DH Profile

David Hitchcock OBE – Executive Chairman, Joint Managing Partner and Director of all Investee Companies

David Hitchcock is the Executive Chairman of CIM and has been an investment banker for 22 years, first at Goldman Sachs in Equity Sales, then at JP Morgan where he was Managing Director for 17 years with responsibility for all of JP Morgan’s relationships with institutional investors and hedge funds. Since leaving JP Morgan he has become an active investor and director of British precision engineering companies, acquiring stakes in the Cyrus-RW Group and Bradford Cylinders and has been actively involved in the re-financing and management of both of those companies. Since leaving JP Morgan, he was appointed Executive Chairman of Grant Thornton Banking where he has become Non-Executive Chairman from January 2015. Prior to commencing his City career he served as a Captain in the Brigade of Gurkhas. He was educated at Pembroke College, Cambridge and is a graduate of the Royal Military Academy Sandhurst.

Tel: 0207 451 4597

27.03.15 - Cyrus-RW Group - Managing Director Wan Watkins.

Ian Watkins – CIO, Joint Managing Partner and Director of all Investee Companies

Ian Watkins, Chief Investment Officer, is one of the UK’s most experienced precision engineers. Over 45 years Ian has successfully acquired and turned around existing engineering businesses. His management career began at Acton Machine Tools, increasing its turnover to £10m per year and expanding its workforce to 45 engineers.


In 1977 he established Chepstow Machine Tools to become the largest machine tool dealer in South Wales with a turn-over of £10m and a workforce of 130 employees. In 1994 he established Cyrus engineering which through acquisitions became the Cyrus – RW Group.


Ian has a proven track record of acquiring undervalued or distressed precision engineering businesses and then turning them around through operational synergies, relocations and the application of his management teams’ combined 150 years of experience across bespoke design, refurbishment and parts manufacturing disciplines. When Cyrus acquired RW Transmissions and Taylor and Sons both had turnovers of £1m at the time of acquisition. Both have now grown to a respective turnover of £3m each. Cyrus RW Group is now the largest precision engineering group in South Wales, with 150 employees, headquartered in Cardiff and with operations in Briton Ferry, Newcastle, Aberdeen and the Middle East providing innovative precision engineering solutions to the shipping, aerospace, steel, oil and gas industries.

Tel: 0292 034 4400

Peter Schwabach – Partner

Peter Schwabach is a former Goldman Sachs investment banker. He is a graduate of Oriel College Oxford and was educated at St. Paul’s School in London.

Advisory Board

General Sir Peter Wall was appointed as Chief of the General Staff, the professional head of the British Army, in 2010 after a year as Commander-in-Chief Land Forces.He has commanded 9 Parachute Squadron RE, 32 Engineer Regiment in Hohne, including time in Bosnia, 16 Air Assault Brigade in UK, the Joint Force Headquarters, and 1st (UK) Armoured Division in Iraq and Germany.The Chief of the General Staff (CGS) is the professional head of the Army, with responsibility for developing and generating military capability from an integrated Army (Regular and Reserve) and for maintaining the fighting effectiveness, efficiency and morale of the Service.The CGS reports to the Chief of the Defence Staff (CDS) and, as a Service COS, has a right of direct access to the Secretary of State and the Prime Minister. The CGS is a member of the Defence Council and the Army Board, the Armed Forces Committee, the Chiefs of Staff Committee and the Senior Appointments Committee.

General Sir Peter Wall GCB CBE DL

General Sir Peter Wall joined the Royal Engineers from Sandhurst in 1974. In 2010, he was appointed as Chief of the General Staff, the professional head of the British Army, after a year as Commander-in-Chief Land Forces. After a full and fascinating career he retired as Chief of the Army in 2014. He has served all over the world, including operational command tours in Rhodesia, the Balkans, and Iraq. He has extensive experience of Whitehall and working at the top of Government. He is now Director of Amicus, a strategic leadership consultancy, specializing in imparting military command experience to the corporate world, with emphasis on strategic planning and execution, development of senior leaders, trust, reputation, and resilience. He is an honorary fellow of the Royal Academy of Engineering and of Selwyn College Cambridge and also visiting professor at Exeter University.

Peter Hain, representative for Neath, during a photocall for Labour MP's at The House of Commons, Westminster.

The Right Honourable Lord Hain of Neath

The Right Honourable the Lord Hain served in the UK Government for 12 years, seven of these in the Cabinet. He negotiated the 2007 settlement to end the conflict in Northern Ireland and was a Foreign Minister with successive responsibilities for Africa, the Middle East and Europe. From chairing the United Nations Security Council and representing the UK in negotiating international treaties, to domestic policy as Secretary of State for Work and Pensions, Leader of the House of Commons, Secretary of State for Wales, Energy Minister and an MP for 24 years, his experience is widespread. He is a non-Executive Director of two AIM-listed UK companies operating in Africa, teaches part-time at the Universities of Swansea and South Wales, and was a British leader of the anti-apartheid movement, the child of South African parents jailed, banned and forced into exile during the freedom struggle. His memoirs, Outside In, were published in 2012.

Clare Glackin

Clare Glackin

Clare Glackin heads the Industrial Practice at Odgers Berndtson, where she undertakes executive searches for manufacturing and engineering businesses. Her particular focus is senior management in the global Aerospace, Defence, and Security sectors. Prior to commencing her career in executive search, she worked on major infrastructure projects as a Chartered Civil Engineer, before becoming a diplomat with the Foreign and Commonwealth Office. She subsequently moved to the Ministry of Defence, where she led teams specialising in security policy. Clare graduated from Cambridge University with a degree in Engineering Science. She has an MSc from Imperial College, London.

Management Committee


Stuart Lawrence – Strategic Investment Manager, Managing Director of Rhino Doors

Stuart Lawrence graduated from the University of Portsmouth with an honours degree in Mechanical Engineering in 1989 and subsequently pursued a career in Project Delivery and Business Development for a number of high integrity precision engineering companies, predominantly in the nuclear and defence sectors. Stuart gained an MBA from Lancaster University in 2002 and has spent the last 14 years successfully leading a number of UK based engineering businesses.

Tel: 07515 396 665

Independent Directors

Stephen Hay

Stephen Hay – Independent Director of Rhino Doors

Stephen Hay, Independent Director of Rhino Doors, worked briefly for the Foreign Office before joining Goldman Sachs where he became a managing director. He was with Goldman for 20 years in a number of roles including Director of European Equity Research. He was a founding partner of Aim-listed Circle Health Holdings plc, where he was co-head of Partnership development. He is currently a director of Pilot Lite Ventures, a firm which specialises in the commercialisation of intellectual property and an associate of the Good Governance Institute. His current Non-Executive roles include the Boards of NHS Tayside and Hazel Renewable Energy VCT 1 plc. Stephen graduated from Oxford University in Modern History and has an MBA from the London Business School and an MSc in Global Environmental Change from Edinburgh University.

robert davies

Robert Davies – Independent Director of City Engineering

Dr Robert Davies is a graduate of Exeter University and spent the
first ten years of his career lecturing and researching economics at the Universities of Belfast and Bath. In the late 1970’s he joined the family business, City Engineering (Bristol) Ltd and became Managing Director in 1989, while continuing to pursue his educational interests by teaching at the Open University. During the 1990’s, Dr Davies also held Directorships at packaging machinery manufacturers Bradman Lake Ltd, and at the British Engineering Manufacturers Association.

David Taylor

David Taylor – Independent Director of FGP Systems

David Taylor has spent over 25 years successfully leading SMEs in the engineering and manufacturing sectors. Over this time David has built a track record of creating significant shareholder value through business transformation, acquisition and disposal. Latterly, David has taken Machine Tool Spares, a West Midlands SME, from start-up to become the second largest global player in a specialist area of the machine tool sector. Prior to moving into manufacturing, David worked as a strategy consultant for Outram Cullinan & Co. David holds an MBA from London Business School and a Masters in Economics from the University of Leeds.

Finance Director


Dan Kalms FCA

Dan Kalms, serves as full time Financial Director of CIM. He qualified as a Chartered Accountant in 1999. Since then Dan has worked as Financial Controller and Operations Director for a range of businesses. Dan joined Cyrus Investment Management LLP in April 2015.

Tel: 0203 709 5028

Investor Relations


Hal Cullity – Head of Investor Relations

Hal Cullity graduated from the University of Western Australia with a double degree in Mechanical Engineering and Corporate Finance. For his honours thesis, Hal developed a prototype powder heating unit to improve metal 3D printers. Hal worked as an analyst for a top Australian based equity fund and as such brings a unique background in both precision engineering and financial analysis to CIM. Hal has represented Australia sailing dinghies and is a qualified snowboard instructor.

Tel:  0207 451 4595