Financial services firms have recruited over 60% more interim project and programme managers in August, according to interim management provider Practicus.

According to Practicus’ financial services director Mike Davies, the firm has experienced a rapid growth in demand for interim finance directors and HR specialists, compared to July.

Comparing figures from July, one client, the chief operating officer of an international bank, commented: “Since the positive results have been posted we are now receiving sign-off on change budgets, delivering on the time lost during the crunch.”

Davies says banks now have the renewed confidence to act and move forward rather than stagnate as they target more strategic and long-term projects. “They are now investing in HR transformation, IT infrastructure and larger business process re-engineering initiatives rather than just straightforward cost reduction or rationalisation.

“A number are also focusing on the integration of acquired businesses to prepare them for the coming upturn in the rest of the economy. Financial services organisations do not normally retain all the talent in-house to deliver these change programmes, especially due to the recent spate of redundancies, so they’re turning to specialist interim management providers to kick-start their growth programmes.”