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News

Ahead of the Games?

Friday, 13 July 2012

The second half of 2012 has brought a lot of interesting developments; big ticket news coverage with potential implications for our core practice areas. How much of an impact and how long these reverberations may last are yet unknown.

Unable to avoid the headlines

With a penchant for manufacturing inter-bank loan rates, Barclays has found itself published all over the headlines of late. Most recently however, and most relevant to our specialisms, they are in the media spotlight from an entirely different angle: the victims.

The firm has filed a complaint about an alleged breach of client confidentiality by a Top 10 accountancy firm. A representative of Baker Tilly, seconded to the bank, is the individual being questioned and the ICAEW will be treating this matter with the utmost importance. However, the press have found it rather intriguing that the firm’s ex-Head of Restructuring and Recovery made a timely departure from the firm – ‘retiring’ at the end of April. 

One big concern however, is the effects this saga may have on Baker Tilly’s long standing position on the Barclays Panel of Insolvency firms, where it is understood that Barclays will undertake a review at some point this year.

Demand for junior personnel

Where Baker Tilly may be looking to fill senior role/s, some of our other clients have seen a drive in recruitment for the junior end of the scale, with a big surge in demand for junior administrators. This is a positive sign as it indicates that firms are busy and that profitability is on the rise.

Contentious insolvency has been picking up, and there are some fantastic partnership roles in the formal insolvency space, but the advisory market remains the biggest player with exceptionally busy boutique insolvency firms requiring more staff.

The regions have shown that they are keeping busy, with requirements at the manager and senior manager level, particularly in the Manchester and Birmingham areas. Even with the Big 4 having closed their doors recently, this upward trend is showing signs of a pick-up and there are some requirements at the manager grade amidst the Top 10 firms.

London 2012 in T-minus 14 days. Ready? Set?... No? Thought so.

Some of us might be incredibly excited for what a fortnight promises to bring to London (perhaps some good fortune on the lucky dip for Olympic Tickets has something to do with that!). The rest of the busy professionals of the Square Mile and Canary Wharf however are dreading the logistical nightmare that the Games might bring, involuntarily, with them. With many firms establishing working from home measures to ensure productivity is not hampered by a surge of the estimated 11 million extra people using public transport, we are wondering what you might be doing to minimise the effects and what your firm is doing to accommodate the somewhat annoying tannoy announcement on the London Underground to ‘get ahead of the games’?!

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