Following the uncertainty around the changes and impact to legal structures following the UK’s decision to exit the EU we have seen an increase in strategic change management hires, particularly since the general election, looking at design and execution of target operating models.
Banks and insurers have been looking at their EU head office locations in a number of key sites including Dublin, Paris, Frankfurt and Brussels. In terms of our clients hiring plans in the UK the general message is ‘business as usual’, however the contract and interim market has remained mixed.
A number of EU enforced regulations that affect the market over the next 18 months continue to drive demand in the UK, however there are some clients who are now delivering an increasing amount of these regulations using staff in EU head offices, rather than London which would have been the main location prior to the EU referendum vote.
How can we support?
We have recently been working with a global P&C insurance firm providing interims to develop and build out their Brexit strategy, to ensure requirements and entities are fit for purpose.
We have also seen continued interest from top tier clients requiring a combination of front office/corporate and transformation experience.
It is still unclear on the extent to the size of these European operations, and the timescales that these will be remodelled over. Most statements still make it clear that the amount of jobs and positions moving will be minimal, however we expect 2018 to see an increased demand across Europe for compliance, risk and technology interim professionals as these locations are invested in.
The current status quo of instability means that there isn’t much action other than strategic review, however this will change once there is more decisive action either from the corporates or the government.