The four largest accounting firms are expected to go on an aggressive corporate finance recruitment drive over the coming months, and increase their headcount by as much as a fifth, according to recruiter ECHM.

It says the recruitment will be driven in the key areas of lead advisory, transaction services, private equity and tax.

The accounting firms are undertaking the drive to cash in on the record levels of global mergers and acquisitions. “The current M&A boom clearly has had a profound impact on practice firms and the demands that are being placed on their corporate finance departments,” says ECHM's chief executive John Hunter.

ECHM’s Regional Recruitment Index showed a 12% rise in accountancy roles in London in Q3 2006 compared with Q3 2005, and a drop of 6% in candidates actively seeking new positions over the same period.