Financial recruiter Goodman Masson has promoted Andrew Michael to managing director of the company.

Michael joined the City-based recruiter in January 2009 as director of permanent recruitment and a brief of helping to create a market-leading finance recruitment business.

Michael says: “I am delighted with the progress we’ve made within our permanent product over the past 18 months. In Q2 2009 the permanent business was averaging just under £750k gross margin per quarter and this year we witnessed our first ever £2m quarter during the same period.”