Donald Fleming

donald fleming

Partner, RSM; Chair, Employer Covenant Working Group

Donald is a restructuring advisory partner in the London office.

He is a member of the covenant assessment services team and has specialised in this field since 2005. This typically involves helping pension trustee clients assess the financial risks in the companies which support them and negotiating funding plans where there is a deficit. During the life of a scheme there may be major transactions (such as take-over or restructuring of the business) which he helps them to address.

Before joining RSM in 2017 Donald was with Gazelle, a specialist covenant assessment firm where he co-founded a practice advising some of the largest UK pension schemes often supported by global corporations across industry sectors. Donald has particular experience with companies in the consumer, telecoms, banks and regulated utilities sectors. Prior to that Donald was with JP Morgan Cazenove for 11 years where he advised a broad range of quoted UK companies, including UK investment companies, on their capital needs though the equity and debt capital markets and on M&A. 

Donald started his career as a banking lawyer in Clifford Chance where he specialised in securitisation.

Donald is a vice chair and, from June 2017, chair of the employee covenant working group. 

He is also the co-editor of 'Good Governance for Pension Schemes' (Cambridge University Press 2011).