Day rates for interim managers in the finance sector have risen by 12% this year, according to research from executive search firm Kinsey Allen.

The research shows the average daily rate for an interim manager working in the financial services sector has reached £725 per day – 6% higher than the average rate in 2008 (£675). Before 2011, rates had fallen slightly for two consecutive years.

Lucinda Brown, managing director at Kinsey Allen International, says: “The surge in demand for financial services interim managers in the latter half of 2010 has accelerated since the turn of the year.

“Larger firms are less hesitant about hiring interims for projects as growth programmes gather momentum and there is a growing appetite for candidates with in-depth knowledge of risk, compliance and change management.

“These skills are needed to meet the new regulatory framework and to resolve merger/integration challenges.”