Leeds and London-based Directorbank has achieved its strongest year of growth since it was set up eight years ago, particularly tapping the growing market in appointments of independent, high achieving non-executive directors.
This September they added to their own team with the appointment of John Pearce, a well known and senior figure in the finance director recruitment market. He is the fourth senior recruit in the last year, two others having set up satellite Directorbank offices in Scotland and the north-west.
Total turnover is up 24 per cent on the previous year and operating profits up 55 per cent. Growth has come from all areas of the business. Placements of chairmen and chief executives for VC-backed deals are up 30 percent; corporate appointments of both executive and non-executives are up 35 per cent and the events management side continued with strong performance.
Directorbank is retained by more than 50 private equity houses - KKR, the American giant is the latest to sign up. The retainer allows private equity firms to have constant access to Directorbankís database of 2,500 top directors interested in leading, chairing or becoming a non-executive for Management Buy-ins (MBIs) and Buy-outs (MBOs).
Chair appointments have been made for houses including ABN Amro, Granville, Hermes, Cazenove, Dunedin and LDC. Directorbank found three chief executives for MBIs who were critical to deal completions: Peter Selkirk at Taylor Continental Holdings; James Wilson at Palletways and Tony OíNeill at The Original Factory Shop.
Directorbank worked with Neil Utley of Cox Insurance to source funding of 430m to take the business private.
Recent appointments in the corporate market include non-executive directors for Holidaybreak, Oakdale Bakeries and ICM and the former finance director of Sainsburyís, Roger Matthews, was appointed chairman of Land of Leather in advance of its flotation.
Elizabeth Jackson, managing director of Directorbank, said: ìDirectorbank is a robust business with strong growth and performance in a number of different markets. Our corporate division, set up just four years ago, is the first port of call for a growing number of FTSE companies when looking for non-executive and executive directors. The Higgs Report that called for more diversity and independence in non-executives has been a real opportunity for us.î
John Pearce joins from the financial recruitment specialist ECHM - sold to AIM-listed Imprint Plc earlier this year - to head up and develop Directorbankís finance offering. John trained with Arthur Andersen and has fourteen yearsí financial and accounting recruitment experience with organisations including Michael Page, Hays, and ECHM Hitchenor Maher, where he helped develop its leading national brand in financial recruitment. In the last five years John has placed more than 80 senior financial candidates in to a wide variety of roles across Europe for FTSE 250 Plcs, larger private businesses and SMEs.
John Pearce said: ìI was approached by a lot of headhunters ñ but Directorbank was where I really wanted to be. I see them as the next big thing with quality individuals and an excellent reputation. Their contacts at chairman and chief executive level are superb, they get the job done better and are very approachable. There is no complacency and they have a really down to earth style.î
Directorbank organises what are seen as the private equity industryís flagship networking events for Management Buy-ins and non-executive directors, including MBI Friday lunches in cities across the country for candidates interested in taking part in MBIs.
Directorbank taps into growing non-executive market
.
