Top executives in the North are being targeted more aggressively than ever by leading companies keen to beef up their management credentials, says Leeds-based Hitchenor Wakeford Group.

Compared to the second half of 2006, the first half of 2007 has seen a 25% hike in the number of Northern senior executives being parachuted into firms keen to take advantage of experienced high flyers, according to Hitchenor Wakeford Group. £500m is spent on interim managers each year who can earn up to £1,000 a day.

John Wakeford, managing director of the Hitchenor Wakeford Group, said corporate activity and changes to international financial reporting standards in the region is stimulating the market:

“Demand for temporary ‘superman’ and ‘superwoman’ executives is booming but it is a tough role to fill. It’s a niche market where only the crème de la crème of management can thrive. We are actively targeting senior movers and shakers in the North of England on behalf of clients who include public sector organisations and FTSE 100 companies as well as firms undergoing change. Mergers, acquisitions, MBO’s and private equity interests are stimulating the market. The need for competent people who understand international financial reporting standards is also driving the market. We are developing relationships with some of the best business minds in the region who may at some point in the future want to step into a lucrative interim role.”