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Finance sector 48% of interim manager contracts in Q2 2012

Almost half of all interim manager contracts in 2012’s 2nd quarter were in the finance and banking sectors, it was recently revealed.

The Interim Management Association says that a full 48 per cent of every contractor positions filled for interim managers came from the finance sector in its most recent research study. Not only that, but the number of interim finance manager contracts currently in progress was up for the quarter as well, with Q2’s 1,218 figure up from 2012’s first quarter figure of 1,134 positions.

The length of the average assignment was also found to have gone up, and by a significant margin. The second quarter’s average assignment length grew to 211 days, up from 152 in Q1.

It was more than freelance financial planners and contractor accountants that benefited from high levels of demand. 12 per cent of all positions for the quarter came from the IT & telecomms sector, while the manufacturing and pharmaceuticals sectors both boasted six per cent each.

IMA chairman, Jason Atkinson, commented on the findings, remarking that the interim management sector in the UK, a £1.5 billion a year industry, is a market leader. With specialised skills and a proven record of successes, the experienced executives that work within the interim management field  have been working hard to complete tasks for their clients quickly and efficiently before moving on to their next client, Mr Atkinson added, stating that the UK economy owes a debt of gratitude to these valuable assets.

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