As everyone in the recruitment industry has undoubtedly heard, the fastest-growing area in the world at the moment is Asia, where it is predicted that the permanent recruitment market in Mainland China alone will shortly exceed the USD 1 billion mark. Thousands of businesses are opening in China every month and the employment market has ignited over recent years. Those businesses and organisations leading the vanguard into Asia know that they will be at the forefront of a global phenomenon for growth and profits.
BNB Recruitment Solutions Plc has announced its acquisition of a stake in the market leading business, MRI China. MRI China, whose turnover increased by over 45% in 2005, was founded in 1998 by Tony Dickel (CEO) and currently employs approximately 140 full time staff. It has developed into a leading independent recruitment consultancy, specialising in industry sectors such as Energy and Natural Resources, Banking, Insurance, Chemicals, Industrials, Pharmaceuticals and FMCG.
The company provides a permanent search and selection service, specialising in management level candidates, particularly in the functional disciplines of Finance, IT, HR and General Management. They have recently launched Contract staffing as an additional service.
MRI China has developed strong client relationships with many international names and a number of prestigious Fortune 500 companies. These clients are serviced through its offices in Beijing, Shanghai, Guangzhou, Hong Kong, South Korea, Taiwan and Singapore. The proven management team, led by Tony Dickel, will remain in place.
Doug Bugie, a Non-Executive Director of BNB, was involved with Tony Dickel in setting up MRI China in the early days. Doug commented ìIím delighted to be working with Tony and his team again. I have the twin goals of driving clients towards our new service in Asia and also attracting top recruitment talent to join the venture thereî. This will add a proven high-performance delivery arm in Asia to the BNB brand. Doug added ìthis acquisition provides us with a strong link to an organisation of excellence: MRI has been voted Best Executive Search Firm in China in 2003 and 2005. We are proud to be associated with them and their formidable success.î
One of the key benefits of the merger is to provide BNBís expertise in leading-edge services such as Recruitment Process Outsourcing (RPO) in Asia, where the emerging market is predicted to expand rapidly due to client demand. The MD of Bnb Outsourced Solutions, Bruce Morton, said ìWe already work with some of the most respected organisations across Europe. We see huge potential in this deal to enable us to extend these services to existing and new clients in Asia.î He added ìWe have a highly talented team and dynamic team - they are all very excited at the opportunity of working with their new colleagues in MRI Chinaî.
Krista Walochik, a BNB main Board Director, said about the deal ìThis acquisition fits with our group strategy of expanding our operations by investing in fast growth markets which will accelerate our earnings. MRI China is the largest recruitment specialist in the region, giving us a strong foothold and commanding market positionî
BNB Acquires Market-Leading Recruitment Business in China
As everyone in the recruitment industry has undoubtedly heard, the fastest-growing area in the world at the moment is Asia
