Despite the well-documented difficulties experienced by the UK’s finance sector, the number of financial services recruiters in the FAST 50 doubled to six from three last year, with new entrant Oliver James Associates coming out top of the rankings.  

The January 2013 issue of Recruiter magazine features the annual ranking of the UK’s fastest-growing private recruitment businesses, produced in association with mergers & acquisitions advisers Boxington Corporate Finance. The ranking is based on compound annual sales growth as measured over the companies’ most recent three-year financial period. 

Commenting on the outstanding performance of these recruiters, Tim Evans, Boxington’s managing director, says: “Defying expectations is most apparent in this sector, as we probably expected there to be fewer [in 2013 vs 2012]. ”   

And looking at the make-up of the companies themselves, Evans continues: “It is a number of well-known names, such as Astbury Marsden, Goodman Masson and Sheffield Haworth, many of who are coming back into the FAST 50. They are using not just their brand name, but their relationships, understanding of their sector, the calibre of their people and recruiting methodologies, all of which are established because they are established players, to drive marketshare.” 

This makes the achievement of FAST 50 novice, Oliver James Associates this year’s top-ranked FAST 50 recruiter even more remarkable, a point not lost on Evans. However, Evans says he is not surprised by the company’s standout performance, attributing it to a combination of drive and ambition, and long-term thinking. “My impression of them is that they are a bit of a cut above the rest,” he says. 

While the UK market has been particularly tough, finance recruiters have also benefitted from growth in overseas markets. “Five out of the six have an international footprint, with an office in either Hong Kong or Singapore, or both,” says Mark Kingston, senior executive at Boxington Corporate Finance.

However, the exception – the performance of Goodman Masson – shows that other approaches can also work. As Kingston explains: “Goodman Masson places candidates internationally from its London HQ, having developed its position through a brand proposition rather than develop its international footprint by opening offices abroad.” 

Kingston adds, though: “With five out of six having developed a local office network, that does say something about demand for local expertise.”

FAST 50 Finance recruiters:

1. Oliver James Associates

2. Astbury Marsden

3. McGregor Boyall Associates

4. Leathwaite

5. Goodman Masson

6. Sheffield Haworth

• See also last week's list of multi-sector entrants onto the FAST 50. The full list is out in the new edition of Recruiter.