THIS is several markets all rolled into one and is also a tale of contrasts. First, and most obviously, the banking and ship finance market has been hit and hit hard. There have been redundancies and most clients still have hiring freezes.
If you’re thinking of getting some banking expertise in-house or you’re a banker thinking of going in-house give Spinnaker’s Caroline Horsley a call (+44 1702 481650). She may just be able to make your future a little brighter!
Still with finance, the accountancy market has not suffered anything like banking. If you can count and know that GAAP isn’t a clothes shop, then you probably have a job and you won’t find it quite so hard as your banking friends to find another one.
There is also continuing demand for people who know their asset and project finance. Some of our bigger industrial and trading clients are developing their businesses rapidly into other areas and need talented people who can analyse projects in the industrial, agricultural and port sectors and both advise the business on their merits and project manage acquisitions and new projects. If you are one of these clever individuals, give Caroline a call.
Things are also much better for the lawyers of course. Someone has to benefit from recessions and it isn’t just insolvency practitioners.
Demand for litigators with 2-5 years experience has remained high as law firms have had to cope with the increased workload of charterparty and newbuilding cancellations, ship arrests and Rule B attachments. Supply has been tight as lawyers, like many others, have adopted a ‘better the devil you know’ approach. If the devil you know is too much of a devil though, we will be happy to hear from you and find you a new devil to work for.
The P&I market has been a bit of a mixed bag. Clubs are not only cost-conscious but they must appear to be so as they serve a membership that’s been knocked off its feet. Their manpower demands are driven by claims volumes and staff turnover. A good claims handler, lawyer or underwriter will always be attractive based upon his own personal merits.
The amount of P&I recruitment in 2009 has definitely been less than 2008 although there has been a definite increase in senior recruitment. We put this down to clubs taking a more strategic approach to manpower and succession planning. In-house legal and P&I recruitment at Spinnaker is run by Stephanie Walker, who we were recently delighted to welcome back from maternity leave.
The insurance market has not been bad this year. Demand for in-house staff has been driven by staff turnover and recruitment of underwriters and brokers has been steady, while a couple of start-up divisions have boosted the market.
Surprisingly perhaps, the sales & marketing recruitment market is actually pretty good. Some businesses are gearing up for the optimistically-awaited upswing. Talented business developers are an absolute must for unlocking market potential and employers recognise that. Caroline Horsley will be pleased to hear from you if you’re a snake oil salesman, especially for one of the Japanese vacancies for which she seems to have developed a bit of a thing!