Mon, 11 Jan 2016

As Robert Walters sees an increase in Q4 UK net fee income (NFI), global banks operating in the UK are lengthening recruitment times, the international professional services recruiter says.

According to the group’s financial results for the three months to 31 December, published this morning, while NFI increased in the UK from £19m to £19.9m, year-on-year, permanent recruitment was “noticeably slower”, particularly within financial services in the quarter.

Speaking to Recruiter this morning, global chief executive Robert Walters said as global banks have been realigning and reassessing their businesses, and making changes in senior management, they are taking longer to hire.

Hiring times have typically increased from three to four or five weeks along with the number of required interviews from two to four, as banks have been even more cautious around ensuring they make the right hire.

But demand for good quality legal and accountancy professionals remains in the UK. And Walters anticipates strong growth in Northern hubs like Manchester, Liverpool and Birmingham where government is currently directing expenditure.

Further afield, the group opened a new office in Barcelona specialising in finance, sales and marketing. It is led by Spain managing director Marco Laveda.

In Europe, NFI increased from £11.5m to £12.4m year-on-year, from £23.2m to £24.3m in Asia Pacific, remained at £2.5m in ‘other international’ but grew from £56.2m to £59.1m across the group over the period.