really value from their advisers - strategic thinking, judgement and a human touch - and why optimism still matters in uncertain markets.

Hosts Simon Wood and Lucy Robson reflect on why the widely predicted M&A boom has failed to materialise, despite strong deal appetite. They discuss falling average deal sizes, ongoing uncertainty driven by tariffs, interest rates and market volatility, and why confidence remains fragile heading into the second half of the year.

The episode also explores unexpected signs of life in the IPO pipeline, with several high-profile European and UK consumer brands reportedly considering listings, and what even a small number of successful IPOs could mean for market sentiment. Finally, Simon and Lucy examine the resurgence of activist investor campaigns in the US and Europe, particularly those pushing for divestments and breakups amid valuation swings and supply-chain disruption.

Host Simon Wood is joined by guest Jade Murray, Addleshaw Goddard’s pensions expert, to explore the government’s proposals, including consolidation of DC and local government pension schemes and encouragement of greater investment in private markets such as private equity, infrastructure, and venture capital. They discuss the practical implications for trustees’ fiduciary duties, potential risks from higher fees and investment failure, and the likely effect on market liquidity.

This episode provides a concise overview of how pension reform could influence capital deployment, why much of the investment will focus on illiquid assets, and the considerations for UK PLCs and pension trustees navigating this evolving landscape.

Host Lucy Robson is joined by guest Louise Pritchard to explore why large-cap PLCs are selling off major divisions to unlock value, streamline operations, and maximise growth potential. They discuss the role of activist investors, the appeal to private equity buyers, and the importance of timing to avoid selling valuable assets at a discount. The episode also considers potential risks, including over-concentration and market volatility, and what these trends could mean for future corporate strategy and M&A activity.

Listeners gain a concise overview of the opportunities and pitfalls of breakup M&A, along with practical insights into how boards and investors can navigate this evolving landscape.

Host Simon Wood explains how the FTSE 250’s earnings growth has outperformed peers in the US and Europe, driven largely by international expansion. He highlights the structural differences between domestically and internationally focused businesses, the impact of private equity-backed takeovers on the index, and the opportunities for public market reforms to support UK companies in scaling and becoming global champions.

This episode provides a concise analysis of where the Government’s growth agenda can have the greatest effect, why the FTSE 250 is central to achieving that, and how London’s capital markets are well-positioned to facilitate these transformational opportunities.

Host Lucy Robson is joined by competition law specialist Rona Bar-Isaac to discuss the shifting political and regulatory landscape, including changes in leadership at competition authorities and a growing emphasis on supporting economic growth. They consider how a more growth-focused approach could affect merger control, particularly for transactions linked to infrastructure investment, technological innovation and market resilience.

Using recent examples, the episode highlights how regulatory thinking may evolve for complex or highly concentrated markets, the role of remedies in securing approvals, and the delicate balance competition authorities must strike between enabling growth and protecting consumers. Listeners gain a concise, practical perspective on how these developments could start to unlock deals across the M&A landscape.

Hosts Simon Wood and Lucy Robson explore how PISCES is intended to operate as a framework rather than a trading venue, offering a potential stepping stone between private and public markets. They discuss the opportunity for liquidity events for shareholders and employees, the limitations on buyer pools, and why PISCES is positioned as a “private company plus” regulatory model rather than a diluted public market regime.

The episode considers whether PISCES will genuinely broaden access to capital markets or remain a niche solution, highlighting why the detail will be critical to its success. Listeners gain a concise overview of the proposal and its potential implications as the year draws to a close.

Hosts Giles Distin and Louise Pritchard discuss the challenges facing AIM, including declining company numbers, a sustained imbalance between delisting's and IPOs, and growing uncertainty among issuers about the long-term value of an AIM listing. They consider how regulatory changes have altered AIM’s position relative to the Main Market, the cost and compliance trade-offs companies are weighing up, and the implications of inheritance tax reforms announced in the Budget.

The episode also explores the importance of liquidity, the potential impact of wider pension reforms, and whether AIM can create stronger incentives to attract and retain listed companies. Listeners gain a clear snapshot of where AIM stands today and the key issues shaping its future.

Host Simon Wood explores the shift to a more disclosure-based, US-style regime, under which shareholder approval is no longer required for major transactions. He considers why institutional investors opposed the reforms, how boards are responding to differing shareholder expectations, and why formal votes have often been replaced by early engagement and informal consultation.

The episode highlights the continued importance of understanding shareholder sentiment, providing clear forward-looking guidance, maintaining robust governance, and developing a deeper understanding of increasingly complex registers. Simon concludes that, rather than being radical, the changes are likely to result in evolution rather than revolution for listed companies.

Host Lucy Robson reflects on how shifts in the political landscape in the UK, Europe and the US are influencing market sentiment, investor confidence and the UK’s relative attractiveness as a destination for capital. She explores why the UK is increasingly being viewed as a safer bet compared with parts of Europe, the importance of fiscal responsibility and strong economic fundamentals, and the significance of the upcoming Budget for corporate finance markets.

This episode provides timely insights into how political stability, regulatory outlook and macroeconomic signals could shape M&A and capital markets activity in the months ahead.

Host Giles Distin explains how shareholder engagement is evolving, with retail and institutional investors increasingly asserting their influence over schemes and board recommendations. He highlights recent cases where takeovers passed by narrow margins or were voted down entirely, the rising turnout in votes, and the impact of overseas interest in London’s markets. The episode also provides practical pointers for boards and corporates on monitoring registers and navigating shareholder dynamics in a more vocal and active investment environment.

Listeners gain insights into why tight shareholder votes are becoming more common and how companies can strategically prepare for this new era of heightened shareholder scrutiny.

Host Simon Wood highlights the three ‘D’s shaping the market: Deglobalisation, Decarbonisation, and Digitalisation. He explains how post-COVID supply chain reshoring, the energy transition, and rapid digital adoption are influencing deal strategy, valuation, and investor behaviour across Europe. The episode also considers the impact of scale, corporate clarity, and the potential effects of upcoming European elections on the M&A landscape.

Listeners gain practical insights into the key trends driving European M&A activity and the strategic considerations for boards and investors navigating this evolving environment.

Host Simon Wood examines the post-COVID economic climate, highlighting how inflationary pressures, interest rate hikes, and low market liquidity have created difficulties for REITs, particularly those invested in retail and office sectors. He explains the importance of economies of scale, the complications of valuation mismatches in cash and all-share deals, and why managed wind-downs or liquidation sometimes become the fallback option.

This episode provides a clear view of the narrow path to deliverable transactions, illustrated by recent vetoed offers, and offers listeners practical insights into navigating the complex REIT M&A landscape.

With economic conditions stabilising, boards are once again pursuing bold consolidation strategies, particularly among trade buyers across sectors including mining, manufacturing and financial services. Host Lucy Robson shares Addleshaw Goddard’s perspective on why strategic buyers are leading the market, how undervalued assets and cost synergies are shaping deal rationale, and why private equity remains relatively cautious amid higher-for-longer interest rates.

The episode also considers the growing confidence of buyers, an increasingly competitive public M&A landscape, and the importance for corporates of staying alert to shareholder dynamics and defence preparedness. Drawing on Addleshaw Goddard’s experience advising on a significant proportion of UK public bids, this episode provides a concise snapshot of the forces shaping corporate finance strategy in 2024.