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Report: More banks turning to interim managers

Banks' recruitment policies are becoming increasingly focused on the hiring of interim managers, a new study has established.

Research conducted by Russam GMS revealed that such professionals are in high demand from financiers at present as they look to bring people in to their organization with the expertise to handle major transformation projects.

In the wake of the global economic downturn, many lenders have had to make changes to their staffing arrangements as they seek to reduce their outgoings.

And Russam's survey - which involved questioning 12,000 interim workers - has found that banking, finance and insurance is now the second-largest sector for temporary appointments.

This reinforces the findings of a recent study by the Interim Management Association, which showed that banks accounted for 53 per cent of all interim assignments in the UK's private sector in the first quarter of the year.

Jason Atkinson, managing director of Russam, commented: "Interim is a great option as it is a resource that can be turned on and off - something which appeals to a sector still going through major change and turbulent times.”

By Gary Cooper