Executive search firm Whitehead Mann has appointed Jonathan Baines to replace Sir Colin Southgate as chairman.

Baines, who spent 10 years in the army, founded financial services executive search firm Baines Gwinner in 1986. The firm was taken over by Whitehead Mann in 2001. Baines has been on the Whitehead board since then.
Baines will continue as senior client partner, but will not be involved in the day-to-day management of the business.
The arrangement means that chief executive Chris Merry is answerable to Baines on the board, while Baines is accountable to Merry on a day-to-day basis.
Analyst Andrew Nussey at Altium Securities, said: “We see this as a positive move as we have always felt that a recruiter requires someone with industry experience in a prominent position on the board.” 

Whitehead Mann said it expects to have broken even in the second half of its financial year. The firm’s results for the year to March will be published on 8 June. It enjoyed a move back into profitability in the fourth quarter. The company said revenue for the year to March would be just under £40m. 
It will report a small loss, but has cut its net debt more than forecast.

Last year, Whitehead Mann closed its interim management and North American businesses, and set up a business to specialise in recruitment for private equity firms.
Oriel Securities, which acts as house broker to the company, has an “add” recommendation on the shares. It said the “market backdrop” remains favourable and that opportunities in the UK and continental Europe should ensure revenue growth is accelerated.