Eames Consulting - Delivering Growth14-Jan-2010

Recruitment International (article January 2010) - Global expansion to Singapore & Zurich and continued growth plans.

The past 2 years have undeniably presented some of the greatest challenges the recruitment market has experienced; particularly for those that focused heavily on finance and related sectors. It comes as a refreshing change then to learn more about Eames Consulting Group which has focused on its markets (including Insurance, Banking and Professional Services) and delivered growth. The business focuses on the medium to senior level placements across these markets.  

I met founder Matthew Eames and Matthew Jaquiss, MD, on a bitterly cold January morning at their offices in the City. The energy of fee earners contrasted with the wintry conditions outside. One got a sense of mission in the place - there was a buzz.  

Matthew Eames is not a lifetime recruiter; his professional background is insurance, specifically working in Lloyd’s of London as an underwriter. He eventually trod the recruitment path in 1998 joining PSD contracts division. He rose rapidly to become the top performing consultant for 2 years in a row outperforming 435 other consultants. Matthew explains his success succinctly:  

“The IT market was obviously not the insurance market. But the key principles that helped me succeed at Lloyd’s were the foundation of my success at PSD; the ability to transact business, make effective use of research and creating and developing relationships.”  

In 2002 he decided to channel his entrepreneurial zeal and set up Eames Consulting. “It was not rocket science. I figured that having my own business meant that by using the same sales skills for my own benefit I could secure much greater rewards for the same effort” Matthew explains.  

Since then he has ensured that Eames Consulting keeps a focus on “what it knows best.” Insurance is the largest market segment for the business, generating some 58% of Net Fee Income. Within its three core sectors it focuses on 7 disciplines including change management, compliance and risk management. These sectors have seen demand for professionals actually increase during the recession as companies, not just those in finance, have had to place greater importance on risk mitigation and compliance issues.  

Matthew Jaquiss was hired as MD for Eames in 2007 and he runs the business with responsibility for the strategic and operational direction of Eames Consulting. He has nearly two decades in the recruitment sector including as a Director of TMP Worldwide and Head of UK & European Markets at Alexander Mann Global Markets. He echoes the mantra of the importance of specialist focus:    “We do not want to be all things to all clients. We ensure that the managers for each markets sector know their market really well; there is no better way to establish credibility with clients and develop long term relationships.”

He said that at the end of 2009 the business had a head count of 28 fee earners and expects this to grow to 50 by the close of 2010. Over the past 12 months the business was able to deliver an increase of 36% in NFI (which was in excess of £3million) when compared with 2008. This is outstanding given the macro-economic environment. The business is approximately 50:50 in terms of the permanent /contract mix.  

Matthew Eames added that international expansion was also a key focus over the next 12 months:   “We are opening offices in Singapore to focus on the growing insurance markets in the Asia Pacific region as well as in Zurich given the central importance of Switzerland, for the Insurance and reinsurance markets.”  

Both Matthews emphasised that the business has ambitious plans to grow and to grow profitably. Eames is not keen to simply grab top line revenue growth by simply focusing on new client wins. Such wins are important but the business prides itself on the depth and length of the relationships it has established throughout its history.  

Continuity is clearly an important element of the strategy which brings additional benefits and Matthew Jaquiss added: “We place great importance on “collaboration”. It is one of our defining values and it is something we treat seriously. We do not forget the clients that worked with us in our early days. In addition given our sector focus and measured growth we have very low “churn” rates amongst our senior staff- not a norm in recruitment.”  

Given that the ramifications from the credit crunch are likely to inform the way in which finance (covering banking to insurance) is re-organised, with more emphasis on governance and compliance matters, it is easy to see why Matthew Jaquiss is confident of continued profitable expansion for the business in both domestic and international markets.

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