Tech-focused Levin exits Europe to concentrate on US market
Levin has announced a strategic restructuring that calls for the tech-focused recruitment group to exit the European market and focus on operations in the US.
The plan follows a comprehensive review by the recruitment organisation’s board, a Levin statement said. Levin described its decision as streamlining operations to focus on high-potential markets. This “aligns with the company’s vision to build the leading technology recruitment company in the world”, the company said.
With offices across London and New York, Levin is the parent company to Storm2, Storm3, Storm4 and Storm6, servicing FinTech, HealthTech, GreenTech and EdTech sectors in the US, specialising in senior and specialist talent.
James Brown, CEO of Levin, commented: “We have evaluated how best to align our physical presence to where most technology investment occurs globally, which happens predominantly in the US. We have chosen to exit the European market and increase investment into accelerating our US footprint. Despite having an exceptional team in mainland Europe, the region has received significantly lower tech investment than expected in recent years. We are deeply thankful to the European teams who contributed significantly to our journey.”
Brown continued: “This decision was not made lightly. We are immensely proud of Europe’s contribution to the company’s DNA and brand presence. Our focus now is on leveraging the outstanding performance of our UK and US offices, which have shown remarkable growth in productivity and performance over the past 12 months.”
Levin’s London and New York teams will concentrate exclusively on the US market, where recent performances have been strong. This strategic shift allows the company to capitalise on its opportunity in “the most dynamic and high-growth tech sector”, the Levin statement said.
As part of the strategic change in focus, Levin’s UK and US businesses have undergone a corporate restructuring supported by its lead investor Puffin Point.
Jamie Willoughby of Puffin Point commented: “While market conditions have necessitated a re-evaluation of our plans, we are excited about the future. The recent decisions will ensure sustainable growth. We have full confidence in Levin’s leadership and continue to support the company’s forward momentum.”
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