HW have seized the opportunity to add to their growing London team, having recently moved to a new larger office in Euston, with the appointment of Richard Simmonds. Richard is Head of the Industry Practice at HW. He has extensive knowledge and experience in leading senior assignments across the construction, infrastructure, manufacturing, transport and business services sectors.
Richard has 12 years’ experience within the executive search industry having previously held senior positions with 2 major global firms. Prior to this he spent 6 years in the Royal Navy before working as a fixed income trader at UBS.
There has also been new additions to both the Financial Services and global Strategy teams, again based out of the new London office.
CEO John Wakeford said “London remains an important part of our strategic growth plan as many of our global clients have a significant presence in the geography. We continue to see an ever increasing demand for our services and will look to both organic hires and specific merger and acquisition opportunities as we expand our footprint.”
HW now employs 30 people in its search and professional interim business.
At a HW dinner for Chairs and CEOs, which took place less than a week after the Brexit vote, one of our guests, the CEO of a FTSE 250 business, said , “ It is absolutely crazy ! Our share price is down over 10% , yet 40% of our revenue is in dollars and another 30% in Euros. Can’ t the analysts do the maths on what that means for our profitability with the fall in sterling rather than just lumping us together with other industrial stocks ?”
This seems to nicely sum up the Brexit conundrum. The reality is that UK plc is in pretty good shape. Even with all the uncertainty our productivity and employment rates – with the exception of Germany – remain the envy our European competitors. The strength of UK plc was demonstrated by SoftBank being prepared to pay $32bn for ARM plc this week. With Theresa May in place as the new Prime Minister it is business as usual for the UK. We can look on from the sidelines at the upcoming elections in France and the USA with all the challenges that their economies will face as polling day approaches.
Surely we can now put to bed any fears of an apocalypse post Brexit for UK plc ? The UK has a trade deficit in goods of £62bn pa with the EU so they are not going to pull up the drawbridge. For example, Germany sold us almost one million cars last year making the UK its largest single export market. UK plc needs to now focus on taking advantage of the opportunities out there in global markets which includes the EU. We have been doing this successfully for quite some time and now have the chance to take advantage of our new found freedom. Carpe diem !!!
Brexit has undoubtedly impacted the economic scenery. The only real certainty is we are in a period of uncertainty. Interim Management has always proved to be relatively economically resilient and as long as there is change, demand for interim managers remains strong. Short term thinking is certainly at the forefront of hiring strategies and with cost cutting sensitivities around the UK there exist industry specific skill shortages. The demand for project specific Interim Managers has already begun to increase. This is primarily in the interim to substantive arena and there has been an incremental increase in the number of permanent executive assignment converting or indeed dismantling into Executive Interim assignments. Turnaround and change specialists, particularly within HR and Marketing have seen a notable rise. It is not irrelevant that in uncertain times a senior interim has an arguably great economic value to a business than a less experienced management consultant. We have seen a rise in the uptake in Risk and Compliance specialists.