In this episode of The New P&L, we speak with Francesca Lagerberg, CEO of Baker Tilly International, the eighth largest global accounting network, spanning 147 territories, 50,000 people, and revenues of $6.8 billion. The first and only British woman to lead a major accountancy network, Francesca brings a rare combination of commercial rigour, human warmth and strategic clarity to one of the most complex leadership roles in professional services. Our conversation with Francesca spans leadership, culture,artificial intelligence and the enduring importance of hope. On leading a global network, Francesca is clear that connection is everything. Without trust and collaboration across geographies, growth means nothing. She introduces the concept of ‘freedom in a framework’ a set of non-negotiable values, like integrity, that anchor the network globally, while leaving room for the cultural nuance that makes local firms thrive. On integrity, she pushes beyond regulation as a proxy for values, arguing that ethical standards must be continuously reinforced through training, conversation and visible leadership behaviour. In a profession built on independent advice, integrity isn't background noise, it's the product. On AI, Francesca is measured and pragmatic. She doesn't believe it's an existential crisis, but she's equally clear it isn't just another software tool. The real challenge, she argues, isn't the technology, it's the capability and culture needed to use it wisely. Leaders must be transparent about what they don't know, invest in upskilling their people, and resist the temptation to automate broken processes rather than rethinking them entirely. On value and billing in an age of AI, Francesca suggests the real question was never about hours, it was always about value. AI has simply accelerated a conversation that professional services has been avoiding for thirty years. On leadership and hope, Francesca argues that leaders have a responsibility to be honest about uncertainty while actively showcasing opportunity. The generation entering the workforce today are digital natives who can reverse-mentor their seniors, who have extraordinary skills in communication and connection, and who will reshape these professions from the inside. That, she says, is a reason for genuine optimism. Her career advice is straightforward: stay curious, ask questions, say yes to opportunities and don't be discouraged by a path that meanders. "I don't think I knew what I wanted to do until I was about 50!" Francesca admits, and she means it as encouragement. Key takeaways: 1. AI demands a rethink, not just an upgrade:Francesca's sharpest observation on AI is that the temptation to simply automate existing processes is a missed opportunity and a trap. The real prize is in questioning whether those processes were right in the first place. 2. Freedom in a framework is the blueprint for global culture: Running a network across 147 territories means accepting that a single, rigid culture won't hold. Francesca's answer is to identify the true non-negotiables, such as integrity, quality, trust; and hold those as sacred,while giving firms the flexibility to operate in ways that are locally relevant. 3. Hope is a leadership responsibility, not a soft extra:In a climate of noise, uncertainty and AI anxiety, Francesca argues that leaders have an active duty to surface genuine reasons for optimism: not as spin, but as honest counterbalance to a media environment that defaults to the negative. Addressing the opportunities clearly and consistently isn't cheerleading; it's leadership. To learn more about Baker Tilly, go to: https://www.bakertilly.global/ To learn more about The New P&L, go to: www.principlesandleadership.com To learn more about The New P&L Executive Leadership programme, email: hello (at) principlesandleadership.com
