Severfield hires ISG finance chief: strategic and project delivery lens for engineers
Reviewed by Tom Sullivan
First reported on The Construction Index
30 Second Briefing
Structural steel specialist Severfield has appointed former ISG finance chief Andrew Page as chief financial officer and executive director, effective Monday 16 February 2026, replacing interim CFO Jan Bramall, who has held the role since November 2025. Page previously joined ISG on an interim basis for Cathexis in early 2024 to pursue refinancing before the contractor entered administration that September, and is not generally viewed as responsible for the collapse. His earlier senior finance roles at Centrica, British Energy, FirstGroup and Ocado give Severfield a CFO with listed-company and construction-sector restructuring experience as it pursues a new group strategy.
Technical Brief
- Page’s ISG tenure involved attempting a refinancing under private-equity owner Cathexis rather than public markets.
- Collapse of ISG followed failure to secure new debt or trade sale despite that refinancing mandate.
- Severfield’s board is explicitly linking the CFO role to its ongoing “transformation” and strategy reset.
- CEO commentary frames Page’s remit around “strengthening foundations for long-term growth”, implying balance-sheet focus.
- Prior roles at Centrica, British Energy, FirstGroup and Ocado provide experience with regulated and asset-heavy businesses.
- Listed-company background suggests continued emphasis on market reporting discipline and covenant management for Severfield.
- For other UK contractors, the hire underlines demand for CFOs with restructuring and refinancing track records.
Our Take
Recent coverage shows Severfield already in turnaround mode, with the January 2026 closure of Severfield Modular Solutions and a reported pre-tax loss and revenue drop in late 2025, so bringing in a CFO from ISG’s collapse context signals a board focused on hard restructuring decisions rather than incremental change.
With all the named companies and activity centred in the United Kingdom, this appointment comes as several UK contractors and fabricators in our database are dealing with margin pressure and project risk transfer, meaning Severfield’s finance function will be critical in pricing and selecting work more selectively.
The shift from interim CFO Jan Bramall to Andrew Page in early 2026, following Paul McNerney’s arrival from Laing O’Rourke, completes a rapid refresh of Severfield’s top leadership team, which typically precedes portfolio pruning and tighter capital allocation in our infrastructure-company coverage.
Prepared by collating external sources, AI-assisted tools, and Geomechanics.io’s proprietary mining database, then reviewed for technical accuracy & edited by our geotechnical team.
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