Greythorn, a global specialist IT recruitment firm, which operates in three continents, North America, Europe and Australia, has today announced that it has acquired WH Recruitment a leading banking and financial recruitment firm with operations in Hong Kong, Singapore, Sydney and Melbourne.
The acquisition heralds Greythornís aggressive two pronged growth strategy of entering new geographic markets and expanding the Groupís service offerings. According to Graham Palfery-Smith, Global CEO of Greythorn, ìWH Recruitment has significant specialist knowledge with a client base that includes some of the worldís leading financial services organisationsî, and the ìacquisition will enable us to move towards our objective of building a global specialist recruitment groupî.
Springboard into Asia
The new acquisition marks an important milestone in Greythornís new roadmap since being acquired by Englefield Capital in June. Chris Digby, CEO, Asia-Pacific, believes the acquisition fulfilled two major goals of Greythornís growth strategy by providing ìa springboard into the burgeoning Asian recruitment marketî and ìexpanding Greythornís range of service offeringsî to include banking and finance recruitment expertise.
Given the booming and immense potential of the Asian recruitment marketplace and the finance sector fuelling a large component of the regionís growth, Niall Hamill, Managing Director, WH Recruitment, feels the acquisition is a ìgreat fitî supplemented by ìgreat timingî. Further, WH will benefit immensely from ìeconomies of scale, access to new technologies and financial prowessî which will allow it to pursue continued growth.
Retention of WH Recruitment brand
Chris Digby will champion the integration and the future direction of the two brands as separate entities. While predicting that the combined turnover for the Asia-Pacific market will be in the vicinity of $120 million by 2007, Chris confirmed that the ìWH Recruitment brand will be retained and further developed given its favourable market reputationî. WH has in excess of 150 blue chip clients across the Asia-Pacific market and ìcross leveraging of expertise and resources, mainly the sharing of clientsí data, will be an immediate priorityî he added.
The combined group will have approximately 200 staff across eight locations worldwide. Announcing satisfaction with the acquisition, Chris believes that ìcurrent clients will be the immediate benefactorsî as the new combined service offerings ìwill provide staffing solutions across business units and geographical locationsî.
Greythorn moves into Asia-Pacific with new acquisition in the finance recruitment space
The acquisition heralds Greythornís aggressive two pronged growth strategy of entering new geographic markets and expanding the Groupís service offerings
