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News

Market Update February 2017

Wednesday, 15 February 2017

R&I regions

Recruitment within the regions inevitably slowed at the end of 2016. However, a search project with a leading client of ours, a restructuring boutique, kept us busy and we made two senior hires in their Manchester & Birmingham offices. 2017 has seen an increase in opportunities with a number of firms reaping the benefits of what many see as an early consequence of Brexit. Conversations with Senior Partners have led us to believe job opportunities will continue to increase as the year progresses, meaning we are anticipating a busy year. Currently there is a particular focus on insolvency Manager jobs in Birmingham and we have seen an uplift in activity in Leeds, with a number of firms seeking restructuring Senior Managers.

Employment expat

Since the shock of Brexit, we have seen the aftermath rippling out, as companies secure their ranks and try to maintain normality. The mobility market does still seem a bit unstable with the smell of uncertainty in the air, however employment tax is starting to shine again. There is an increased demand for experienced individuals from Manager to Director in London and regionally, as the competition heats up. There are many people feeling the pressure within the Big4 firms given the high fees proposed to clients, whereas the mid-tier continue to provide high-quality work with a superb brand, at more appealing fees. With Deloitte still standing tall and winning a lot of work, the mid-tier are providing a great platform for all levels due to smaller teams with more exposure. This is the opportunity for professionals within this sector to stand up and be heard whilst having the ability to progress.

VAT

As the upcoming rollout of VAT brings more and more demand for technical advice in a completely uncharted territory for corporates in the Middle East, a number of our clients are going full steam ahead with recruitment. Naturally, UK based VAT specialists are therefore very attractive for roles in Dubai, Abu Dhabi, Bahrain and Saudi Arabia. So, absolutely get in touch if an exotic stint (with more sun and less income tax) for a few years to help prepare corporates for a VAT rollout, sounds right up your street. There is still unprecedented demand for indirect tax specialists in the UK. We have top ten clients looking for all levels up to and including Managers, with particular interest in Customs Duty and Financial Services.

Reward

There were some significant senior moves at the end of last year which caused an upset in the market and a lot of uncertainties across the consulting sphere. As a result, many are facing a ‘watch this space’ attitude, however other firms are jumping on this complacency. With the executive reward team at Korn Ferry Hay Group having a facelift through recruiting heavyweights from New Bridge Street; competition will be heating up this year with the opportunity for those to make their mark in the reward sector. Interestingly, as exec remuneration becomes a focus for Theresa May, many firms are considering their economic approach to move things in-house and avoid the costly consulting fees. As a result, we are seeing an increase of industry roles in the pipeline with a few of these already taking up our time!

R&I London

Restructuring and Insolvency teams in London on both the accounting and the law side appear to have begun 2017 far busier than in recent years. Specialised restructuring boutiques, consulting firms and private equity/investment firms have also increased their search for recently qualified accountants, with advisory and insolvency backgrounds to grow their teams. For what seems extensive growth plans, with a number of our top clients, 2017 may prove to be a year to keep familiar with the market and in touch with Harvey Sutton as we see more and more exciting, rare and career defining opportunities in London. We are currently retained on two Partner searches in London and, are trying to find market facing Directors looking to make Partner or existing Partners. Packages on offer are in the £400k bracket, whilst offering high performers a serious alternative to normality. We also have an exciting inhouse insolvency lawyer opportunity at the moment keeping us busy.

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Please get in touch with us with any questions that you have on telephone: 020 7250 0000 or email: info@harveysutton.co.uk.