Challenges of a CFO in one of the world’s oldest manufacturers
Daniel Clegg covered the challenges of being the CFO in one of the world’s oldest manufacturing organisations – based here in South Wales. He discussed its expanding international operations including the logistical and financial challenges that presents.
Clegg became a member of the leadership team at The Royal Mint in 2013 and is now head of finance and the financial controller of the whole organisation. Previously, Clegg was group financial controller of IQE, an AIM-listed group based in Cardiff and with operations spread across the globe.
The Royal Mint is one of the world’s oldest manufacturing organisations with a history that can be traced back 1,100 years. James Callaghan brought the Mint from London to Llantrisant ready for decimalisation, and today it employs around 1,000 staff.
It produces around 5 billion circulating coins per year for the UK and around 40 overseas countries, making it the world’s largest export mint. Whilst still owned by HM Treasury, in 2010 it became a limited company as part of its evolution into a much more commercially focused organisation.
The bullion segment was separated out from the commemorative coin business at the start of 2015.